With such low circulation and high transaction fees, I can only see it being used for large foreign payments, but not by every-day people.
Can BTC really become a global currency?
Caleb Morris
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Charles Russell
no, and its not supposed to be
Ethan Long
No but it's going to become a reserve currency.
Samuel Russell
>can
it already is.
Samuel Rivera
When you pay $5 more for coffee than everyone else what you're really paying for is the security and hashrate behind that transaction. You can drink that coffee knowing the merchant won't get ripped off and that $5 helps pay for a miner who's barely breaking even.
When any new user is introduced to Bitcoin and they see this $5 fee, they too will understand in time that the fee is a must have for security and that there is no other way to secure the network. In time users will drop Venmo or Apple Pay almost immediately so they can send money to each other for a low, low cost of $5. People will start running LN nodes and Bitcoin nodes and next thing you know Bitcoin will be mainstream. Just give it 18 months.
Oliver Collins
What is ChainLink for $1000 EOY?
Oliver Cooper
>such low circulation
>divisible by 100,000,000 or even more through a soft fork
pick one
Jordan Jenkins
That's what Monero is for.
Chase Campbell
18 months checked
Jack Howard
1) It's already global. You can send money to someone in any country, without national barriers. The only limitations are places like China, which have significant legal restrictions on cryptocurrencies.
2) Right now, bitcoin seems to be used primarily as investment/speculation. Some people use it as currency, but most people (including most of Jow Forums), bought it to sell at a higher price. Not because they intend on purchasing things with it. This indicates bad things for bitcoin's future - it indicates that it has very little real demand, and if the investors disappear, the price could drop a lot.
3) I don't think it will ever REPLACE the dollar/euro/etc. But it could serve as a significant alternative currency. For example, see how cryptocurrency works in Venezuela.
Hunter Carter
Bitcoin is the biggest meme of them all.
There is no way that bitcoin can get an wide implementaion into society at its current state.
It is way to expensiv to use for every day trade.
Noah Taylor
I'm not saying I disagree with your end conclusion, but I don't agree with your reasoning - how you got to the conclusion.
>It is way to expensiv to use for every day trade.
Lots of things are unusable for every day trade, and are still used as stores-of-value. Stocks, bonds, certificates of deposit, et cetera.
You could easily have a situation where a person stores 90% of their money in bitcoin, and periodically liquidates some of it into litecoin, or US dollars, or something, to use for daily transactions.
David Brooks
because you can copy and paste the bitcoin protocol. There is nothing """"rare"""" about a bitcoin
Xavier Smith
It's rare enough to be worth 10k/bitcoin.
Obviously, anybody can make a new coin, and there's nothing proprietary about bitcoin. But nobody will use your new coin, unless it's a significant improvement over bitcoin itself.
Anthony Stewart
as it stands it's best use is against long term inflation and short term hyper-inflation, when it's value plateaus then it might be a currency to spend on goods and services. Maybe in 10 years BTC will just Atomic swap to everything else or copy the best upgrades. Everyone trying to pick the next BTC is too early. I bet 95-98% of cryptos now are gone in 10 years
Dylan Bailey
Yeah, it might function as a gold crypto, just and inflation hedge because of its limited supply.
When people begin wanting to do small transactions in crypto the cheapest fastest one will win.... I like litecoin or dash.
James Foster
increasing blocksize isn't sustainable and TX fees can be lowered in the future through off-chain upgrades. This shit is so new and weak that you guys scream about it all being scams but the most secure chain is too slow and expensive. Your shit coins perform great on a few nodes at small scale. Let's see them scale to BTC and still remain secure enough for billionaires to keep their fortunes in
David Myers
Puplic adoption is the true moonshot that will come for cryptos. The coin who will perform the fastest and securest then will win the race.
Only a hand full of coins will survive the long run.
I dont disagree that Bitcoin will be used as a store of value than. But it dosent chance the fact that bitcoin is a Meme.
Thomas Perry
Found the nocoiner.
Come on , tell us, what heavy shitcoin bags are you holding.
Jackson Lewis
Do people buy gold/silver/stocks to use them or to sell them on at a higher price you absolute brainlet fsggot.
Carter Powell
ETH will essentially be every world market tied into one and 24/7
Gabriel Myers
BTC is not a currency
You don’t pay a coffee with gold
Asher Edwards
>stocks
People buy them, to receive dividends, moron. That's the ultimate reason stocks are valuable - because the corporation underlying them can make money, and distribute it to shareholders.
Of course, you can sell them at a higher price, but that's only because the market recognizes that the corporation underlying the stock has performed well, and is going to begin paying dividends, or increase the amount of dividends paid.
(there is technically another way a corporation can distribute money to shareholder - share buybacks, but that works kinda like dividends).
>gold, silver
Gold and silver have only returned 1-2% above inflation, over the past 2 centuries. They are a shit long-term investment.
Easton Price
In the old days, you did. Dollars were backed by gold (or silver).
Aaron Martin
in the future countries will peg a currency to BTC because it's predictable supply, public broadcast and sovereignty. Gold and silver have been manipulated by the banks
Jace Nelson
Probably not. Several things would have to change. For example, BTC would have to get a lot less volatile.
Grayson Murphy
NashPay will allow for the retailer to accept USD and the buyer can pay with any crypto listed on the Nash Exchange,including BTC, the Nash matching engine does the swap in real time for 0.25% fee.
That's how people will pay for coffee with BTC and it won't be your $5 fee. It will be 0.25%, which is substantially lower than the 3% visa charges.
Henry Gomez
bitcoin yes
Michael Turner
Most stocks don't pay dividends fucktard.
Sebastian Wilson
Well, you don't know much.
425 out of the S&P 500 pay dividends. That's the 500 largest companies in the USA.
businessinsider.com
Leo Campbell
>nocoiner
>has shitcoin bags
>????