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Seems it would be difficult to use Bitcoin for the payment of goods and services if its value is changing all the time, or is this not its intended purpose?

• bduerst 9y ago
  While Bitcoin fans say it's both, their behavior is usually divided between using bitcoin as a form of value sink or value transfer. The former is good for an asset, the latter is good for a currency. Right now, the volatile behavior of bitcoin shows it being much more of a speculative asset than a currency.
• nosuchthing 9y ago
  It's almost impossible given the Bitcoin network can only process 3 transactions per second.
• fweespeech 9y ago
  If transactions were close to instantaneous, it wouldn't be an issue. Buy in USD -> Pay in Bitcoin -> Receive Bitcoin -> Convert to USD needs to happen in under a minute. However. Those transactions frequently take a substantial chunk of real time in which time the value fluctuates more than a currency normally would.
• phaed 9y ago
  Currently, Bitcoin is used as a store of value not so much for day to day transactions. It's still evolving, its software, and it's upgradable.
  • thaumasiotes 9y ago
    That's exactly what you'd expect from a deflationary currency...
    • phaed 9y ago
      Whats your point?
      • thaumasiotes 9y ago
        That you shouldn't expect Bitcoin to ever behave any differently. It's specifically set up not to function well as a currency.
    • deleted 9y ago
      [deleted]