This is incorrect. The easier a currency is to exchange for other goods, services, or currencies, the better a medium of exchange it is.
If the USD wasn't easily exchanged for other currencies, it wouldn't be as valuable around the world.
Post by twetch#622
@24, must one profit seek in bitcoins to be adding value to the Bitcoin economy?
As in, must one seek to increase one's Bitcoin holdings to add value to the Bitcoin economy?
What the chain says
- Block
- 635 507
- Time
- 2020-05-18T22:20:18Z
- Signer
- 1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#622
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1Eyk15KEeYX9JwH8e98pqpX3kTUuY9d43C VerifiedReplies (10)
You can also do something nice for the other profit-seekers. You have to improve profit-seeking for somebody, not necessarily yourself.
Actually, I take that back because anything that would be "doing something nice for the other profit-seekers" could be profitably combined with buying more hashpower and earning more tx fees.
So yes, seeking profit is how you improve the Bitcoin economy.
I'm not sure if you are seeing the distinction I'm trying to tease out with that question... I hope this rewording helps to clarify my intention. Must one be seeking to profit in bitcoins, as opposed to fiat or some other resource or derived value?
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