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would have lost some of their profits (in dollar terms) No, not in "dollar terms," in "general purchasing power terms," there is not some parallel bitcoin econ
by cb18 12y ago
would have lost some of their profits (in dollar terms)
No, not in "dollar terms," in "general purchasing power terms," there is not some parallel bitcoin economy where people can buy the things they need for bitcoin that doesn't take into account the bitcoin exchange rate with other currencies.
- knowaveragejoe 12y agoNot sure why this is downvoted. The vast, vast majority of businesses accepting bitcoin for goods themselves are immediately converting to USD(or whatever) to cover their own overhead. Their prices are tied to the USD.
- gonzo 12y agoIt's not just "overhead". The reality with BTC is that if you accept BTC, you're responsible for the basis of the sender, which is impossible to know. Converting to fiat currency eliminates that risk.