Post
Topic
Board Beginners & Help
Re: Major Flaw in BTC (IMO)
by
RodeoX
on 03/04/2013, 14:06:30 UTC

Great idea, except for any business to succeed there needs to be cash flow. As long as I am unable to transfer BTC back to GBP the business wont last long  Angry
I think this is a short term problem also. Think about work arounds for the short term. A business could use BTC directly for some of it's needs. One can pay phone service, save profits, buy business insurance, and other things right now; without converting.

In the long term, forget conversion. You have more useful money when holding bitcoins, especially if you want to go global. I doubt however you will ever be able to pay your taxes in bitcoin, so you will need some pounds.