Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: bolobaby
I guarantee these sellers are liquidating their Bitcoins for actual money as soon as fast as humanly possible.

Assuming you are correct, bitcoin is proving to be an effective "medium of exchange", allowing people to easily transfer payment for goods. Whether the retailer holds onto the coins is immaterial in that respect.
4 posted on 03/31/2014 4:03:43 PM PDT by mmichaels1970
[ Post Reply | Private Reply | To 3 | View Replies ]


To: mmichaels1970
Assuming you are correct, bitcoin is proving to be an effective "medium of exchange", allowing people to easily transfer payment for goods.

That is a significant invention indeed, because up to this very day I have to carry gold coins to the vendor if I want to buy something, as there is no conventional technology that would allow me to pay by giving the vendor some sort of a long, secure number over the telephone or the Internet... a number that a bank would issue, for example... too bad that they never do that :-)

The criterion of "easy transfer of payment for goods" is a very low bar. People all over the world do it every day, and the payment mechanism is the least of our problems. It's not like we have to look around for the nearest licensed moneychanger, with scales and a table, whenever we want to buy a gallon of gas, or a pizza. Bitcoin may *also* be easy enough (if you carry a computer with you, and if you don't mind waiting 15 minutes for six confirmations, and if you don't mind having no money back guarantee in case *anything* goes wrong) - but that doesn't make it *better* than other systems. A newcomer has to do something better, otherwise why to bother?

6 posted on 03/31/2014 5:06:11 PM PDT by Greysard
[ Post Reply | Private Reply | To 4 | View Replies ]

To: mmichaels1970
Assuming you are correct, bitcoin is proving to be an effective "medium of exchange..."

So is a credit card, but better.

15 posted on 04/01/2014 8:50:10 AM PDT by bolobaby
[ Post Reply | Private Reply | To 4 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson