>I know acceptance is growing, but 10+ years later, crypto still has extremely limited acceptance for daily goods and services. It is almost exclusively held as an investment.
Which makes sense considering its volatility. Why would I make transactions with a unit of currency that sees hundreds of percentage change over just a few years?
And as others say, there is no real value to it other than speculation. This gets argued to death, but it's true. At least fiat has stability, and the USD is used to settle basically all energy (and most commodity) transactions. Do people actually expect the commodity market to be settled with crypto in the future?
> Why would I make transactions with a unit of currency that sees hundreds of percentage change over just a few years?
Why wouldn't I? If I'm going to hold bitcoin for five minutes, what do I care how its price changes over years?
The problem with bitcoin is that the technology is shit, and sucks for transactions, unless the world is prepared to only do like 50 transactions a minute.
That's only considering the scenario of end-user purchasing and also not considering resale.
Goods go through supply chains. Multiple transactions occur over a period of time in order to create a final good.
Service industries need to supply themselves with various goods in order to provide their services. The cost of those goods are used to price their services. When there is huge volatility through these processes, things fall apart.
Which makes sense considering its volatility. Why would I make transactions with a unit of currency that sees hundreds of percentage change over just a few years?
And as others say, there is no real value to it other than speculation. This gets argued to death, but it's true. At least fiat has stability, and the USD is used to settle basically all energy (and most commodity) transactions. Do people actually expect the commodity market to be settled with crypto in the future?