07-04 05:03 - 'You are correct --- if you hold bitcoin, you are exposing yourself to exchange rate fluctuations. This is the same as if you held stock in Apple, Inc / Except there are no coffee shops that accept a fraction of a share of...' by /u/cointastical removed from /r/Bitcoin within 40-50min

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You are correct --- if you hold bitcoin, you are exposing yourself to exchange rate fluctuations. This is the same as if you held stock in Apple, Inc

Except there are no coffee shops that accept a fraction of a share of Apple as payment, right?

But if you happen to hold Apple shares as your only investment, and then ran out of dollars/cash, ... you would need to sell some fraction of your Apple stock in order to get dollars to buy your coffee. Wouldn't it just be easier if there was an easy way to spend a fraction of your Apple stock for coffee then, in that instance?

If that were possible, does that mean people would go out and buy Apple stock so that they can pay for their coffee with it? No, if they have dollars, they would continue to use dollars to buy their coffee, and that's OK.

Now, ... let's say you were to get paid in Apple stock. This might be because you are a freelancer, and that's just the payment method that your client prefers to use when paying vendors. Who knows why,... let's just go with that, for conversation's sake.

So if you get paid in Apple stock, and then you can make your purchases using Apple stock, you are likely to keep most or all of your income in Apple stock until you spend it. Especially if you think Apple stock is a good investment.

Now some people are more sensitive to exchange rate fluctuations than others. For them, ... they don't want to lose money if Apple stock goes down in value, so they may want to convert their Apple stock into the dollar (which is known to be more stable) right after receiving the Apple shares as income. They can still, at a later time, convert some of those dollars back into Apple shares for buying coffee, ... but there's no real reason to do that.

So you are essentially correct. People will not use bitcoin for spending on things like coffee, except for those who earn in bitcoin and those who invest in bitcoin.

Well, who earns in Bitcoin today? That would be those who might:

• earn interest from [decentralized lending]¹
• [freelance where the gig pays using bitcoin]²
• freelance on a traditional freelancing site but [get paid in bitcoin thanks to BitWage]³
• sell goods and services and get paid [using a bitcoin merchant processor]⁴
• [work for a bitcoin company]⁵ that pays in bitcoin
• work for a company that earns some of their revenue in bitcoin, and then prefers to pay vendors and employees from those bitcoin proceeds
• be employed by a decentralized autonomous organization (DAO), which can only pay out in crypto, as it doesn't touch fiat and has no bank accounts
• [do microtrasks]⁶ for bitcoin
• be a content creator who earns bitcoin using a [bitcoin-based Patreon-like service]⁷ or [earns bitcoin with each view on their youtube channel, or web site]⁸
• [fix software and earn a bounty]⁹
• get [bitcoin back for fiat purchases]¹⁰
• operate a mining operation, [tiny]¹¹ or [large]¹²
• [sell online using bitcoin]¹³
• earn gains or dividends from stocks or ETFs bought on an American stock exchange through [Abra]¹⁴
• buy and sell bitcoin on a [P2P Trading exchange]¹⁵
• collect rent from [tenants who pay in bitcoin]¹⁶
• earn profit from operating [bitcoin ATMs]¹⁷
• earn from operating a bitcoin over-the-counter [OTC Trading desk]¹⁸
• provide legal services such as [arbitration]¹⁹ or escrow
• withdraw after gambling on [online poker]²⁰ , [sporting events]²¹ , [games of chance]²² , etc.
• earn from a "cam site"

- be awarded a prepaid gift card at work but can't use it so you use it to buy bitcoin

• raised money through [crowdfunding]²³
• etc. (things are just getting started ....)

'''

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Author: /u/cointastical

1: lo*nscan*i*
2: med****com/@cointast*cal/**eelanc*n*-platforms-wh*ch*pay-i*-*i***in-**8b*56*66df
3: blog.bitwag**co*/2*1**02/*3/*et-p*id-fro**upwork-toptal-and*******her-f*eela*ce-marke*plac**wit***itwage
4: *it*ub.com*alexk11*/a**s*me*bit*oin**ay**nt-proces*ors
5: www.*r**t**ca*eers.com
6: microl*n***.io
7: b*tpatro*.c*
8: *u*l*shers*basi*atten*ionto*en*org
9: gi*c*in**o/pro*ucts
10: www.lo*l*.*om
11: h*ney*i*er*com
12: cr*pt*mining.**ol*/compar*-minin*-ha*d**re
13: ope*b*zaar.**m
14: www.a*ra*com/p*oduc*-*uid**abra-*to**-an*-e**-i*vesting
15: m*di*m.c*m/@coi**as*ical/p*p-ot*-*xch*nges***g-l*calbitco*ns-bisq-h**l**dl-e*c*2*f2*3a2c72e
16: www.t*eguardia*.com/****y/2017/se*/04/london**e*tal*tena*ts-*eposi***bit*o*n-colle**ive*r*n*
17: coin*tmr*dar.com/*h*p/buy-**t*oi**atm
18: m*d*um.c*m/@c*****stica**bi*co*n-cr*p*o-otc-tra*in*-desks-7f7*276c6dc
19: twi*t*r*com/O***om*an*/s**tus/11447*60586831*9009
20: *ww*be**nl*ne.*g/poker
21: nitrogen**o**s.eu
22: www.*igh*ning*pi*.co*
23: ta*lyco*in

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