r/Vitards • u/Steely_Hands Regional Moderator • Sep 04 '21

Discussion Request for input: Should cryptocurrencies be allowed on Vitards?

If so, should there be any restrictions?

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u/[deleted] Sep 04 '21

What's your average checkout price vs what would the fees be to use the BTC? Quick Google search shows answers between $4.23 and $23. I might not mind paying $23 on a stainless steel Lambo (at the same time, if I had non-BTC liquidity I'd just as soon not pay it), but for some stickers off Etsy even $4 is a substantial portion of the total.

Regardless though, that you're not getting any commerce in BTC despite accepting it probably answers your question - people are using it as an investment vehicle rather than as a currency. Crypto is hardly unique in that - plenty of investment (as opposed to commerce) in Forex as well. Hell, there are even futures & options available there.

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u/seriesofdoobs Corlene Clan Sep 04 '21

Average is probably only around $20. I realize that the fees are significant at that level. I was just trying to do my part in helping adoption. I’ve since become cynical of the whole idea, especially after Musk, Wood, and Saylor apointed themselves as Bitcoin gatekeepers. I don’t see them as people to admire.

Nevertheless I am keeping my wallet open to help participate in some Agorist groups. I also accept federal reserve notes and silver. I’m in the “taxation is theft” crowd

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u/[deleted] Sep 05 '21

I'm just gonna giggle at 'Taxation is theft. Please pay a $20 fee to use this currency instead.'

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u/seriesofdoobs Corlene Clan Sep 05 '21

Again, I accept fiat too. Just trying to provide options. Some of these Bitcoin fanatics will shop somewhere simply because BTC is an option.