One of the points in this article says, Bitcoin is deflater by its nature since day one, which is true. Therefore it can not depreciate, also because people not only use it as payment but also hold it to gain value over time.
However some people do the same thing with fiat money they hold and save it to spend it later, and it inflates due to many OTHER economic factors, not because people like to spend it.
Topic: How Bitcoin becomes a real currency (Read 376 times)
BTC is going to digital gold
and other crypto fighting to be a currency
and other crypto fighting to be a currency
Because many people uses it in everday living, you can trade, uses in online transactions. most of all it cannot be faked compared to fiat money.
I also think that Bitcoin cannot become the mainstream currency in its current state. Bitcoin has so many unexploited flaws. The fact that it is decentralized makes it completely unsuitable to act as a prime currency. It has no minimum valuation guarantee. If a lot of whales decide to dump Bitcoin, the public would suffer immensely. We know that Bitcoin make the illegal transactions quite easy. So the crimes would increase if it started acting as the main currency.
Have you copied that? That's too academic.
Doesn't look like it, surprisingly. I tried Googling random snippets and it only ever returned this thread as the sole result. Wow what a wall of text.
But yeah, great effort. I see you're basically saying it boils down to Bitcoin being used for trade, which I completely agree with.
I might have missed a few stuff, but how do you think it would be possible to manage Bitcoin's deflation and inflation? I don't think this is at all possible. Or were you strictly talking about expectations? Like, tell people prices won't increase so they're less incentivized to hold or something like that?
Well me must be thankful for this statements, although there is some argument we need to tackle in that statement but it is beneficial for the beginners to more aware on what bitcoin road to take.
Updated my paper. Now,You can see those pictures of derivation formulas.
I will post another one recently. I will explain a market mechanism for Bitcoin developing to a real currency.
Have you copied that? That's too academic.
Doesn't look like it, surprisingly. I tried Googling random snippets and it only ever returned this thread as the sole result. Wow what a wall of text.
But yeah, great effort. I see you're basically saying it boils down to Bitcoin being used for trade, which I completely agree with.
Probably translated
Quote
Dutch Shield NLG 2.2037
- there was no dutch "shield" it was the GuilderSince the images are from baidu , most likely it was translated from a Chinese article
I considered that, but the grammar seems way too good for an automated translation service. He must have done it himself if it's really translated. Oh well, we won't really know until OP comes back to respond.
It is unlikely that BTC will become cash, because BTC is still inadequate to put them into circulation in the consumer market. Too many people do not know how to use BTC technology
yes that's right, the lightning network is still not completely perfect. maybe 20 years from now it can happen. maybe 
Bitcoin is indeed the result of the development of the world of e-commerce technology. We just wait for the development of this virtual currency.
I was surprised and proud reading this post, it nice article to read.
However, I think we have better stop talking or treating about bitcoin will be real or official currency. One should be highlight is bitcoin is not currecy as virtual. It can not be a real currency or fiat, because it is not influenced, stringed, or even depended on other currency. It is decentralized system which offers free framework.
However, I think we have better stop talking or treating about bitcoin will be real or official currency. One should be highlight is bitcoin is not currecy as virtual. It can not be a real currency or fiat, because it is not influenced, stringed, or even depended on other currency. It is decentralized system which offers free framework.
No matter how many policies and academic articles we publish regarding bitcoin's excellence as a currency, if we can't change the mindset of people who use it, there will really be no effect in turning bitcoin from an investment to a fully-functional currency.
Don't you think that many people stopped treating Bitcoin as a currency after the transactions fees had spiked? People might want to ditch PayPal (because of growing fees) in the future. Bitcoin + the Lightning Network would be the best choice for them since this combination would offer extremely cheap, instant and independent transactions. I do agree that there will be holders and investors who will only worry about their profit but new users are expected to be seen.
Too many people do not know how to use BTC technology
do not forget that people are very intelligent and learn very fast, so that will not be a reason for them not to use bitcoin
It is unlikely that BTC will become cash, because BTC is still inadequate to put them into circulation in the consumer market. Too many people do not know how to use BTC technology
yes that's right, the lightning network is still not completely perfect. maybe 20 years from now it can happen. maybe if bitcoin becomes a currency it is quite difficult, because until now there are still many countries that disagree with the existence of bitcoin. should the government really believe with BTC they would agree with the existence of BTC. but it is all difficult to predict, because the government lacks trust in BTC.
People will never value bitcoin as a currency but rather as an investment, no matter how hard we try to curb that thought bitcoiners have developed for years. Seeing the great appreciation of value bitcoin saw in its years, people became quick to develop the HODL ideology which, at some point, bitcoin's price will boom and they will be granted with profits. No matter how many policies and academic articles we publish regarding bitcoin's excellence as a currency, if we can't change the mindset of people who use it, there will really be no effect in turning bitcoin from an investment to a fully-functional currency.
That is when bitcoin money falls into the hands of smart and wise investors, they will know how to turn this virtual currency into a real money to use to pay for the monthly expenses and needs of. self. Find out and consult bitcoin experts, they will show us what to do to make bitcoin a real money.
Someone who is smart will not help Bitcoin become a real currency at this time, it takes a long time to think about this, it all depends on the government that has a greater influence with the progress of Bitcoin now, and ETFs that are not always approved by the SEC, so now we only can use it without being able to become real money, the voice of people everywhere but not much is heard by the government.
It is unlikely that BTC will become cash, because BTC is still inadequate to put them into circulation in the consumer market. Too many people do not know how to use BTC technology
yes that's right, the lightning network is still not completely perfect. maybe 20 years from now it can happen. maybe
That is when bitcoin money falls into the hands of smart and wise investors, they will know how to turn this virtual currency into a real money to use to pay for the monthly expenses and needs of. self. Find out and consult bitcoin experts, they will show us what to do to make bitcoin a real money.
For a bitcoin to become a currency, it is a process we need to make them useful and have many applications to our daily lives so that bitcoin can be considered currency. in future
Bitcoin becomes a real currency
Bitcoin becomes a real currency
It is unlikely that BTC will become cash, because BTC is still inadequate to put them into circulation in the consumer market. Too many people do not know how to use BTC technology
Have you copied that? That's too academic.
Doesn't look like it, surprisingly. I tried Googling random snippets and it only ever returned this thread as the sole result. Wow what a wall of text.
But yeah, great effort. I see you're basically saying it boils down to Bitcoin being used for trade, which I completely agree with.
Probably translated
Quote
Dutch Shield NLG 2.2037
- there was no dutch "shield" it was the GuilderSince the images are from baidu , most likely it was translated from a Chinese article
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