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PwC Hong Kong first Big Four firm to accept bitcoin
- seibelj 9y agoBut why would an accounting company accept fake internet bubble money that obviously has no value? /s
- fatjokes 9y agoI know you added a /s, but real answers could include: 1) they want to ride the bubble, and 2) they want to sell services to people who use the fake internet bubble money.
- Frogolocalypse 9y agoThe beer that i buy using my bitcoin debit card doesn't taste fake.
- thebigspacefuck 9y agoJust curious, have you drank more in beer than you've bought in Bitcoin?
- Frogolocalypse 9y agoNot yet!
- TazeTSchnitzel 9y agoBecause, if they can quickly convert it to real money, they're hopefully safe.
- sf_rob 9y agoTheir announcement lacks details, but it's probable they are using an existing Bitcoin checkout service and never have to touch BTC themselves.
- kaching 9y agoThumb up, just like the top drug dealers don't abuse drug themselves
- topranks 9y agoTypically retailers who accept Bitcoin do just that. PWC don't charge "cup of coffee" money for anything so I guess accepting bitcoin could work for them, despite the high transaction fees.
- Frogolocalypse 9y agoBitcoin fees are pennies. I paid 25c for a txn yesterday, and that's just because i didn't want to wait a week for the chain commit, which normally i couldn't care less about. The value of bitcoin is already greater compared to the amount i transferred + the txn fee.
- jacquesm 9y agoAn accounting company (Arthur Andersen) created $100B revenues out of thin air, internet bubble money sounds like a very useful ingredient for high level 'creative accounting'.
- aplummer 9y agoIt’s a marketing play. Appear innovative and differentiate commoditised accounting services. Sell advisory services to governments and big business on crypto. Good idea really.
- Rapzid 9y agoScarcity and demand drives worth. As well, interestingly, scarcity itself can drive demand for certain goods...
- FLUX-YOU 9y agoClearly running BTC services are just a training ground for PwC infosec teams to better learn to secure stuff. Protecting consumer/business data is just so damn boring because nothing happens if you get it wrong. /s
- djellybeans 9y agoI think EY Switzerland was actually the first.
- bhtru 9y agoPeople don't consider EY Switzerland as one of the "Big Four". You're right though EY Switzerland did this same move roughly one year ago.
- ckocagil 9y agoHere's a dilemma about the extremely bullish Bitcoin market: I would be happy to get paid in Bitcoins, but do people want to pay in Bitcoins? Everyone I've heard wants to hoard them ("hodl"). I only remember buying a single item with Bitcoins and that was because the online store had difficulty with my credit card.
- Frogolocalypse 9y agoI have a bitcoin debit card. I use it every other day. I call it my magic internet beer money card.
- p33p 9y agoLegitimately curious how a bitcoin debit card works
- Frogolocalypse 9y agoPut x$ in bitcoin on card exchange. Put y$ in card account. Use card from y$. 15 minutes or so later, y$ account is topped up from x$ account. Txn never touches the chain. Sure it's a risk having a bit of money on an exchange, but that is the price of convenience. When the amount on exchange is too high, i shift to my bitcoin wallet.
- dmoy 9y agoDoes this complicate filing your taxes?
- Frogolocalypse 9y agoNope. As long as the money i spend on the card is less than the money i place on it i only have unrealised capital gains. If and when i want to spend more than that, i will have to pay capital gains on that component. It's no different than a high interest savings account. That's what bitcoin is; A decentralized banking account. Except you are your own bank.
- brucephillips 9y agoSerious question: How is BTC going to ever achieve the price stability required for a currency?
- api 9y ago... or the transaction volume?
- brndnmtthws 9y agoThe volume will increase in line with adoption.
- brucephillips 9y agoIsn't this tautological? What does "adoption" mean if not "transaction volume"?
- brndnmtthws 9y agoI assume the parent was referring to the trade volume, which is significantly lower than more established assets.
- brucephillips 9y agoAh, I interpreted it to mean transaction volume, since that's an indicator of BTC's utility beyond speculation.
- astrange 9y agoIs that before or after they figure out how to do more than 7 BTC transactions a second?
- brndnmtthws 9y agoWhy are people so obsessed with stability? Prices can float freely.
- kaching 9y agoI am a Hongkonger, please listen to my advice: https://www.youtube.com/watch?v=6y1o_DblVmA https://www.youtube.com/watch?v=6y1o_DblVmA Cryptocurrencies will be another bubble story.