Post
Topic
Board Economics
Re: Don't spend bitcoin. Not now.
by
BartS
on 04/10/2019, 21:39:13 UTC
That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough. If no one uses Bitcoin, how do you want the ecosystem to develop? The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but
if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

I believe this is not a ridiculous thinking. You must observe to all main bitcoin use cases. People in Venezuela use Bitcoin because their currency is completely devastated. So pepple believe in gold or bitcoin. You can see the same behavior in Zimbabwe too.


While money has to be a store of value the main reason money was created on the first place was to make it easier to trade goods with each other, so while I understand your desire for people to keep holding their coins since in the future those coins will appreciate in value that is not going to happen if no one uses bitcoin to exchange goods and services among each other.

What most people want the most is to be able to use their bitcoin everywhere and that is not going to happen if no one uses it.