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If you include the relevant IRS paperwork for handling it, Bitcoin is relatively expensive. I bought and sold bitcoin and paid for things with bitcoin, but the

by ISL 11y ago

If you include the relevant IRS paperwork for handling it, Bitcoin is relatively expensive. I bought and sold bitcoin and paid for things with bitcoin, but the associated paperwork to account for the gains and losses incurred by the inherently fluctuating price was onerous. I believe in the premise of bitcoin, and still own some, but it's way easier to pull out my credit card to buy a cheeseburger than it is to use bitcoin and then compute the capital gains tax owed on my cheeseburger the following spring.

aianus 11y ago
You don't need to hold BTC for it to be useful for payments. You can already hold USD at Coinbase and send USD to BTC addresses with an on-the-fly conversion (although it will run you 1% today). Or conversely, generate a BTC address for your USD wallet and have all incoming BTC converted on-the-fly (also 1%). For a local cheeseburger in your own country it's never going to make sense to use Bitcoin but there are plenty of other applications where it already makes a lot of sense (remittances, online purchases, goods and services with a high risk of payment fraud, etc.)