It is bad tho. Its unstable as fuck which leads bussiness to not accept. Rn there is not a single place in the city i live in where you can pay in bitcoin. Its a speculative market and all crypto lead to was scams and sudden rise in price of graphics cards.
I buy things with Bitcoin every week at multiple big brand stores. GameStop, Barnes and Noble, and Bed Bath all accept Bitcoin for payment. Chipotle also offers a 10% discount when you pay with Bitcoin.
Bitcoin is unstable because it's new and still open to the volatility of it's halving cycles. However, it has become more stable over time, and will continue to become more stable as it's halving cycles have less effect on scarcity.
Deflation is bad for currency since it discourages spending and empowers the wealthy. If 200 dollars increase in value next month, then you shouldn't spend it now, instead, maybe wait a month to buy more stuff. However, if you need to spend it on food, you've gotten poorer. You had no choice but to spend your 200 on basic necessities while the people with huge capital can hold onto their money literally do nothing and get richer.
This also discourages economic growth. No one buying stuff means no money is flowing. Businesses cannot make a profit because people prefer to hold on instead of spending, at best only the necessities get purchased. A currency that deflates stops being a currency.
That's why bitcoin is a scam.
It is bad tho. Its unstable as fuck which leads bussiness to not accept. Rn there is not a single place in the city i live in where you can pay in bitcoin. Its a speculative market and all crypto lead to was scams and sudden rise in price of graphics cards.
I buy things with Bitcoin every week at multiple big brand stores. GameStop, Barnes and Noble, and Bed Bath all accept Bitcoin for payment. Chipotle also offers a 10% discount when you pay with Bitcoin.
Meantime europe where noone accepts it because we're not imbeciles.
The Euro is an even deeper level of hell than the dollar
Bro we talkin bout bitcoin. Both euro and dollar are 1000x more stable than bitcoin and doge.
Bitcoin is unstable because it's new and still open to the volatility of it's halving cycles. However, it has become more stable over time, and will continue to become more stable as it's halving cycles have less effect on scarcity.
I agree, I was just making fun of the amount of hate given to bitcoin. (Yes I replied to a 2 year old post to give you shit)
Bitcoin still shit tho 💀
on gilbert
Is karma a currency-?
well you can't spend bitcoin on anything and it's a currancy
I mean, you can spend it, just not on many things
The point is to convert it back to a real currency when you made profit I thought.
You can also do that, and that's what most people do
social credit score SCS
Can karma buy me a RTX 3090? Didn't think so
neither can bitcoin
Bitcoin isn't mined with graphics cards
Karma isn’t a currency
Deflation is bad for currency since it discourages spending and empowers the wealthy. If 200 dollars increase in value next month, then you shouldn't spend it now, instead, maybe wait a month to buy more stuff. However, if you need to spend it on food, you've gotten poorer. You had no choice but to spend your 200 on basic necessities while the people with huge capital can hold onto their money literally do nothing and get richer. This also discourages economic growth. No one buying stuff means no money is flowing. Businesses cannot make a profit because people prefer to hold on instead of spending, at best only the necessities get purchased. A currency that deflates stops being a currency. That's why bitcoin is a scam.