3 ms·
Yeah, but you have to pretty much turn that money back into cash ASAP if the value of BTC is dropping, or else someone pays you 1 BTC for something and that's w
by bennyg 13y ago
Yeah, but you have to pretty much turn that money back into cash ASAP if the value of BTC is dropping, or else someone pays you 1 BTC for something and that's worth ~$800 one day and $100 another. If it's just in an account, you've lost a lot of value, right?
- nly 13y agoTbh, I thought Bitpay did all that for you.
- bdcs 13y agoYou can use bitcoin as a payment network so that you have zero bitcoin price exposure. Truly none. For example, with BitPay your POS terminal tells a price denominated in USD to BitPay, (BitPay quotes a bitcoin-denominated price to the customer with a unique address and the customer pays), and then BitPay tells the merchant the payment came through. BitPay credits the merchant account the USD-denominated value. At the end of the day, BitPay settles up the account (eg. ACH payment to merchant bank account). Never does the merchant hold bitcoins.