Interesting article, thanks for posting.

The motivation for it is maybe frustration from an investor point of view, “why is the price not going up?”

I would be careful not to try to change terminology, as that could be even more confusing to new entrants.

Personally, I didn’t find confusion to exist more than the time needed to read up on Bitcoin, maybe a few hours, which I did almost as soon as Bitcoin came out, all those years ago.

If only I’d usefully invested cash, as well as time, back then!

I, along with many others, find it most useful to think of it simply as a distributed ledger, which we obviously believe has value.

We may think of pretty much all cryptocurrencies in the same way.

There are standards defining this, to try to avoid exactly the problem of confusing terminology.

As for the age old arguments which still seem to rage on, looking at other comments here, on whether it is cash, or a store of value, the proof is in the pudding.

It obviously does both, but its utility as every day cash is a little limited by transaction fees and processing time, and the fact we still don’t see many suppliers of every day things accepting it “In the street”, though that could all change in an instant.

It can be easily exchanged for other, more liquid cryptocurrencies.

So a balance of it, in a wallet, or in a third party exchange account, functions more as a savings account, than a current account. Whereas balances of more liquid cryptos are the other way round, and most wallets and accounts are now multi-currency.

Again from other comments, the idea it could ever be accused of being a Ponzi is ridiculous, laughable, to anyone who takes the time to scrutinise how it works, given we can also see now that fiat itself has become the biggest Ponzi ever.

As for why the dollar price seems to be stuck, investors should be less concerned about the dollar price.

What they should be looking at is the gold price, although information on that can be hard to come by, perhaps intentionally, by the “markets”, because after all, the game may literally be up, after the ponzi of fiat finally collapses.

For anyone curious, I’ve provided an analysis in terms of gold.

If it turns out to be popular, I will try to maintain a weekly bulletin, because things are starting to happen there, but please be aware I am not an investor, more a developer of related things.

I still need an income from external sources to live on, so may not be able to continue with it if no donations are received.


Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store