Subnostr

Not only bad for fiat. At the end of the day if you can't buy anything with bitcoin for example, then it has no value for you, then it can be spiraled to zero.

Laeserin 1y ago

Well, that's the same with any commodity. If silver or oil loses all value to anyone, including as a currency, then it can't be used in trade and completely loses its monetary function.

Bitcoin is actually sort of protected by that, as its value as a currency is not dependent upon some secondary function.

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Discussion

nami 1y ago

It depends on the bitcoin infrastructure which is not user friendly, but maybe people will simply prefere something else and bitcoin becomes irrelevant, who knows 🤷. For the moment so far so good.

Laeserin 1y ago

Too much energy trapped in it, to become irrelevant. It might have trouble being used for small purchases, tho. Sort of fiddly.

nami 1y ago

Lightning network is good for this.

Time will tell