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RE: Bitcoin as money? Skepticism...🤔

in #bitcoin7 years ago (edited)

I give a try to an answer, I am no expert but I think I understand what you are saying. This is my understanding to what you wrote.
First: Money is something people belive in and that give value, also it has to have limited supply and can´t be reproduced to keep the value.
Bitcoin is backed by peoples belifs that it has a vvalue and can function as payment, it also has limited supply to keep the value.
Compare it to gold as a value transfer item. Then look at the dollar, does that have that?
Dollar was backed by the belifs of gold as payment, instead the goverment wrote debt notes with the promise that for everry note there was gold to back it up, so far so good. Now the dollar is not backed by a piece of gold and can be printed at will by goverment or counterfeit ones. It no longer have the basic rules for being money more then the peoples belief that it is. So in that sence bitcoin is "more real money" then the dollar.
And with electric problems and no internet, most people use creditcards and banks, they don't funktions without this eighter. So if that happens you can probably not access bitcoin or dollar, you would have to go back to a hard asset like gold for value transfer. So I would say that bitcoin is more real money then any fiat currency. If you don´t use metals that is harder to use for small and big transactions.
Added:
When it comes to changes in price, I think bitcoin will get more stable over time. But the error is to compare the price to dollar. If you buy a car and then you can´t say to buy it for 1 bitcoin and say the price change in dollar.
If you agree then you pay 1 btc and that will still be 1 btc in a week later or a month later. If you think like that you can say you payed 1 btc for the car but looking at it a year later you payed the double price for the car.
If you buy for dollar that always goes down in value, you will pay more dollar a year later for the same car.
To make it more clear what i mean, lets say you buy a pair of shoes 2 thousand years ago, it cost you 1 oz gold coin and if you buy shoes today it still cost 1 oz gold coin. But compare it in dollar the shoe price changed a lot.