Post
Topic
Board Economics
Re: Bitcoin can never become a currency. Part 2: reward distribution.
by
mu_enrico
on 28/06/2020, 13:11:56 UTC
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.
Perhaps it cannot become a currency, but it certainly can become useful money. And with Bitcoin's nature, not only it is scarce, but also it can be pretty damn liquid too.

Criticizing Bitcoin is not that interesting though because the argument of the limited supply, transaction cost, reward distribution, etc., is pretty much known. And yet, if people still use Bitcoin, it is not going to disappear anytime soon.

It's probably more interesting if you try to explain what is your idea, about your system, about the ideal cryptocurrency in your mind. Preferably about the economy so you can post it here.

Nice writings by the way.