11 September 2017

AVC: “Store of Value vs Payment System”

I share these three transactions with all of you to make a point.

And that point is that you can’t keep spending something that goes up as much as Bitcoin has.

So I don’t spend Bitcoin anymore.

I hold it.

It’s a store of value now.

That much is clear.

Fred Wilson

If it doesn’t circulate anymore, then Bitcoin is failing as a payment system.

Not that it ever worked like a proper currency anyway.

Bitcoin USD price
Bitcoin (USD) Price

For a more in-depth discussion of the failings of cryptocurrencies as transaction medium, you can follow up by reading ‘The Crypto Currency Debate: Future of Money or Speculative Hype?’.

Post a Comment