re: Bitcoin improvement thread

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BC is being used as a temporary store of value or as a speculative investment

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Pretty much what the article I posted a couple of days ago argued.

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which is the universal definition of money. So as a "virtual currency" it is a failure already

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To get technical, money can be an exchange vehicle, a store of value, must be easy to transact and be finely divisible.

Bitcoin does all these things although as the aforementioned article points out the "store of value" component is getting very inflated these days. To be fair, the USD in its very early days (1790-ish) fluctuated pretty violently as well.

I am not willing to say BC are the future but it clearly is getting some traction. I suspect without proof that the current price is waaaay overblown given the market size and that it will crash again. But the niche it fills isn't going away so the demand won't either.

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I have tried repeatedly to find how much BC's have been used to actually purchase goods or services and I just can't find it anywhere.

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You can buy USD for it on some websites. Or you can buy illegal drugs online on Silk Road.