Will bitcoin hold its value as an asset used for preservation of wealth even if another alt-coin becomes the main coin used in real world transactions?
Bitcoin has a low 20 million coin cap, which should mean that it will increase in value over time as scarcity increases. However, Bitcoins transaction speeds are much slower than other coins such as Ethereum or Cardano, which makes it less attractive for real world exchanging of goods and services. Do you think in a scenario where, for example, Ethereum became the choice crypto accepted as payment, Bitcoin could still function as a store of wealth like gold? What do you see as Bitcoins main use in the Future?
[NOOB] How/Why do you think cryptos (mainly Bitcoin, since largest) will replace normal currency? It is always compared to other currencies in value and while trading, and I've heard that the total Bitcoin in circulation is fixed (20 mil right?) . Isn't that a disadvantage?Money will never increase?
Another disadvantage is the fact that the value of one Bitcoin is so high. Like how do you manage to say 0.00001 BTC every time? Shouldn't currencies be in hundreds, thousands? There should always be something for BTC to be compared to right? A traditional, paper currency? Only then will the value fluctuate and trade happen? You don't have to actually answer them if this question is common on this sub. A previous answer, articles or video is good for me too.
It appears that Warren Buffet cannot differentiate Bitcoin from any of the investments he has made in the past. His main gripe seems to be that BTC does not produce anything and therefore it has no value.
There are many reasons to buy silver with Bitcoin. The main reason has to do with diversification. While Bitcoin has been dubbed a “digital gold,” precious metals such as silver and gold have been considered money and stores of value for centuries.
What would happen to bitcoin value if it becomes the main currency in every day tradings (like buying bread or water) ?
I guess it depends on the number & economic situation of the countries that would qualify, but I'm wondering about a situation where current main currencies like Dollars, Euros etc are replaced by bitcoin for international trades & then the money exchanges inside the countries due to yet unknown factors. What would happen then ?
Toqqn also adds a market for buying and selling digital services in the third phase of the project. This adds tremendous value to the native TQN cryptocurrency as a utility (which will be the main method of payment). #Ooobtc #obx #crypto #bitcoin #ethereum #blockchain #btc #toqqn
Bank of China reviewed the history of cryptocurrencies and figured out the main value of Bitcoin
Bank of China published informational materials on its website in which it reviewed in detail the principles of Bitcoin functioning and the reasons for its value. This publication is a further report on the history of Bitcoin since the 2008 White Paper was released. The following refers to the creation of the Genesis block in 2009, the purchase of two pizzas for 10,000 BTCs in 2010 and other important industry events that have shaped the formation of new types of digital assets in some way. The story ends with the announcement of Libra. In addition, these materials indicate some of the factors that have a positive impact on bitcoin prices, with particular emphasis on their limited circulation, increased mining complexity, use as a medium of exchange and prevention of inflation. The authors of the publication also identified the negative aspects of the first cryptocurrency, including speculative risks and other aspects related to security. For example, such as the crash of the MtGox exchange and various episodes of stealing cryptoactive assets. Bank of China infographics claims that bitcoin is used mainly for international payments. This is due to the low transaction costs, when compared with traditional payment systems, and fast transfers. “Yesterday, Bank of China did what I never expect. He published an article about Bitcoin that explained the reasons why Bitcoin grew and the principles of work, ”said Samson Mow, director of security for Blockstream. In September last year, it became known that Bank of China took part in testing the payment system on the blockchain, which is being developed by the Central Bank of the country. # News # China # Bitcoin # Banks #Cryptocurrency #Positive #Blockchain https://preview.redd.it/lsq2cju5x7d31.jpg?width=900&format=pjpg&auto=webp&s=5e474c9739af86d2f2ef2b8bfffeaa749c6ee149
how can you trade alt coin with bitcoin as the main market when the value of bitcoin is changing
on exchanges such as bittrex, a lot of the alt coins only have a bitcoin market. how can you go about trading as normal when your trying to make bitcoin even though the bitcoin value is changing all the time, would this not interfere? for example, there was a dip in komodo, which on bittrex only has a bitcoin market. so i placed a sell order for when it gets higher in value. but if bitcoin were to drop in value, wouldnt the sell order go through? i dont see how bitcoin can be the main thing, i thought the idea was for people to buy and sell around usd for example. can anyone explain this to me better. thanks
03-23 16:13 - 'There's a huge difference between value and utility. I meant you have no proof bitcoin will become the main currency in the world. I wouln't call a currency highly successful until a country can use it for their day to day busin...' by /u/Optimise removed from /r/Bitcoin within 0-8min
''' There's a huge difference between value and utility. I meant you have no proof bitcoin will become the main currency in the world. I wouln't call a currency highly successful until a country can use it for their day to day business without converting it. This sub shows 1 million people have an interest in it, that's far off 7+ billion. I'm not against Bitcoin in any way but it is still in its early days and nobody is sure what the future will hold for it. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Optimise
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Some more proof that bitcoin core's advocates are moving away from bitcoin's "main value proposition"
Currently trending on bitcoin, this article: https://np.reddit.com/Bitcoin/comments/7d2fts/the_big_bitcoin_battle_what_i_found_out_about/ where you can read "BTC’s main value proposition is its decentralization, reliability as a store of value, censorship resistance, network effects, and being the “Digital Gold” of the internet age" and BCH’s main value proposition is that it claims to retain ‘the original vision” of Satoshi Nakamoto for Bitcoin to be a minimal-fee payment system, much like VISA or Paypal, and to be the Digital Cash of the internet age anyone who red the white paper knows that bitcoin is " A purely peer-to-peer version of electronic cash ", ie BCH
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