Re: permabulls not only lost the control over this section-in fact they are extinct
... Yes, the merchants I have purchased from have used a processor (BitPay in fact, is what I remember). Which is why, as I said, the transaction for me, the consumer, was instantaneous. It was an online transaction, so the moment it went through I was free to go on with my day.
If you used a payment processor, you did not buy with Bitcoin. What you did was find the most convoluted way of buying with fiat, something Rube Goldberg would be proud of.
It goes something like this:
Buy BTC with fiat, possibly pay fee.
Send BTC to the payment provider, who will
convert it to fiat & pay the merchant.
Such convenient. Wow.
Actually, it was very convenient. And in fact I did pay with bitcoins - that I mined. If the merchant chooses to keep those as bitcoins, then in fact there is zero fiat involved.
Forgive me. I forgot some of the steps in your Goldbergian scheme. Allow me to rectify:
Buy mining gear with fiat
Buy electricity with fiat
Waste time mining Bitcoin you could have bought for significantly less fiat.
Send BTC to the payment provider, who will
convert it to fiat & pay the merchant.
There. I think we're good now.
Contrary to what your salary failing to keep up with inflation (for 6 years!) would suggest, you're a smart & capable guy who clearly don't need no help from me or no grownup. You'll do just fine all by yourself.
~Happy Investing!
Ha ha ha! That's great - love it.Well, keep believing your view of things, and I'll stick with the truth. In the end, I actually enjoyed this exchange - kinda surprised me. Thanks for the rebuttals.
Cheers...