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RE: WIN 500 SP - DISCUSSION: "Should Bitcoin Just Be a Currency or Store of Value?"

in #bitcoin7 years ago

For BTC to keep it's value, people have to want it.

For people to want it, BTC must have a use besides being a currency. It must be an asset. Why else would anyone care to have it? I dont have any Korean Won or Canadian Dollars and I'm fine with that. They have no use for me.

BTCs value as an asset derives from being the gateway currency to the crypto world and from additional usecases. The gateway part is being eroded away by services allowing to swap fiat for smartcoins or other cryptocurrencies, prominently Ethereum and BitShares afaik. Other currencies will penetrate the public concious and stand on their own. ETH already does that to a degree.

Only early adopters care about who created a market. Everyone else just wants the best offer.

So the main source of value would be usecases built on top of BTC. There is no way around that.