Bitcoin can never become a true currency
• The core function of currency is circulation, while Bitcoin's fixed supply leads to hoarding rather than circulation.
• True currency needs price stability, but Bitcoin's extreme volatility prevents it from being a unit of account.
• Currency must enable efficient and low-cost transactions, but Bitcoin's slow speed and high fees cannot support a global payment system.
• The essence of Bitcoin is 'digital gold'; it is not a transactional currency but a speculative digital asset.
Bitcoin has not solved the problems of the monetary system; it has merely changed the form of the problem.
A true monetary revolution is not about creating a new scarce asset but establishing a freely circulating, unmanipulated economic system.
• The core function of currency is circulation, while Bitcoin's fixed supply leads to hoarding rather than circulation.
• True currency needs price stability, but Bitcoin's extreme volatility prevents it from being a unit of account.
• Currency must enable efficient and low-cost transactions, but Bitcoin's slow speed and high fees cannot support a global payment system.
• The essence of Bitcoin is 'digital gold'; it is not a transactional currency but a speculative digital asset.
Bitcoin has not solved the problems of the monetary system; it has merely changed the form of the problem.
A true monetary revolution is not about creating a new scarce asset but establishing a freely circulating, unmanipulated economic system.
