Yeah I said nobody but I was exaggerating to make a point.
This stuff about the amazingly slow banking system doesn't strike me as being a massive deal outside of the financial industry.
I deal with very high valued contracts at work and the industry I deal with regularly accepts contracts that with payment scheduled 30 days after services or goods are delivered.
I highly doubt anyone ia being paid in bitcoin. How do you agree an hourly rate or even a price for contract delivery in even the relatively short term when the value is so volatile?
I also deal with contracting in foreign currency and that can be a nightmare to work out even between two relatively stable currencies.
This is what I mean about bitcoin not really being a feasible currency. Even here you are talking about it as a tool for international exchange rather than it being used as traditional currency.
Nobody is taking or providing loans in bitcoin are they? How do you manage the long term risk of the volatility?
It is useless as a currency.
Again, im talking about crypto products. There seems to be some confusion about the difference with that and bitcoin.
You can doubt that "anyone is paid in bitcoin"...but they are. They are also paid in other coins...ive come across alot of companies in the space doing this..
Just on your 30 day payment...you know that if that example was used for say a Japanese company who agreed to pay a Norwegian entity upon receipt of Salmon...say every month then theres currency risk right?
Thats why theres alot of tech centred around corporate FX for hedging purposes.
If you hedge say USD/JPY in FX and in crypto then perhaps you could tell me what the difference is apart from a conversion?
