You can do all of these things already.
In Europe at least. I have a TenX debit card that I can use everywhere VISA is accepted!
Bought iphone and car with it
But I don't have to go through coinbase or whatever in order to buy it.
I can hold Bitcoin, and if I feel like I want to buy something I can do so.
If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate.
You're holding BTC, then selling to get dollars and buying in dollars, effectively.
> If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate.
Yes, and here you're holding Euros and selling them to buy dollars to buy items.
Similarly, if you were mostly doing business in the US, picking a different fiat currency to hold your money in would be a risk and that risk would increase the more volatile the exchange rate is.
The key point here is that until the prices you're paying are stable values in BTC, there's significant risk in holding a currency different to what your contracts are in. If I have $10,000 dollars and have a contract that requires me to pay out $5,000 dollars next year I know I have enough. If I have 0.5 BTC and the same contract then I do not know if I have enough.
What he is saying is you can hold BTC and then when you spend it, the BTC gets converted to fiat at the time you spend it. In other words, you can save in BTC instead of immediately converting to fiat. This allows you to take advantage of BTC's deflationary attributes.
