1/ Watching #btc volatility & thinking about current use cases, I finally appreciate why @VitalikButerin says it's important to make a StableCoin. Ppl should be able to store value w/o taking on all this currency risk.
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We haven't seen a monetization event in the life of anyone now living, so it's not surprising it looks strange when it happens.
I guess I'm skeptical of price stability for any one currency, even at fixation. I would expect there will always be shifts between competing currencies, for example. This is a way in which BTC != gold - the price is inherently more variable.
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If it wins, I expect Bitcoin to have even fewer competitors than gold, which after all didn't fully vanquish its perennial rival silver until the 20th century. But only time will tell.
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I think price stability is overrated. 1 BTC = 1 BTC This equation will always and forever be true, and the world will always be in constant flux. Bitcoin will always be there, immutable beyond all belief, such that the world can adapt and grow and plan and build on this flux.pic.twitter.com/a8KqIC6VQN
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As my fianceé says: if everyone had to understand the tech behind the internet to use it, it wouldn't be nearly as successful. To succeed, BTC must be legible to noobs. (Also, even among BTC hodlers, very few seem to deeply understand the tech or economics)
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Agreed. Also BTC needs to increase its block size, make confirmation times for blocks faster, lower their fees. Hopefully soon
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