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RE: I Bought Cannabis With Bitcoin in Los Angeles! Looking For Restaurants Now!

in #bitcoin7 years ago

I really want to agree with you that business should accept bitcoin as payment. But first the transfer fees need to be reduced for this to be anywhere near possible. Second, and main reason why it is not now is the stability of the coin. The coin's price has drop nearly 60% since it's high in November. Companies are not will to take that risk for a currency that in the next 24 hours might not even cover the cost of the product. Just imagine if you bought cannabis 72 hours ago for $40 which was roughly .0043 bitcoin then 48 hours later that same amount of bitcoin is worth $25. While I hope bitcoin could be used more widely it doesn't seem reasonable in the near future till something changes.

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I see your point. Thanks for the insightful comment!

I would also recommend not upvoting your comments as you grow your account, just out of etiquette. Have a great one!

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