[Chugalug] More on Bitcoin:

John Aldrich jmaldrich at yahoo.com
Thu Aug 22 20:53:05 UTC 2013


Quoting Stephen Kraus <ub3ratl4sf00 at gmail.com>:

> Its funny that, Aaron a good comparison.
>
> Because if I sell something on Ebay, I set a price in USD.
>
> And if paypal doesn't give my bank my USD, I get cross
>
Yes, that's true, Stephen... but if someone in, say, Germany, wants to  
buy what you're selling, they will pay you via PayPal in DeutschMarks,  
which Paypal will CONVERT to $USD. Or if you want to buy something for  
your VW from someone in Germa ny, they are likely selling in DM, and  
you will pay in $USD, but THEY will receive DM from PayPal. Similarly,  
in theory, PayPal could start accepting Bitcoins and then convert them  
to $USD or whatever currency, or just bank them like you do with your  
local currency.


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