I would also add that when you buy bitcoin, it's with fiat and when you spend it, the merchant is most likely converting it back to fiat. There's no reason to spend bitcoin
I would also add that when you withdraw a banknote from an ATM, its not bank account balance, its paper.. when you spend it the merchant most likely converts it back to bank account balance. there's no reason to spend banknotes
Edit: I also wanted to say that if any of these bitcoin exchanges were legitimate enough to go public, I'd probably think about investing FIAT in them, sort of like E-Trade or something. I have a feeling none of them will. I might invest in Circle or Coinbase if they went public (they're not, right?).
ok then lets say your american.. so your saying Mpesa is useless because nothing in america is priced in mpesa and there is no reason anyone should spend mpesa purely because its useless in on part of the world where you are.
im guessing that the Fijian dollar is useless because its only used by 1 million people. and not recognised internationally/mainstream
