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> BTC is worth thousands of dollars, so if everyone starts using BTC will people pay irrational fractions of BTC for bread and milk at the supermarket? This is
by wyldfire 9y ago
> BTC is worth thousands of dollars, so if everyone starts using BTC will people pay irrational fractions of BTC for bread and milk at the supermarket?
This is moot until/unless BTC undergoes significant changes. It's not suited for this kind of transaction at all, IMO.
But let's say confirmation times were orders of magnitude faster and we wanted to cross the threshold to supermarket transactions. I think we'd still denominate the purchases in the local fiat currency anyways. The only way this would change is if producers and distributors had their costs anchored in BTC. But this seems very unlikely to occur in the next decade.