What if bitcoin become so successful as a store of value that people stop using it Suppose if i people believes that bitcoin could be worth much more in the future they would prefer to to hold it rather than using it for everyday purchases
It has practically already happened.
Even if sellers or venders accepts bitcoin they will still choose to pay in their local currency while keeping bitcoins untouchable.
Not just individuals, but entire companies and even countries.
So an interesting situation will happen mostly holders will treat it as a long term investment so its everyday use would be extremely slow.
Buyers (and sellers) will prefer to make payments using stablecoins.
In my opinion i dont think that holding or keeping bitcoin would be bad thing like its a good decision to save for future but their is a difference between an asset that people wants to own and a currency that feel comfortable spending.
However, "accumulation" gets in the way of "use as a means of payment".
An "asset" and a "currency" are two completely different things, and they currently don't sit well together - the balance has shifted significantly away from "currency" and toward "financial asset".
May be easier access to Bitcoin payment,lower transaction costs and better payment infrastructure may help solve this.
It wont solve it. Thats my take. Theres no turning back now when it comes to "electronic digital payment instruments". To be honest, bitcoin never quite managed to fully establish itself as such (on a mass scale).
So my question is
Is it a sign of success that people keep holding bitcoins as a store of value rather than spending it or a failure at becoming widely use currency?
If bitcoin didn't end up being used for the purpose for which it was planned and created by Satoshi, then that clearly signifies a failure (in that regard).
By the way, it is standard practice to place a "space" after the symbol ".".
Why do newcomers write in one continuous block of text, effectively turning their post into a jumbled mess of symbol?
