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> Who is buying goods or services using bitcoins? Anyone? Excuse me, I am. Expedia, Cheap Air, NewEgg, Microsoft, Dell and lots of other merchants accept it an
by snitko 9y ago
> Who is buying goods or services using bitcoins? Anyone?
Excuse me, I am. Expedia, Cheap Air, NewEgg, Microsoft, Dell and lots of other merchants accept it and I used them.
- nucatus 9y agoYes, they sell you in bitcoins at a spot value to dollar, or so. Technically, you are using the dollars to pay using the BTC as an intermediate "currency". On top of that, you are paying some extra money to cover the exchange rate risk, which is quite high for BTC. It is exactly like paying goods and services with, let's say, Apple stocks, only that the price will always fluctuate depending on the DOLLAR quotation of the Apple stock at the time of the payment.
- tudorconstantin 9y agoYeah, but these dollars don't have to pass through your bank account anymore, so you're pretty safe with not paying taxes on them.
- TACIXAT 9y agoThe prices aren't set in Bitcoin though. It's just a pass-through for dollars. When an employer and employee agree to base a salary in Bitcoin I will call it a currency, until then, I agree with OP that it is just a speculative asset.