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Being protected by law doesn't help it any - many currencies have failed despite such protections. The volatility is the real issue; as long as the value fluctu
by Piskvorrr 14y ago
Being protected by law doesn't help it any - many currencies have failed despite such protections. The volatility is the real issue; as long as the value fluctuates wildly, it won't be useful as currency (and vice versa!).
- legitsource 14y agoIf it becomes more widely accepted to purchase tangible goods and services, do you think the value will continue to swing wildly? In some aspects, I would think that would moderate the pricing, since at the moment it's not good for that much else for most people other than speculation and cashing in/out as needed.
- ProblemFactory 14y agoYes - but only if the merchants set fixed prices in bitcoin, rather than "$20 USD, transferred via bitcoin". Which they won't be able to do until their suppliers, employees and taxes can be paid in fixed number of bitcoins. More merchants via instant-USD-conversion will certainly increase the popularity of bitcoin, but won't help at all in giving it a moderate value in tangible goods and services.