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      "body": "Well thank f$*k for that!",
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      "author": "kezonsteem",
      "body": "Fiat isn't going to cease to exist. Bitcoin will continue to take 'market share' from fiat currencies though and as its price becomes more stable this speed will only increase. The fact is though, is that Bitcoin does not function (at least at this stage) like a currency should do. \n\nNo-one in their right mind would spend their bitcoin now, if they truly believe it will significantly increase in value in the long term, which if you are investing in Bitcoin, you must therefore believe. Modern capitalist economies are built on consumption, which requires consumers to spend money. Bitcoin does not incentivise this at all. The inflation and low interest rates of Fiat currencies do. For example I own Bitcoin and was out in town the other night with some friends for a few drinks. Low and behold I find out that the bar accepts Bitcoin. However I did not choose to pay in Bitcoin because I believe the bitcoin I would spend today, will be worth a lot more in the future. Therefore as a currency this does not work. It does however fit the profile of a digital Gold and a means to store value. \n\nIn my eyes we will see cryptocurrencies acting as an alternative to fiat but they will never replace them.",
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      "body": "What I am questioning is why we haven't seen the correction yet after the Bitcoin Gold fork, I was expecting us to at least revisit $5000 and then slowly start to climb again but it's holding strong.",
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      "body": "I think it was a group of people. Bitcoin and blockchain technology is too complicated for one person to create.",
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      "author": "braindizzle",
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      "body": "Your post proves Bitcoin is a currency.   Bad money drives out good.  You kept what you felt was \"good money\" and did not use it for spending.  Your hoarding behavior for Bitcoin proves you believe it is a valuable currency.",
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      "author": "kezonsteem",
      "body": "Buffett has always made it clear that he will steer clear of investing in anything he doesn't understand. He didn't invest in Amazon for that reason and look at Jeff Bezos now. I wouldn't pay Warren too much attention if he doesn't know a lot about the industry/ company but I would pay special attention when he does. In the case of Bitcoin you can disregard what he says. He said himself he doesn't understand the value of it. He didn't of Amazon either.",
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      "body": "A truly great President. Saved us all from Khrushchev's giant ego. RIP.",
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      "author": "kezonsteem",
      "body": "As much as I would like it to, Bitcoin cannot replace fiat currencies for several fundamental reasons. The fact is no-one in their right mind would spend their bitcoin now, if they truly believe it will significantly increase in value in the long term, which if you are investing in Bitcoin, you must therefore believe. Modern capitalist economies are built on consumption, which requires consumers to spend money. Bitcoin does not incentivise this at all. The inflation and low interest rates of Fiat currencies do. For example I own Bitcoin and was out in town the other night with some friends for a few drinks. Low and behold I find out that the bar accepts Bitcoin. However I did not choose to pay in Bitcoin because I believe the bitcoin I would spend today, will be worth a lot more in the future. Therefore as a currency this does not work. It does however fit the profile of a digital Gold and a means to store value. So I feel we will take route no.2. \n\nThanks for the informative post!",
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      "author": "kezonsteem",
      "body": "As much as I would like it to, Bitcoin cannot replace fiat currencies for several fundamental reasons. The fact is no-one in their right mind would spend their bitcoin now, if they truly believe it will significantly increase in value in the long term, which if you are investing in Bitcoin, you must therefore believe. Modern capitalist economies are built on consumption, which requires consumers to spend money. Bitcoin does not incentivise this at all. The inflation and low interest rates of Fiat currencies do. For example I own Bitcoin and was out in town the other night with some friends for a few drinks. Low and behold I find out that the bar accepts Bitcoin. However I did not choose to pay in Bitcoin because I believe the bitcoin I would spend today, will be worth a lot more in the future. Therefore as a currency this does not work. It does however fit the profile of a digital Gold and a means to store value. So I feel we will take route no.2. \n\nThanks for the informative post!",
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