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RE: How to turn STEEM in to CASH - a beginners guide by beginners (no experience necessary)
Just like when Europe switched to the Euro. It took years before that currency prevailed. There will alwaye be an overlap during an economic transition. Have you paid your rent or carnote with bitcoin? How about grocery shopping? There is a logic to employ until cryptocurrency overtakes fiat.
Fair to say that as yet. I haven't personally paid for anything with Bitcoin but that's because I'm holding them. More outlets are taking it for payment here. Bitcoins are being used in a number of shops and are quite common on the high street. Starbucks etc take Bitcoins.
The reason that Bitcoin is being used more often, is because there are no transaction fees, or if there are they are a fraction of a penny.
People using credit or debit cards are charged every time they use them or more often the business is. Some business will not accept credit or credit cards now unless the purchase is over a certain level.
Still doesn't change the fact that bitcoin isnt the dominant currency and won't be for some time. It took almost 30 years before credit cards were widely accepted. Its one thing to believe in crypto, its another to blindly ignore historical economics.
That is true on both counts. I'm actually quite sceptical about cryptocurrencies and often see people freaking out about when they crash. All markets rise and fall. That's the nature of a market. But I'd rather have some than not just on the off chance that they do become accepted more widely. When I got my Bitcoins they cost £3 ($3.75) and at that price people thought they were wildly expensive.
Im jealous. I didnt believe in it. I missed that train. But imearning now and hoping to catch the tail end
It still fluctuates quite wildly some days but always returns to that upward track. It's one to keep an eye on and if it drops a couple 100 bucks?
You're in the right place to make up for missing the last boat. Steemit is pretty amazing and who knows where it could go?
Good luck and it was a great post.
For the record, my business accepts bitcoin.
Kaching! there you go. Once one coin is accepted, it won't be long before the other are. Exchanges exist already and I can see in the very near future, an app that converts whatever coins you have will be able to be used on the fly.
I'm glad you met my friend @xtrodinarypilot. He is a good guy. He is from Texas but you cant hold that against him LOL!!! Yeah @molometer is my YouTube friend from England that FINALLY joined up! You guys should definitely follow each other!!! After all like his banner says, @xtrodinarypilot will take you places, but mainly in Texas lol.
We had a good chat about cryptocurrency and bank charges. It was very interesting and enlightening. I'll give him a follow too.
I never knew you were early on the Bitcoin train! Well done!!!
old the old guys have the wisdom i don't
Yep I sure was. It's quite a story and gives me an idea for a blog tomorrow. Time to sleep now. Goodnight all. See you bright and early lol
meep