Facebook, Libra, and the Long Game

Re:Facebook, Libra, and the Long Game by headsoup on Tuesday June 25, 2019 @09:43PM (#20281146)

So long as someone is there willing to pay the same price for those coins. Do the grocery stores, butchers and other providers accept Bitcoin there? How do they value their goods against a 'currency' that is growing X00% weekly?

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Re:Facebook, Libra, and the Long Game by conanbatt on Tuesday June 25, 2019 @11:34PM (#20281664)

You have brokers that move dollars for bitcoin. So you turn it to actual cash. The key part is that there is no bank involved at any step.

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Re:Facebook, Libra, and the Long Game by gomox on Tuesday June 25, 2019 @10:02PM (#20281239)

The mild fluctuations of the Bitcoin price can look like a walk in the park compared to the Venezuelan local currency.

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Re:Facebook, Libra, and the Long Game by headsoup on Tuesday June 25, 2019 @10:12PM (#20281288)

I'm not familiar with the history, but is Venezuela's currency constantly volatile or are recent events an anomaly? How do you define Bitcoin's fluctuations as 'mild' - i.e what are you comparing it to other than the local currency to determine stability?

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Re:Facebook, Libra, and the Long Game by gomox on Tuesday June 25, 2019 @11:54PM (#20281756)

The comment was mostly tongue in cheek. Venezuelan currency has been hyperinflating for a while. So people are used to referencing prices in currencies other than the one used for the actual payment.

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