Just a random survey on how many WL players use bitcoin or other crytocurrency, and how often do they use it in nowaday society. Or most people still prefer paypal and wiretransfer?

They only useful if you need to order something illegal, whether service or a product. I have not yet met a sensible person who supports such currency. I know only people who used to/use them for speculating.

Where is your money? well its sorta on a floppy disk in some dumb binary code? I´d rather store my money on fire-proof box and deal with inflation rather than trust e-stuff who does not have any central-formal authority nor any decent guarantees on accounts. And I assume most people who do accept e-currency either deal as well with speculation, tax-avoidance or with illegal market in mind. I have not yet come across someone who show e-currency as assets, even if they accept it as payment (it surely aint fall under cash).

The bottom line is, its dumb to support illegal market by making every-day payments with un-traceable money.

What does it make that one dollar is worth some ammount of goods? Your trust in it. Nothing else, it's just paper or a digital number in your account. It's not that different from bitcoin other than the first is controlled by the United States Central Bank (FED) and the second has no central control.

As more and more people accept to buy/sell stuff using bitcoins, the more (true) value it gets, and that value is increasing alongside the speculative value of the bitcoin.

I wouldn't mind using bitcoins to buy stuff, it's the same as I do today, but with no bank annoying me, no government spying in the stuff I do, no central bank devaluating the currency by printing money and for those that don't like paying taxes (for one I don't mind paying), you have 0% sales tax.

> unironically describing Bitcoin as currency when it behaves like a commodity

0 since the term is actually cryptocurrency

I've, so far, only seen one person use Bitcoin, and it was for a drug deal.

Edited 10/18/2017 12:41:39

What is money but a commodity itself knyte? It's only the most useful of commodities, but it's still subject to supply/demand variations, and it's only worth a certain ammount because people are ready to give stuff in exchange for it.

Bitcoin isn't too far away from gold or other comodities when it comes to structure: you have a limited ammount of material, some of it is created, but it's rarer and rarer, and it has a value that follows people's willingness to buy it.

i use darkcoin to buy toilet paper on the deep web

Currency based on human psychological value rather than actual physical value is doomed to hyperinflation and eventual collapse, as all man-made institutions have a lifespan.

I would invest in indestructible and eternally valuable things, and trade those things for whatever acceptable currency is available (be it bitcoin or dollars) if I need to make a transaction, but still maintain a nice stockpile of something like gold or silver.

explain me which currency that i inherently valuable

we are referring to currencies that are also commodities. If I give you a stack of papers saying they're worth X amount, then I need to have a government agree to that amount or a society of free citizens in agreement.

A gold bar on the other hand, is valuable because the physical material that makes it up is itself valuable.

The (intrisic) value of gold is also zero, though. Gold is only valuable because it was used as a currency - as a standalone commodity the demand is very low, and shrinks quickly since jewelry lasts a very long time.

Gold is valuable because of its rarity. Unlike paper gold can't be printed by reams; there is a finite supply and it will remain low.

The metal also has various uses in industry.

you can also use gold bars as melee weapons

Gold lacks tenacity, so using it as a melee weapon is a pretty shitty idea. Using wood, which is the source of the paper that becomes money, is more likely to net you good results.

Anything dense is going to be an effective melee weapon. More mass = more kinetic energy = more damage. Hence why a foam hammer isn't as effective as a real hammer of the same volume.

yet it'll break apart on the first hit, while also making it brutally harder to swing - if too heavy, you'll fail to carry/swing it, and even with superhuman strength, your bones would be gone

REEEEEE back off you fiat currency statist

I don't trust the state with my money either, but if they jack my money off me with some crazy economic hijinxes, their own funding also goes away.

Imo Bitcoins current volatility is making it useless to function as an actual currency, so in some sense the hype is destroying it.

As for the further direction bitcoin will take I have absolutely no clue and all I have read some far is some chart analyis bla bla. However I'd like to make the uneducated guess that Bitcoin will indeed badly crash and after all the hype is out, it or a successor technology will find an actual use.