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In my last article "Why do I use Bitcoin Cash" I announced to write why I do not use BTC. The easiest answer is: Because I do not own BTC. I dropped my entire BTC because it has become useless to me. In 2017 and 2018 the fees became so high and unpredictable that I could no longer use it. Many merchants have stopped accepting BTC. I had to wait a long time for confirmation and pay a lot of money for it.
More and more people have bought BTC in order to speculate and get rich quickly. People who often did not make a single transaction and only speculated with their BTC on exchanges. Little by little, BTC did not become money, but a share. A bad stock. And I don't need a bad stock. If I want to buy stock, I buy stock in companies that create value and produce something. What does BTC produce?
Other people have bought BTC and do not sell or use it. These are hodlers. Why are they holding it? I don't know. Some say BTC is digital gold. But is it?
Gold is a metal which has always played a special role in the history of mankind. Gold is used to make jewellery, gold is used to make televisions, smartphones and thousands of other goods. Gold has a utility value. What is the utility value of BTC? Compare the price of BTC and gold last year.
Which is the better gold?
As you can see, I am not a hodler. I am of the opinion that Bitcoin is to spend and not to hodl. I also have some crypto, which I do not spend, but it is not excessive. If I were to lose everything (which of course I don't hope to do) that wouldn't be a big problem for me. But these are cryptos I can use and do use. They are cryptos, which in my opinion will be used more and more often in the future because they have a utility value.