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?? Bitcoins are a currency, there's no need to convert them. It's just happening now because some people want into this environment.
by GhotiFish 13y ago
??
Bitcoins are a currency, there's no need to convert them. It's just happening now because some people want into this environment.
- coldtea 13y ago>Bitcoins are a currency, there's no need to convert them Yes, unless you want to, you know, buy something...
- thret 13y agohttps://en.bitcoin.it/wiki/Trade https://en.bitcoin.it/wiki/Trade
- smsm42 13y agoYou realize this list proves the parent's point, not yours? Many categories there have a single provider and none would even breach 1% of providers in your vicinity. I would estimate the probability of not hearing "err... what?" after asking your favorite provider of anything about paying in bitcoins about 1/1000.
- nmarley 13y agoMany businesses accept Bitcoins as payment for physical things. The last Bitcoin meetup that I went to was at a bar/grill that accepts BTC as payment. Most of the attendees paid for their drinks with Bitcoin. You don't need to convert to cash in order to buy things with Bitcoin.
- acchow 13y agoHow long did the transaction take?
- krapp 13y ago"Many businesses" is a very relative term. A more accurate term would be "almost no businesses."
- coldtea 13y ago"Many" as in? 0.0x%? That bar/grill is a novelty -- and it probably only accepted BTC in the first place because there was a BTC EVENT held at it.
- GhotiFish 13y agowell use it as it's intended, buy something in bitcoins. There's even projects that accept donations in bitcoins, you'll see wallet addresses like this: 1JBEGFXW6ywMtZnCbjvKGJXDtdR6g6KmMi Their utility isn't tied to the fact that you can turn them into more of your favorite currency later, that stupidity is what's driving the current bitcoin bubble. Wait till people realize what you can do with them.
- jnbiche 13y agoI suppose there's nothing I'd ever want to buy from one of the merchants advertising here: http://www.bitcoinblackfriday.com/ http://www.bitcoinblackfriday.com/
- ceol 13y agoWoo, bacon lollipops, server hosting, and pizza. Truly the essentials. You need grocery stores, gas stations, clothing stores, and restaurants to start accepting it. Until then, it's really just a novelty for middle class college Libertarians.
- notdrunkatall 13y agoI love saying this: Do you think that cryptocurrencies spring fully-formed from the forehead of Zeus?
- coldtea 13y agoIf your available merchant options fit in a page, and contain "sriracha-bacon lolipops", t-shirts, honey and donations, you might as well use monopoly money...
- pathy 13y ago>there's no need to convert them. Have you tried paying your taxes in Bitcoin? The IRS (or regional equivalent) is not going to accept bitcoin any time soon and they will want you to pay taxes on, for example, profits. There is a need to convert, don't believe otherwise.
- smsm42 13y agoTaxes is not the big problem. Try buying a meal or filling up your gas tank or rent an apartment or paying an electricity bill with bitcoin. 99.(9)% of merchants you'll encounter in the course of your regular life accept local money and about the same do not accept bitcoin.
- GhotiFish 13y agoOut of curiosity, are people seriously using bitcoin stocks as a bank? Or are they just investing part of their money in bitcoin and hoping it goes somewhere? This requirement of conversion only makes sense if people are fully and completely invested. I would be shocked if there were such people at this stage.
- bitcoin-truth 13y agoThere are indeed people at this stage.
- waps 13y agoNo, but I imagine coinbase has. As will many other people who accept bitcoin payments.
- dinkumthinkum 13y agoI think these kinds of views are what make the bitcoin community seem ridiculous ... It's just constant downplaying of actual upplaying of conspiracy like goldbugs do and it just seems hard for serious and educated people to take seriously.
- GhotiFish 13y agoI'm not downplaying anyting. Bitcoins intention is to be a real currency. You don't turn your dollars into Canadian Tire money to shop at Canadian Tire. Saying you're not supposed to convert bitcoin is the statement of someone who thinks bitcoin is NOT an investment. So... not a goldbug.
- betterunix 13y agoThere are only two ways that you could have a work where Bitcoin does not need to be converted to other currency: 1. People stop bothering to follow the law, and governments throw their hands in the air and do nothing about it. 2. Governments start accepting Bitcoin for tax purposes. I am not confident that either of these will happen...
- yabatopia 13y agoThe problem right now is that Bitcoin is not (used as) a currency. A currency facilitates the exchange of services of goods. Bitcoin now is more like a plot of land in the middle of London, or gold a few years ago. You buy bitcoins to hold and speculate, not to spend and pay your purchases with it. The resurrection of Bitcoin as as currency after the bubble will be a very interesting transition to watch and it's not 100% sure that Bitcoin will survive it.
- deleted 13y ago[deleted]