Post
Topic
Board Bitcoin Discussion
Re: People think price it not important but it does matter a lot
by
practicaldreamer
on 03/11/2014, 22:09:03 UTC
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it. So why don't you just spend fiat directly?

Its a fair question though, isn't it, even if widespread adoption is what we all would like to see - and when you add on the various transaction/conversion fees of acquiring the bitcoin in the first place/lack of buyer protection - well, it doesn't, as things stand currently, make btc massively attractive for purchases.

To the average Jo, why not spend fiat directly ?

Or will btc eventually pan out to be a store of wealth only, like gold - or a reserve currency maybe ? A speculative investment ?


The whole point, for me, was that it offered the potential to democratise money to the people


There were once promises/dreams that purchases made via btc would be cheaper - as retailers would pass on the lower tx fees on to consumers - but they haven't.

Why not ?