Quote:
Originally Posted by GGG
This should be why Bitcoin will be doomed to fail. An inherently deflationary currency with exponentially increasing transfers fees should never be sold. If you make purchasing anything cheaper in the future it breaks the economy.
And this problem gets progressively worse as more people try to adopt it.
The other problem with Bitcoin is once Bitcoin is no longer mineable there is nothing to tether the value of a Bitcoin to the real world other than confidence. Currently the cost of mining the Bitcoin much like the cost mining gold sets a real value.
A non-fiat currency makes sense though Bit Coin in my opinion won't be it.
Currencies need to be mildly inflationary or they don't function as currency.
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Check out this:
https://blockgeeks.com/guides/proof-...roof-of-stake/
This is why I'm also high on Ethereum. They have a very focused team that is working to solve these type of problems.