Post
Topic
Board Bitcoin Discussion
Re: Should bitcoin really be used as currency?
by
Mpamaegbu
on 23/06/2021, 10:10:28 UTC
It doesn't seem right that if a family has their money in bitcoin and can afford their rent and bills one week and the next week some western US bank or 'influencer' decides to dump their holdings or cause FUD and cause a 20% drop and then that family cant pay their rent or have enough for all their food shopping the next week right?
It's a win or lose situation if you're looking at it from that perspective. What if Bitcoin price jumps to 100% plus around the period in question, will the family involved throw away the excess profit? No? Well, it can go either way. However, the best approach to this if the family doesn't want to risk it is to tether the Bitcoin. At least that way, the family is assured of paying rate, whether Bitcoin drops in price or not.