Do the vendors adjust their prices according to the exchange rate?
Is that what happened though? Was there this massive debate about gold becoming money back then like there is today about Bitcoin becoming money? I wasn’t aware that there was. As far as I know, gold has been a pretty valuable thing in many different communities for THOUSANDS of years and has been being used as a medium of exchange for an extremely long time.
Are billions of people using Bitcoins to purchase goods and services like they are with Chinese Yuan? Didn’t think so.
go cry in your haterade, irrationalbot.
I just got back from the bar and used USD to buy ribs, a crab cake, 3 different glasses of beer and a sixpack. I also purchased 3 plane tickets today. What have you bought with your Bitcoins recently?
this isnt a massive debate. this is a few haters arguing against reality.
because its all about me, isnt it sweetiepie?
You kidding? I’m a member of many different forums and each one has people like you defending their Bitcoins as if they can be used like money. Not surprisingly though, no one has stepped up and actually shown that you can go literally anywhere within your community and use it as such.
aka “I just got back from the bar, want to dump out my purse and compare receipts?!”
want to engage me in a productive discussion? you never responded to my questions above.
whats a community? is that like the darknet?
I’ll be taking my car to the shop in a couple of days to get inspected. Also need a haircut. Probably going to use some USD because I’m pretty sure that neither one takes a Bitcoin as a form of payment for their service.
in light of that fact do you retract your earlier acknowledgement that Chinese Yuan are money?
Are you ready to admit you haven’t and will not be using Bitcoins (which at this point I’m doubting you even have any) as money? Just looked in my fridge by the way and I’m low on raw milk. I’ll probably be hopping in my car at some point this weekend and driving 15 miles out to the store that sells it to make my purchase. I’ll ask them if they take Bitcoins as a form of payment but I really wouldn’t be surprised if they never even heard of the damn thing. I bet they at least know what Chinese Yuan are though.
perhaps one day youll understand why my personal finances arent a part of this discussion. it has to do with context. the big question is why someone who doesnt value bitcoins would keep wanting to talk about them, but not as an economist. as a peanut in a gallery?
Right. Why be bothered by the fact that you’ll never purchase anything with a Bitcoin, which happens to be an important function of money.
Bitpay allows a vendor to price in dollars and the bitcoin price will be updated in realtime to match the exchange rate, minimizing exchange risk for a vendor that wants to keep the dollar as their unit of account, as most will (initially), since they have to pay vendors in dollars also. But they can choose to keep profits in bitcoin too, or take bitcoin and sell to dollars themselves as needed, as I’ve heard of some companies doing.
Hello. Guy right here who has purchased things in bitcoin. Get lost.
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why indeed? its not as though the monetary status of bitcoin depends on my behavior. its already money in the bitcoin market, no need dor me to do anything.
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as the future is uncertain, your proposition can hardly be considered “fact” so its even more puzzling why you would think such a prediction would be bothersome,
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still wondering why you seem obsessed with people and refuse to discuss the issue at hand.
You mean the issue of not being able to use your bitcoins as money anywhere? By the way, I’m going to the movie theatre today to watch the new Evil Dead. Might even buy some soda and popcorn while I’m there. You think they’ll accept Bitcoins?
no I mean the issue of you not understanding what makes something money and reveling in that ignorance.