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by IkmoIkmo
1700 days ago
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Accepted and used in 99% of every real-world transactions by the biggest economy in the world, used by 99% of the merchants and 99% of the citizens in this economy. But I'd say that perhaps it's not the best comparison. Few people are looking to purchase dollars for the sake of holding them as an investment. There's of course tons of volume on Forex markets for hedging and speculation, but regular citizens aren't looking to purchase dollars for investments, i.e. in order to generate a return on dollars-held. Typically people use dollars as a medium of exchange and the way in which prices are commonly expressed. But anyone with sufficient dollars will want to use them to hold assets, whether they're a home, stocks, or simply low-risk treasury bonds, the idea is that dollars give access to these assets, but few are looking to simply buy and hold as many dollaras as they can in order to generate some kind of a return. Bitcoin is also a technology in a way that the dollar isn't. The dollar is an idea, backed up by lots of different technologies both analog or digital. Those technologies don't necessarily have much to do with the price of the dollar. Nor do dollars have to have a certain price for them to be used, in a way that for many years, people expected individual bitcoins to be value (and thus naturally to go up in price as demand for these tokens went up) because the tokens would be used in various technological applications... That hasn't materialised, which makes the increasing value of the tokens somewhat non-sensical. |
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That's attention economy, isn't it? I imagine people who own a few USD aren't as interested in it compared to people who hold a lot of USD.