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How do you quickly buy and sell it at an agreed price without going through a traditional payment provider? It's the same thing, you're just adding a lot of st
by TillE 4y ago
How do you quickly buy and sell it at an agreed price without going through a traditional payment provider?
It's the same thing, you're just adding a lot of steps with a ton of overhead.
- Gigachad 4y agoThere is a pretty common situation where your operation is legal and you can use some form of financial service but you can't have the provider be publicly known. Say you are a political related org and you need to accept donations. You can't use paypal, stripe, etc because those platforms will receive enough complaints that they will de platform you, but you can take crypto and sell it later in a way the complainers can't work out who to complain to. This doesn't strictly have to be some instantaneous automated buy and sell. You could accept some % of loss but you don't want to hold for more than a day.
- cwkoss 4y agoIf buyer and seller are both willing to hold value in bitcoin, you can just do the math and send that amount with a thin client - super simple. If either party wants to hedge their exposure to bitcoin volatility, it gets more complicated.