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May 17, 2020, 01:09:11 PM |
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Still 2020 and people do not get the idea behind Bitcoin and the Block Chain. But I kind of understand why most are so confused out there.
When, taking fiat currencies as an example, there was inflation making money worthless after few hours, people rushed to get rid of those bank notes in exchange of food because hours later that same currency was worthless. In the case of BTC, it is hard to let go of some of them because of the contrary, we know it is increasing in value due to its deflationary conception and the fact that the price still does not reflect the real value.
I would say that the real value must be like 1 satoshi = 1 dollar, not because Bitcoin is more valuable but because fiat currencies will be almost worthless someday. Like the analogy of the spoon in the first Matrix movie.
And the only way we can see more transactions today is by asking fixed amounts in Bitcoins for a service or product, even if the counterpart in fiat currencies is much less. Of course many will not agree to this, but it is actually the only way you can increase your stash of Bitcoins in relationship to the total amount that will ever be in circulation. The idea is that all transactions remain in Bitcoins, you do not need to think about trading them away, you need to contribute to the Bitcoin Economy so all transactions remain there, the longer we remain exchanging BTC in and out the real power of them will not be fully revealed.
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