Post
Topic
Board Economics
Re: Don't spend bitcoin. Not now.
by
LeGaulois
on 04/10/2019, 22:11:35 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.



Yeah, "ridiculous" was exaggerating but too many people see Bitcoin as an investment. It's not new I know, I have see that coming back in 2014. It isn't the case, Satoshi didn't create a quick-rich scheme, an asset or something like that.

See Bitcoin as what it is, a currency to live with to buy bread, meat, etc...  Look, you're talking about Venezuela, right there, they start to show the real use of Bitcoin and guess what, since you consider more the value, they pay a premium price there to buy BTC. (Buying bitcoin with Venezuelan Bolivar (VES) costs you $600 more than on global exchanges according to Localbitcoin data.)

Like what I said Bitcoin and its ecosystem won't grow without doing anything, and nothing will be done if there's no demand and interest behind. Really it can allow us to recover a power we had lost until then or never got. We can create a society where we all join together to compete against the states, the financial system, etc.

The "Bitcoin-to-the moon" will then come organically don't worry. Sure you can also see BTC as an investor POV, well, like IRL we have a saving account, stock options, ect.