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jonanon (OP)
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August 07, 2014, 11:29:16 AM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
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"In a nutshell, the network works like a distributed
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Foxpup
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August 07, 2014, 11:39:40 AM |
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Will pretend to do unspeakable things (while actually eating a taco) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4I am not on the scammers' paradise known as Telegram! Do not believe anyone claiming to be me off-forum without a signed message from the above address! Accept no excuses and make no exceptions! |
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jonanon (OP)
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August 07, 2014, 11:48:51 AM |
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Sorry you'll have to forgive me I have no idea what that means..... |
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qwerty555
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August 07, 2014, 11:53:07 AM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
1 some people do take small losses on purchases because of the principle 2 Those with the eventual objective of an all bitcoin economy have to initially deal with the reality that while getting to that point it takes time for all the things they need/want to purchase to be available in bitcoin only. 3 During that process a fiat/$ reference allows them to estimate relative value in the existing economy...eventually the reference can be purely bitcoin..but of course if fiat still exists it will always be compared 4 why not?....freedom of choice.. not everyone interested in bitcoin share that principle but many do. |
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inBitweTrust
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August 07, 2014, 11:55:53 AM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
While Bitcoin remains volatile their is no problem using stable units of currency as a unit of value while Bitcoin is used both as a secure payment mechanism and than stored as bitcoin so individuals don't lose their money through the theft of taxation or inflation. Using Fiat like the USD or Euro as the unit of value during a transaction doesn't support fiat outside of psychological recognition those are more stable currencies. In the future when bitcoin stabilizes more this will also drop. |
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jonanon (OP)
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August 07, 2014, 11:57:02 AM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
1 some people do take small losses on purchases because of the principle 2 Those with the eventual objective of an all bitcoin economy have to initially deal with the reality that while getting to that point it takes time for all the things they need/want to purchase to be available in bitcoin only. 3 During that process a fiat/$ reference allows them to estimate relative value in the existing economy...eventually the reference can be purely bitcoin..but of course if fiat still exists it will always be compared 4 why not?....freedom of choice.. not everyone interested in bitcoin share that principle but many do. Some good points there. I was merely meaning that quicker adoption of bitcoin as a whole may ensue if some of the bigger users started to refer to things with a BTC value putting fiat second. |
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franky1
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August 07, 2014, 12:08:28 PM |
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3 During that process a fiat/$ reference allows them to estimate relative value in the existing economy correct. as i know that exchanges show dollar amounts. so its not about bitcoin being fixed to dollars because i in england tell people a POUND value, so its all about heling the person infront of you understand the local value of bitcoins. and nothing to do with a dollar pegged price. another way of thinking about it. imagine the world which was more used to, which fully understood, and really grasped the 'cost of living index' then we would say bitcoin is 1.5 of COL. even if exchanges were measured in dollars or the person was chinese, russian whatever. its purely about getting bitcoin recognized in a value the other party would accept and understand. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Foxpup
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August 07, 2014, 12:09:22 PM |
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Sorry you'll have to forgive me I have no idea what that means.....
Google is your friend. |
Will pretend to do unspeakable things (while actually eating a taco) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4I am not on the scammers' paradise known as Telegram! Do not believe anyone claiming to be me off-forum without a signed message from the above address! Accept no excuses and make no exceptions! |
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hilariousandco
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August 07, 2014, 01:10:24 PM |
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Pricing things in fiat is easier for everybody. If I want £10 in btc for something the btc at the time I listed it might be worth more or less a few minutes later so you peg it to your currency of choice for convinience and simplicity.
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bitsmichel
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August 07, 2014, 01:15:42 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
Because the BTC price fluctuates more fast than fiat, al though it has been very stable in the last months. I think the people are also getting used to all the units, uBTC, mBTC, bits and what not. |
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zhinkk
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August 07, 2014, 01:15:46 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
Not really a good argument, at least for now. Bitcoin is volatile. I want $50 of value for my item. It's easier to list in USD for now until btc becomes the standard. |
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Ron~Popeil
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August 07, 2014, 03:41:52 PM |
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It is a familiar denomination. Changing the way we think about something takes time. Many of us all ready take losses when we transact business because we pay exchange fees to top off our stash when we spend bit coin.
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elliwilli
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August 07, 2014, 03:48:04 PM |
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Because it gives people a representation of the price that they are more used to. allowing them to be able to judge the price and therefore if they think it is worth buying almost instantly whereas if it was priced in BTC the person looking would have to go to preev or something similar in order to get a representation of the value that amount of BTC holds.
It is exactly the same as saying "when people use a new language why don't they use exclusively that"
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Razick
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August 07, 2014, 04:14:24 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
Dollars are a more reliable unit of account at this time. Also, when you are selling to a public not yet familiar with BTC it makes the concept easier for them. If I was selling a service such as software with no marginal cost of production only available in Bitcoin most likely I would price it in BTC, otherwise, pricing would be in USD with BTC payment available. |
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arbitrage001
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August 07, 2014, 04:20:34 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
Dollars are a more reliable unit of account at this time. Also, when you are selling to a public not yet familiar with BTC it makes the concept easier for them. If I was selling a service such as software with no marginal cost of production only available in Bitcoin most likely I would price it in BTC, otherwise, pricing would be in USD with BTC payment available. And the merchant has supplier cost which is price in FIAT rather btc. Volatility could prove to be downfall for crypto currency. |
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keithers
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August 07, 2014, 04:21:58 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
It is because a large percentage of people will be more than likely converting it back to fiat when they need the money. Or it can be so people can see the equivalent price in dollars in case they have never used BTC before |
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jonanon (OP)
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August 07, 2014, 04:35:01 PM |
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Lots of fair points being raised. Maybe we are still a way away from this ideal - hopefully not too far  I still would like to be able to buy everyday essentials with BTC knowing it costs x BTC not x amount of dollars worth of BTC - but I suppose we need to get to shops actually selling food for BTC first |
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TheButterZone
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August 07, 2014, 09:46:17 PM |
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Ok my violin is no longer pegged to fiat, using the pizza index it is now BTC266,666.667.
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Saying that you don't trust someone because of their behavior is completely valid.
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Omikifuse
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August 07, 2014, 10:36:57 PM |
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Bitcoin price varies, we need to have some reference.
Also most of commerce is still fiat, and no bills can be paid with bitcoin, so fiat is the reference
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beetcoin
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August 07, 2014, 10:56:04 PM |
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
it's not as simple as you think. bitcoin's price is always rising, so .02 btc is not the same today as it is tomorrow. plus, fiat is our point of reference, since bitcoins are denominated into decimals. it's hard to scale them. |
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