Bitcoin Holders Club, No Selling Allowed
Bitcoin isn’t the best ecash or transactional cryptocurrency and I couldn’t care less. Yes, I understand Satoshi intended for BTC to replace the dollar, and he labeled it peer to peer cash in his whitepaper. Things change and BTC has evolved.
Who wants to admit they sold bitcoin?
Why would anyone ever spend BTC without it being a necessity? We’ve all read or heard about the first BTC pizza’s valued over millions and climbing. If you bought with the expectations of gains, selling only makes sense to cash out. Educated buyers know BTC is volatile, and they don’t have weak hands because of it.
“But there’s better cryptocurrencies than bitcoin”
Other cryptos have bettered BTC in transaction fees and times. They can keep that crown and split it among NANO, NEO, ETH, EOS, TRX, XLM and whoever else I forgot. They’ll split the load, which ETH has struggled with over the last year. They’ll also split buyers, one will have to stand out to pass BTC price and adoption. Would they ever be trusted like BTC? Doubt it, just from their nature and leadership structure. No one has a Satoshi.
I’ll barely mention the huge supply and inflation rates on these but demand has to outstrip that most of all.
Why buy ecash?
Selling isn’t a great use case for speculators, it’s better for price that BTC has a big % of holders. Do I want BTC flying around the globe, instantaneously, for fractions of a penny? Not if I want price to go up. The faster it changes hands the more buy orders that BTC can fill. Buyers who want to use crypto as money sell their crypto for goods. These aren’t the hodlers meme’d about on message boards. Having buyers is good but not all of them are holders.
Stablecoins are the best cyrptocurrencies.
Alts still haven’t found a floor, it makes sense to me with all the stablecoins flooding the market. Alt buyers are looking for good currencies, first and foremost. Who will use any non fiat tethered crypto for transactions when the real version exists? The major selling point of most of these started as ecash, I doubt they stay that way.
Bitcoin use cases keep evolving
ETH, and a couple other smart contract platforms, have some wide ranging use cases. XMR certainly took BTC’s anonymity crown but I feel like privacy is a market mostly separate from BTC as well. Satoshi wouldn’t like that either but the market for investor transparency might be greater than the one for 100% anonymity. Negative yielding bonds, risky derivatives, and accounting frauds have me searching for BTC’s transparency and accessibility in investments.
BTC is more than internet money, cryptographic tech, or volatile trading asset. One of it’s precursors was BitGold, designed by someone who had a great understanding of trade and value. A million buyers buy it for a million reasons, one of them just happens to be as a hedge against clown economics and trade wars.
