Bury bitcoin
I believe that a recent article did not reveal the essence of the long-suffering Bitcoin to the end. Although this article is very worthwhile, in my opinion.
Talk about this phenomenon can be ended after a simple question:
How many times have you bought something on Bitcoins (games on the exchange do not count)?
For those who still want to talk, I ask under the cat for explanations.
Suppose your answer is greater than zero. Most likely, you paid for hosting with Bitcoins or bought a couple of photos. Think about what will happen with this "money" next? If it were US dollars, then everything is obvious. With this money you can pay off with any person on Earth for any product or service. So what can a vendor do with your bitcoins? Buy a couple of things on Search Bitcoin? Doubtful value for the provider and even the photographer. The provider has to pay for the rental of premises, electricity, salary to employees and other joys of serious business. And the photographer wants to eat. Neither the electric office in the city of the provider, nor the grocery store next to the photographer yet know anything about any Bitcoins there. The only way out is to exchange them on the exchange for the currency quoted in the country of the photographer or provider. But why do they need such difficulties? Probably, both of our sellers are counting on holding Bitcoins a little so that later, when they consider that the exchange rate has grown enough, to exchange them for their currency.
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Money is actually not provided by the state or the Central Bank. They are provided with expectations. People’s expectations that tomorrow they will be able to buy food with this money, and the day after tomorrow they can fill the car. And if for some reason people using a significant amount of money from one country begin to think that money loses, for example, the accumulation property or the circulation property, then the Central Bank and the state will be worth a huge effort to keep the exchange rate and inflation.
Initially, Bitcoin was supported by a huge number of people who want to make a profit on the growth rate. But this popularity is only among the earners of this “currency” and some firms that provide services directly related to the Internet (hosting, VPN, VoIP, etc.). There were exchanges to exchange Bitcoins for many currencies of the world.
Nowadays, the popularity of Bitcoins, even among miners, is falling due to the ever-increasing complexity of mining. There are almost no stores in which you can buy at least some of the goods needed by the majority of the world's population for Bitcoins, and those that exist are only based on interest in unusual technology. One of the reasons is our example above. Another - too strong fluctuations in the course even during the month.
Because of this, sellers have to constantly adjust the price depending on the course. And where to get the customer cryptocurrency, if he does not want to open a branch of a computer club? Also need to go to the exchange. Why is it so difficult for both the seller and the buyer when there is a fairly stable home currency?
As a currency, bitcoin does not work. Maybe he is suitable for something else? This is an asset! He even has his stock exchange. Some financiers use it in their financial instruments. But it is a little different from all other assets. Currencies have their own states, money in a more general sense (bills of exchange, bonds, checks, etc.) has banks, stocks have campaigns. Something happens in them all, the media report about it, and on what dressing information is served, people's expectations about the future of these assets depend. And Bitcoin has nothing. If, for example, Journal of Finance, a good bitcoin drive in his article, most players will start to get rid of it. The course will fall, and if a major player does not start buying up Bitcoins en masse, thus stopping the fall, he will fall forever. The unknown creator of technology will be on a par with Ponzi and Mavrodi.
Eternalko is right. The most valuable asset is human attention to something, caused by the expectation that something can be earned from it. The cost of a bitcoin is equal to the cumulative expectations of the people associated with it. To become a real currency, and not to disappear altogether, Bitcoin needs to reach the level of large investment banks, and better than entire countries. To get to this level and show all its advantages over a regular currency, it needs trust. Which he is losing right now.
Rest in peace, Bitcoin.
Talk about this phenomenon can be ended after a simple question:
How many times have you bought something on Bitcoins (games on the exchange do not count)?
For those who still want to talk, I ask under the cat for explanations.
Suppose your answer is greater than zero. Most likely, you paid for hosting with Bitcoins or bought a couple of photos. Think about what will happen with this "money" next? If it were US dollars, then everything is obvious. With this money you can pay off with any person on Earth for any product or service. So what can a vendor do with your bitcoins? Buy a couple of things on Search Bitcoin? Doubtful value for the provider and even the photographer. The provider has to pay for the rental of premises, electricity, salary to employees and other joys of serious business. And the photographer wants to eat. Neither the electric office in the city of the provider, nor the grocery store next to the photographer yet know anything about any Bitcoins there. The only way out is to exchange them on the exchange for the currency quoted in the country of the photographer or provider. But why do they need such difficulties? Probably, both of our sellers are counting on holding Bitcoins a little so that later, when they consider that the exchange rate has grown enough, to exchange them for their currency.
')
Money is actually not provided by the state or the Central Bank. They are provided with expectations. People’s expectations that tomorrow they will be able to buy food with this money, and the day after tomorrow they can fill the car. And if for some reason people using a significant amount of money from one country begin to think that money loses, for example, the accumulation property or the circulation property, then the Central Bank and the state will be worth a huge effort to keep the exchange rate and inflation.
Initially, Bitcoin was supported by a huge number of people who want to make a profit on the growth rate. But this popularity is only among the earners of this “currency” and some firms that provide services directly related to the Internet (hosting, VPN, VoIP, etc.). There were exchanges to exchange Bitcoins for many currencies of the world.
Nowadays, the popularity of Bitcoins, even among miners, is falling due to the ever-increasing complexity of mining. There are almost no stores in which you can buy at least some of the goods needed by the majority of the world's population for Bitcoins, and those that exist are only based on interest in unusual technology. One of the reasons is our example above. Another - too strong fluctuations in the course even during the month.
Because of this, sellers have to constantly adjust the price depending on the course. And where to get the customer cryptocurrency, if he does not want to open a branch of a computer club? Also need to go to the exchange. Why is it so difficult for both the seller and the buyer when there is a fairly stable home currency?
As a currency, bitcoin does not work. Maybe he is suitable for something else? This is an asset! He even has his stock exchange. Some financiers use it in their financial instruments. But it is a little different from all other assets. Currencies have their own states, money in a more general sense (bills of exchange, bonds, checks, etc.) has banks, stocks have campaigns. Something happens in them all, the media report about it, and on what dressing information is served, people's expectations about the future of these assets depend. And Bitcoin has nothing. If, for example, Journal of Finance, a good bitcoin drive in his article, most players will start to get rid of it. The course will fall, and if a major player does not start buying up Bitcoins en masse, thus stopping the fall, he will fall forever. The unknown creator of technology will be on a par with Ponzi and Mavrodi.
Eternalko is right. The most valuable asset is human attention to something, caused by the expectation that something can be earned from it. The cost of a bitcoin is equal to the cumulative expectations of the people associated with it. To become a real currency, and not to disappear altogether, Bitcoin needs to reach the level of large investment banks, and better than entire countries. To get to this level and show all its advantages over a regular currency, it needs trust. Which he is losing right now.
Rest in peace, Bitcoin.
Source: https://habr.com/ru/post/133326/
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