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Personal Finance and Investing

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(55,167 posts)

4. It's just another currency. Why exchange dollars for euro or pesos?

Reply to doc03 (Original post)

Fri Jan 22, 2021, 08:38 PM

Jan 2021

You exchange dollars for euro or pesos if you want to buy something from someone who prefers to be paid in that other currency.

So you exchange dollars for bitcoin if you want to buy something from someone who prefers being paid in bitcoin.

That could be a merchant who wants to avoid high credit/debit card merchant fees, or it could be someone who wants a bit more privacy.

Or it could be simple currency speculation.

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I have seen Bitcoin ATM machines lately. Can someone explain why I would [View all] doc03 Jan 2021 OP

seperate you from your actual money? nt msongs Jan 2021 #1

What I am seeing is another bubble like the 2000 .com bubble and the 2008 derivatives doc03 Jan 2021 #2

A nice convenient way to rid yourself of your money. 5X Jan 2021 #3

It's just another currency. Why exchange dollars for euro or pesos? unblock Jan 2021 #4

More privacy like money laundering and tax evasion? nt doc03 Jan 2021 #5

Possibly, but I think people make too much of that. unblock Jan 2021 #6

For many BTC is not used for transactions masmdu Jan 2021 #7

Apparently nobody is worrying about the enormous amount of electricity progree Jan 2021 #8

Not true with ADA as it is proof of "stake" masmdu Jan 2021 #9

I've seen videos of respectable older and prominent investors bucolic_frolic Jan 2021 #10

To get around sanctions, Iran embraced Bitcoin. Now with polluted skies and grid failures, progree Jan 2021 #11