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View Diary: Bitcoin - it's like exchanging Turkish Lira, without the glamour. Or security. (163 comments)

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  •  You misunderstand what I'm saying. (1+ / 0-)
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    You wouldn't pay your employees entirely in local currency.  Your base pay would continue to be in USD, and you would ALWAYS be able to convert the local scrip into USD at a minimal discount with the city.  But as long as you're merely passing it around town, no discount applies.

    So instead of getting paid $8/hr, you'd get $8/hr USD, plus maybe 0.50/hr local scrip. And as long as you spend it locally, it's 1:1 exchange with USD in local shops.  Want to avoid losing even the few percent of difference from trading it directly for USD if you're wanting to spend it elsewhere?  Trade it with some neighbour or friend who spends more of their money locally.

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