Wow. 16k?
That's fucking Tulip Town.
Double Spending Problem.
51% Attack Problem.
Buy-in Problem.
Speculative excess demolishing trust as exchange value.pic.twitter.com/bK9XINB4FO
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Exactly this. If bitcoin were a currency this would be hyperdeflation and the correction would come when the rest of the economy stopped around it (why spend money today when you'll have twice as much to spend tomorrow). But since it is speculative who knows when the penny drops.
600,000 transactions per day isn't enough for even just US adults to make one transaction per year. It isn't a currency, too slow for sure. De facto computer gold. Deflationary. Would be just as practical to pay with gold shavings at the department store.
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