Re: NYC food trucks takin bitcoin now? but how do we get their suppliers too?
Imho you missed a point which is the actual reason why merchants can't hold or use their earned bitcoins. It's volatility.
Even if every part in the circle accepts bitcoin each merchant will immediately convert their btc to fiat because they can't play with bitcoins volatility, it's too risky to keep btc until they buy something with it.
Even if every part in the circle accepts bitcoin each merchant will immediately convert their btc to fiat because they can't play with bitcoins volatility, it's too risky to keep btc until they buy something with it.
Which is what i think banks are hoping for, they do not want BTC to succeed simply because they are losing their hefty fees that they would otherwise charge. I think the reason BTC is volatile is because banks have bought a fair bit of bitcoin and play around with them to show normal folk that BTC is very volatile, which in turn scares away the average joe from investing in BTC. Dirty game, but they need to do it to survive i guess
