3 ms·

Instead of what, gold?

• betterunix 14y ago
  Instead of BTC. You know, when US banks talk about how much business they are doing, they speak in terms of dollars. When Japanese banks talk about how they are doing, they speak in terms of Yen. The funny think about Bitcoin is that its success is measured in terms of other currencies, although that should not be too surprising since its utility is absolutely dependent on the existence of other currencies and on the existence of exchanges. Why might that be, you ask? Simple: everyone still lives in the real world, where taxes and other debts have to be repaid, and nobody can use Bitcoin for that. So any business that accepts a Bitcoin payment, even if it is an illegal business, does so with the intention of trading Bitcoin for another currency later.