Ah, the age old question... what gives something its value?
Today, I ask that about Bitcoin, because sometimes, I just stop and think to myself and say:
"Self... why is Bitcoin worth this much?"
The answer I give myself is usually the same, which is that it isn't worth what it's currently going for, because nobody actually uses it the way it was designed to be used.
Then, you have the 21 million total supply, which in my opinion, simply cannot work for a currency, and do you know why?
Because eventually, so many of them will be lost, and there just simply won't be enough left in circulation to have a working monetary system.
Think about that for a second, think about a currency that is suppose to be used by the entire world, not just a single country... but the entire world.
Could Bitcoin even be that currency?
I don't believe so, and as a matter of fact, I believe a cryptocurrency such as Monero, or Steem would be better suited for such a task, because more of it could be created overtime, in order to keep up with demand.
I believe a currency needs to have the ability to keep up with supply and demand, and possess a new creation aspect built into its design by default.
Bitcoin instead, could easily be related to a commodity such as gold, since their is only so much of it in the world, just like Bitcoin, but neither of them can be used as a world currency in my humble opinion.
What say you guys and gals, do you agree with me, or do you believe that Bitcoin could in fact be the de facto world currency Satoshi Nakamoto envisioned it to be?
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