Utility creates demand and demand defines the price that is paid for the utility. Utility is bought and paid for when it is needed.
You don't buy 1000 vouchers for haircuts today, you pay for one, when you need it. With depreciating FIAT or scarce #Bitcoin.
MAYBE in the future you will also buy some Monero, Ethereum, ….. or whatever your heart desires in the short term. Because you MIGHT just need it quickly.
Yes, and Bitcoin has it's own utility. A long term SoV or digital asset. This utility is also bought and paid for when needed. It makes no sense for me to buy Bitcoin if I'm going to need to spend it in the short/medium term.
It is not an ideal MoE/currency.
That is a big reason why many in the third world don't use it and overwhelmingly prefer Tether USDT (Despite what some bitcoiners would like to believe).
Or why it grows increasingly rarer to see Freenet markets solely using Bitcoin to transact. Where privacy+cheap txs are paramount Monero is preferred. Some even exclusively.
All depends how often one gets haircuts and how far out one predicts needing them.
You can get discounts for buying anything in bulk.
It would be more expensive to pay for 1 voucher with Bitcoin every time you need one instead of buying many vouchers to hold and use in the short/medium term.
Most users are onboarding to all crypto thru depreciating fiat. That includes Bitcoin.
Any crypto can be swapped to and from Monero, that isn't an exclusive privilege of Bitcoin.
I see, it will take a few more years....
Then there's just another „quick“ option - which I don't like but is popular: If you want to SAVE your VALUE like this; each his own. There are certainly good arguments in favour, that I will never raise.
The chart is youKNOW vs #Bitcoin. &Yes, they all look 'the same' - for a reason 🤫
https://m.primal.net/HWZc.jpg
I've already conceded BTC is a better SoV (so far), my point is that isn't ideal for other aspects like MoE
They don't all look the same. You just chose a convenient time frame. If I wanted to be disingenuous I would zoom in on 2022 XMR/BTC, but I wont. Here is the long term trend of XMR/BTChttps://m.primal.net/HWaE.png
If you zoom out, they all look the same 🫠 First pump, then dump to infinity. And it's not about the pump at the beginning, in the long run.
You get deeper and deeper into the content and inevitably get into guys like me. It's always the same, but a good way 🤗👍
A "dump to infinity" and a clear long term positive trend upwards cannot both be true. You're right about many others, but simply look at the long run chart shown. It obviously has other value Bitcoin cannot provide or the trend would be towards zero and it isn't. This is true only for a handful of cryptos other than Monero.
Either way we are already in agreement that BTC has been a better SoV
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