4 ms·
So if I as a consumer want to buy weed: I show up and convert cash to bitcoin, presumably losing some of its value to exchange fees. Pay the merchant my bitco
by dghlsakjg 3y ago
So if I as a consumer want to buy weed:
I show up and convert cash to bitcoin, presumably losing some of its value to exchange fees.
Pay the merchant my bitcoin, who then has to convert it back to cash losing more of its value to fees so that he can pay all of his staff, suppliers, utilities, etc...
Why not just skip the bitcoin step and save time and money?
- AnthonyMouse 3y agoBecause you don't have cash to begin with, you have money in a bank account, which you have to convert to something else to pay the dispensary. Converting it via cash instead of Bitcoin just makes it easier for you to be mugged.
- dghlsakjg 3y agoTo be honest, I’m far more concerned about crypto scams, wallet hacks, etc, than I am worried about getting mugged for ~$100 at the dispensary parking lot.
- AnthonyMouse 3y agoThat seems like a weird set of priorities? If someone hacks your crypto wallet with $100 in it, you could lose $100. If someone mugs you when you have $100 in your wallet, you could lose $100 and get shot. Crypto scams are... completely unrelated? It's like being worried about using a bank account because there are ponzi schemes that use bank transfers.