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Last time I checked, people can and do pay for things using Bitcoin and crypto. Just because YOU don't doesn't mean it doesn't happen.
by birracerveza 4y ago
Last time I checked, people can and do pay for things using Bitcoin and crypto.
Just because YOU don't doesn't mean it doesn't happen.
- Bakary 4y agoPeople sometimes treat established fiat currencies as a speculative or at least arbitrage-based asset, but they are a tiny minority compared to those who use it as well, currencies. With crypto the proportions are reversed. Those who use it as a currency are a tiny minority compared to those who speculate on it.
- birracerveza 4y agolottin commented that people don't use crypto as a currency, which is flat out wrong. Nothing you said changes that fact. Just because the majority uses it as a speculative asset doesn't mean it's not being actively used as a currency.
- Bakary 4y agoI don't want to misrepresent their argument, and I don't want to go into a gotcha contest, but that's not what I got from the GP's comment. They said that bitcoin wasn't used the way dollars are used, which is different from saying that they are never used as currency. Currently, dollars are used as a currency first and an asset a distant second. Bitcoins and other crypto are used as an asset first and as currency a distant second. That might change, especially with Ethereum, but for now I agree with the GP that things are not looking rosy when it comes to functioning as an online dollar.
- jboy55 4y agoIf crypto were a real currency, in real use, there would be valid criticisms of its future viability as a currency if it changed more than 1% in a day, or dropped in value > 10% a year. Its as if someone traded a tulip bulb for a sack of flour and claimed it was the "new Danish currency".