Bitcoin is about to die
(www.barrons.com)
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NO.
You are all missing the point.
I am not saying that the network will go down.
The network can continue ad infinitum.
Peer to peer exchange of BTC can continue ad infinitum.
So what, if you cannot convert it to fiat or CBDC?
Example...you have 100 beans. I and 29 friends keep exchanging the beans. They are good and great beans. No one else knows that we are doing this.
We value one bean $16,000.
However, noone else in this planet (except the 30 of us) likes to do anything with these beans.
Noone is stopping us for swapping our beans, lending it to each other or do whatever with it. However, we have to pay the bills, buy food, pay gas, and the Internet bill and none of these idiots want to accept our beans. All these idiots (except us 30) like to play with some idiotic form of currency called CBDC.
Your arguments please...
Good points.
I'd argue that I can request my employer pay me in bitcoin. he saves payroll taxes, UI insurance, etc. It saves him money.
I get paid in bitcoin.
With bitcoin I can transact with other people who utilize bitcoin.
But you are right. It is doubtful the electric company or water company or cellphone company or internet company is going to accept my bitcoin.
My argument for that is to go off grid as much as possible.
Also, I can transact in both currencies. I can slowly try to transition more and more of my life to bitcoin. It doesn't have to be all at once.