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As a merchant, it could hypothetically be easier or cheaper to deal with Bitcoin than other currencies online. (For example, note how aggravating/risky PayPal i
by hamidpalo 14y ago
As a merchant, it could hypothetically be easier or cheaper to deal with Bitcoin than other currencies online. (For example, note how aggravating/risky PayPal is.)
It's not. Given the volatility of bitcoin you're taking on a lot of currency risk since the value of the bitcoins you just got for your widget can change a lot in a few days. The extra cost of conversion and/or hedging is not worth it.
Especially when you consider all the other problems that bitcoin has.
- javert 14y agoThere are bitcoin payment processors that allow customers to pay in BTC, and deposit the money in the merchant's account as USD immediately, thereby solving this problem (with a price). I don't know what the state of the art is here, but presumably, that price is going to approach zero, since this is a competitive space, which is not the case with traditional payment processing.