Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
When you said "purchase everyday things," I didn't realize you meant meth and child porn. I stand corrected 
As far as less shady stuff? Those merchants accept dollars, not BTC. That's why the BTC price is calculated for you at the moment of purchase from the real price.
I did mean everyday things. You said illegal items. I asked for proof. Non provided. Whatever, I'm off to do other things. Have a good day! As far as less shady stuff? Those merchants accept dollars, not BTC. That's why the BTC price is calculated for you at the moment of purchase from the real price.
Pretty weak comeback NLC, I expect higher quality trolling from you.
Because you're using dollar or pound or euro to buy things. That's why those things are priced in dollar or euro or pound, and BTC price is calculated at the exact moment you initiate the transaction.
If you enjoy the game of buying BTC with your money (paying a fee for the privilege), handing that BTC to a payment processor (which also profits from the deal because not charity), which, in turn, converts BTC to real money & pays the merchant you transact with, so that you can risk your money yet again on some shady exchange while BTC price pogoes around like it does ...breathe... you be my guest, but don't expect me to take your game seriously
No, I am using bitcoin to buy stuff that has a fixed price in fiat. Of course the exchange fees don't make this a consumer friendly option yet for most use cases. At the moment bitcoin enthusiasts are sponsoring exchanges and payment processors in order to make orders with bitcoin. But we are still in the bootstrapping phase, not at an end equilibrium. If I would be able to use my bitcoins almost anywhere, it removes an argument for not holding bitcoins ("can't spend them anywhere") and use cases where it might be desirable will start popping up. eg. going abroad and not having to exchange your fiat currencies. The current volatility would still stop most people from doing that, but if the fees for acquiring bitcoins are lower than fees for converting fiat money, the expected value is positive.
If I said "can't spend BTC anywhere," you would be justified in asking me to defend such a silly statement. But since I didn't, and you tried to stuff those words into my mouth, I won't.
The problem isn't that you can't spend BTC. You can spend anything, including rusty VW Beatles and recyclable plastic bottles. Though recyclable plastic bottles are a far better store of value than BTC, neither one of us would suggest that they're money. Not even if a bum agrees to take them to a redemption center and exchange them for money in exchange for a small fee or totally ripping you off.