To me, Bitcoin and all the other Cryptocurrencies are "Commodities" which are constantly Fluctuating in Value... In my opinion, they do not make good Monetary Tools...
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To me, Bitcoin and all the other Cryptocurrencies are "Commodities" which are constantly Fluctuating in Value... In my opinion, they do not make good Monetary Tools...
Bitcoin definitely fluctuates in value.
Consider however, that if you use the blockchain only to move value, such as exchange Dollars to Bitcoin, move bitcoin from point A to point B, then move from bitcoin to dollars, your not exposed to volatility, you are using the blockchain to move value and effect immediate settlement. This is useful for large sums on bitcoin and smaller sums on Lightning network.
I believe Monetary Tools need to be Stable... Could you imagine a Measuring Tape that constantly changes from moment to moment...???
Important question and valid concern.
I always differentiate between Bitcoin and bitcoin.
The infrastructure of the Bitcoin Blockchain is stable, and can be used to transfer value around the globe instantly and with immediate settlement. However, bitcoin the asset or investment has a history of volatility, which makes vald any concerns aboyt it's use as an everyday medium of exchange.
Still... Once the Transfer is made, the Value could go Up or it could go Down... I'd prefer that the Value remained the same for years to come... Monetary Tools need to be Stable, Stable, Stable...
okay, no arguement there.
I have a one track mind...lol...
No problem, we all intensely focus on the thngs we are most interested in and i am intensly focused on public infrastructure