Quote from: avikz on August 25, 2021, 11:50:58 AM

Quote from: DaveF on August 25, 2021, 11:38:16 AM

Was having a discussion with someone getting who is getting into BTC the other day about the 'living on crypto' movement.
Mostly about the people who want to get paid in BTC / crypto and only spend BTC / crypto staying away from banks.

Personally I wouldn't want to live on crypto because of a very simple reason, the extreme price volatility. So today if the bitcoin price is very high and it is my salary date, I will be receiving less unit of bitcoins. And tomorrow, if the bitcoin price drops by 15%, I will be spending more units of bitcoin to buy my regular supplies.

To be honest, bitcoin has not reached that point where it can be considered as a regular currency. Things might be different for El-Salvador people, but for the rest of the world, it is still an investment with extremely hugh growth potential.

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Was an interesting discussion as to where we stood. And was just wondering how everyone else thinks.
Gift cards? Debit cards? Get paid in BTC and convert to USD (or whatever) and put into your bank?

For the use as a currency, it's always better to have the reference of USD so that we can ensure that we aren't spending more than the retail price of a product.

1 bitcoin = 1 bitcoin formula doesn't apply here! The price swing still doesn't make bitcoin a spendable currency. If bitcoin price stabilizes, then possibly more people will be interested in using bitcoin as a currency system. But as of now, I personally would want to save every bit of my bitcoins rather than spending it.

That’s right, now it is impossible to use only crypto everywhere. First of all, it is not accepted mostly. Secondly, it is still very volatile. But what if it will replace fiat money completely? We wouldn’t know its equivalent in dollars, we would just see the prices of goods and make our conclusions, but marchants would set prices based on the level when people agree to buy, so Bitcoin wouldn't be so volatile anymore.