Someone who would consider being paid in Zimbabwean Dollars isn't going to be able to afford anticipated Bitcoin commission fees. Bitcoin will introduce commission fees because the cost of validating transactions correlates with its ever-growing blockchain length. Customers with small deposits run the risk of their hard-earned salary becoming locked in the blockchain when it becomes uneconomical with withdraw or transfer their small funds. The amount of electricity needed for mining already costs more than the reward, so the pricing structure has to change.
There are better alternatives to Bitcoin when trying to avoid volatile-currencies, such as being paid in cellphone credits (a popular choice in sub-saharan Africa).
My view is that all markets are a bubble, and its safest to exit before the underlying asset reaches its middle years. Oil and Bitcoin are well into their middle years. When speculators think its about to die, it dies fast - bubbles could burst ten years away or tomorrow - how many of us would short it at the right moment? Same applies to USD & EUR but I feel these currencies will probably run for a few more centuries so I feel safest in those markets.
Last edited by London Trader; August 21st, 2015 at 05:25 AM.
I think it appeals to organisations that seek to profit from moving cash between regulated and unregulated markets. For example, its very difficult to freeze the funds if they are being cashed out in a region that does not respect Interpol/FBI/etc.
If you're providing liquidity to the Bitcoin market then you might be supporting industries with very questionable ethics. Just my opinion.
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Last edited by London Trader; September 3rd, 2015 at 04:20 PM.