Yes, the price. Is it consumption that makes bitcoin valuable, or value that makes bitcoin consumable? The first bitcoin purchase in history, two 🍕🍕pizzas worth 10,000 bitcoins in 2010, now worth $270 million, is now considered by most people to be a waste of bitcoin. If we had spent two pizzas in fiat money, they would have been part of our daily consumption.

Popularizing #Bitcoin consumption seems to be driving against the wind.

Reply to this note

Please Login to reply.

Discussion

The pizza situation happened 1 year into bitcoin’s life, the volatility will stabilize with adoption. Bitcoins characteristics make it both valuable and consumable/transferable. If paper money was backed by gold and never inflated, it would operate similarly.

💯