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Most of the criticisms in this thread seem to be missing that Bitcoin is only layer 1. Bitcoin isn't Visa or cash - its gold. Rather than shipping gold across the Atlantic, large institutions will settle in a few minutes in Bitcoin. L2/L3/L4 solutions (built into Apple Pay, etc.) will allow for instant payments for coffee, allow for privacy similar to physical cash, etc.

Before this is possible, the price has to stabilize. Just takes time to go from $0.1 to $10M per coin. Once Bitcoin has eaten all the "store of value" value & only appreciates at the rate new wealth is created, L2/L3/L4 solutions will go mainstream.

discuss

toyg|5 years ago

Except Bitcoin has no way to “stabilize”. Without central banks’ intervention and governance, even regular currencies would fluctuate like crazy. Unless the bitcoin world can come up with a Federal Reserve / ECB equivalent, it will continue to be a wild ride, which will effectively impede further uses. It will always be a speculation vehicle rather than a store of value.

bconnorwhite|5 years ago

I think the difference is that currencies fluctuate against each other, whereas if everything is priced in Bitcoin, its whatever you're pairing it against that's fluctuating. Goods (ex: loaf of bread for 200 satoshis for example) would stay stable

Kaze404|5 years ago

It's been 12 years.

ZguideZ|5 years ago

12 years is nothing.

unknown|5 years ago

[deleted]

bconnorwhite|5 years ago

I can't tell if you're agreeing by saying "its only been 12 years," or if you're disappointed by a 10 million % appreciation in 12 years

NicoJuicy|5 years ago

Bitcoin ain't sold. Gold had it's value being tradeable offline.

bconnorwhite|5 years ago

Price action would seem to agree with your typo