[api]

Maybe they are bag holders.

I am still long term somewhat bullish on the tech but I can't see any of the current generation working beyond niche use. Its not just efficiency but also economics. They are significantly more deflationary than gold, meaning there is never any incentive to do anything but speculate on them. If they gain any utility they will "moon" again and the resulting price instability will once again drive off everyone except speculators.

[ucha]

Bitcoin has plenty of issues but being deflationary isn't one of them. Real estate is deflationary and people do not refuse to trade land.

[calciphus]

Lots of people refuse to trade land because they think it will be worth more in the future. Look at the housing markets of major cities. And that is when you have a highly localized set of potential buyers.

[asynchrony]

Real Estate has a certain real world utility.

[api]

Land would make extremely poor money.

[avar]

Whether it's deflationary or inflationary in the long term doesn't really matter for the purposes of whether it's useful as a short-term transaction medium for conversion into fiat on both ends, which is presumably the use-case for the Cash app.