Post
Topic
Board Economics
Re: New Hampshire bill to allow taxes to be paid in Bitcoin falls short
by
HabBear
on 19/01/2020, 04:19:59 UTC
We're going backwards partly because people are hoarding their cryptocurrency instead of using it.

Is this really a problem for Bitcoin's future? I don't think so. This "project" is young still. The market is still figuring out what the best utility for Bitcoin is, and obviously a store of value or investment is the primary use at this point. And can you blame anyone for that when the price as movement? No. Bitcoin being an alternative investment is still enabling owners to 1. growth their wealth, and 2. keep some of their wealth outside of government or geo political influence.

I applaud you for using the crypto gift cards, using cryptocurrency regularly helps keep it familiar among the public, i.e., yeah, bitcoin is still a thing.

Question for you and everyone else...how long would the price of Bitcoin need to be stable before people started using it more as a medium for exchange rather than a store of value? Would $10k/BTC for a year be enough? for five years?