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@JorgeStolfi @prestontumber @rvkennedy @immibis @funcrunch @kcoyle
But also because the value of BTC is - deliberately - extremely volatile. Any fixed-supply token is *necessarily* volatile, assuming variable demand. When demand goes up, so does the value, and when demand decreases, value goes down. This is why cryptos are all but useless as media of exchange and stores of value (hence the "pizza day" observance).
@JorgeStolfi @prestontumber @rvkennedy @immibis @funcrunch @kcoyle
A city that needs to settle its own liabilities in dollars, and which accepts cryptos for tax liabilities, can end up with far less than it budgeted for if those tokens fall.
By contrast, a taxpayer who settles city tax in crypto could end up vastly *overpaying* their tax.
There is not - and will never be - an economy that runs on cryptos.