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RE: One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week ... where is Bitcoin heading?
What will be the usefulness of a very expensive (its ~$6,000 now) digital money that only a few can afford? How can the average person compete with computer mining farms? What will be option once the central banksters decide they have had enough of cryptocurrencies?
The facial value is not related to the measure of expensive or not. Whatever the facial value of the Bitcoin (facial value is the value of 1 BTC. like the value of a 1USD bill) the way to know if a currency is expensive or not is the buying capacity you got. In financial, we use the Bigmac (comparison of the bigmac price in different country) to know if a country is more or less expensive.
As example, the euro value is 1 €, the PHP value is 60php = 1 €. The philippines money is "very cheap" 1PHp = 0.01666€. So the PHP is 60 time times cheaper than euro..... but
1 bottle of wine in France cost 2€ (120PHP). The same bottle in the Philippines cost 1000 PHP (16.66€).
Bitcoin will be expensive if the price of the goods (bottle, car, house, coat,... ) paid in btc is all the time the same whatever the value of the btc in Euro or USD. for example your bottle of wine cost 0.1 (2.5€ to 3€) btc in 2015.... and today the same bottle cost 0.1btc (570€)