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February 24, 2019, 09:03:04 AM |
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Why would anyone really want to use bitcoin, or any crypto for that matter, as a medium of exchange when they anticipate, as most in the community seem to, that the price will just keep appreciating? Less than a month ago bitcoin was worth, in dollars, around 3.2k. Today it's 4.2k. So in a month the dollar value of bitcoin has appreciated by around 30%. That's a substantial increase in such a short space of time by any investment standards. A store of value where the value just keeps on rising like a hot air balloon! So bitcoin holders, believeing that this is what happens as it often does if you have a long term view, are far more likely to retain their bitcoin rather than exchange it for pizza or shoes!
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