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by elvatoloco55 1953 days ago
The goal is for everyone to accept it, but bitcoin is still on a journey to become store of value and medium of exchange.
1 comments
chii 1953 days ago
it'd be a very long journey. the deflationary nature of btc means that people generally don't want to pay in btc, since it would be expected to become more valuable in the future.
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stale2002 1953 days ago
That doesn't make any sense.

My amazon stock that I hold is going up in value, and is therefore "deflationary".

But it would be silly to say that I would never have a reason to sell those stocks.

I sell things, whether they are dollars or stock or crypto, because I want to buy something.

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chii 1953 days ago
if you had 1 amazon share (worth $3286 right now), and $3286 in USD cash, and you wish to buy a $3286 computer, would you rather sell the share to obtain the cash, or transact using your existing USD?
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stale2002 1953 days ago
I would have no preference.

It's the same thing.

The only difference maybe, is regarding friction. IE, maybe it is a bit more difficult to immediately sell the Amazon stock at a store.

But transaction friction is different than the deflation argument.

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