Quote:
Originally Posted by Chris
What about a company selling a psychical product
Should we accept bitcoin just because its the trendy thing to do ?
What happens if bitcoin crashes again and loses 60% of the value? You know after we shipped the product...paid the affiliate ... employee's ...etc
Once bitcoin can stay stable within a 5% margin for atleast 6 months I think more adult companies will pick it up
What about webcam sites? Should they just say yup send us your bitcoins and then when bitcoin crashes again and loses value they are out of pocket to pay the models and webmasters?
You would need a separate system for cam models and webmaster who want to go in and take the risk with you.
What if a webcam company accepted bitcoin when it was at 244? They would of still not of been close to being recovered from the crash.
Todays low on bitcoin was 127 ... the high is now 152. That is still way too much movement to be taken as a serious alternative currency when it comes to running a business.
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If you use a processor like BitPay or OKPay you always get the amount you charge.
Let's say you charge $100 for your product.
When a customer buys something the amount of BTC they will pay is always the amount that matches the $100. So it could be 1 BTC one day, 5 BTC the other day, but it will always be $100.
And with systems like OKPay you can automatically convert the BTC to USD after every sale, so you have no risk of the exchange rate changing, because it has already been converted to USD in your wallet.
So as long as you use a processor that charges the equivalent of your charge in BTC at the current exchange rate and always convert the BTC to USD immediately after the sale the fluctuating exchange rate has hardly any influence.