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So I am a buyer and for saving a 3% for let's say a 2000usd watch sold at overstock.com I risk that in two months my btc could buy me two or three of the same watches? Or not that dramatic : that in a couple days my btc are worth a 4% less? So 1% loss. You see it makes no sense??Because you save 3% in credit card costs.
It is controlled inflation man, we are not talking about Zimbawe here. And you can easily counteract the inflation putting the money into very conservative stocks, or government bonds or whatever.Well, keeping the money as USD guarantees a loss through inflation. So everyone makes their choices...
Now the thing I can think of is for people in countries with no monetary stabilization, from Zimbawe to Argentina to Cuba and the like. But still... for the average joe... you still risk a massive price down of BTC or when youbwant to cash it back to any localncurrency you can expect taxes and stuff...
But you know what Cirion? If I was in a country like that and I wanted to save my money, I would rarher buy a diamond. If things go bad in your country you can put it up your ****, take a plane to London or Brusels, sell it to a jewish jeweler and get your money in a safe currency like EUR or GBP.Now that seems like a valid point. There are many countries like Zimbabwe, Venezuela that have OBSCENE inflation. Last I heard, doesn't a loaf of bread cost 1 trillion local currency in Zimbabwe?
If you tie yourself to one shop then why not use bitcoin at that? purse.io lets you trade bitcoin for amazon orders and you get 10-50% discount3% is really nothing anyway when you consider Rewards credit cards like my southwest airlines rewards card that lets me take 1 or 2 free round trip flights a year. Even if that 3% was consistent, that's at best equal to what I'm already getting or even inferior. I have an amazon store card that gives me 5% back, and I order a lot from amazon, so that's even better than bitcoin if the only selling point for bitcoin is a 3% value.
If you tie yourself to one shop then why not use bitcoin at that? purse.io lets you trade bitcoin for amazon orders and you get 10-50% discount
But you know what Cirion? If I was in a country like that and I wanted to save my money, I would rarher buy a diamond. If things go bad in your country you can put it up your ****, take a plane to London or Brusels, sell it to a jewish jeweler and get your money in a safe currency like EUR or GBP.
Now the thing I can think of is for people in countries with no monetary stabilization, from Zimbawe to Argentina to Cuba and the like. But still... for the average joe... you still risk a massive price down of BTC or when youbwant to cash it back to any localncurrency you can expect taxes and stuff...
We are going in circles here tanka? What part of tomorrow your BTC can be worth half its value you don't want to accept?You could do the same thing with Cryptos, and you wouldn't even have to potentially aggravate your GI tract with a foreign object.
We are going in circles here tanka? What part of tomorrow your BTC can be worth half its value you don't want to accept?
Diamonds :
I would risk my GI tract.
You get the idea man... no need to go to such fine details.Then put it in a Stable Coin like TUSD or USDC. Boom, still no problem with orafices.
By the way, if you are going to attach a chart talking about potential daily losses, you should not attach yearly chart to make your point.