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The whole point of cryptocurrencies is that they're not supposed to be converted to and from dollars - their use case is to bypass fiat currencies such as the d
by jjk166 4y ago
The whole point of cryptocurrencies is that they're not supposed to be converted to and from dollars - their use case is to bypass fiat currencies such as the dollar and more specifically the centralized institutions necessary to process transactions in fiat currency.
If you sell goods or services for a bitcoin, you can buy a bitcoin worth of stuff. If bitcoin happens to be worth $15k, that means you can buy $15k worth of stuff, but the important thing is at no point in time do you need to convert your bitcoin into $15k.
- salawat 4y agoIf you are measuring the value of your BTC in USD, you already kinda lost there. Furthermore, you just handily stated cryptocurrency's true purpose, which is avoiding the modern world's curbs on the more destructive habits of unregulated finance. You are not painting yourself into a good corner with a lot of more normal people here.
- jjk166 4y agoI'm not measuring the value of BTC in USD, I clearly stated 1 bitcoin for 1 bitcoin worth of stuff. That stuff will invariably also have a USD value, and similarly a EUR value, and a Yen value, because that's how currencies work. And just as you can say a EUR is worth 1.05 USD, you can say a BTC is worth 15k USD. Yes, I stated bitcoin's purpose, but I said nothing about avoiding financial regulations. What I was referring to was ledger keeping. I am quite happy with the corner I'm in. May I ask why you are opposed to and seek to vilify something you don't use, understand, or are in any other way affected by?
- deleted 4y ago[deleted]