Why would I ever spend my bitcoins?
Let's assume that the Lightning Network is working and transactions are instant and the fees are low. Why would I ever spend my bitcoins to say buy coffee or groceries knowing that tomorrow it's going up 1%? Isn't that basically throwing money away?
Exactly, you can't cash out
Sometimes I have to cash a little out to pay the bills...
and then BTC goes up 200% in a month which means you overpaid on your bills 200%, or 1000% after a year, etc etc can't cash out
this guy apparently spent his coins so hard he has a negative balance
1BoatSLRHtKNngkdXEeobR76b53LETtpyT
can anyone explain to this pajeet how that happens?
When a BTC is 5 million a piece spending a 17,000,000 satoshi on a lambo will seem like a good idea.
He underpaid assuming he's been holding it for longer than a week. Sitting in USD would have been worse.
fuck i wouldn't mind knowing
Huh it’s almost like deflationary assets aren’t good as currencies
Unconfirmed transactions, they don't actually have negative balance, it'll just take a few hours for the network to settle legitimate transactions.
>Why would I ever spend my bitcoins?
You spend your Bitcoins when it becomes a worldwide currency and its value begins to stagnate
I should also say BTC is an old piece of shit and likely won't make it to that stage before being replaced by a better alt
Shh the goyim cant know that weve actually been protecting them, oy vey
Exactly, this is why till btc becomes stable it will never be used as an actual currency, because no one in their right mind will use this shit for everyday stuff
When it does stagnate though, it will be used
Why do you spend fiat on junk when you can buy deflationary assets with it and get more rich?
It doesn't mater if it's bitcoin of fiat the principle is the same.
>Exactly, this is why till btc becomes stable it will never be used as an actual currency, because no one in their right mind will use this shit for everyday stuff
also, the minute people realize this, it will freefall, and bounce around various resistance lines
>implying people care whether it's a currency
By the time it reaches that level of mainstream adoption, the growth curve will have leveled out to be much flatter.
I imagine you'll be looking more at like 10% gains a year or so, to just pull a number out of my ass. So it won't quite be as bad as "oh shit, that coffee i bought a month ago was worth 2k". More like a few cents lost.
Still pretty significant though. It'll deff change the entire economy. Not sure how a deflationary system would really work, or if it can.
Because you have to eat, pay rent, pay for utilities, transportation, medical bills, etc.
If you figured out how to do without those you're a bit too advanced for us mere mortals.
What else do you suggest I do?
Not pay my bills? Get a real job? user, please, lol.
It has to be used as a currency for the price to keep going up
people wanting to buy your bitcoins makes them valuable.
bitcoin is not nearly as good a store of wealth as gold because gold does not require technology to function as a store of value. However Bitcoin is vastly superior to gold as money and vastly super to fiat as a store of value. Core has deliberately increased fees and confirmations times to the point where bitcoin is worse than fiat cash as money
people buy bitcoin cash because it is a superior money to gold and fiat
tldr: store of value for a currency comes from people having confidence in the ability of said currency to be exchangeable in the future
unconfirmed transactions can be dropped.
> Why would I ever spend my bitcoins?
Because you need to buy food?
That's my point.
that'll be 21 satoshi sir
Don't spend them if you don't want to faggot. Nobody is making you.
Also, that is retarded "why would I spend my $ when I could buy Bitcoin with it"
Why are you so mad?
What happens when all BTC are mined? How would transactions be done?