Quote:
Originally Posted by woj
primary purpose of currency is supposed to be a "medium of exchange", not an investment... it goes down in value over time, but so what? it's serving it's primary purpose quite well...
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it goes down in value over time for a simple fact that it's being diluted with more, that's inflationary currency and economy, sucking out value with passing time.
we haven't tried concept of deflationary economy where there is a limited amount of currency units available but can be almost infinity divided. bitcoin allows us to try it, where value of savings grows with time instead of diminishing and cost of everything else going down, not up.
i'm surprised you don't recognize medium of exchange benefit in bitcoin technology wise, given there are not much to be exchanged at the moment - but how could anyone expect all benefits at once instantly with something so new and radical? as more businesses start accepting bitcoin - there will be more things to buy with it. as for now, bitcoin is still being discovered by the world, it's a high risk/high reward investment medium for some years up ahead. and with limited supply and solid tech behind there is no reason it will ever crash to 0 due to all benefits it offers as a medium of exchange.