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Bitcoin is probably not a currency. It is however, a wonderfully efficient payment mechanism. So, when a large institution receives payment via Bitcoin, it's im
by brighton36 12y ago
Bitcoin is probably not a currency. It is however, a wonderfully efficient payment mechanism. So, when a large institution receives payment via Bitcoin, it's immediately converted into a stable unit of account, such as USD (typically via coinbase or bitpay). Similarly, when a company receives a warrant of payment from an American express customer, they convert that warrant into USD on a 7 day term.