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I think a lot of people here would benefit from reading some William Gibson novels. I don't think the BTC will ever be a 'currency' as the USD or the GBP. It i
by SODaniel 13y ago
I think a lot of people here would benefit from reading some William Gibson novels.
I don't think the BTC will ever be a 'currency' as the USD or the GBP. It is also not necessary for the BTC to be at a 'fixed value' at any time. As a virtual currency it's ok for the BTC to fluctuate heavily as the only thing needed for it to still succeed is that payment systems are 'always on' and can determine a spot price for goods and services.
I would rather see the BTC tied to 'Pizza index' than USD. This would make it easy for people to use an in-app value determinator when making purchases.
Say you just tap your phone with a BTC wallet against a cash register. The register answers, well your burger will be 0.00065 BTC at spot price as of 12.24.44.32 PM. Accept/decline.
That's it. I see the BTC/LTC (Litecoin) as alternative currencies but still worthy of a HUGE market share for micro/everyday transactions.
- millstone 13y agoWhy would I want to maintain a bitcoin wallet if its value fluctuates heavily every day? Would you want your checking account to do the same?
- sliverstorm 13y agoThis is why I wonder whether a company will come along and offer point-of-sale BTC to USD (or other). They could perhaps issue plastic cards to their users for making payments, and charge businesses 2.5% of the transaction for their services.