Atlantic Correspondents. By Andrew Sullivan. Weblog and Essays. Let's Clear Up One Confusion About Bitcoin November 3, 2017 If bitcoin can be converted into fiat currencies at a lower transaction cost than the fiat-to-fiat conversions made by banks and credit card companies, it's a superior means of exchange.
One of the most common comments I hear from bitcoin skeptics goes something like this:Bitcoin isn't real money until I can buy a cup of coffee with it.