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Not directly related to facebook's libra but why don't we see more businesses use bitcoin, monero, etc. as a backup currency? I mean they could allow transactio
by wpdev_63 7y ago
Not directly related to facebook's libra but why don't we see more businesses use bitcoin, monero, etc. as a backup currency? I mean they could allow transactions to happen with cryptocurrency and have linked to a stable currency in the backend to be exchanged.
It wouldn't be a bad idea to have a 'backup' decentralized currency in an event of mass inflation. For example, the US is projected to go into a $30 trillion dollar deficit by 2030 and there's no telling what ramifications that will have.
- jaclaz 7y ago>For example, the US is projected to go into a $30 trillion dollar deficit by 2030 and there's no telling what ramifications that will have. Is there a telling on how many dollars will a Bitcoin exchange for in 2030?
- wpdev_63 7y agoProbably a lot more than it is now as it's deflationary in nature. edit: It would be interesting to see if cryptocoin would stabilize in value if it was exchanged as common as the dollar.
- jaclaz 7y agoSo the idea is to counter unknown ramifications with equally unknown (but probably a lot more than it is now) backup value, I see.