Re:Bitcoin's comeback: should Western Union be afraid?
by DTanner on Wednesday December 21, 2011 @04:36PM
(#3379269)
That's why I said "eventually", the user-base isn't quite there yet. I could see people just keeping $50-$100 in Bitcoin permanently to use for small transactions, much like I always have $100-$200 in cash in my wallet for small purchases, or $1000-$3000 in my bank account just as a buffer.
I don't see that happening anytime soon though with the huge volatility.
Re:Bitcoin's comeback: should Western Union be afraid?
by weavejester on Wednesday December 21, 2011 @09:24PM
(#3380059)
Needing two exchanges instead of one is a disadvantage in the short term, but a big advantage in the long run, because the receiver of money can whatever exchange they prefer, rather than they expect to be most popular with their audience. In essence, Bitcoin is an open protocol for electronically transferring wealth.
Dollars are not inherently better, but at least I can immediately spend one and get a soda from the gas station. Until Bitcoin reaches that point, people will be sending dollars over Paypal.