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jiggy2011

I wonder if you set a price amount in bitcoin or it just does a conversion between BTC and USD (or some other currency).

If you set a price in BTC then if there is a drop in value, you might find wake up the next day and find that lots of people took advantage of that as a way to dump their BTC and managed to buy your $10 game for $1.

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usually you can pick but most people pin their btc prices to their own local currency for convenience.

This is interesting because I think this is the biggest vulnerability for bitcoin. So far as people continue to peg bitcoin to their own currency, it will continue to be thought of as a speculative opportunity and will face insurmountable deflationary pressure.

Bitcoin needs to hit a tipping point in the density of merchants offering bitcoin transactions, such that the general population can free themselves of thinking of bitcoin as it relates to USD or EUR, and instead how the price of a good or service in bitcoin relates to other goods and services they can consume with bitcoin.

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