[forthefuture]

The best case scenario for Bitcoin is reaching a consistent price for the rest of its lifetime. That scenario means there's no reason to "invest" in it because ideally it would never change in value.

Only people trying to cash out need people buying in. If you were really invested in the long term you'd rather people not buy in so you can buy more at a lower price.

Bitcoin also has fees. The only reason the fees are lower than credit cards are because people in China can afford to burn electricity at a loss just to turn their Chinese money into anything else.

You still have to pay taxes on the capital gains. And you can't pay taxes in Bitcoin.

[tradersam]

I don't agree.

The best case scenario for bitcoin is it becoming the de facto monetary standard, meaning there would be no reason to buy or cash out, as everything would be priced in bitcoin.

[rizalp]

I don't agree with you

Bitcoin will never replace current fiat money as it is inherently flawed: price fluctuate too much, and favor early owner of it.

[tradersam]

> as it is inherently flawed: price fluctuate too much, and favor early owner of it.

These aren't flaws, welcome to economics, man. Once bitcoin gains enough things will be priced in BTC, so fluctuation won't be an issue.

Deflationary economics benefit the savers, while inflationary economics benefit the spenders. Just because bitcoin's economic model isn't something you're used to or like doesn't mean it is 'inherently flawed'.

[rizalp]

It is flawed because the pool of currency is limited. What happen when our economy grows fast, but then there's not enough BTC to support it? Price will decrease and benefit the savers, sure. But then many people will prefer to save instead of spending, which will not fuel the economy

[urza]

"which will not fuel the economy"

So you mean, like, people will not waste nature's resources for things they don't really need? Oh, what a tragedy!

[leereeves]

And that will never happen for the reason just stated: you can't pay taxes in Bitcoin.

[aussieguy1234]

At the moment. Surely govts will accept cryptocurrency for paying taxes at some point.

[wakeywakeywakey]

The reason to want people to buy in is to grow the space and incentivise vendors to build sophisticated services for it. Like with self-driving cars, a large herd benefits all members.