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by zenlikethat
3104 days ago
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I doubt it's about the government like another poster mentioned. Cash works great to subvert the government and that's exactly what a lot of little shops do. It's probably because as a merchant: 1. You don't want to _ever_ wait 45 minutes for a transaction to potentially be confirmed on the blockchain. Even before the recent craziness and high fees this would sometimes happen. 2. The price fluctuates wildly. Pretty hard to reason properly about whether or not you'll be able to pay your employees this week if your "store of value" could drop 20% or more at a moment's notice. 3. The fees charged by exchanges to convert to fiat are exorbitant. Unless all of your suppliers and handymen take Bitcoin, you will get screwed by this on the regular. The bulls usually scream "Lightning network, scaling, store of value" or some other nonsense, but the truth is, today Bitcoin is garbage as an actual currency. |
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