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So they also accept payments in Bitcoin, and that's also a way to hedge against a 'Black Swan Event' ?
by lamplovin 5y ago
So they also accept payments in Bitcoin, and that's also a way to hedge against a 'Black Swan Event' ?
- Finnucane 5y agoWell, there’s events and there’s events. Bitcoin depends on there being at least some digital-industrial infrastructure being functional. Whereas if that all collapses, you can at least eat your gold bars.
- weare138 5y agoAccept payments for what though? Considering Palantir's business model and clientele they may have some ulterior motives in their eagerness to accept cryptocurrency as a form of payment. Peter Thiele has no problem with 'black swan events' as long as it benefits him.
- Proven 5y agoAnd you do not? If a black swan event made you earn extra income this year, would you donate the untaxed extra income to a humanitarian organization? To the clownish comment about eating gold: money is gold, and nothing else.
- geofft 5y agoWhy does that involve accepting payments in Bitcoin instead of accepting payments in fiat and converting some amount of their choosing to Bitcoin after the payment has gone through?
- Rebelgecko 5y agoAre they doing the Tesla method of handling refunds for Bitcoin purchases? That seems like a great way to hedge. e.g. if someone pays in Bitcoin, the seller reserves the right to either return the original BTC OR the original cash value. That way if BTC goes up you can issue refunds in USD, and if BTC tanks you can issue refunds in BTC
- geofft 5y agoWhy is that better than accepting payments in USD only, sending refunds in USD only, and converting some of the USD into BTC after you received it? The number of people who a) buy a Tesla b) in BTC c) and ask for a refund has got to be so small that this doesn't seem like an effective way of hedging against BTC losing value relative to USD.