You caught me, I'm an evil bot that has been programmed to evilly trick humans into doing things that will make them money. Over 99.999% of people who have bought bitcoin and held onto it are profitable. Ooooooo scary!!
aiccount
joined 1 year ago
Lots of people spend currencies that go up in value. Believe it or not, people sometimes want stuff now instead of the possibility of stuff later.
It is steadily growing over time. There were people who ridiculed it and said nobody would ever want it, and it would never be worth a dollar.
It makes sense that you didn't know what a Satoshi is. In fact, you may still not know what it is. There are 100 million satoshis in one bitcoin, so one satoshi is 0.00000001 BTC.
Yeah, there have been lots of predictions for bitcoin and people trying to guess specific time periods. I don't get into all that.
I just think it is badass to be able to hold value in something that nobody can counterfeit, I can instantly and privately transfer it. I can use it on amazon, Walmart, airbnb, Expedia, and a bunch of other places. I can carry it on my phone with me and protect it even from physical phone thieves. and on top of being totally awesome, it has steadily gone up in value as more and more people all over the world realize how cool it is. It is like an awesome game of spoons where we all end up winners because we all have a much more convenient form of money.
The people who use bitcoin think in Satoshi now. There are many wallets and exchanges that allow you to denominated in sotishis. mBTC is another common denomination that people use and think in.
It is true that bitcoin is starting out volatile, but it is still so early when you consider how long major currencies usually last. Things should settle down more and more as it becomes a larger and larger percentage of the economy. I bet gold probably started out pretty volatile, considering some people knew to value it and others didn't.
People already think in Satoshis. It has been this way for many, many years.
The lightning network on bitcoin is where most people should be transacting with bitcoin. It won't fill up with any number of users, transactions are instant(less than a second), and very cheap(even when bitcoin fees are high). Nearly everyone who talks confidently about how bitcoin can't scale is unaware of lightning and other developments over the last 5 years.
Their beepers DID go off.
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It is hilarious that this was removed. Anyone can see what i wrote by replying to the comment. Please mods, explain what rule i broke.