Ask Anything on Sidechat | Can BTC be a currency, if no one wants to spend any, because they believe it’ll be worth more later?

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Ask Anything 2w

Can BTC be a currency, if no one wants to spend any, because they believe it’ll be worth more later?

26 upvotes, 9 comments. Sidechat image post by Anonymous in Ask Anything. "Can BTC be a currency, if no one wants to spend any, because they believe it’ll be worth more later?"

Anonymous 2w

Currency implies something that can be universally accepted and retains relative value over time. Any currency which fluctuates rapidly and isn’t accepted generally without conversion cannot be universal. If BTC wants to be an actual currency, these two problems need to be solved. Otherwise it’s a hard no.

Anonymous 2w

No it’s one or the other. A currency or a reserve of value that people buy only to sell to someone else who can buy it for more. It can’t be both.

Anonymous

#1 2w

As long as people buy Bitcoin just to sell it later for dollars, it can never replace dollars

Anonymous

#1 2w

It absolutely can and XRP will replace the financial system as a whole

Anonymous

#2 2w

Currency needs to be stable to be currency. The main reason anyone buys bitcoin is for dollars. Bitcoin and XRP are speculative assets and have always been wildly volatile, and will never stop being wildly volatile.

Anonymous

#1 2w

Mmmmm hopefully you get in on xrp before it’s too late!

Anonymous

#2 2w

i think btc can

Anonymous

#4 2w

Bro I called out silver breaking 50 and shooting through 70 within the next year when it was at 35 dollars, I’m telling you from what I know the markets are going to crash, XRP is FAR better than bitcoin in every way and will be used as a centralized currency! Silver is now at 103!! And it ain’t stopping the climb anytime soon!

Anonymous

#2 2w

can u mentor me