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> You've exposed your father to losses without explaining to him that BTC is in fact not USD and USD/BTC is a floating exchange rate. You are assuming that bot

by peckrob 11y ago

> You've exposed your father to losses without explaining to him that BTC is in fact not USD and USD/BTC is a floating exchange rate. You are assuming that both of us were not aware of that. We both were and were interested in trying something new. But it is still a reality of using Bitcoin when the entire transaction is not in bitcoin. Anyway, the larger point remains: there are some transaction that bitcoin is ill suited for and PayPal is great for. Sending money to people is one of the core features of PayPal that works like a breeze whereas buying and selling a different currency just to send money makes little sense.

exo762 11y ago
"Situation is real, but the problem is made up". You did made up that point, after all. Once again - if you are using other currency, being it BTC, CHF, EUR, RUB or CNY, you are exposing yourself and counterparty to exchange rate fluctuations. Difference is - with BTC you have some extra possibilities. As for PayPal - yeah, it's a breeze until it's not. I.e. until they've blocked your account because reasons. With BTC I own my money. With PayPal, PayPal owns me.