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In the "not completely fungible" part. It is apparently hard to trade that many bitcoins for the equivalent amount of government-backed currency or goods. To
by GFischer 12y ago
In the "not completely fungible" part.
It is apparently hard to trade that many bitcoins for the equivalent amount of government-backed currency or goods.
To be fair to Bitcoin, it's not the only "currency" with that problem... during the Argentinean crisis, many local governments paid their workers with alternative currencies ("patacones" and others) which rapidly devalued.
http://en.wikipedia.org/wiki/Patac%C3%B3n_(bond) http://en.wikipedia.org/wiki/Patac%C3%B3n_(bond)
- andrewla 12y agoI think you mean the liquid part, not the fungible part.
- GFischer 12y agoYou're right, I stand corrected :) .
- maaku 12y agoYou're talking about liquidity not fungability. But regardless Bitstamp's 24 hour volume yesterday was 32,799 BTC. Trading that much bitcoin is not really a problem.
- GFischer 12y agoI stand corrected :) both about fungibility and about the trading volume.