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Also to be noted is that BTC to fiat adds a significant counterparty risk that isn't really an issue in fiat to fiat transfers (when was the last time a bank ra
by omarchowdhury 9y ago
Also to be noted is that BTC to fiat adds a significant counterparty risk that isn't really an issue in fiat to fiat transfers (when was the last time a bank ran away with your wire transfer?), and also one of Satoshi's cited reasons for creating Bitcoin in the first place. BTC to fiat adds a redundancy that only makes sense to add to the equation if you're doing something illegal. Otherwise, why not accept a fiat wire transfer in the first place?
- Doxin 9y agoThe important thing here is that illegal isn't the same thing as doing something bad. There's enough regimes out there where you'd want to hide certain spending patterns.