Re:Coinbase from YC to DPO
by kelnos on Wednesday April 14, 2021 @09:48PM
(#26815334)
The number of things I can exchange dollars for vastly outnumbers the number of things I can exchange Bitcoin for, by orders of magnitude.
In this case convenience is necessity, for practical, real-world definitions. Sure, in a theoretical sense, there is no reason why I couldn't use Bitcoin to buy food and clothing, make rent/mortgage payments, buy plane/train/bus tickets, buy furniture, tools, electronics, etc. But the reality is that I can't do it (with some narrow exceptions), and I don't see that materially changing within my lifetime, not to the point where using Bitcoin (or any other up-and-coming cryptocurrency) is more convenient that using fiat currency.
Re:Coinbase from YC to DPO
by thebean11 on Thursday April 15, 2021 @02:30PM
(#26824397)
Yes but that would obviously no longer be true if dollars no longer "worked" (let's say 10k% inflation for the sake of argument). There would be _something_ of value that things could be exchanged for.
In this case convenience is necessity, for practical, real-world definitions. Sure, in a theoretical sense, there is no reason why I couldn't use Bitcoin to buy food and clothing, make rent/mortgage payments, buy plane/train/bus tickets, buy furniture, tools, electronics, etc. But the reality is that I can't do it (with some narrow exceptions), and I don't see that materially changing within my lifetime, not to the point where using Bitcoin (or any other up-and-coming cryptocurrency) is more convenient that using fiat currency.