> The criticism that merchants will not accept Bitcoin
> because of its volatility is also incorrect. Bitcoin can be
> used entirely as a payment system; merchants do not need to
> hold any Bitcoin currency or be exposed to Bitcoin
> volatility at any time. Any consumer or merchant can trade
> in and out of Bitcoin and other currencies
> any time they want.
I'm having trouble understanding this point of view because it implies that someone, somewhere is always willing to buy in to BTC, no matter the circumstances. So, two questions:
1. Is BTC somehow immune to currency crises like many government-backed currencies have experienced?
2. If BTC is not immune to crises, have any parties emerged that will act to "defend" BTC in a crisis?
1. Is BTC somehow immune to currency crises like many government-backed currencies have experienced? 2. If BTC is not immune to crises, have any parties emerged that will act to "defend" BTC in a crisis?