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> Bitcoin gives you two currency exchange transactions to do where previously there was only one What? Only if you don't treat bitcoin as a currency. If bitcoi
by tokenizerrr 12y ago
> Bitcoin gives you two currency exchange transactions to do where previously there was only one
What? Only if you don't treat bitcoin as a currency. If bitcoin is used as its own currency, and both you and the seller hold bitcoin, there is no exchange, or at most one: When you buy in from your existing currency.
- michaelt 12y agoThis is why to be a value exchange mechanism, you also need to be a store-of-value mechanism. If the buyer and seller aren't holding bitcoin, a simple fiat transaction turns into three transactions.