I don’t know what you’re saying. If I charge a particular amount for a loaf of bread and then the price drops halfway through the day then that person still has the bread but I now don’t have the money.
The whole point of currency is to get away from the fluctuating value of exchange that everyone had to deal with when we used to buy things with gold and semi-precious stones.
sugar_in_your_tea@sh.itjust.works 3 weeks ago
Vendors can immediately sell upon receipt. And prices rarely change that much in a day, usually it’s a few percent, especially for the currencies targeted at actually being currencies instead of scams.
MajesticElevator@lemmy.zip 3 weeks ago
This ^
Most vendors do frequently sell or convert to stablecoins to avoid this problem, and in times of uncertainty, they often charge more to cover the eventual losses
Honytawk@feddit.nl 3 weeks ago
What is the point of using them if you are expected to switch them to an actual real fiat just to keep your value?
MajesticElevator@lemmy.zip 3 weeks ago
Well, you said it: using crypto.
I believe you don’t hold massive stacks of cash under your bed, though you might occasionally withdraw cash.
I also believe you don’t keep all your money on your normal bank account. You invest some, as investing is better in some situations.
Well, for crypto it’s the same. Sometimes it’s better to pay in crypto, like in situations where you don’t want to be tracked because you’re privacy concious, or maybe because you don’t trust or hate banks, or because you like the technology and want to see it develop, or because of international payment/transfer fees, or because your economy is overinflated (like in poorer countries)…