22m volume
haha
Like most people, they are not going to spend their
BTC to buy things in fact they are going to buy it with fiat, that's what I did. They realized that
BTC too valuable to buy things with right now
Why didn't you buy things with BTC then immediately replace the BTC that you had just spent? The USD value of BTC is very stable at the moment, so there is no risk in the short window of time involved.
The reason is that there is no utility in using BTC at the moment. We have tiny volumes of BTC transactions at the very peak of the online spending calendar, just before Christmas. Perhaps BTC will be useful to consumers in the future, but clearly it has no value at all to them at the moment. Not even for the most ardent believers in Bitcoin, such as you, 'bitcoinbelieve'.
I invested large portion of my saving into bitcoin and I don't regret it all b/c I realized that there is more upside than downside. In my opinion, I value bitcoin more than the fiat due to fact that it (value) WILL go up in the future as to fiat where the inflation is going to eat away the purchasing power.
I'm not sure if you are miner or not but it takes me at least a month accumulate 1 btc (running 24*7), the reason why I brought this up is that I'm not going to buy items with bitcoin b/c it will be stupid. It is cost effective to buy stuff with fiat than btc (currently).
"Why didn't you buy things with BTC then immediately replace the BTC that you had just spent".....That doesn't make sense, why would I incur fees when I could avoid it in the first place. To those who don't know, there is small fee you have to pay when you deposit or withdraw btc to fiat or vice versa.
Bitcoin is well undervalued for various reason but main contribution factor I believe is lack of infrastructure and also lack of mass adoption.
