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How do you account for Bitcoin’s volatility in your accounting? I think this is one of my biggest critiques about using bitcoin as a payment method - I am much
by alextheparrot 9y ago
How do you account for Bitcoin’s volatility in your accounting? I think this is one of my biggest critiques about using bitcoin as a payment method - I am much less certain about how many dollars I am receiving (At scale people can and will abuse this).
- wslh 9y agoWe use a third party in this case so from the accounting point of view we are receiving fiat currency. Regarding volatility, yes, we are exposed to volatility which until this point is less than the spread between the real exchange rate and the bank one. But obviously there is a risk associated with unexpected events.