<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>mbrock</author><text>It definitely means people won&amp;#x27;t use it as a unit of account (for debts, budgets, etc), which is one primary use for a currency...&lt;p&gt;But I don&amp;#x27;t think it means people won&amp;#x27;t spend it or trade it for some other currency or asset. If you held a bunch of bitcoin while the price in USD doubled, and you happened to want a new smartphone, you&amp;#x27;re sure you wouldn&amp;#x27;t buy one?&lt;p&gt;If you were absolutely confident the price would quickly rise even more, maybe you would prefer holding, but if you really want the phone and you think BTC&amp;#x2F;USD has some risk?</text><parent_chain><item><author>autokad</author><text>I was having a conversation about bitcoin, and I was saying the fact that the price goes up so fast means people cant&amp;#x2F;wont actually use it as a currency.  I think someone bought a pizza with 10k bitcoin? thats now 70 million $.  Even in the last year it has moved up so fast, and if people think it will continue to grow &amp;#x27;because of adoption&amp;#x27;, people cant actually &amp;#x27;adopt&amp;#x27; it and use it as a currency, because todays bitcoin is worth a lot less than tomorrows.&lt;p&gt;then i realized, i was describing deflation.</text></item></parent_chain></comment><story><title>The Bitcoin bubble – Greater fool theory</title><url>https://www.economist.com/blogs/buttonwood/2017/11/greater-fool-theory-0</url></story>
<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>lokerfoi</author><text>Other motivations exist when using deflationary currency other than hoarding. I don&amp;#x27;t believe btc deflation is bad.&lt;p&gt;Fiat currency can also rise and fall 10% in a single day. Problem is that moving the market that much in every day is impossible due to a huge market cap, which BTC does not have.&lt;p&gt;All cryptocurrencies are not user friendly. Cold, hot wallets, privacy issues, what is the best way to store them, how not to accidentally lose everything etc.&lt;p&gt;Mass adoption depends a lot on user friendliness which a bunch of cryptographers aren&amp;#x27;t concentrated on solving.&lt;p&gt;So, it won&amp;#x27;t be used as a currency not because of its deflationary nature but because it&amp;#x27;s just not as convenient as fiat currency.&lt;p&gt;Scaling issues are also a big blocker. Currently, BTC transaction fees are higher than those imposed by banks. It&amp;#x27;s no longer a cash, just a store of value.&lt;p&gt;Core devs are behind a private company, trying to milk the blockchain even more, which will also lead to bitcoin not being used as cash, but they&amp;#x27;ll sell their own sidechain and offchain solutions, probably just to enterprise.&lt;p&gt;Blockchain tech is great tech. Cryptocurrencies like Monero are absolutely brilliant. But I&amp;#x27;m doubtful of mass adoption, mostly because torrents, free software, as amazing as they are, and convenient for superusers, don&amp;#x27;t have mass adoption too.</text><parent_chain><item><author>autokad</author><text>I was having a conversation about bitcoin, and I was saying the fact that the price goes up so fast means people cant&amp;#x2F;wont actually use it as a currency.  I think someone bought a pizza with 10k bitcoin? thats now 70 million $.  Even in the last year it has moved up so fast, and if people think it will continue to grow &amp;#x27;because of adoption&amp;#x27;, people cant actually &amp;#x27;adopt&amp;#x27; it and use it as a currency, because todays bitcoin is worth a lot less than tomorrows.&lt;p&gt;then i realized, i was describing deflation.</text></item></parent_chain></comment><story><title>The Bitcoin bubble – Greater fool theory</title><url>https://www.economist.com/blogs/buttonwood/2017/11/greater-fool-theory-0</url></story>