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Fiat money is legal tender, so "acceptance" suggests a choice that isn't there. Regardless, enforced or not, wide acceptance is of course no lie for hard fiat c
by fleddr 5y ago
Fiat money is legal tender, so "acceptance" suggests a choice that isn't there. Regardless, enforced or not, wide acceptance is of course no lie for hard fiat currencies. Fine.
Bitcoin in its current form should not be seen as a payment currency, instead as digital gold. A new asset class similar to actual gold/silver, real estate, stocks, etc.
Something to put part of your wealth in, hoping it appreciates over time. And as Bitcoin appreciates over time so well so far (12 years of 200% appreciation per year on average), it doesn't really make sense to spend Bitcoin. It is deflationary by design.
Bitcoin already is a killer "app" as such. An accessible way for anybody to preserve/grow wealth, a hedge against inflation and the lack of return on a normal savings account.
Your take on crypto for payments is needlessly pessimistic. It's inevitable, the winner just isn't clear yet.
- jfrunyon 5y agoFiat money is only legal tender in the country which issues it. You can find plenty of businesses outside the US willing to transact in USD. Legal tender also only applies to paying public debts (i.e. taxes)... not paying a business.