Post
Topic
Board Economics
Re: Bitcoin as a Medium of Exchange
by
JL421
on 11/01/2018, 08:20:51 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.
Bitcoin would be a good medium of exchange if it was more popular among laymen and if the price was more stable but nevertheless, it's a very good idea to use it as a medium of exchange as the price rates make it profitable for both the dealer and buyer in the market.