Post
Topic
Board Economics
Re: Bitcoin can never become a currency. Part 2: reward distribution.
by
Petryakov
on 28/06/2020, 12:32:58 UTC
Why do people insist on making bitcoin a currency anyway? I do not even need to realize the reward distribution part and the volatility to actually know that I do not want bitcoin to be a currency. I want it to be a digital currency that is niche and used by few hundred thousand people (at most 10 million) all around the world and that's it. You guys are trying to make it public so that everyone in the whole world uses it and becomes a currency all because you want the price to go up as well, with bitcoin being used that much it would be able to get a lot of demand and that demand will cause the price to go up.

I do not want anything like that, it makes no sense to want something like that, I rather see the price stay here forever without changing just so I could avoid all the troubles being a currency would bring.

Well, Satoshi called it a peer-to-peer electronic cash system and positioned it as an alternative to conventional payment systems. Creating decentralized money was a brilliant idea, which is why I (and many others in the community) wanted to see at as a currency. At some point, I completely realized that it cannot handle the burden and now I'm expressing my arguments. I don't mind Bitcoin staying a speculative asset, although I would be happier to see the initial ideas embodied.