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BMW will not accept it's bitcoin being locked for 90 days The way I see the future, BMW will not only lock their Bitcoin for 90 days but much longer. And n
by TekMol 5y ago
BMW will not accept it's bitcoin
being locked for 90 days
The way I see the future, BMW will not only lock their Bitcoin for 90 days but much longer. And not only the Bitcoin they owe to one supplier. But a large portion of their Bitcoin. Aka their virtual bank account. They can still use their account however they like. But if one of their suppliers feels that the balance goes dangerously low, the supplier can block further spending or settle everything.
- johnday 5y agoSurely suppliers want to be paid? Accumulating a huge pile of IOUs is of zero benefit to someone who has actual real-world costs, such as taxes, payroll and capital outlays.
- TekMol 5y agoWhat do you mean by "be paid"? Usually, one is "paid" when "the money is in the bank", right? And this is what happens here. The initial step is to create a bank and then "payments" happen there. As for how to pay someone who is not "customer" of this bank, see my answer to this question: https://news.ycombinator.com/item?id=29227788 https://news.ycombinator.com/item?id=29227788
- jessaustin 5y agoLots of firms, especially those whose value is based partially on "predictable" profits, want to schedule payments in Q2 rather than Q1.
- danlugo92 5y agoLightning transactions are final. Anything else is FUD.