But if Bitcoin is always going to go up in value, why would it make sense to spend your USDs buying goods and services instead of using them to buy Bitcoin and increasing the value of that capital?
But if they’re not buying things to buy bitcoin because they want to get returns off their bitcoin then they’re literally doing the exact opposite of buying things with bit coin
That doesn’t help with the buying things part though.
Why would anyone buy anything with it when tomorrow they could have bought ten of the thing they bought today?
Because people need things and to get them they have to buy them?
They’d be insane or desperate in extremis to use bitcoin though, given the volatility of the “currency”.
In the short term, maybe.
But if Bitcoin is always going to go up in value, why would it make sense to spend your USDs buying goods and services instead of using them to buy Bitcoin and increasing the value of that capital?
So we’re back to bit coin has no intrinsic value.
No we aren’t…
We’re back to: people would spend it in order to buy things
But if they’re not buying things to buy bitcoin because they want to get returns off their bitcoin then they’re literally doing the exact opposite of buying things with bit coin
I just explained why they would buy things. I said it twice, actually.