As we know crypto price fluctuates rapidly, can it be used to buy a product?
For instance, you select a product to buy online which will cost you $50. As soon as you pay bitcoin worth of $50, the price of bitcoin drops before its confirmation. What will happen? Similarly, I pay my electric bill using bitcoin and price goes down before the payment reaches company’s wallet.
There is only one solution that seller would have to convert bitcoin into fiat instantly to receive their actual value. Similarly, Electricity Company would have to same thing as soon as the payment reaches their wallet.
Even though the price of crypto fluctuates rapidly, the use of crypto is necessary to grow its value. This is not my word. Today I read a CCN article https://www.ccn.com/no-investment-strategies-are-worse-than-cryptocurrencies-professor-of-finance/ and found a heading “Crypto Is Worthless Unless it’s used” said by Drew Farnsworth who is a partner at Green Lane Design data center design and consulting. He is right. The use of Cryptocurrency is necessary to keep its price grow. What do you think?
