Satoshi was wrong, at least for now. Crypto will never become a medium of exchange, but it can become a store of value like gold. I used to be a BCH lover until I realized this.
The high transaction fees are INTENTIONALLY designed as a disincentive to move money around.
There's a reason we don't use the gold standard anymore. Governments want to control money completely, but we still invest in gold as a store of value.
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wtf?
>make money hard to use so the govt cant control it
wtf?
I buy my Gold from Rosland Capital. If you can't hold it, do you really own it?
how in the hell is decreased liquidity and an ever clogging transaction backlog part of satoshi's vision? or any smart persons?
it's not. but satoshi was wrong.
bitcoin is the new gold. bitcoin gold.
if anything, transaction fees should be higher and transaction times longer.
store of value my friend.
Then something still needs to be invented for spending. Cash my friendo
>The high transaction fees are INTENTIONALLY designed as a disincentive to move money around.
No shit. That doesn't automatically make it digital gold.
Cryptos work best as currencies. If Bitcoin was meant to be a store of value nobody would have bothered. You can use gold for that. You can't transact as easily with physical gold, that's where Bitcoin is supposed to step in. I bet all the vendors who decided to accept Bitcoin are just thrilled with the confirmation times and tx backlogs. At least Bitpay and others know what the fuck they're doing.
Bitcoin is better than gold as a store of value because the government can't just seize it, and you can easily take it with you wherever you go. It's gold you can control without having to go to great lengths to physically secure it.
>Cryptos are meant to be a store of value, not a currency
This retarded meme needs to die, if I knew who came up with it I'd murder them. pushing that as an excuse for the problems arising from network congestion has done nothing but hold things back. I remember when I first got into crypto, it was nice and fast to transfer and I could buy things pretty quickly while using mixers to hide my trail. Now its awful.
Why not just use a blockchain backed by real gold and get all the same benefits with real value behind it?
If bitcoin is nothing but a store of value and "digital gold" let me tell you exactly what is going to happen. First there will be a crypto that actually functions as a currency and it will surpass bitcoin with a marketcap in the trillions. Second once bitcoin has a real bear market it will likely never recover. Good luck convincing people to buy back into bitcoin when price has been tanking for months because "muh store of value". All the hodlers that just bought this year will end up underwater when the price goes sub 2k. Have fun with that.
Ethereum has rendered bitcoin obsolete.
>The high transaction fees are INTENTIONALLY designed as a disincentive to move money around
this post is so bad I'm gonna assume it's a false flag cashie
if you use windows that "digital gold" can be easily secured by any government
Who holds the gold its backed by? Kinda sounds like a recipe for digital fiat at that point
It was not intended to be a store of value. We are just calling it that because it failed at achieving its original intent and can't come to the reality that it did so.
look Puerto rico, no energy at all, no bitcoin, in the wild times bitcoins are nothing, gold is forever, wtf you gonna inherit to your kids in the mad max future
>crypto for further tech
>gold for zombie apocalypse
The absolute state of Corecucks.
Veeky Forums overvalues technical merits of crypto
t. never read the white paper, or any white paper
neo has no fees and transfers almost instantly ato any place on earth, btc is not the only one out there
>Veeky Forums overvalues technical merits of crypto
kek, if only this were true
Do you guys even read before comenting stupid shit? He litteraly mention how it could be like gold
"Let us call a bitcoin bank a bink. The bitcoins stand
in the same relation to account money as gold stood in
the days of the gold standard." Satoshi Nakamoto
November 2008
metzdowd.com
Check out Andreas Antonopolous' video streaming money.
We are going to have the best of everything just by using Bitcoin
i have bags of bitcoingold i can't dump on any damned suckers at all because I don't want to sign up for fucking binance.
also this idea is retarded
"they can't just seize" lol says who? all they would have to do is confiscate all your hard drives, or lock you up until you confess. if they were at the point of taking people's shit then they will do it one way or another you dumb fuck
Its a lot easier to hide, we already have a real world example of this in Venezuela where Venezuelans have been using crypto when their comunist government started trying to seize all their assets.
nice b8 btrash
Medium of exchange will come with LN and segwit, NOT bigger blocks you deft cunts.
yes user, leave the transactions to us, you don't have to worry about the entire point of crypto, just think of it like paypal. why would a public ledger matter :DD
that's why VIA exists
Best of luck losing all you money ;)
>First there will be a crypto that actually functions as a currency
There is, and it's called ARK. 8 seconds transaction time.
yes, you do. ownership is literally the abstraction of holding so the exclusivity of using a certain object can have permanence even if you're not occupying the same space.
also contracts and what not you bafoon.
well they cant without some serious coercion and you can just kys the government cant get yoir bitcoins literally until the heat death of the universe
look how hard the surveillance is on CP, it wouldn't be hard to destroy any means of using it, not that you can right now anyway
muh store of value meme.
Just admit that bitcoin right now is utter shit and we have been in a mania last couple of months
>using windows
If you need to flee the country, a thumb drive, hardware wallet or a piece of paper with an encrypted private key are all a hell of a lot easier to smuggle out than several kilos of gold. Or, if you're paranoid and dedicated, you could memorize your private key without ever having recorded it in any other fashion.