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by ankurpatel 1829 days ago
In order for bitcoin to be used as valid currency it needs to be pegged to the local government issued fiat currency. If BTC fluctuates so much would you like a coffee or groceries with it knowing its value can be half or double tomorrow. Real question to ask yourself is have you used it to buy anything in the real world with it.
1 comments
X6S1x6Okd1st 1829 days ago
I have yeah, that was a long time ago when I believed in Bitcoin as a currency and it's use in payments.

I don't particularly believe in bitcoin anymore, but that's only relative to other cryptocurrencies like Ethereum.

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ankurpatel 1828 days ago
Right which proves the point that you believed in it and once it was practically put to use you see it is not practical anymore. Why use a currency that is not practical for day to day activity.
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X6S1x6Okd1st 1828 days ago
I continue to hold a small amount of bitcoin as a speculative investment. I hold much more ethereum as a speculative investment or to get yield from DeFi.

I am happy to pay and be paid in cryptocurrency, but I wouldn't want to allow my rainy day fund or funds set aside for specific purchases (i.e. maintaining continuity of life/business) to have exposure to the extreme volitility that cryptocurrencies have.

Just because one of the many potential use cases of cryptocurrency doesn't seem to be panning out very well doesn't mean that the other use cases are invalid.

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