On Monday, 23 November 2015 at 12:11:36 UTC, Steven Schveighoffer wrote:
One could ask the same thing about any currency that isn't the one accepted at a store.

I looked with a tinge of fascination at what bitcoin was a while ago. I think there is a natural averse reaction to something that is valuable but that you cannot understand.


Don't be confused. Krugman do not understand bitcoin, but Krugman think that terrorism and riots are good, that the internet will never work and that there was no bubble in 2008, so I think is it fairly secure to ignore him.

Many other economist have model that explain bitcoin's value.

I know bitcoin has real math and genius behind it, and this is a silly example, but for those who do not understand how it actually works (including myself), it seems very similar in nature. Dollars (or whatever local currency you use) are understandable, and generally accepted at places where I shop. It's easy to see how one cannot duplicate them without evidence of doing so (the fundamental characteristic of currency). Online bits don't seem so uncopyable.

-Steve

Most people to not understand fractional reserve, bond emission, or how credit card works. I think that's ok.

Back to the point, one of the value of bitcoin is to be able to transfer money internationally easily and for cheap. People that do have USD to spend on digital mars do not care. People abroad do care.

Now I don't expect that accepting bitcoin will create a giant wave of donation, but, if anything, it is always good PR and not complicated. There is also no reason to refuse a donation or to make it more complex to do a donation.

Andrei, Walter, if you need help to navigate the bitcoin ecosystem, you can reach me, I can help.

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