Post
Topic
Board Bitcoin Discussion
Re: The smartest article on why Bitcoin won't become the next currency
by
DannyHamilton
on 09/04/2013, 04:05:51 UTC
- snip -
How can we make it get to a point of equilibrium sooner rather than later?

Mostly all we can do is wait while the free market works it out.

Services such as BitPay help quite a bit though.

They allow merchants to use bitcoin as a payment network rather than a currency.  This minimizes the risk for both the Consumer and the Merchant as each only holds the bitcoin long enough to perform the transaction.  Meanwhile the exchanges back and forth to enable the transaction add liquidity to the market.  The visibility of merchants advertising that they "accept bitcoin" adds to it's perceived validity and create a situation where a merchant can opt to keep some of the receipts in bitcoin to pay their vendors.