Does anyone know of retailers which sell goods/services for crypto only with no option of payment made in fiat?
Could this represent a good business model for a small store with an online only presence?
There must be some holding alts who are fustrated by the lack of options in terms items they can spend their coins on. While there are many options for bitcoin, for the most part alts are neglected and there isn't a huge market where they can be utilized without first having to convert to btc.
Could support for ripple, eth, bcc, doge, ltc, dash and other alts be a good foundation upon which to build a small business?
Could this represent a good business model for a small store with an online only presence?
There must be some holding alts who are fustrated by the lack of options in terms items they can spend their coins on. While there are many options for bitcoin, for the most part alts are neglected and there isn't a huge market where they can be utilized without first having to convert to btc.
Could support for ripple, eth, bcc, doge, ltc, dash and other alts be a good foundation upon which to build a small business?
I strongly believe in Bitcoin only stores, but do believe they are a bit premature. Here's why:
Bitcoin must first become a true medium of exchange(or currency). At the moment, because of its volatility, it is treated more as a commodity.
Commodity currencies have proven better time and time again, but due to greed and practicality, Fiat money is king. Now, Bitcoin has solved the traditional problems commodity currencies have faced, like scarcity, divisibility, convenience, etc.
BUT, here's the good news:
According to Austrian Economics, a commodity that comes into general use as a medium of exchange is money. The concept of a "medium of exchange" is precise. But when exactly comes a medium of exchange into "common" or "general" use is not strictly definable.
So it is definitely the future. At what point it happens, and how it happens remains to be seen.