How much actual commerce it taking place using cryptocurrencies (meaning using them to buy goods and services), as opposed to speculative trading of the cryptocurrencies themselves?

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Originally posted by BBMW:
How much actual commerce it taking place using cryptocurrencies (meaning using them to buy goods and services), as opposed to speculative trading of the cryptocurrencies themselves?

I havent seen 2017s complete numbers but halfway through the year it was on pace for 1B. Asia makes up 40% of the crypto volume. At the end of the month crypto will become legal in South Korea. South Korea will also be implementing a decentralized network to connect the state.

As an aside to your question how many things are bought with gold every day? A store of value is more bitcoins use case as every crypto coins value is based on bitcoin. Its more like a precious metal that can be bought at atms world wide.

Me personally, I really got off the bubble fence when the US put tax law in place for it and it hit wallstreet.

https://blog.bitpay.com/bitpay-growth-2017/




Link to original video: https://youtu.be/8cCVAs1Nd7Q

I understand the analogy even less than the original subject, so my money will be safe by not buying bitcoins.

Haha, made sense to me

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Originally posted by Deqlyn:

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Originally posted by wishfull thinker:

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Originally posted by Spokane228:
Bitcoin may crash, but I can see a real need for a decentralized currency using block chain. It would remove the need for a “trusted” third party like a bank.

I don't understand your point. A bank is an intermediary, I get it, but how does this fit in with the need for a 'decentralized currency'?

A bank collects fees, takes days to reconcile the ledger.

Decentralized currency can't be manipulated, think Africa with all the crazy printing, think about all the countries just printing money including the good ole USA. Purchasing power of the dollar has dropped a ton. As long as anyone can just print money the system is corrupt. We are lucky to live in a country where the dollar is not worthless. Average shelf life off currency is 27 years.

A decentralized currency does not allow for anyone to control it and it is not inflationary and holds it's store of value.

Thank you for explaining my position more eloquently than I could’ve.