Quote from: Cryptotina on September 17, 2017, 04:19:52 PM

So, a fiat-backed cryptocurrency? Pardon my naivety, but isn't the point of crypto is moving away from fiat?

There were a lot of attempts to adopt Bitcoin-backed platforms for micropayments in general, and gifting services in particular.

A few common problems of cryptocurrency usage in daily purchases:

Extra-high volatility.
Transaction confirmation period is much longer compared to credit cards.
High transaction fees even on micropayments.
To reclaim the fiat value, cryptocurrency needs to be exchanged on exchanges.

Who would purchase a gift card if nobody can tell how much it will cost tomorrow? For example, you want to say thank you to your partner for a help with some business, so you are sending him a gift certificate for a dinner in a cool restaurant. Just imagine how angry he would be (and how it would be uncomfortable for you) if he visits the restaurant in a week and the waiter says that he needs to pay 30$ more by himself (because Bitcoin and all other cryptos lost 20% of value during last two days).

With such volatility the Bitcoin (Litecoin, Ether, Dash, ) is not an option for e-gifts.

P.S. Sorry for the late response. Sometimes we just don't receive email notifications regarding thread replies from the Bitcointalk. Sad

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