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Ah, except I'm not trading for cash. I'm trading for something that means more to me than cash (which I would have used cash to purchase anyway) :) What the mer
by warfangle 13y ago
Ah, except I'm not trading for cash. I'm trading for something that means more to me than cash (which I would have used cash to purchase anyway) :) What the merchant does with it afterwards, on the other hand.
And I'm not in it to make a fast buck. I'm just using it for occasional vanity purchases. I don't like treating a volatile commodity as a forex investment.. just doesn't seem wise. If it crashes to <$1/btc, I'll be out like, a hundred bucks. So what?
- Johnie 13y agoWhat's the difference between what you are doing and selling btc for cash and using that cash to buy stuff? The only difference is that you are forced to buy things at a certain time rather than keeping it in cash. The underlying transaction is the same.
- warfangle 13y ago> forced No, not really. It just changes my strategy on which currency to use when I want to buy something.
- jbooth 13y agoHow do merchants even price things to sell using bitcoin when it has volatility like this? Do they dynamically change the price of goods based on the bitcoin/$ exchange rate? Or do they actually sell the same goods for 1$ one day, $3 the next and $2 the third?
- warfangle 13y agoIf they use a service like coinbase, they price in USD and then payout almost immediately. It's a deferred sell, to be sure, but it adds more economic activity than just an exchange transaction.