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4 1 month ago
Practically speaking though, how does someone pay their everyday bills with Monero? That’s the conversation about Bitcoin that does fascinate me the most. Hal Finney seemed to think it would do just fine as a store of value and eventually leading to “Bitcoin banks,” which is probably likely. I think we are still in the store of value phase, but I am not sure what MoE or UoA m would even look like irl when/if it happens. We can’t seem to get away from fiat ways of thinking, at least I can’t.. it’s all we’ve ever known so I can’t wrap my head around Bitcoin repricing things irl with the $ attached to it. i.e. It’s difficult for me to understand “1 BTC = 1 BTC”

Replies (2)

I am not familiar with 'Monero'. For a digital currency to pay everyday bills, it requires widespread merchant adoption and easy conversion to local fiat. Bitcoin is designed for this; its utility growing with each new user and accepted transaction.
practically, its the same as Bitcoin ie you sell it for fiat and pay your bills with that. its just nobody can see where it came from, hence its superiority. 1BTC=1BTC only makes sense under a Bitcoin UoA. and its not true anyway since Bitcoin isn't fungible