Bitcoin: good or bad for the economy?

[Neonridinghorse DF Member Posts:18 Threads:1 Reputation 0]

I know a lot of economists say that it's too unstable but what do y'all think about crypto-currency and the affect on the economy it has?

[Grizgil DF Member Posts:15 Threads:3 Reputation 0]

I think if they can the kinks out its good for the economy! Block chain is a really interesting technology however it has a few weaknesses that could be prevent successful crypto currency

[Forgotten DF Member Posts:24 Threads:7 Reputation 6]

The only problem is that it isn't solid, it can be $15,000 now and after a hour it can be $9,500.
No matter what happens, bitcoin won't exceed $20k+ anyways. With the rise of new and "better" cryptocurrencies and the rise of bitcoin fees/taxes, people are getting more interested in other crypto coins and less interested in bitcoin.
The only thing that supports bitcoin is that it's used in a wide variety of public places around the world and mainly it's use in the dark/deep web makes it valuable. Other crypto coins don't have the same stability and same use so yeah.

[Neonridinghorse DF Member Posts:18 Threads:1 Reputation 0]

The only problem is that it isn't solid, it can be $15,000 now and after a hour it can be $9,500.
No matter what happens, bitcoin won't exceed $20k+ anyways. With the rise of new and "better" cryptocurrencies and the rise of bitcoin fees/taxes, people are getting more interested in other crypto coins and less interested in bitcoin.
The only thing that supports bitcoin is that it's used in a wide variety of public places around the world and mainly it's use in the dark/deep web makes it valuable. Other crypto coins don't have the same stability and same use so yeah.

I see what you're saying but isn't it technically the most solid crypto currency? Like sure it fluctuates and it'll never exceed 20k but what crypto will? What do yuo suppose is the best crypto currency then

[wristband77 DF Member Posts:14 Threads:0 Reputation 0]

it is terrible for the economy

[twone6ix DF Member Posts:12 Threads:0 Reputation 0]

can't be bad can't be good, currency is what we all agree upon, majority rules if bitcoin gains more traction.

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The only problem is that it isn't solid, it can be $15,000 now and after a hour it can be $9,500.
No matter what happens, bitcoin won't exceed $20k+ anyways. With the rise of new and "better" cryptocurrencies and the rise of bitcoin fees/taxes, people are getting more interested in other crypto coins and less interested in bitcoin.
The only thing that supports bitcoin is that it's used in a wide variety of public places around the world and mainly it's use in the dark/deep web makes it valuable. Other crypto coins don't have the same stability and same use so yeah.

this is true

[Ivanz2 DF Member Posts:15 Threads:0 Reputation 0]

I think it's bad in the long run personally. Bitcoin would require ALOT of power to process billions of transactions if everyone started using it.

[Fox06 DF Member Posts:15 Threads:0 Reputation 0]

wow, it is very nice, thx.

[Meteor ⭐⭐⭐⭐⭐⭐ Posts:19 Threads:3 Reputation 5]

Its kinda risky, it can go up and down.

[PilotMaster737 CryptoNight Miner Posts:101 Threads:2 Reputation 3]

For me is good i love Bitcoins