The real thing to understand is that bitcoin would never replace fiats.
Why? There is a possibility, albeit a small one.
Topic: Why people price things in fiat but want BTC - choose one or the other - page 2. (Read 4911 times)
August 28, 2014, 05:57:50 PM
Why? There is a possibility, albeit a small one.
August 28, 2014, 02:13:48 PM
This is no one or the other matter,People are being speculative here regarding bitcoin considering it as a currency.The real thing to understand is that bitcoin would never replace fiats.
August 28, 2014, 10:13:41 AM
Most people don't have a sense of value when things are priced in bitcoin. In order to show a shop is cheaper, they need to quote in fiat so consumers can compare prices without conversion.
I think most people who are involved in Bitcoin can tell the price difference between bitcoin and fiat? I know I can it isn't that hard...
August 28, 2014, 09:41:36 AM
Most people don't have a sense of value when things are priced in bitcoin. In order to show a shop is cheaper, they need to quote in fiat so consumers can compare prices without conversion.
I think most people who are involved in Bitcoin can tell the price difference between bitcoin and fiat? I know I can it isn't that hard...
August 28, 2014, 03:58:32 AM
Most people don't have a sense of value when things are priced in bitcoin. In order to show a shop is cheaper, they need to quote in fiat so consumers can compare prices without conversion.
August 28, 2014, 03:38:03 AM
You don't understand. Bitcoin isn't strictly a currency, it's also a payment system ...and much more.
August 28, 2014, 03:05:27 AM
The beauty of Bitcoin is that it is universal. So while we can compare it to USD for value, it can be converted to any countries dollar. This is what gives it such tremendous value.
August 28, 2014, 02:18:35 AM
Because the price in fiat is easier to relate to for most people I think
August 28, 2014, 01:58:47 AM
Bitcoin is quite volatile. The fiat exchange rate is the easiest way for all of us to gauge current demand for bitcoin.
If Bitcoin were evenly distributed between everybody on the planet there would be 0.003 bitcoin per person. From there you could start figuring out how much a house is worth or a cup of coffee.
If Bitcoin were evenly distributed between everybody on the planet there would be 0.003 bitcoin per person. From there you could start figuring out how much a house is worth or a cup of coffee.
August 27, 2014, 09:13:46 PM
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.
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.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.
I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.
August 26, 2014, 06:15:02 PM
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.
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.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.
I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.
August 26, 2014, 02:33:25 PM
They became used to fiat so it's hard to leave out that part
August 26, 2014, 02:26:06 PM
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.
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.
So for instance, this laptop costs 1 BTC, equal to xxxUSD at time of writing, not the other way arround.
I'm really iritated by the fact that coindesk writes articles about companies and merchants accepting bitcoins and selling an item X for xxxUSD in bitcoin equivalent.
They should write it the other way arround. Only the fact that I don't have anything to do with USD and live in a EUR area.
August 26, 2014, 02:19:11 PM
Com'n bitcoin will never replace fiat moreover bitcoin is an asset just like Gold but it's virtual.This is a huge misconception that bitcoin will replace fiat.That is never gonna happen
Ask steam engine operators what they thought about the first combustion engines.Ask the cavalry what they thought about heavy slow steel vehicles with canons mounted on top of it.
Ask tank drivers what they think about drones and stuff.
Oh wait, many western countries don't even have tanks anymore, they are becoming obsolete.
Ask yourself again.
August 26, 2014, 02:14:50 PM
Well me as an example, I am still in the process of collecting Bitcoins, but when I do get some I probably will sell them for fiat. I have loans I would like to pay off. I want to keep Bitcoins but also pay off my loans!
August 26, 2014, 01:51:11 PM
OP there is a simple answer to your question, that the people don't know where to spend btc but they know where to spend fiat.
August 26, 2014, 01:47:37 PM
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.
Why do people always say this? How much are most bank accounts? $8-$15 monthly? Are you spending that on fees.. Technically you're saving.
August 26, 2014, 01:16:21 PM
I try to price in BTC where possible...
Whether it helps to stabilise price or not I don't know or care. I do it because I value the BTC over the $
0.05 BTC for any 6 bottles delivered within UK. Worldwide shipping available at competitive rates.
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Whether it helps to stabilise price or not I don't know or care. I do it because I value the BTC over the $
August 26, 2014, 12:30:49 PM
People still look btc as a mode of investment rather than as a currency to be used to buy something online. Somewhat they are correct, because btc isn't accepted much..
August 26, 2014, 11:26:27 AM
It's a silly argument for many reasons. We need to tie the price to something so we can understand it better. It's no different than prices for different currencies at your local currency exchange where you go to get your holiday money.
You have said it all,the difference isn't there.
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