Re:Bitcoin has died 166 times, so far
by VMG on Wednesday September 20, 2017 @06:10AM
(#15292131)
> With these characteristics, nobody will ever want to use it as a payment method.
People have used gold as a payment method for millenia. If holding bitcoin is as attractive as you say it is, businesses will give discounts for bitcoin payment which can compensate the effect you describe.
In other words, if bitcoin is as attractive as you say it is, you would convert to fiat only when you want purchase something, and the merchant would immediately convert from fiat to bitcoin. Why would both parties in the transaction chose to transact in such an inefficient way?
People have used gold as a payment method for millenia. If holding bitcoin is as attractive as you say it is, businesses will give discounts for bitcoin payment which can compensate the effect you describe.
In other words, if bitcoin is as attractive as you say it is, you would convert to fiat only when you want purchase something, and the merchant would immediately convert from fiat to bitcoin. Why would both parties in the transaction chose to transact in such an inefficient way?