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No one is using Bitcoin as a currency.
by literallyWTF 4y ago
No one is using Bitcoin as a currency.
- lolsal 4y agoSome folks are using it to buy stuff, does that not count? This link says that it's considered "legal tender" in El Salvador: https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador
- tsimionescu 4y agoNot if they're not buying/selling things from/to outside the country in BTC.
- lolsal 4y agoWhy does that not count? I could use bottle caps as currency with my neighbors if we all agreed to it.
- leesalminen 4y agoThings are still priced in dollars though with btc acting as the medium of exchange. You see a pupusa for $2. You type $2 into your wallet which converts it to btc based on the current exchange rate. The recipient receives that btc and ideally converts it back to USD immediately. Both ends of the transaction are valuing things in dollars but uses btc (perhaps over Lightning network) to transfer the value. In this scenario, there is little to no exposure to the volatility of the price of btc. Western Union is the only option for so many people around the world still. There definitely seems to be a need to disrupt cross border remittances.
- jejeyyy77 4y agoexactly, that's what lightning network is for.
- maerF0x0 4y agoCareful when you say absolute things like "No one" https://www.bitcoinbeach.com/ https://www.bitcoinbeach.com/
- literallyWTF 4y agoDelusional