RE: My defence of 'The guy that spent 10,000btc on two pizzas', in honour of the anniversary
User fees? A few cents per transactions haha. Big deal. Bitcoin is the new Gold to store value for the long term! It's mainly for high level investors. It's pretty obvious that the more people that use something or talk about something in the media the more it will be used. And it's pointless to look at graphs from 1 year to another. Graphs are useless in that regard. You have to look at 5 year timeframes to get some real understanding where things are going. Clearly more people are using their phones and clearly Banks are slow and outdated for transactions and they take way higher fees!
Also you have to understand that the Fiat currencies devalues everyday because of something that we call inflation. So it will always be worth less until it becomes completely useless. This can not happen with Bitcoin since it comes in a limited supply. Just as Gold. That will say it's a scarce resource/asset. That will say the demand for it will go up as time goes on. Will probably hit 5 million US dollars eventually. But then you may not even be able to buy a house with 5 million US dollars.
A few cents now yes, because no one is transacting..What was the fee in December? Yes, Bitcoin is scarce, but so is my Token poopshitcoin which there are only 1 of. I made it as an ERC20 token. Very scarce. But what is its value? What gives it value? It's scarcity?
That being said..
To be "taught" by a teenager what inflation is really sets the bar :D lol. "Because of something we call inflation"..wow..applause. Just making you aware that you are acting very patronizing when you assume I don't know what inflation is.
So I won't bother to discuss with someone who don't think I know what inflation is, and frankly, you should not talk to someone who you don't think understand what inflation is.
However, if you wrote like that "something WE call inflation" like a little douchebag you did that just to be a douchebag. In which case I will give you the finger and hope you learn some manners in the future. Because I sure wont be teaching you manners! :D
So just because the fee goes up 1 month out of 120 months that is a big deal? Please. It went up since the demand went up. But that is not the normal state of Bitcoin. People use value and it has big players behind it. That gives it scarcity and value. People know about Bitcoin and it has proven to be a hit. 😃
What you say makes no sense..is it even an arugment? For what?
Fees went up to absurd levels (60$) In January when prices were 18-20k per Bitcoin. Now, almost all interested in Bitcoin has dissapeared and the fees are still stupid high ($1,5USD) You also remember what happend back then? People stopped transacting bitcoin and sending bitcoin because there were long queues and high fees.
People stop using it and yes, of course fees fall. So that is the normal state of Bitcoin in your opinion? No one using it. Ok. So why has it value again? Its a coin that no one uses and is scarce. Just like my shitpoopcoin :)
Its pretty obvious that you are shilling Bitcoin. You don't answer questions, but repeat some bs. There were more than 400,000 transactions per day in December, and today there are less than 200,000. So you are lying about Bitcoin usage going up. Its falling like crazy.
The normal state of Bitcoin is that it cant scale properly. Steem has zero fees and no clogged up transactions.
Bitcoin is the new Gold it's just a store of value. It's not a competitor to Steem. "No one is using it" is logically incorrect. As I already said it has value because it's backed by people that has invested lots in it. Bitcoin doesn't need to scale. It's still scarce. Same as Gold doesn't need to be moved around.
Ok..you just proved that you have absolutely no idea what you're talking about. You cant compare gold to Bitcoin, because you cant create another gold 2.0. Gold IS scarce. Crypto currencies are NOT. Anyone can create them, and there are hundreds of currencies that are better than BTC.
Sure, it has first mover advantage and proven security etc. But that is not enough. If it can't scale it will die.
Incentive to hold gold is in history, peoples mentality and uniqueness. Bitcoin is an open source code. Don't you think gold would be worthless if some alchemist could create gold from rock for a cheap price? Of course.
And again you dont answer questions when I point out where you are wrong. No point of discussing further.
Bitcoin is also scarce.