Post
Topic
Board Economics
Re: Bitcoin as a Medium of Exchange
by
aeternus
on 18/12/2017, 23:49:01 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.
I would say that was more true in the past that is why you saw people exchanging tens of thousands of bitcoin for pizza or stuff like that but as bitcoin has grown in value things have changed and the amount of bitcoin moving has gone down however the value those bitcoin carries has gone up, but as things stand today bitcoin is not a very good currency and steps need to be taken to change this situation as soon as possible.