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> Why is that acceptable to people? Because I can’t make 99% of my transactions with Bitcoin. Sure there’s a handful of vendors online that take BTC and a BTC
by the_only_law 5y ago
> Why is that acceptable to people?
Because I can’t make 99% of my transactions with Bitcoin. Sure there’s a handful of vendors online that take BTC and a BTC ATM in the gas station in the shady part of town, but for majority of pitches, money is probably going to have to be converted to USD and go through a bank.
- Quindecillion 5y agoI can store the majority of my wealth in Bitcoin over the long term and know that my share of the total supply won't be significantly diluted, because it's disinflationary with a max supply hard cap. This is not possible with fiat. You can't have any confidence how much fiat will be produced by central banks at the press of a button. Millions? Billions? Trillions? Who knows... Whenever I need liquid cash to buy things I can quickly and easily convert to fiat at anytime, and gain the benefit of price appreciation over the long term (+4 years). The only problem with that at the moment is capital gains tax, but I believe that will be addressed eventually.