Post
Topic
Board Bitcoin Discussion
Re: Why local currencies when there is bitcoin ?
by
stompix
on 17/07/2023, 23:46:11 UTC
Local currencies are not fiat currencies either.

You mean they are not national currencies or legal tender currencies.
They are fiat currencies as they are issued by a centralized authority and they aren't backed by anything like gold or silver!

A friend was bragging to me about the merits of her local currency, but I wonder what's the point since we have bitcoin? Bitcoin which obviously includes the world population.

Because most of them as far as I browse around are pegged to the euro, you will not have to worry about the value going up and down evey time :
https://pezh.bzh/
https://laracine-monnaie.fr/adh%C3%A9sions
and most important fees, the town hall, council whatever is taking care of the fees so those card transactions are cheaper than traditional ones, plus since it's a smaller closed circuit you're going to feels after as it can't be used outside that area so it's like someone getting access to your north Korean bank account! Grin