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[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.
Bitcoin constantly outperforms other assets including various other emerging currencies - many emerging currencies still outperforming gold, real estate, though only bitcoin is outperforming as compared to risk, reward, and results from the M2 supply of many countries
Financial Times Basher video, Bitcoin's relevant number is zero. All this video is telling me, that Bitcoin is undervalued. Thanks for summing it up. Compared to the economy and other currencies it's trading much too low
Bitcoin mentioned around Reddit: Would a bitcoin (or Elastos or some other crypto) standard for currency actually work? What would the pros and cons be compared to a gold standard (assuming we had enough gold to somehow return)? /r/AskEconomics
Bitcoin trading volume shockingly low compared to other currencies (e.g. Swiss Franc)!
Bitcoin has a record of $21 billion traded in one day. Swiss Franc has a record of $10.67 trillion ($10,670 billion) in one day (normal average around half that). Swiss Franc is often considered a "safe" haven, much like gold, when the economic markets are shaky. If Bitcoin replaces both of those, things will get interesting...
12-02 03:42 - 'But Lightning is not here yet and in the mean time Bitcoin Core is slow and expensive compared to other crypto currency, so why would people choose a payment system that does not exist yet over one that already exist? Like I s...' by /u/Kain_niaK removed from /r/Bitcoin within 1-11min
''' But Lightning is not here yet and in the mean time Bitcoin Core is slow and expensive compared to other crypto currency, so why would people choose a payment system that does not exist yet over one that already exist? Like I said, the debate is not about offchain transactions. The debate is about what the first stable layer looks like before you start building on top of it. Right now that base layer is already pushing people away because of long confirmation times and high fees. This will lead to an ecosystem where directly building on top of the base layer is not for everybody, only the bitcoin rich. Then if new comers want to build a business on top of Bitcoin they are forced to go through a offchain solution because otherwise it would be to expensive for them. While if you keep that base layer open for everybody in the beginning, when use adoption is still low, you get the opportunity for many many different systems to be build on top of Bitcoin. That will keep offchain system decentralised so nobody can get a monopoly on a offchain system. As long as there is not the Bitcoin usage that NEEDS scaling, offchain is a pipedream and a blocksize increase as simple as changing some code and finding the consensus for it. And by the time Lighting is there, Bitcoin will have pushed people that want a payment system to other crypto and then Bitcoin will be a settlement system and a store of value ..if it can retain that value which is going to be hard without the use for it (it's not a soft shinny metal that does not rust) . But maybe when all the banks and governments see it's pointless to fight crypto they will embrace it and make Bitcoin core at the center of that. Then Bitcoin will again be something for the elite. Technically for everybody but realistically only for those that can afford it. But by that time the people will use a crypto that does for them what they want. For example: I like to be able to directly pay online and tip people on social media. And send funds to my family directly,, that they can use to buy stuff with. Bitcoin core is no longer on it's way to become this tool I am looking for. But that's okay, there are alternative. Right now I even prefer Ethereum over Bitcoin Cash bcause confirmations are faster. As for it being centralized, that's only a problem when it will actually be attacked. And right now crypto is still way to small to pose a significant threat to any government or bank. And Ethereum is still decentralized enough, before it becomes a threat it needs to grow and when it grows it will become more decentralized just like with Bitcoin. So that's a problem that fixes itself. Something decentralized in software and something decentralized in human beings is completely different. There can be 5 million Bitcoin nodes online but if 4 million of those are operated by a group that listens to a single guy then it's decentralized on a technical level but not on a political level. Anyway, crypto is survival of the fittest so time will tell what the right way of going forward was. It's all unexplored territory so nobody has a goddamn clue, we have not been here before. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Kain_niaK
In particular, Bitcoin has been compared to a limited number of other asset classes (Brière et al., 2015; Wu et al., 2014). 2.3.3. Technology-based products. Other researchers have discussed cryptocurrency as a technology rather than a currency (Maurer et al., 2013). Technology-based product diffusion curves present a unique signature, which ... Bitcoin cash is a standalone digital currency, created as an offshoot of bitcoin in August 2017 by a ‘hard fork’. This was in response to the slowdown in bitcoin transaction speeds and the network’s inability to reach consensus on proposed upgrades. Bitcoin cash’s maximum block size is 8mb, compared to 1mb for bitcoin, enabling it to process more transactions each second. Bitcoin is widely accepted as compared to Bitcoin’s other cryptocurrency types. It’s is easier to liquidate. Cons of Using Bitcoin. It fluctuates often and doesn’t promise a fixed return. It can be replaced as the top cryptocurrency. It’s known to be used for illegal transactions. 2. About Bitcoin Cash (BCH) Bitcoin Cash emerged after the split of Bitcoin. The differences were reported ... In other words, not only do altcoins have to compete with Bitcoin itself, but they have to compete with all the entrepreneurs looking to build something on Bitcoin. Hence while hedging may make ... Comparing Bitcoin, Ethereum, and Other Cryptos. View the high resolution version of today’s graphic by clicking here.. Unless you’ve been hiding under a rock, you’re probably aware that we’re in the middle of a cryptocurrency explosion.In one year, the value of all currencies increased a staggering 1,466% – and newer coins like Ethereum have even joined Bitcoin in gaining some ...
How to Withdraw in Crowd1 and Convert Bitcoin to other ...
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