Post
Topic
Board Bitcoin Discussion
Re: Don't believe in digital money? Well...
by
BlackHatCoiner
on 01/06/2021, 17:43:45 UTC
For the merchants it may be easier, they just need a payment processor that accepts Bitcoin and transfers them fiat into the bank account
While that may work in practice, it's highly ironic. I use my fiat to buy Bitcoin, then I purchase your product using Bitcoin, then you sell your Bitcoin to earn fiat. What's the point of Bitcoin in the first place? Isn't it unnecessary? Why would merchants accept Bitcoin as a payment method if they don't insist on its main purpose/philosophy?

It was created to prevent the requirement for a financial institution. Not to add an extra layer around it.