Quote:
Originally Posted by Nathan
If the value of a coin would not move up and down 50% each friggin day, that might actually work. But how much should a non recurring one month membership paid by bitcoins cost? 1 BTC? 0.5 BTC? What if in 3 months a BTC is worth $10, should the price change? should we change it based on current MtGox rate and just mirror our normal prices?
There is no reference of how much a BTC is ACTUALLY WORTH in goods. This is the problem here. There just is a reference how much a BTC is worth trading to USD. What good does that do us?!
|
SilkRoad converts the current MTGox USD exchange rate into the bitcoin price. So the customer would still pay the same amount of USD whether bitcoin is at $70 or $150. You would then want to exchange it for USD ASAP to keep from losing money if the price of BTC goes down.
The price of bitcoin will eventually settle down.