My understanding is that ether cannot be used that way, like other cryptocurrencies. is that correct?
asked May 26, 2016 at 9:36
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I don't see a problem with that, as long as the retailers have accounts with the ehtereum network– Abhiram mishraMay 26, 2016 at 9:40
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4 Answers
Ether can be used for payments just like any other cryptocurrency. In fact, I can't think of a way that you could build a cryptocurrency that can't be used to pay for things!
What you've probably heard is that ether is "Crypto-fuel" and not intended to be used for payments. Depending on who you ask, this is accurate - the main intended purpose of Ether is to pay for computation on the network, and many people expect that one or more token-based currencies implemented as an Ethereum contract will arise as the main methods of payment in the Ethereum ecosystem.
answered May 26, 2016 at 9:39
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Thanks, however isn't it stupid? I mean using other tokens on the ethereum ecosystem? You are basically using a nested system just because U like it more. Isn't it more convenient to remove a layer and just use Ether? May 26, 2016 at 14:06
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1@SilverCookies Not at all; token-based currencies can offer other features, like stablecoins, or trading of other cryptocurrencies like Bitcoin off-chain. May 26, 2016 at 14:23
As soon as something is valuable because some people needs it, it can be a trading vector. Money is a trading vector. Ethereum fuel, known as Ether is useful to many people. It's also secure and trackable. You could use sea shells as money but controlling the global supply is important and shells are not as trackable and convenient than regular money and crypto money. The fact that Ether could also be used as fuel for the Ethereum network does not remove it's ability to be a money like Bitcoin as soon as someone need it, it makes it valuable.
answered May 26, 2016 at 12:43
Maybe this is an option: You can exchange your ether with Shapeshift to another cryptocurrency.
Can Laser inscribed Certified Diamonds be an option? Each one is one of a kind with a etched number and corresponding GIA certificate. Why cant the miners get paid with Gems. Like real ones.
