> Bitcoins are accepted almost nowhere, and some cryptocurrencies nowhere at all. Even where accepted, a currency whose value can swing 10 percent or more in a single day is useless as a means of payment
I'd bet it's a popular method of payment when it comes to illegal activities. And I doubt those people would have an issue with the fluctuations of 10% a day when you consider the benefits they get - anonymity, ease of transport, storage and liquidity.
> Store of Value. Extreme price volatility also makes bitcoin undesirable as a store of value.
Again, same argument, storage of assets you'd lose otherwise (confiscated, repo'ed) if it's from criminal activities.
I got downvoted in another thread for being against bitcoin, but I don't think these concerns are addressed properly out there.
Different from gold? You can't transport billions of it easily across borders, or give to a politician as easily.
I'd bet it's a popular method of payment when it comes to illegal activities. And I doubt those people would have an issue with the fluctuations of 10% a day when you consider the benefits they get - anonymity, ease of transport, storage and liquidity.
> Store of Value. Extreme price volatility also makes bitcoin undesirable as a store of value.
Again, same argument, storage of assets you'd lose otherwise (confiscated, repo'ed) if it's from criminal activities.
I got downvoted in another thread for being against bitcoin, but I don't think these concerns are addressed properly out there.
Different from gold? You can't transport billions of it easily across borders, or give to a politician as easily.