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Topic: People are underutilizing Bitcoin - page 11. (Read 2032 times)

legendary
Activity: 3528
Merit: 7005
Top Crypto Casino
November 11, 2019, 11:56:31 AM
#5
I could sell someone a rock for $100,000 if they find "worth" and have the resources to purchase it.

If someone is willing to hold a bitcoin and not get rid of it because it has "worth" to them, then I am all for that.
Agree with all of the above, and I would point out that nobody is clamoring for people to start using diamonds or gold for purchases because they're afraid those things will disappear if people don't.  Bitcoin has value as an investment and people could use it to pay for things if they so chose.  It isn't necessary that they actually do.

I have no fear whatsoever that bitcoin's popularity will decrease if it doesn't get used as a form of money.  It really hasn't been used much for purchases in the ten years it's existed, so where's the danger?  It's a valuable thing that gets traded on exchanges and if that's the only thing it ever does from now until the day it dies, that's fine with me.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.
It's not a placeholder, though.  Nor is it a stablecoin, and it probably isn't ever going to become one unless its value seriously stabilizes--and I don't think that's going to happen.
full member
Activity: 1708
Merit: 125
www.positivebetting.com
November 11, 2019, 11:49:51 AM
#4
People need to start accepting Bitcoin and keeping it, not converting it.
you should have said "continued using it" instead of keeping because if they keep it, it sounds like HODLing and that is not doing anything.

in any case this problem has always been with bitcoin. the price rise alone makes people want to "invest" in bitcoin instead of seeing it as a currency. that is why so many people are calling it store of value these days instead of a currency.

Quote
If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.
Thoughts?
not unless someone finally comes up with some actually decentralized stable coin otherwise centralized ones are not even close to being 0.001% useful as bitcoin!

Hodling cryptocurrency actually does help. People are holding it because it has value to them. "worth" is given when something is valuable to someone.

I could sell someone a rock for $100,000 if they find "worth" and have the resources to purchase it.

If someone is willing to hold a bitcoin and not get rid of it because it has "worth" to them, then I am all for that.



legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
November 11, 2019, 11:47:13 AM
#3
People need to start accepting Bitcoin and keeping it, not converting it.
you should have said "continued using it" instead of keeping because if they keep it, it sounds like HODLing and that is not doing anything.

in any case this problem has always been with bitcoin. the price rise alone makes people want to "invest" in bitcoin instead of seeing it as a currency. that is why so many people are calling it store of value these days instead of a currency.

Quote
If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.
Thoughts?
not unless someone finally comes up with some actually decentralized stable coin otherwise centralized ones are not even close to being 0.001% useful as bitcoin!
legendary
Activity: 1904
Merit: 1074
November 11, 2019, 11:04:10 AM
#2
Hoarding bitcoins adds zero value to the Bitcoin ecosystem, because merchants needs to get business via Bitcoin payments for them to continue

supporting it as a payment option.  Roll Eyes  The Banks are not the real problem here, the real problem are the payment processors that are used to

convert bitcoins to Fiat, because that is not how Bitcoin was supposed to be used. Satoshi said P2P not Person to third party service.  Tongue  The

article makes sense, but you have to remember that governments are calling the shots, because they are not allowing Bitcoin to function as a legit

currency.  Angry
full member
Activity: 1708
Merit: 125
www.positivebetting.com
November 11, 2019, 10:41:14 AM
#1


People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?
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