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I don't really want this type of drive-by snark from a newspaper, but I think there is some truth to what was written. It's seems like any time a merchant anno
by ssharp 12y ago
I don't really want this type of drive-by snark from a newspaper, but I think there is some truth to what was written.
It's seems like any time a merchant announces they'll accept BitCoins, it will get pushed to the front page of /r/bitcoin and probably drum up some business because of it. I know of some local businesses who got online and print coverage for announcing that they're accepting BitCoin have hardly had any actual BitCoin activity.
I'd be interested to see if any of the big companies, e.g. NewEgg, Overstock, etc., have seen sustained business increases from accepting BitCoins.
- jkyle 12y agoThe overwhelming majority of those companies also don't actually accept bitcoin. They've brokered a deal with an exchange. Bitcoin payments are made to the exchange and the exchange pays the vendor in U.S. currency. So, the company isn't actually transacting in bitcoins.
- drinkzima 12y agoBy that token most companies do not take anything but their own currency. Currency hedging is something corporations do to align costs and revenues - companies generally are not trying to make money wagering on currency positions.
- ssharp 12y agoAbsolutely. They are accepting BitCoin for the convenience of customers, not because they hold a positive opinion of it.