Post
Topic
Board Economics
Re: Why Bitcoin is not that good as currency?
by
EdenHazard
on 31/10/2019, 18:33:56 UTC
Well, I believe finite supply is like a stamp collection. It's "collectors item" in terms of economics. It will lose its fungibility in time and people will want to have bitcoin because of its rarity. It's perfect for store of value, but it cannot be used currency of modern world just because of "right of economics". You know that guy who is a stamp collector and burnt his one of high priced stamp, and consequently second one's price went to the roof.

Monero can be a currency of an utopic world. However, we are not living in an utopic world. It won't be used except privacy enthusiasts, criminals, some wannabes and Linux cowboys in the future, I'm afraid.
I couldn't have said any better, the decentralized concept used by bitcoin actually should be a problem solver on the current economic struggle, but those stubborn world leaders can never let this inventions used widely anytime soon.

It takes really long long time for bitcoin to be well received and recognized as a currency in the wide community.

The volatility still becomes a serious problem, where stable coins recently offering to solve this matters, many crypto stakeholders can't believe in such concept would work . So the only way to make bitcoin considered as good enough as a currency is just waiting a little longer till the time where people can accept every single thing in bitcoin come.