Quote:
Originally Posted by epitome
At what point, if ever, does bitcoin become currency?
Or is it more of a way to track bartering? Would someone pay a designer in 500 bitcoin who would turn around and give it to their host to cover their monthly cost and so-on?
I take it there is no way to cash out for government currency? Or is there?
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there are exchanges to cash out bitcoins into real currency but after the biggest exchange (90% of all the transactions) got hacked last week and their database of passwords dumped online they are shut down for now, as is the second biggest exchange.
but with valuations of bitcoins oscillating so wildly - from 0 to 30 now down to 0 today - i can't see how you effectively price anything in bt until the price stabilizes somewhat, which wont happen for a very very long time.