/biz/ - Business & Finance

>>29665599
Bitcoin is unscalable and lightning does not work because any transaction above the dust fee can be left in the tx fee bucket meaning people could lose hundreds of dollars worth of btc through no fault of their own and there is nothing they can do to prevent it.
>You wouldn't use gold to buy shit
Of course gold would be used to buy shit, the reason this is unthinkable to you is because we've been off the gold standard for 50 years, you have no concept of anything apart from the fiat standard
>It's main usage is being a hedge against the dollar
Its not a hedge against the dollar, its the final reserve currency of the entire world and when the dollar goes away gold will be used in its stead
>bitcoin is actually a better version of gold
NO. Bitcoin is a liability, not money. The Bitcoin network needs constant work input in the form of electricity and hashing power, without that constant input Bitcoin will wither, become unusable and open itself up to attacks. Currently the network is funded through inflation at 900 btc per day and tx fees at 100 btc per day, but once we reach the hard cap 100% of the networks security has to be financed through 7 impossibly expensive transactions each second. If those transactions and their fees are not enough to secure the network btc becomes worthless. Its as though you had an ounce of gold that required constant polishing or else it would fail.
Btc also cannot be used as a currency, which gold can. Being usable as a currency is the MINIMUM requirement for a reserve currency.
>>29665634
>USD
No one wants to hold fiat once the psychology of hyperinflation sets in
>stablecoin
So your plan is to keep you btc on a centralized chinese exchange and trade it for stablecoins at a per need basis? Or do you plan on converting your btc by sending them to a DEX... Sending them along with millions of other people at a per need basis.. remember, 604k transactions is the maximum per 24h period
look at what happened 2017-2018

>>29625951
do you retarded bitcoiners understand why your shitty crypto will be worthless now?
the only way you can use bitcoin to buy something is if you first convert it into fiat, i.e. you need to to touch fiat in order to buy/invest
you will not be able to send bitcoins because bitcoin can only handle 7 transactions per second, meaning transaction times will be months, possibly even years and tx fees will be four digits, possibly higher