Bitcoin's value based on purchasing power
BTC purchasing power when converted to fiat would be quantified by the price of BTC in dollars. BTC purchasing power when purchasing goods directly with BTC would be independent from fiat. If the later is increasing, but my ability to spend BTC (no merchants in my area accepting on the map), then the purchasing power of my BTC is affectively zero. It seems to me that if you want to orange pill everyone into buying BTC there would be more focus on teaching people how to find places to spend BTC. Am I missing something or are there more than just a relatively few merchants (online or otherwise) that accept BTC? I can always sell for dollars and spend the dollars but that does nothing for me if I want to get a feel for the real purchasing power of BTC. Help me see this clearly. Thanks.
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from Bitcoin - The Currency of the Internet https://ift.tt/JMRTjW0
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