okay, a little thread on cryptomarkets and what I think is going on:
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theoretically possible for something(s) else to serve as user-facing currency with bitcoin a behind the scenes mechanism for merchants to square books
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but bitcoin is too volatile at present to make something like that sensible to build/use outside of people invested purely in the idea of the thing
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volatility is a direct consequence of lack of liquidity, as it spreads further and traps more resources, its USD price will likely cease to matter for the prices it denominates.
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BCH, being more liquid, is already way more stable than BTC.
End of conversation
New conversation -
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Doesn’t matter. It’s not going to circulate due to Gresham’s Law.
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don't think Gresham's Law applies without legal tender laws in place.
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It's a good point but I think it would actually apply here regardless. I can't see why people would pass btc on regularly as they are in relatively fixed supply. Do you think I'm looking at it wrong ?
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well, as I said in the main thread, I think it's a matter of how many resources are trapped into crypto economy. if you can't but pass on BTC to buy your lunch or pay your mortgage, you'll definitely do that.
End of conversation
New conversation -
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Fees do indeed price out small transactions at the moment, but someone's using the network for something. Layer 2 solutions appear to be proceeding along.
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or you can just use BCH....
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Monero is my sidecoin.
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good coin too.
End of conversation
New conversation -
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I moved $360k in 10 mins for $11. It's just not good for small payments
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