41–45 of 45 posts
Serious question: why would one buy Bitcoin except for holding on to it? That seems like a very unhealthy reason imho...
I'd take pay in bitcoin as payment for work anytime over last 5 years because of stupidly high cost of international money transfers. Unfortunately nobody wanted to pay me like that because apparently it was harder for accounting.
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Penny stocks are generally not scarce (You can buy a lot of them) not durable (Companies tend to go bankrupt). Gold would be a better analogy.
People can't create new types of gold by taking an open source coin and forking it...
Bitcoin is unusable for any transactions and has been for some time. That's why the shillers are calling it a "store of value" now.
if you have 9k dollars and you don't need to spend it on something, and you want to save, what are your options, keep it cash, will only loose its value (maybe less in US but in other countries yes with 7% inflation), you would pay bank fees, and the money would do nothing, buy gold, is complicated, you need to make a contract, again pay fees to hold it for you, buy real estate, is to little money, buy stocks, is com…
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Indeed, 7 day moving average of confirmation time is currently 107 minutes. This has gotten as high as 440 minutes, making Bitcoin utterly useless as a transactional currency. It's basically just e-gold now.
Of course, the reason the Bitcoin confirmation time is so high is because it's processing more transactions than every cryptocurrency except Etherium...