Why Nobody Uses Bitcoin for Payments

Today I'm debunking one of the biggest myths around bitcoin not being used as a medium of exchange.

Throughout history, monies evolve from a store of value to a medium of exchange and finally to a unit of account. I explain where we are in this process.

Second, there's Gresham's Law, which explains how people behave when competing monies are in circulation.

Third, I explore the future for the Bitcoin network, if it will ever become a unit of account and medium of exchange and widely adopted for payments.

As always, I'd love to hear your thoughts.
Alec

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I'm very active on social media, as well as my personal blog, personal YouTube and Conscious Poker YouTube. Follow me and let's connect.

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DISCLAIMER: Everything Alec Torelli says on the CrypTorelli YouTube, his trades, strategies, and news coverage are based on his opinions alone and are only for entertainment purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and personal experience. An individual trader's results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the cryptocurrencies and public and private markets, and that one can lose all of their investment. Thus, trades should not be based on the opinions of others but by your own research and due diligence. You and you alone are responsible for all of the financial risks you take.