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And when they buy things, are those things denominated in fiat currency or in bitcoin?
by cycrutchfield 7y ago
And when they buy things, are those things denominated in fiat currency or in bitcoin?
- hanniabu 7y agoBoth
- VRay 7y agoI guess Bitcoin is turning out to be the Esperanto of money
- CaptainZapp 7y agoSomehow I don't think that you mean that as a compliment.
- Lordarminius 7y ago> are those things denominated in fiat currency or in bitcoin By your logic if I exchange dollars for euros to spend on a vacation somewhere that means the dollar has failed ?
- thefounder 7y agoBitcoin is volatile. That's the main issue. You can't say that about the dollar or euro. Now imagine you get paid in bitcoin, save every month for a holiday or a high value purchase. When the time comes to make the purchase you find out that your savings are worth less than 10%. How does it feel using bitcoin? I tried to use bitcoin(as a merchant) but due its volatility it makes no sense to use it(as merchant or buyer).
- Lordarminius 7y agoIts volatile because it is relatively new and not backed by a government. Market forces are having their way.It will stabilize
- 411mrc 7y agoAt this point, it's a feature to have things denominated in $. I'm likely going to buy a Purism laptop with bitcoin, but of course denominated in $. I spent a couple hundred on BTC years ago, which has generated a nice return. This will be my first purchase, and I'll have plenty of BTC left over. Holding a deflationary currency while the world operates on an inflationary one is fine by me.