Post
Topic
Board Bitcoin Discussion
Re: If the virtual currency does not have a payment function, what does it mean?
by
dothebeats
on 10/03/2018, 11:47:50 UTC
If there is too much public opinion about a thing, then most of this thing has a demon.

Uhh, what?
In my POV, if there is too much public opinion about a thing, then this thing is either revolutionary, controversial, or important that people are gladly spending a few of their neurons talking about the matter. Not every overly-opinionated topic is bad.



If everyone wants to make money through the blockchain, it means that the chances of making money are no longer great. The redistribution of wealth has never been to everyone's share.

Everyone also wants to make money in several overcrowded industries in today's world but they still succeed. If you aren't that successful or don't see any chance of making it big on your chosen craft, then you are more likely ill-equip on a journey or you just don't understand everything before you dive in a certain thing at all. The idea of an equal wealth distribution sounds good, but in reality, it wouldn't pan out well IMO.



The virtual currency that is now being favored by the public is represented by Bitcoin. If there is no payment function, what meaning does it have in addition to speculation? Why is the use of blockchain technology all talked about is not focused on the application of virtual currency in retail payment?

The payment functionalities of bitcoin were never stripped down just so it can focus more on being a speculative asset. It remained intact, though bitcoin's economy of traders and users see that bitcoin as a speculative asset works great that's why they are trading it. Also, the blockchain tech is talked about because of its massive potential to make things easier and more secure for different services and different applications. While bitcoin is already doing good (because it isn't the best IMO) as a payment method, there's only a handful of services and companies willing to accept bitcoin as a form of payment, so the problem isn't in bitcoin per se but rather the people involved in bitcoin's economy.