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RE: Bitcoin will hit $40k within the next 5 years, even if it never catches on as a form of payment
Ive read a couple of articles recently on Steem on inflation and not sure bitcoin will ever become currency because it has no inflation. Small inflation is what keeps people using something as curency as there is always a downward force on the value of the asset so it decentivizes hodling. On the other hand since bitcoin had no inflation it encourages hodling which is the exact opposite of what you want for a currency.
I could be completely wrong, but I can see why Bitcoin will more than likely always be a store of value rather than an every day currency.
Yep exactly. Well said.
I think thats the use case bitcoin core devs are targeting. Bitcoin will be used for a relatively small number of large payments, acting as a settlement reserve currency (similar to gold before FIAT).
However, with off chain transactions and the lightning network small transactions will still be possible (with low fees), but BTC will most be held as a store of value.
Someone please correct me if I am wrong!
Nope I think you are spot on. That is how I see things playing out as well.