Why Bitcoin Will Never Be a Currency—in 2 Charts – Matthew O’Brien – The Atlantic. Post author By Protiguous; Post date 2013-12-15; No Comments on Why Bitcoin Will Never Be a Currency—in 2 Charts – Matthew O’Brien – The Atlantic; Wow, what a load of crap, misinformation, and weasel words. Crapbytes: “ though this time central banks have at least kept prices from falling, just ... Matthew O’Brien, a renowned American author, and journalist for The Atlantic described Bitcoin as a “tech stock,” claiming that its volatility rate doesn’t represent a legitimate currency ... Bitcoin could be Paypal 2.0, but it will never be the dollar 2.0. Not when prices would have had to fall 98.5 percent the past year if they'd been set in terms of Bitcoin.. Matthew O'Brien Matthew O’Brien, a renowned American author, and journalist for The Atlantic described Bitcoin as a “tech stock,” claiming that its volatility rate doesn’t represent a legitimate currency. O’Brien wrote: “Bitcoin has a massive deflationary bias. Its money supply is mostly fixed, but the menu of things it can buy is growing. The same ... Matthew O’Brien of The Atlantic argues that because of Bitcoin’s fixed ceiling, it has a deflationary bias. As the amount of things Bitcoins can be used to buy increases, the value of each coin also increases. Each coin should be able to buy more goods in the future than it can today, the opposite of how currencies usually work. So why spend it now when you can use it buy much more at a ...
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