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Probably because Bitcoin is significantly more volatile than any reasonable currency. It's far more like a stock than a currency. The issue dispensaries have i
by joecot 5y ago
Probably because Bitcoin is significantly more volatile than any reasonable currency. It's far more like a stock than a currency.
The issue dispensaries have is that they can't open bank accounts. If the issue was just with only paying in cash they could just accept the cash and deposit it at the bank. If they could use bank accounts they could accept bitcoin and immediately sell it for money deposited in the bank for that value.
Instead they have cash, safes full of cash, and they pay their workers in cash. If they accepted bitcoin they would have to hold their capital in bitcoin and pay out workers in bitcoin. They're not going to do that when bitcoin can crater in value day to day. On the same token they could just accept shares in GameStop for transactions. The problem is that tomorrow they could double in value or be worth nothing, which is not very comforting when you're a business with bills to pay.