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re: Could this push us to Crypto
Posted on 3/23/20 at 8:38 pm to AMS
Posted on 3/23/20 at 8:38 pm to AMS
quote:
Some of the more notable companies that accept it as payment are Microsoft, Newegg, AT&T, overstock, Twitch, and expedia. I think its mostly Tech, online media, online gambling, and Travel type goods and services at this point. There are indirect ways to use it for Amazon purchases.
They accept crypto at USD exchange rate, a somewhat huge distinction.
In fact it is such a large one that it means crypto is not actually a currency but a commodity that is bartered.
1
Posted on 3/23/20 at 9:24 pm to cave canem
quote:
They accept crypto at USD exchange rate, a somewhat huge distinction.
In fact it is such a large one that it means crypto is not actually a currency but a commodity that is bartered.
Does this mean if a US company were to accept foreign currency Equivalent to x price in USD for a certain good, that currency a commodity that is being bartered? Say Yen or some highly volatile currency was being used would they not accept what was equivalent to x $USD?
Or is it just that the massive fluctuations of BTC make it less reliable? Say BTC stabilized around a given price would you consider it currency?
Along the lines of definitions of currency and commodity, it seems to me crypto potentially fits the definition of currency, though volatility makes it ‘behave’ more like a commodity. Granted the government has a legal opinion for taxing purposes. I’m just curious if I’m missing something (swap out crypto for some random volatile currency)?
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