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A couple of shops (jewelry places mainly) and most food delivery services around me accept bitcoin. So I can use them as a currency. It's like duck typing. If
by Insanity 7y ago
A couple of shops (jewelry places mainly) and most food delivery services around me accept bitcoin.
So I can use them as a currency. It's like duck typing. If it looks like a currency and behaves like a currency, it'd a currency! (Overly simplistic I know, but I'd challenge the idea that it outright can't be a currency)
- asjw 7y agoNope. You're paying not in bitcoin, but in the value of those bitcoins converted to a legal currency. Otherwise those businesses are just avoiding taxes, it would be better to pay in gold, at least it has a stable price.
- coralreef 7y agoThe commodity being exchanged is the Bitcoin and the goods/services. If the business wants to hold the Bitcoin forever, they can. If they want to sell for USD, they can. Paying in Bitcoin is the same way you just described as "paying in gold".