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Buying something with BTC doesn't mean it's priced in BTC. With the possible exception of dark web drugs/gun/murder-for-hire/WHY every case I've seen of BTC be
by NovemberWhiskey 5y ago
Buying something with BTC doesn't mean it's priced in BTC.
With the possible exception of dark web drugs/gun/murder-for-hire/WHY every case I've seen of BTC being used for goods and services involves dynamic currency conversion. i.e. the price is in, say, USD and the amount it costs in BTC is derived from the USD spot price of BTC.
It's like I swipe my credit card in Japan; the price is in JPY but I pay in USD.
I would be interested to see any counterexamples.
- ac29 5y agoRight, and Standard Notes doesnt appear to be a counterexample: https://standardnotes.com/plans https://standardnotes.com/plans (all prices are in dollars). They appear to use coinpayments.net, which does the exact sort of dynamic pricing you're talking about - it costs significantly more today to purchase in Bitcoin than it did 24 hours ago.
- reginold 5y agoAgreed! OpenSea is a good example of native crypto pricing -- replied above about that.
- reginold 5y agoOh good point, I see what you mean. Where are things priced natively in Bitcoin or Ethereum, no matter the USD value? Standard Notes is not an example in that case, it just converts BTC to USD. Everything on OpenSea is priced in cryptocurrencies natively: https://opensea.io/ https://opensea.io/ By USD OpenSea's contract transacted an estimated 8% of Amazon's revenues.