Can you live for a week on Bitcoin only?
CNBC journalist Seema Mody did her research on whether you can live for a week in New York on Bitcoin only.
"It's still really hard to use bitcoin as a regular currency
- It was very difficult to make typical daily transactions necessary to survive using only bitcoin in New York City for a week.
- Not many retailers and restaurants accept bitcoin directly still.
- If they do, additional fees make it more expensive than using dollars".
For how long can you live on Bitcoin only in your country/city?
I think you pointed out the biggest challenge of Bitcoin and cryptocurrency in general. They have to invite themselves in our daily life. It's the only way to keep growing in my opinion
That's true. Bitcoin does seem like a financial instrument to preserve value, rather than a means for daily expenses. I do believe Bitcoin and Litecoin go hand in hand here as LTC is much better for daily use.
When and if bitshares munich/ blockpay can make retailers in europe to use bitEur, things will change alot. With the volatility of bitcoin, accepting bitcoin is a risk for the retailer.
I have never thought about this point. But, it's totally true and for a general adoption of the bicoin the community should think about something to make it less volatile
i think if you are in a major city...like...new york... or maybe london, i think its perfectly possible