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Gold bullion is rather expensive to ship and insure. Bitcoin seems quite promising for foreign currency transactions.
by wstrange 11y ago
Gold bullion is rather expensive to ship and insure.
Bitcoin seems quite promising for foreign currency transactions.
- s73v3r 11y agoOnly if someone in the destination currency is willing to trade that currency for Bitcoin.
- dasil003 11y agoIsn't that true for all (or at least most major) currencies at the moment?
- VMG 11y agoIt's certainly easier to sell Bitcoin locally than gold bullion.
- notahacker 11y agoI'm not convinced that's true in very many countries.
- ryanlol 11y agoYou probably won't be getting too good prices for gold in such countries either.
- TheCoelacanth 11y agoYes, so it's an unprecedentedly easy to transport commodity, but that doesn't mean it's not a commodity.