Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions. Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.
there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.
Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much. Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.
This is flawed, you can apply the same to the $ if you want to spend in euros, for example.
For the same reason, if I want to spend 1 bitcoin today it's still 1 bitcoin tomorrow, etc...
I would disagree it's flawed, the reality (currently) is that if you want to buy $20 worth of groceries tonight it's going to be the same amount tomorrow or next week or next month (not including things like sales or seasonal foods of course). While 1btc is still 1btc , if you wan'ted to buy 1btc worth of groceries tonight and you put it off until tomorrow, suddenly the amount of groceries you get is going to be quite differe wether it's more or less. And for people wanting to buy groceries (or most items) they don't like that level of instability and uncertainty. They prefer to know they can get the same amount of groceries next month that they can get right now.
Things could and I think should change in the coming yes but regardless of how much you like bitcoin it is a reality right now that it's not practical currency for shopping as of right now.