Topic: I think Bitcoin is great as an asset and not as a Currency. - page 7. (Read 1115 times)

Where did you read that? Did Saylor tweet it?

In the above complex part of your message, you try to explain that if the majority sees it as an investment it'll be volatile, correct?

This has nothing to do with centralization; it's just bad wealth distribution.

I don't like that term either, but if the currency is deflationary or if it's slowly decreasing in its inflation, it will worth more in the future whether you want it or not. Even Bitcoin that is the most volatile asset this decade seems that it's gaining more and more economic value. But, the problem doesn't come from the way that it inflates; it's the fact that no one controls it. There's no administrator that will “print” more Bitcoins to balance a specific exchange rate, so whether it's highly inflationary or deflationary, there will be fluctuations.

I can't say that I agree with this.

Hello everyone so first thing I believe in crypto and it is one of the best thing and de-fi is a revolutionary idea and I really love it. So everyone including me thought Bitcoin should be used as currency but after a period of time I realised something and I am just sharing with y’all to know if you all agree with me or not.

So recently we see Micro Strategy is buying and buying bitcoin and they are trying accumulate more and more and I read somewhere they are planning to buy 20-30% of the Bitcoin’s market supply, yes this information might be wrong but someone else who is rich can do this anyone with money and can accumulate bitcoin.

AND YES IK THEY HAVE STATED “ THAT THEY WILL NOT SELL BITCOIN FOR 100 YEARS”

So the problem with declaring or using Bitcoin as a currency is that it Is not good for the economy of that country if they have a currency which very limited, limited than gold as their currency and Bitcoin is a currency which rich people can afford, and yes I know we can buy bitcoin with even 10$ but that is not the point, the problem is that there is a rich person out there who is holding a really great % of bitcoin just because he/she has stated that they won’t sell bitcoin for 100 years you should not base your whole economy on that because it’s like putting a sword on your head what I they change their mind and start selling, a person who has 10$ worth bitcoin will become 1$ and you and me both agree that is bad for both country and people residing in it. Yes it will be temporary but no no one will know when will bitcoin restore it values and that can mess with government’s and people’s dream.

And one more thing if a person is a trying to accumulate more and more bitcoin then indirectly it will be centralised and we will just hope that they don’t sell and just ask your self do you want to depend on other people for your destiny.

And to be honest I don’t like the concept of HODLING because it is a CRYPTOCURRENCY not a CRYPTOASSET, assets are meant to be hold and not currencies, Do you store use no right you spend them on things you love and buy it and that makes a country’s economy stable because their currency is trading each and every day, use, yen, euro, etc are regularly circulating and no on is holding it.

Conclusion:

It depends on us what we want to shape crypto in a long term as an asset or as a currency, but we can’t have it both.

See I am just sharing my thoughts and want your opinion on this that do you agree with me or not.