Post
Topic
Board Economics
Re: New Hampshire bill to allow taxes to be paid in Bitcoin falls short
by
alyssa85
on 19/01/2020, 11:04:09 UTC


Question for you and everyone else...how long would the price of Bitcoin need to be stable before people started using it more as a medium for exchange rather than a store of value? Would $10k/BTC for a year be enough? for five years?

The fluctuations would need to be similar to that of fiat currencies trading against each other. So no more than 10% in a given year, and on a month-to-month basis, about 2% to 5%.

Anything more than that and people can incur unacceptable losses. The people who accepted bitcoin for services in Jan 2018 and didn't immediately change it to fiat would have lost 50% within six months. No business can sustain losing revenue like that.

This is why I think alts like Doge might be the answer. They don't move much in dollar terms (they fluctuate between $0.0002 and $0.00025)