[Chugalug] More on Bitcoin:

Stephen Kraus ub3ratl4sf00 at gmail.com
Thu Aug 22 21:04:27 UTC 2013


John...that is called the exchange rate. It really doesn't make bitcoins
any more legitimate as a REPLACEMENT for the USD or as even a strong
competitor.


On Thu, Aug 22, 2013 at 4:53 PM, John Aldrich <jmaldrich at yahoo.com> wrote:

> 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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