Yesterday the world's wayward richest man,Elon Musk, said Tesla would accept bitcoin as payment. The market rebounded, though much less strongly than the last time he bought bitcoin. I think Musk's acceptance of Bitcoin as a payment currency is a bit more of a show off. You know, he's always been a showman, and in this day and age, showmen are more likely to be noticed.
But what is Bitcoin? If it's digital gold, how many people are willing to use gold to buy goods?
If it's a currency, with that volatility, how many people would accept bitcoin for payment?
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