Quote from: pooya87 on July 16, 2015, 07:14:33 AM

Quote from: loiterin9 on July 15, 2015, 05:05:05 PM

Bitcoin is NOT a currency!

In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?

If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!

What do you think?

this is always what i say and concerns me.

bitcoin is not "YET" a currency, you can use it as a currency but it is still an investment with somewhat of a high risk.

this is why all the places that are accepting bitcoin, they immediately dump it for fiat instead. so as for your example if the price goes up to $300, you won't get a 1BTC refund instead you will get ~0.83BTC refund because the shop is dealing in fiat not bitcoin. they are just accepting bitcoin which is then converted into fiat.

also that is why you will always see the prices in USD and the equivalent in bitcoin, not a fixed bitcoin price.

If i would follow your argument then this would mean that a hyperinflating currency, like the zimbabwean dollar, is no currency too. I mean merchants would do good to only accept US-Dollar instead, or exchange their zimbabwean dollar to something more worthy instantly. Only then they can be sure that their money isn't worth half next day.