Post
Topic
Board Bitcoin Discussion
Re: Should bitcoin really be used as currency?
by
Lee_Mire
on 23/06/2021, 07:48:40 UTC
South African countries, Venezuela & El Salvador and others are adopting Bitcoin as an everyday currency for whatever reasons - Inflation, corruption destroying nation's currency etc.

It doesn't seem right that if a family has their money in bitcoin and can afford their rent and bills one week and the next week some western US bank or 'influencer' decides to dump their holdings or cause FUD and cause a 20% drop and then that family cant pay their rent or have enough for all their food shopping the next week right?

Just seems wrong to me the influence some people have and how it's affecting 'normal' people's lives who aren't necessarily using bitcoin as a speculative investment.


You are absolutely right, volatility will always make it difficult to use bitcoin as a currency. Bitcoin must reach a big enough market cap (5T or more) so it can stabilize on the same level as gold at least. Then maybe people can store their wealth and use it as a currency rather than a speculative investment.