You are viewing a single comment's thread from:

RE: Who here uses Bitcoin for regular transactions (not trading)?

in #bitcoin7 years ago (edited)

I was using Bitcoins (through mycelium, and some extent Core) to pay my son for doing house-work, sending and receiving money from my friends, spent some on charity, donating to mediawiki, I was buying stuff online, etc. Not anymore - and so far I haven't started promoting any alt-coin to replace bitcoin. Nowadays I'm only "trading" with bitcoins. (My strategy is to be a market maker in the domestic market and take a bit of commission on both sides - it has worked out great compared to holding fiat, but terrible compared to hodling bitcoins, and sometimes I've also been borrowing bitcoins and going in minus due to that).

I'm really quite worried, I believe the value of bitcoin is based on its promise as a viable means of payment. Once it cannot be used as payment, the only value left is speculation. An asset having no value except people buying it speculating that the value will grow even further ... well, I'm a bit concerned Bitcoin is heading for a role as"digital tulips".

As compared with alt-coins, Bitcoin gets it's value from the network effect, the brand name and arguably the strong security offered by miners. Bitcoin Cash doesn't have that. Most supporters of Bitcoin Cash hopes that Bitcoin Cash will overtake the role of Bitcoin. I think that if Bitcoin will experience a tulip-style market crash, it will be terrible news for all crypto, money will leave the cryptos in general.

Sort:  

yep, and Peter Schiff will be gloating that he was right.

lan piç sen milletten ne istiyorsun bundan gayri birine daha kırmızı bayrak göster ananı sikerim

Coin Marketplace

STEEM 0.22
TRX 0.27
JST 0.041
BTC 104060.88
ETH 3871.70
SBD 3.28