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Title: Bitcoin and thin margin businesses (and its corollary) Post by: airhead194 on April 15, 2013, 11:47:57 PM Bitcoin is neither stable nor a currency...yet. Ultimately, it is up to the market to decide what a BTC economy will look like.
As of now, it is infeasible and impractical for thin margin businesses to accept BTC given its volatility. This is why Amazon, the grocery store, and the gas station will not take BTC for the foreseeable future--and I see this as a huge impediment to the growth of the BTC economy. This is partially why I believe that cryptocurrencies will be more of a complementary feature in the world economy than a dominant one (again, for the foreseeable future). Perhaps it will be the inherent nature of BTC (a pseudonymous, finite, globally transferrable, and completely transparent system) that will give it its value, and not how many Alpaca socks can be bought with it. Thoughts? |