Quote from: nutildah on August 08, 2023, 01:15:46 PM

Quote from: BlackHatCoiner on August 08, 2023, 12:26:12 PM

Quote from: nutildah on August 08, 2023, 08:29:59 AM

If everybody held their BTC

Everybody don't hold bitcoin. That's what matters. What would happen if everyone did, is another story.

I realize that. What I was trying to get across was the "another story" aspect, which is the logical result of everybody holding their bitcoin, which is the mentality that some bitcoiners like to insist upon... that it should just be held indefinitely.

Quote from: BlackHatCoiner on August 08, 2023, 12:26:12 PM

The fact is, if you're living off the basic income, need cash and you're out of liquidity, you're going to sell your bitcoin. People who don't run out of liquidity (i.e., rich), with the same mindset and reasoning, will probably hold it for longer.

This is if you treat it purely as an investment, which its not. It was meant to be a digital currency or "electronic cash" first and foremost.

but it is kind of a 'fail' as a currency.

It's more like a $10,000 t-note made for large transfers of value.

scrypt algo with LTC/Doge is far better suited for smaller transactions.

Not that btc is not good to move large wealth or expensive artwork "NFTS" it is great for that but is has not yet fully developed a network for small change movements. Maybe LN will do the trick down the road.