Quote:
Originally Posted by afc wimbledon
Thanks, same basic principle though, you wouldnt dare put a large sum of money in a holding account if you couldnt be sure that in a few months roughly the same amount of money was still there, its why people in the third world were their own countries currancy is wildly unstable use the US dollar, because its value is very stable
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What can BTC do better than CAD?
Help people in the undeveloped and developing world.
If you hire someone from such a country its not easy to get them paid and there's a chance their nations banking system is less than perfect. This is very common. You said that yourself.
That person might not have bothered undertaking everything it took to get that contract if they have little to no faith in getting paid.
Edit:
https://www.reuters.com/article/cryp...-idUSL4N2FR31Q
"Four months ago, Abolaji Odunjo made a fundamental change to his business selling mobile phones in a bustling street market in Lagos: He started paying his suppliers in bitcoin.
Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed and convenience.
The shift has boosted his profits, as he no longer has to buy dollars using the Nigerian naira or shell out fees to money-transfer firms. It is also one example of how, in Africa, bitcoin - the original and biggest cryptocurrency - is finding the practical use that it has largely failed to elsewhere.
"Bitcoin helped to protect my business against the currency devaluation, and enabled me to grow at the same time," Odunjo told Reuters from his two-by-eight metre shop."
But its all just for guns, drugs and hookers apparently.