accept bitcoin payments
accept bitcoin payments
Out of context: Reply #9
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Can someone explain to me how a business can accept bitcoin?
I remain confused...if Starbucks sells you 500 coffees ($2/ea) for one bitcoin, but then bitcoin plummets to $500, then they lock in a loss. OR do they simply convert to USD immediately? Must be the latter, which, I guess makes sense, otherwise they would be risking the loss, which would not make any business sense.
- How do 'normal' currencies work when devalued?detritus
- Speculation and faith? A month ago that same bitcoin would have only bought 100 of the same coffeesZOOP
- Normal currencies don't fluctuate in any significant manner. They are "stable", more or less.formed
- no, normal currency is converted at the time of the transaction at the current exchange rate.sine
- exchange rates aren't stable at all. fluctuation is a massive part of daily global business.sine