Does anybody actually use bitcoin? And by use I mean transact actual business, and not just speculate. You know, buying and selling real world goods and services.
Or is it like gold reserves, people just hoard these digital numbers until they are ready to cash out.
I'm really curious for the hoarders, if they're doing it as a hedge against global financial collapse, how exactly do they expect to redeem their bitcoin for anything tangible?
These are serious questions, I've given bitcoin only a minimum of thought. It seems a great way to move value out of a closed economy like China, or for drug dealers to move cash across borders, but who else uses it?
Or is it like gold reserves, people just hoard these digital numbers until they are ready to cash out.
I'm really curious for the hoarders, if they're doing it as a hedge against global financial collapse, how exactly do they expect to redeem their bitcoin for anything tangible?
These are serious questions, I've given bitcoin only a minimum of thought. It seems a great way to move value out of a closed economy like China, or for drug dealers to move cash across borders, but who else uses it?