Not saying coins are used to buy commodities but that the coins themselves, Litecoin and Bitcoin , are themselves a commodity , meaning they serve the same purpose , to transact for products and services akin to fiat. Bitcoin being your 100 dollar bill, litecoin being your 20 dollar bill. It really does not matter which coin you are paid in, it's not like you will need a wheel barrel to haul away the currency.
BTC and LTC in 10 years will be used all the same...
- Thread starter Andre@Krypt0
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My thought on this is that VISA is not an end to end transaction, in a VISA transaction, end to end would be once the customer pays their credit card bill and fiat is debited from their bank account. How long would that transaction take? 1 month?
i havent seen money printing for the poor! i have seen money printing for the wealthy stock portfolios..lol. they dont print money for the poor..hilarious
No paper currency has intrinsic value anymore. We went off the gold standard a long time ago. Maybe you missed the news.
With covid, no one wants dirty cash or plastic cards. This is why coin is rallying.
If Square or Paypal or Tesla puts their corporate balance sheets into bitcoin, there will be adoption. It is like everyone opening a facebook account. You can cry that you will never open one, but guess what, you are just one person. No one really cares. It is the masses that determine the value.
Obviously BTC won't be widely used for transactions, nor will other cryptos. Why would they be when plain old dollars work just fine, and in many respects much better?
I think BTC is likely to still be around as a portfolio diversifier / inflation hedge, just like gold. But that doesn't imply anything about its absolute price level; gold endured a 20+ year bear market after the 1970s bull, and for that matter is only marginally higher from decade-ago levels.
I think BTC is likely to still be around as a portfolio diversifier / inflation hedge, just like gold. But that doesn't imply anything about its absolute price level; gold endured a 20+ year bear market after the 1970s bull, and for that matter is only marginally higher from decade-ago levels.
The trend of companies which are not actually in the crypto or payments space placing corporate cash in BTC will ultimately be seen as a preposterous sign of faddish bubble excess - just as in 1980s Japan, when many companies jumped into real-estate speculation and for a time made a killing, at least on paper.
That said it seems like a trend which has much further to go, as so far the amounts are small. When SoftBank reveals that they've invested a quarter of their assets in BTC, it's time to cut and run.
BTC or any other crypto is way too volatile at this point to hedge anything, until the crypto market reflects some notion of stability this is purely a speculation bet, that time will be near when LTC approaches the valuation of 1/4th of BTC market cap as reflected in the ratio of total coins mineable.
...Bitcoin is not scalable, thus useless for the masses as a currency. future of money my ass...
Very easy to build a payment network on top of any blockchain, scaling payments is easy , scaling blockchain is not.
VISA is a payment network, dollars are the currency. You would scale the payment network, not try to scale the dollar. Hope that makes sense...
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