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"Manage them in their own pace" entails accepting exchange rate risk, at least until their inputs are priced in bitcoin. Their core business is mixing drinks,
by caf 14y ago
"Manage them in their own pace" entails accepting exchange rate risk, at least until their inputs are priced in bitcoin. Their core business is mixing drinks, not currency speculation, so it makes perfect sense that they don't want to hold bitcoin.
From the bar's point of view this is really no different to a Canadian coming in to the bar and buying a drink with their Canadian credit card - in that case, the customer is debited a $CAD amount by their bank (plus a currency conversion fee) and the bar receives $USD in their account.
- shmerl 14y ago> "Manage them in their own pace" entails accepting exchange rate risk, at least until their inputs are priced in bitcoin. That's exactly my point. Dollars are viewed (and are) way more stable and less risky at present. For real bitcoin economy to expand though, this needs to change, so more and more bitcoins are used for direct transactions, rather than for such instantaneous conversion.