Post
Topic
Board Economics
Re: Bitcoin has no practical use and could be damaging to the economy!
by
Beerwizzard
on 13/03/2019, 06:56:00 UTC
One was able to pay hospitalization, the other have been able to buy for him a house and lot, others have been able to buy a car to get to his job early, and so many other things.. See how people even made bitcoin atms and for just a simple reasoning bitcoin becomes useless and damaging? I think this guy has to wake up...
What features of Bitcoin allowed those people to buy a house? Maybe blockchain? Fiat money are so centralized that people refuse to sell property in exchange for it?
The answer is simple: some people just got lucky and became wealthier because they earned some BTC by doing some simple online stuff (it is mostly about India). Money gave then an opportunity to buy a house and not a bitcoin by itself.

Even with the efforts done by the inventor Satoshi Nakamoto and the people who supported bitcoin around the world, still these guy from EY says there was no practical use for it and the deflationary model can only give damage to the global economy.
I would be very glad if some Indian genius will show how deflationary economy will work.
BTC is not dangerous for the global economy just because it will not play an important role in monetary supply of any country.