Post by
mrmomo on Mar 15, 2022 8:30am
Off Topic. Reply to GreenMonster333
GreenMonster333 wrote:
"Do you think Bitcoin has any chance of being used as a currency with such high rates? If not, what do think it will be used for (in other words, why would it have any value at all?)Any input on this would be greatly appreciated."
I'm just going to make a couple of points and expand a bit on some issues you brought up. One, i do not believe Bitcoin will ever be used as currency globally and/or with any meaningful adoption in its current form for several reasons. A few of them you've stated here. Due to Bitcoin being too slow & not having the ability or capacity to handle transactions on the scale of Mastercard/Visa, it could never be used as a wide scale replacement for currency. In addition, the costly nature you've indentified is another big reason. So for now, a resounding NO it can never be used a wide adoption to replace something like the American dollar. But that doesn't mean that some significant changes to the core programming of Bitcoin or something else cannot make that viable.
So what's the value in holding something like Bitcoin, if not for some type of currency? Well, good question. I clasify it as an asset class or property as many others do and therefore it has some great value & advantages in that regard. For many it could be a replacement or alternative to something like Gold or Art, maybe even real-estate. Especially for anyone under 40 and wants to be very mobile across the board. This is NOT for the old world being controlled or lived by the folks now, it will be for the new world being built in the next 50 years for the younger generations coming up.
I hope this helps. PM me if you require more info or seek an investment in that area.
GLTA