"In general, currencies must be convertible to other currencies to be widely acc... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		betterunix on March 19, 2013 \| parent \| context \| favorite \| on: US Treasury Guidance on Virtual Currencies (aka Bi... "In general, currencies must be convertible to other currencies to be widely accepted" That is not really true. The Soviet Ruble was very hard to convert to other currencies, yet it was widely accepted within the USSR.

aneth4 on March 20, 2013 [–]

Yes, within the USSR. That's equivalent to Bitcoin being "widely accepted" among merchants who accept Bitcoin.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact