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140 - The Future is Fiat | Noah Smith (Noahpinion)
Bankless
The Real Reason People Don't Use Bitcoin as Money
The real reason people don't use Bitcoin as money is because the price goes up and down. You could have no dilution possible, even without the possibility of dilution. And so as long as you expect Bitcoin to appreciate on average, now Bitcoin was insanely volatile in its early days, even more than now. That's true even once adoption saturates after all the bubbles are done. If you have a deflationary protocol that decreases the number of bitcoins in the world, that is going to provide a positive return. Just like gold,. right? Gold is in the same boat here. No one uses gold to buy things. It's not because gold is heavy and physically cumbersome. People would
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