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> The fact that the few merchants willing to accept bitcoin generally convert to dollars right away suggest an underlying lack of faith in bitcoin—or at least a
by pinarsezer 13y ago
> The fact that the few merchants willing to accept bitcoin generally convert to dollars right away suggest an underlying lack of faith in bitcoin—or at least a problem with the volatility.
Few merchants accept gold either. Yet gold reserves in the world amount to US $8.2 trillion in value.
Edit: removed part on volatility
- crististm 13y agoGiven the choice I think they will not have a problem in picking gold instead of bitcoins. Gold has some history behind it, and compared to bitcoins is more liquid and less volatile. (volatile for about 3000 years - do you mean available?)
- fragsworth 13y ago> Gold has some history behind it "It has history behind it" really seems like a fallacy to me. Many things had histories and were replaced, or changed dramatically, due to new technologies. Horses, swords, aluminum, newspapers... I see Bitcoin being a very realistic threat to the high price of gold.