Post
Topic
Board Bitcoin Discussion
Re: Does Bitcoin really need an ATM?
by
knight22
on 22/07/2012, 21:19:19 UTC
So, my question is why. And thinking about the question I found that Bitcoin is not what people need. It will, when it  succeedes (I'm optimistic about Bitcoin) be an extraordinary medium of storing wealth, something like gold today, with the additional advantages that everybody in this forum knows. But I don't think that people need to change their salary to Bitcoin (price fluctuations aside), exactly, again, as they don't need to buy gold with their salary. It's just not worth it. Bitcoin is not useful for buying bread. You can argue, of course, that if the baker accepted Bitcoin, people could use them to buy bread. But why would the baker accept Bitcoin, if he must pay his taxes in euros? It just adds more headache to his accountant.

For now on, of course merchants are not very willing to accept bitcoin. Actually Bitcoin needs people that know its potential and will invest by buying some. When enough people will have invested in bitcoin, the price will rise enough to give bitcoin a good purchasing power that will encourage merchant to accept it. Meanwhile, it's a good thing that some people are working on a bitcoin ATM because when the purchasing power will rise at that point, bitcoin will be ready to spread and be use by merchant.