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The individual who sells the Ponzi scheme makes money by siphoning off a large share of the money coming in. In other words, he does not make the investment. Bu

by gokhan 13y ago

The individual who sells the Ponzi scheme makes money by siphoning off a large share of the money coming in. In other words, he does not make the investment. But Bitcoins are unique. The money was siphoned off from the beginning. Only true if we see Satoshi spending his Bitcoins. We have an online store selling baby products and really want to accept Bitcoins but we can't at the moment since Bitcoin is not widespread and price fluctuates madly. Once everybody got some and price is predictable in the short run, we'll show the finger to the bank, the real one siphoning from our pocket as commissions without actually providing any reasonable service.

paulgb 13y ago
Don't services like bitpay absorb the price fluctuations for you and pay out USD?
- nwh 13y ago
  Yep. There's absolutely no risk for a vendor setting prices like this.
ashray 13y ago
Hi, I suggest that you check out bitpay.com They will bill your customers in bitcoin and will transfer out USD to you so that you don't have to worry about the exchange rate at all. You setup your items in USD as well and they handle the price fluctuations. They do daily payouts to 30 countries in several currencies. I've been using them since April and it's amazing! Sincerely, A happy bitpay customer :) Edit: oh and I must add! They used to take 1% commission but have introduced new packages that have 0% commission from $30/month! Also, the daily bank withdrawals are free.
- gokhan 13y ago
  I'll check out Bitpay, thanks a lot.
- aestra 13y ago
  Out of curiosity do you have many people who pay in bitcoin?
VLM 13y ago
"price fluctuates madly" Look at it as training if you ever branch out into selling in (hyper)inflationary markets. For example, in the 80s, people in Argentina continued to pop out kids and would theoretically be a market for your baby product store... if you have the infrastructure to handle "difficult market conditions" then you have an inherent competitive advantage in the future over your competitors. About the only thing that's really certain about the future of hyperinflation is it'll continue to happen, so a return on the investment seems guaranteed; although when you'll get the return and if that makes it worthwhile is unpredictable. Perhaps you'd totally own the baby products market in .mx in 2017 or .us in 2020, who knows.

by gokhan 13y ago

paulgb 13y ago

Don't services like bitpay absorb the price fluctuations for you and pay out USD?

nwh 13y ago
Yep. There's absolutely no risk for a vendor setting prices like this.

ashray 13y ago

Hi, I suggest that you check out bitpay.com They will bill your customers in bitcoin and will transfer out USD to you so that you don't have to worry about the exchange rate at all. You setup your items in USD as well and they handle the price fluctuations. They do daily payouts to 30 countries in several currencies. I've been using them since April and it's amazing! Sincerely, A happy bitpay customer :) Edit: oh and I must add! They used to take 1% commission but have introduced new packages that have 0% commission from $30/month! Also, the daily bank withdrawals are free.

gokhan 13y ago
I'll check out Bitpay, thanks a lot.
aestra 13y ago
Out of curiosity do you have many people who pay in bitcoin?

VLM 13y ago

"price fluctuates madly" Look at it as training if you ever branch out into selling in (hyper)inflationary markets. For example, in the 80s, people in Argentina continued to pop out kids and would theoretically be a market for your baby product store... if you have the infrastructure to handle "difficult market conditions" then you have an inherent competitive advantage in the future over your competitors. About the only thing that's really certain about the future of hyperinflation is it'll continue to happen, so a return on the investment seems guaranteed; although when you'll get the return and if that makes it worthwhile is unpredictable. Perhaps you'd totally own the baby products market in .mx in 2017 or .us in 2020, who knows.