Post
Topic
Board Economics
Re: Monthly average USD/bitcoin price & trend
by
exstasie
on 26/04/2020, 23:40:57 UTC
I have thought of the latter statement and now have something to say on the subject:

People are different. There are things that, by nature, become used by everyone on the planet. The others don't.

Bitcoin has failed to become easy enough to use by the general population (commoners).

The planetary post-lockdown money system must be simple to use. A child must be able to use it.

Ease of use is one reason Bitcoin won't become the predominant money system. Fixed supply, which results in low velocity of money, is probably a more important reason.

That doesn't mean BTC won't greatly appreciate in value. My opinion is we are still destined for 7 figures USD eventually. I also think BTC could eventually become a reserve asset, although it's very unlikely to be directly pegged to national currencies due to its fixed supply.