Post
Topic
Board Speculation
Re: Why the Ukrainian crisis is bullish for BTC
by
exocytosis
on 03/03/2014, 23:30:00 UTC

Travel to Ukraine and try to live a month while using only BTC. Then decide how irrelevant it is.
People have done these tests in more developed countries and found it very very hard. 99,9% of Ukrainans will probably start to make fun of you, when you try to offer them bitcoins to pay your rent, bills or just get something at the convenience store.

Most of the cultists here can't understand how dependent bitcoin is to the $. Bitcoin has a childish fixed coin supply, so it needs fiat to give it value. That is the reason why stores aren't accepting bitcoins without bitpay. There is very little use of an volatile and unpredictable currency without the support of fiat.


Quoted for truth. I've been trying to explain this to people, but you did it far more eloquently.