2 ms·
> If a zoned market solely accept Bitcoin and a good costs say 1 BTC The problem is that nobody selling regular goods WANTS to sell his goods with a fixed bitc
by Shmebulock 5y ago
> If a zoned market solely accept Bitcoin and a good costs say 1 BTC
The problem is that nobody selling regular goods WANTS to sell his goods with a fixed bitcoin price; the volatility of bitcoin would make it easy for buyers to buy the goods only when their prices where especially low in non-crazy-volatile currency and resell the goods at a favorable price immediately. There's arbitrage there
- smileysteve 5y agoThis is true of other currencies (usd being the global reserve currency) as well though. No sellers want the Argentine peso or Zimbabwean dollar either.