Putting a price on Bitcoin
SCENE: A pet shop with a bored looking proprietor. A customer approaches
CUSTOMER: I’d like to buy a parrot.
OWNER: Certainly, sir. How about this one? It’s a Norwegian Blue. Beautiful plumage.
CUSTOMER: It’s not moving much
OWNER: It is tired and shagged out after a long squawk
CUSTOMER: Fair enough. How much is it?
OWNER: $20,000
CUSTOMER: I’ll pay with this bitcoin
OWNER: Sorry, sir. On WavesDEX, the bitcoin is only worth $13,500
CUSTOMER: But on LocalBitcoins, it is over $21,500! Look at the news headlines.
OWNER: Sorry, sir, but I can’t afford the risk. But my rent, heat and light are all payable in dollars.
CUSTOMER: But the dollar has ceased to be, it has shuffled off this mortal coil, it is an ex-currency
OWNER: So you say, sir. But at least it’s a reliable means of exchange. It doesn’t move much from minute to minute
CUSTOMER: Like this parrot
If ever Bitcoin were widely adopted as a trading currency, this scene would be played out in…
