Do pro-bitcoin people still talk about goals of bitcoin being a currency that people use daily?
I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.
replies(12):
Do pro-bitcoin people still talk about goals of bitcoin being a currency that people use daily?
I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.
Why would anyone spend a single BTC/sat. if they know it could be worth 10x more in a few weeks/years?
Because they need toilet paper today.
While people will always need to buy the essentials, I do buy that a deflationary currency could discourage discretionary spending. Maybe people are slightly less likely to splurge on a big purchase or a nice dinner. I don't know what the delta would be in GDP growth compared to now; it certainly could be negligible.