You are viewing a single comment's thread from:

RE: Hive - Intersection of Liberal Arts & Technology

in LeoFinance3 years ago

When I say money, I don't mean currency. I know we use these words interchangeably, but they aren't necessarily the same thing. Think of money as a property that can be exchanged but holds its value over long periods of time. Value doesn't mean price either.

Prices for everything changes over time and that's due to the inflations and weak properties of the currency. While currency is something we use as a medium of exchange on daily basis, when it is backed with stronger money, like gold it too can hold its purchasing power for longer than currencies that are not backed with anything except for government's promise and national economy.

Sure bitcoin's price is volatile but in a long run it holds its original value and continues to appreciate in value due to its scarcity, which is one of it features that makes it better money.

Bitcoin doesn't need to improve. It is Valve/Steam that needs to improve. Just because they weren't competent enough to properly implement the technology doesn't mean it was bitcoin's flaw.