interactiverobert

Excerpts from How is Bitcoin useful as a currency if so few services accept it? So why does no one accept bitcoin as a currency? Because it has no inherent value, and it cannot be used to settle a tax debt. And because it is insecure [no authority to assist with payment issues]. And because it does not 'play well' with a modern electronic economy [try explaining to a mom and pop shop how to set up a bitcoin wallet securely, and confirm their payment receipts on the blockchain, vs just paying Visa 3% and forgetting about it]. And because it is deflationary by nature [who wants to pay someone 10 BTC for a pizza worth $20 today, when it could be worth $200k in 5 years?]. And because it is volatile [who wants to accept 1 BTC today for $20k, when it could be worth $6k in 3 months?] So why does BTC have a value at all? Because it avoids 'know your client' banking requirements allowing money laundering or black market activity. And because people love to gamble. And becau...