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Title: What happens when people don't need to convert to fiat? Post by: btcKaboom on April 17, 2014, 06:09:02 PM When everyone uses bitcoin, will get to a point where ppl won't even accept fiat for bitcoin.
Like the matrix Neo: r u telling me I'll be able to sell my coins for 1mil each? Morph: no neo. I'm saying when bitcoin is ready, you won't have to But first, there needs to be things everyone wants, but only bitcoin can buy. For most ppl Ideology and price speculation won't be enough. Title: Re: What happens when people don't need to convert to fiat? Post by: master-P on April 17, 2014, 06:23:06 PM If they don't need to convert it then they won't. But something tangible will always be used as money by many, even if virtual currencies take over.
Title: Re: What happens when people don't need to convert to fiat? Post by: zimmah on April 17, 2014, 09:25:16 PM nah i'd buy stuff with bitcoins once the price has risen a lot, because otherwise i'd have to transfer bitcoins to the exchange first and i'll hit the $10.000 withdrawal limit if i want to buy a car or something.
If they don't need to convert it then they won't. But something tangible will always be used as money by many, even if virtual currencies take over. only by old farts really, the current age is used to a virtual life. Pretty much their whole life is virtual. I mean people communicate more to each other on facebook and whatsapp than they do in person. They are glued to their mobile phone which is constantly connected with the internet. Having internet money is only a logical next step. Title: Re: What happens when people don't need to convert to fiat? Post by: BitcoinBobbeh on April 17, 2014, 09:45:48 PM nah i'd buy stuff with bitcoins once the price has risen a lot, because otherwise i'd have to transfer bitcoins to the exchange first and i'll hit the $10.000 withdrawal limit if i want to buy a car or something. If they don't need to convert it then they won't. But something tangible will always be used as money by many, even if virtual currencies take over. only by old farts really, the current age is used to a virtual life. Pretty much their whole life is virtual. I mean people communicate more to each other on facebook and whatsapp than they do in person. They are glued to their mobile phone which is constantly connected with the internet. Having internet money is only a logical next step. Don't know about you, but I think my cut-off for "old fart" isn't as broad as liking tangible objects. Title: Re: What happens when people don't need to convert to fiat? Post by: Ibian on April 17, 2014, 10:15:34 PM I will never exclusively use virtual currency. It's nobody's business how I spend my money and for the purpose of privacy paper is still the best. Also zimmah is a fool pay him no attention.
Title: Re: What happens when people don't need to convert to fiat? Post by: zimmah on April 18, 2014, 02:46:15 PM I will never exclusively use virtual currency. It's nobody's business how I spend my money and for the purpose of privacy paper is still the best. Also zimmah is a fool pay him no attention. what do you base that opinion on? Title: Re: What happens when people don't need to convert to fiat? Post by: Torque on April 18, 2014, 03:04:52 PM Well, there are certainly similar currencies that are working this way, albeit on a much smaller scale:
http://brixtonpound.org/why-use-b-2/b-benefits/ Bitcoin has the potential to be the universally accepted "brixton pound" for the whole world. |