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
It was phrased as a question on purpose, to get you to think about it.
Your assertion is that no one would spend their Bitcoin on bread, and they’d instead use fiat currency. I’m asking you: why would they take their capital, regardless of what form it’s in, and spend it on bread, if they knew they could hold onto that capital and it would appreciate in value?
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.
I don’t understand your comment then. It reads that people should stop using dollars to buy stuff like bread and just buy bit coin instead.
It was phrased as a question on purpose, to get you to think about it.
Your assertion is that no one would spend their Bitcoin on bread, and they’d instead use fiat currency. I’m asking you: why would they take their capital, regardless of what form it’s in, and spend it on bread, if they knew they could hold onto that capital and it would appreciate in value?
The answer is very obvious: they need to eat.