Post
Topic
Board Economics
Re: Bitcoin as a Medium of Exchange
by
Younggiant2018
on 16/12/2017, 12:43:50 UTC
Many true Bitcoin enthusiasts actually prefer to use Bitcoin as a medium of exchange. They aren’t interested in investment or speculation or trying to sell at a profit.
Instead, they see Bitcoin as a way to engage in free association of trade without the need for governments to regulate the exchange. With Bitcoin, it’s possible to pay for goods and services instantly by transferring the digital money straight from your wallet to someone else’s digital wallet.
Yes. Its true that some of the bitcoin enthusiast uses bitcoin as the medium of exchange but this only in the world of cryptocurrency and is only limited to those business establishments that are accepting bitcoin for payments of goods and services. Bitcoin will be the universal mode of payment like USD which is convertible to any kind of paper currency.