Re:Mozilla Foundation pausing cryptocurrency donations
by kragen on Thursday January 06, 2022 @08:11PM
(#29833293)
You mean, real estate would be priced in Bitcoin, and transactions would be carried out in Bitcoin instead of USD, the way they are today? That would be awesome! A huge vote of confidence in Bitcoin! It would really go a long way to damping Bitcoin's price volatility worldwide, too, by essentially pegging it to physical-world goods with durable value, even if they aren't portable goods.
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Re:Mozilla Foundation pausing cryptocurrency donations
by lottin on Sunday January 09, 2022 @10:34AM
(#29864098)
Denominating prices in BTC doesn't magically make the price of BTC any less volatile. Prices would have to be updated several times every day.
Re:Mozilla Foundation pausing cryptocurrency donations
by kragen on Tuesday January 11, 2022 @11:55PM
(#29902499)
It's true that if you can update prices instantly, offering a trade doesn't stabilize the prices of the things you are offering to trade. But that is not how the real estate market works; bids and offers are made with a validity time measured in days or weeks, not minutes, and asking prices are often printed in office windows.
But it's a silly idea. It's not going to happen, and the point of my comment was to explain why.