It's not only the speculators at fault in here but also the lack of places and platforms in which we can use our cryptocurrencies. It's as if crypto is specifically made for speculation and not as a medium of exchange per se due to the fact that there are more exchanges available compared to the number of merchants accepting bitcoin fully, which, to me is a ridiculoudly small number given the amount of growth bitcoin has seen in its almost 10 years of existence.
People will value the deflationary side of bitcoin than using it to actually buy something, and other people will do the same causing a stagnation in the economy and a completely new purpose for bitcoin: wealth generator and not cryptocurrency.
Topic: A Discourse In Twitter - page 2. (Read 343 times)
This just highlights the problem with a deflationary currency and why fiat is inflationary by nature. If a person has incentive to not spend, he will not spend. It's also why crypto can't be used as the sole world currency -- the global economy will stagnate, with people not wanting to spend their money.
That being said, there's no right thing to do in this case. Spending is better for the ecosystem, but since crypto enables people to do whatever the fuck they want with their money, they should be doing exactly that. You don't have to go to either extreme either. A healthy middle of spending some and saving some is always an option.
That being said, there's no right thing to do in this case. Spending is better for the ecosystem, but since crypto enables people to do whatever the fuck they want with their money, they should be doing exactly that. You don't have to go to either extreme either. A healthy middle of spending some and saving some is always an option.
John McAfee was right, yes, we should use it as intended and in fact I am using it and holding some bitcoins at the same time.
It's not hard, when we use it, we contribute for its growth but we should also be futuristic and see in the future that more users than investors will be here in the market, and as adoption grow, it cannot be denied that it will excite us since the value of bitcoin will follow.
It's not hard, when we use it, we contribute for its growth but we should also be futuristic and see in the future that more users than investors will be here in the market, and as adoption grow, it cannot be denied that it will excite us since the value of bitcoin will follow.
This is an interesting post in Twitter by the man named John McAfee a man who is very popular for his extravagant predictions on Bitcoin:
We don't need to be told the value of a dollar. Our awareness of value comes from knowing the dollar price of goods and services. In crypto we don't need exchanges to tell us value. The economy itself could be our guide. But first, we must use crypto as intended. Why wait? Use it.
- John McAfee
And to which someone replied:
Why wait? Let me tell you...we wait because its better to have it in your possession while it grows in value...imagine spending 1 BTC on something now that buys you $8k worth of goods but in a few years it could buy you $1m worth of goods...dont be the Bitcoin Pizza guy
- Crypt0_Cowboy
While cryptocurrency like bitcoin should be playing its role as a currency or money that we should be using with everyday purchases, the other side of the coin is always holding us...and that is where we become speculators or hodlers believing that bitcoin can soon go beyond the $20,000 zone previously achieved.
Quote
We don't need to be told the value of a dollar. Our awareness of value comes from knowing the dollar price of goods and services. In crypto we don't need exchanges to tell us value. The economy itself could be our guide. But first, we must use crypto as intended. Why wait? Use it.
- John McAfee
And to which someone replied:
Quote
Why wait? Let me tell you...we wait because its better to have it in your possession while it grows in value...imagine spending 1 BTC on something now that buys you $8k worth of goods but in a few years it could buy you $1m worth of goods...dont be the Bitcoin Pizza guy
- Crypt0_Cowboy
While cryptocurrency like bitcoin should be playing its role as a currency or money that we should be using with everyday purchases, the other side of the coin is always holding us...and that is where we become speculators or hodlers believing that bitcoin can soon go beyond the $20,000 zone previously achieved.
Well, satoshi really intended cryptocurrency to be an alternative medium of exchange to be used as it is, and not as an investment tool. However, the potential of crypto as an investment tool weighs more than than how it is really intended to be used. Of course, no body wanted to be another pizza guy buying something out of a lot of bitcoin as many are speculating bitcoin price to be too high in the future.
This is an interesting post in Twitter by the man named John McAfee a man who is very popular for his extravagant predictions on Bitcoin:
We don't need to be told the value of a dollar. Our awareness of value comes from knowing the dollar price of goods and services. In crypto we don't need exchanges to tell us value. The economy itself could be our guide. But first, we must use crypto as intended. Why wait? Use it.
- John McAfee
And to which someone replied:
Why wait? Let me tell you...we wait because its better to have it in your possession while it grows in value...imagine spending 1 BTC on something now that buys you $8k worth of goods but in a few years it could buy you $1m worth of goods...dont be the Bitcoin Pizza guy
- Crypt0_Cowboy
While cryptocurrency like bitcoin should be playing its role as a currency or money that we should be using with everyday purchases, the other side of the coin is always holding us...and that is where we become speculators or hodlers believing that bitcoin can soon go beyond the $20,000 zone previously achieved.
Quote
We don't need to be told the value of a dollar. Our awareness of value comes from knowing the dollar price of goods and services. In crypto we don't need exchanges to tell us value. The economy itself could be our guide. But first, we must use crypto as intended. Why wait? Use it.
- John McAfee
And to which someone replied:
Quote
Why wait? Let me tell you...we wait because its better to have it in your possession while it grows in value...imagine spending 1 BTC on something now that buys you $8k worth of goods but in a few years it could buy you $1m worth of goods...dont be the Bitcoin Pizza guy
- Crypt0_Cowboy
While cryptocurrency like bitcoin should be playing its role as a currency or money that we should be using with everyday purchases, the other side of the coin is always holding us...and that is where we become speculators or hodlers believing that bitcoin can soon go beyond the $20,000 zone previously achieved.
Jump to: