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Not really. I get paid in BTC and I pay my bills with it, buy things on amazon via Purse with it, etc. There are a great many people building businesses on th

Not really. I get paid in BTC and I pay my bills with it, buy things on amazon via Purse with it, etc. There are a great many people building businesses on the unique features of BTC. This "nobody uses BTC" meme needs to die-- yes, it is still the early days, it's a new technology. We're still in the "hey I got a personal home page on the information super highway!" stage of adoption-- but that didn't mean the internet was useless.... and we haven't even gotten to the bull market and pets.com era. It would be silly to say the web was useless since nobody needs their own homepage.

RasputinsBro 9y ago
You pay your bills with BTC? Don't you mean that you pay your bills with USD, which you buy by selling BTC?
- rothbardrand 9y ago
  Depends on the bill. But yes, you can use a bitcoin backed credit card for a lot of bills, and the biller gets paid in dollars which are converted from the bitcoin balance on the card. It is a bit of a challenge.
foepys 9y ago
> I get paid in BTC Out of curiosity: Do you get paid x BTC per month/week or do you get x $/€/£/etc. in BTC?
- rothbardrand 9y ago
  I tried for a fixed number of bitcoin per month, but they, not being fools, didn't go for it, and I get a USD salary converted at the exchange rate on the date of payment. This has worked out quite well in a bull market, though.
twohlix_ 9y ago
Yes that may be true, but that also means BTC is essentially in a deflationary period as the buying power of the currency is currently going up with time (unlike most Fiat, which the buying power tends to decrease during an inflationary period) so holding BTC makes sense to a lot of players with it. So there is a bit of an incentive for its use as a speculative instrument. A lot of the speculative buyers don't really understand how volatile BTC can be and that it is a usable currency. The reason I say its in a deflationary period (while demonstrably false as more BTC are being produced by miners) is because its BTC / person interested in BTC seems to be decreasing.
- rothbardrand 9y ago
  Yes, effectively we are experiencing deflation against fiat as the price is going up... and also %80 of all bitcoin has been mined, at the next halving and the one after that the rate of new supply will be cut twice.... which means over the next 8 years, its all going to be about adoption of the ecosystem. It may turn out that bitcoin is not used for buying daily necessities for awhile, but there are a great number of potential new businesses that will be built on and around bitcoin. Just like the internet gave us Amazon and Facebook, bitcoin will give us next generation companies that are quite different from the current economy. "Bitcoin is the internet of money" is really applicable slogan.

RasputinsBro 9y ago

You pay your bills with BTC? Don't you mean that you pay your bills with USD, which you buy by selling BTC?

rothbardrand 9y ago
Depends on the bill. But yes, you can use a bitcoin backed credit card for a lot of bills, and the biller gets paid in dollars which are converted from the bitcoin balance on the card. It is a bit of a challenge.

foepys 9y ago

> I get paid in BTC Out of curiosity: Do you get paid x BTC per month/week or do you get x $/€/£/etc. in BTC?

rothbardrand 9y ago
I tried for a fixed number of bitcoin per month, but they, not being fools, didn't go for it, and I get a USD salary converted at the exchange rate on the date of payment. This has worked out quite well in a bull market, though.

twohlix_ 9y ago

Yes that may be true, but that also means BTC is essentially in a deflationary period as the buying power of the currency is currently going up with time (unlike most Fiat, which the buying power tends to decrease during an inflationary period) so holding BTC makes sense to a lot of players with it. So there is a bit of an incentive for its use as a speculative instrument. A lot of the speculative buyers don't really understand how volatile BTC can be and that it is a usable currency. The reason I say its in a deflationary period (while demonstrably false as more BTC are being produced by miners) is because its BTC / person interested in BTC seems to be decreasing.

rothbardrand 9y ago
Yes, effectively we are experiencing deflation against fiat as the price is going up... and also %80 of all bitcoin has been mined, at the next halving and the one after that the rate of new supply will be cut twice.... which means over the next 8 years, its all going to be about adoption of the ecosystem. It may turn out that bitcoin is not used for buying daily necessities for awhile, but there are a great number of potential new businesses that will be built on and around bitcoin. Just like the internet gave us Amazon and Facebook, bitcoin will give us next generation companies that are quite different from the current economy. "Bitcoin is the internet of money" is really applicable slogan.