Post
Topic
Board Bitcoin Discussion
Re: Act local and think global
by
PhoenixZephyrus
on 04/02/2023, 16:09:07 UTC
its not about trying to bang peoples heads against the wall to drop fiat and only use bitcoin.

its about just telling them there is a different option
its like telling them instead of bank accounts that offer 0.001% interest gains
there are credit unions that offer 2% gains

its not about converting carnivores into vegans. its about saying try some potato alongside their steak

its not about asking a beer alcoholic to get sober and drink water. its about offering him a fine wine or a whiskey

Yeah I understand that. But currently the extent of adoption that Bitcoin has had in today's society makes it just another form of accepting money that will essentially be converted to fiat. Its currently not a unit of account anywhere. Like, if a shop has a bitcoin price for something, that's not the true bitcoin price, rather a converted price for the fiat amount the shop owner is willing to accept. If bitcoin falls against the particular fiat currency, the asking bitcoin price would increase exponentially for that item.

Only when merchants are willing to accept bitcoins for payment without regard to the bitcoin exchange rate against fiat currencies can we truly think of Bitcoin as having become a unit of account. For that they need to be willing to see that alternatives to fiat exist too. Unless a large part of the population accepts that Bitcoin has some sort of inherent value (rather than just being an exchange thingy to convert to fiat later), its not really going to be a true currency.