Thread: crypto currency
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Old 05-25-2021, 04:05 PM
lkagele lkagele is offline
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Originally Posted by DaddyD View Post

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?
I view BTC as an invention. Satoshi Nakamoto simply invented a new type of currency. It's value wasn't simply established out of thin air either. A lot of time and effort went into the original programing. Even now, a great deal of time, effort and expense to mine additional coins. Not too unlike the gold miner. Instead of a crushing mill to recover the gold, they're using servers and computing power.

The market/public will determine whether or not it's viable in the long run. It's appeal is that it can't be manipulated. By 2030 (I think) all the coins that are available will be in play. No more will ever be created. It's in its infancy and still highly volatile but there's little doubt it is shaping up as a store of value. Just ask the folks that bought in at the 10K range.

ETH looks like it might be a keeper as well. It's the fuel that runs smart contracts by way of blockchain technology. It's got some issues right now with speed and transaction costs. There are, however, other programs with their own cryptos that are working to fix the issues.