Post
Topic
Board Bitcoin Discussion
Re: Why local currencies when there is bitcoin ?
by
Ultegra134
on 17/07/2023, 21:06:18 UTC
Op is talking about micro currencies which operate in certain localities within a country besides the legal tender which is used all over the country. We don't have them in my country, but I have read a bit about them being used in communities in other countries.
What's the point of these microcurrencies, then? At first, I thought that the OP was talking about fiat currencies; this is the first time I'm reading about local currencies, and even by translating and reading the articles provided in the starting post, I'm yet to understand what they actually are and what their purpose is. What are they based on, and why is there a need to have over 80 local currencies in France? Have we returned to the good ol' days when we were exchanging eggs for bread and so on?

Moreover, the main reason I don't see Bitcoin as a viable currency anymore is because it is nowadays deemed an asset that appreciates in value. On the one hand, you have fiat currencies, which, due to inflation, constantly depreciate in value, and on the other hand, Bitcoin, which is an anti-inflation measure and is expected to gain value in the upcoming years.