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Topic
Board Beginners & Help
Re: WILL BITCOIN BE ACCEPTED AS A MEANS OF TRANSACTION IN THE WORLD
by
HabBear
on 09/02/2021, 23:40:10 UTC
The market has had 10 years to decide the answer to this question...Bitcoin is an asset, a store of value. Bitcoin is not a currency. I mean it can be used as currency, but it's not going to be a widespread currency, the world is not going to turn into "Bitcoin Accepted Here!"

Why?
  • Currency needs to be stable in value, e.g., a liter of milk needs to cost tomorrow what it cost today, and Bitcoin's value is way too volatile for that
  • uhh...that's the only reason, really

There are other tokens that are designed to serve as currencies, properly. Ripple and Lumens are precisely designed for that purpose. Ripple and Lumens may go up in value - i hope they do! - but likely not in the extreme ways we've seen with Bitcoin.

Forever be hodling!