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Yes, they sell you in bitcoins at a spot value to dollar, or so. Technically, you are using the dollars to pay using the BTC as an intermediate "currency". On t
by nucatus 9y ago
Yes, they sell you in bitcoins at a spot value to dollar, or so. Technically, you are using the dollars to pay using the BTC as an intermediate "currency". On top of that, you are paying some extra money to cover the exchange rate risk, which is quite high for BTC.
It is exactly like paying goods and services with, let's say, Apple stocks, only that the price will always fluctuate depending on the DOLLAR quotation of the Apple stock at the time of the payment.
- tudorconstantin 9y agoYeah, but these dollars don't have to pass through your bank account anymore, so you're pretty safe with not paying taxes on them.