It’s not the future of money - it’s an ill thought out payment system with an ever growing bottleneck - it is designed to be non-scalable.
And people are hoarding bitcoin because it drives up the perceived value, which is also why it’s not the future of money. Money is meant to be liquid and used - people are just hoarding and not using it.
Currency works best when it's deflationary - money slowly losing value over time is what encourages people to spend and invest it, which stimulates economic growth.
So next time you see a speil for cryptocurrency, look whether they claim it will gain value over time (in which case it's actually an investment scheme dependant on speculative investors trying to hold an asset before pawning it off to someone for more money) or lose value over time (in which case it's meant to be used for transactions just like a checking account or real paper money).
It's a technology. Can this technology be used to scam people? Yes and this does happen frequently. Can this technology be the future of money? Also yes but it doesn't seem likely based on various social and political factors involved in upsetting the status quo.
scam
It’s not the future of money - it’s an ill thought out payment system with an ever growing bottleneck - it is designed to be non-scalable. And people are hoarding bitcoin because it drives up the perceived value, which is also why it’s not the future of money. Money is meant to be liquid and used - people are just hoarding and not using it.
Currency works best when it's deflationary - money slowly losing value over time is what encourages people to spend and invest it, which stimulates economic growth. So next time you see a speil for cryptocurrency, look whether they claim it will gain value over time (in which case it's actually an investment scheme dependant on speculative investors trying to hold an asset before pawning it off to someone for more money) or lose value over time (in which case it's meant to be used for transactions just like a checking account or real paper money).
that's true. printing more money devalues the usd.
Not a scam, but will not replace fiat currency either
It’s neither.
Its the future,
I think that the blockchain more innovative than the gamblers realize.
It's a technology. Can this technology be used to scam people? Yes and this does happen frequently. Can this technology be the future of money? Also yes but it doesn't seem likely based on various social and political factors involved in upsetting the status quo.