Re:I, Token: The untold story of the hole in Bitcoin's heart
by IncRnd on Saturday July 31, 2021 @05:19PM
(#28021642)
Too bad that bitcoin can't actually be used as money at the grocery store, to purchase a car, to buy fertilizer, or in any of a billion other ways that money can be used.
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Re:I, Token: The untold story of the hole in Bitcoin's heart
by decodebytes on Saturday July 31, 2021 @05:55PM
(#28021876)
Not here to defend bitcoin, but that's not true. You can buy all three of those (to varying degrees in different countries).
Re:I, Token: The untold story of the hole in Bitcoin's heart
by IncRnd on Sunday August 01, 2021 @04:02AM
(#28024636)
The important thing is that I can't buy them where I live, and neither can anyone I know. No - people cannot use bitcoin as a real-world currency to perform daily tasks. Can you right now stop all transactions in dollars or other currency and do everything in bitcoin? My guess is that no you cannot.
Re:I, Token: The untold story of the hole in Bitcoin's heart
by rantwasp on Saturday July 31, 2021 @11:45PM
(#28023631)
i will bet you real bitcoin that given enough time you'll be able to make all those transactions. there is absolutely no reason for someone to not accept bitcoin when they can literally turn around and convert it in fiat if they don't like holding it immediately.
Re:I, Token: The untold story of the hole in Bitcoin's heart
by IncRnd on Thursday August 12, 2021 @07:49PM
(#28163307)
There are loads of reasons why people will not deal in bitcoins. One reason is what happened at Poly Network since you posted your comment.
Bitcoin and Crypto in general are filled with thieves and scam artists. Just because some ethical people can navigate that minefield at relatively low dollar transactions - that doesn't mean many people or businesses want to stake their livelihoods on it not failing.
Re:I, Token: The untold story of the hole in Bitcoin's heart
by tfigment on Sunday August 01, 2021 @01:16AM
(#28023953)
Time is a problem. If you lose value in time it takes to convert its not good. Most businesses don't care if the value increases nearly as much as it decreasing. Bitcoin volatility does not help it's case. I guess we trust banks will always be available to get dollars out when needed.
Re:I, Token: The untold story of the hole in Bitcoin's heart
by magicsmoke on Sunday August 01, 2021 @01:20AM
(#28023966)
You should rethink that phrasing. That's a heads I win tails you lose kind of proposal.