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Let's say you accept bitcoin but immediately convert it to USD. In future one of your suppliers also decides to accept bitcoin. Now you can pay your supplier di
by qnr 13y ago
Let's say you accept bitcoin but immediately convert it to USD. In future one of your suppliers also decides to accept bitcoin. Now you can pay your supplier directly without the USD conversion step. This wouldn't have happened without you actually deciding to accept bitcoin in the first place.
I don't see any other way to bootstrap a new currency.
- wmf 13y agoIf you hold BTC for any amount of time between when you get paid by the customer and when you pay the supplier you're taking a huge risk.