Actually, Bitcoin is quite useful to a Ukrainain. Russia can invade, kick you out of your house, take your property (including your gold), but your Bitcoin rests securely on the blockchain, waiting for saner times to prevail.mathjak107 wrote: ↑Tue Oct 11, 2022 3:25 pm Bitcoin won’t do you much good when you have no electricity like most of the Ukraine
You can even take it to your grave with you, as Satoshi probably did/will.
One interesting difference between payment in gold/cash and payment in Bitcoin, is that with Bitcoin you also get a receipt. When you are transacting w/ someone you don't know, possibly w/ an escrow service or some other arbiter involved, you want some proof that you paid the other party. Money orders and Bitcoin provide this.Pointedstick wrote: ↑Tue Oct 11, 2022 5:02 pm Has anyone here actually purchased anything with gold directly, or accepted payment in gold for delivery of goods or services? I can say that I have not.
I have on the other hand participated in money-like transactions using cryptocurrencies before, in which they were exchanged for goods or services. Cryprocurrencies may generally be bad and unstable forms of money, but they do seem to be some form of money. Gold I'm not sure about though. It feels more like a commodity one exchanges for money than money itself.
I recently needed to pay for something like this, and I had a choice of paying by money order or Bitcoin. I generally try not to spend my Bitcoin (Gresham's Law), but I was feeling lazy and didn't want to go to the post office, so I paid in Bitcoin.