And the snowball keeps rolling downhill. Just wow. https://www.bloomberg.com/news/arti...-may-be-behind-40-percent-rally-in-recent-ipo
Guess that way would work as the merchant is getting US dollars on their end. I can’t quite grasp how bitcoin is ever suppose to be considered a currency with this volatility. Imagine being a merchant accepting bitcoin for a product and before you can exchange it to dollars you down 10 percent. I don’t see any articles about people using bitcoin as a currency, just articles about people buying it to hope for more of the crazy gains. I think the next big trade not shorting cryptos because that’s like trying to catch a falling knife. It’s trying to build a position into wherever all the money from them is going to move to after the bubble burst. Still working on ideas for that one.
Merchants would obviously factor volatility into each transaction e.g If the price for a product or service was US$100, they might charge US$100 plus a 5% bitcoin processing fee and their systems would convert any bitcoin receipts immediately to US$. As bitcoin becomes more stable, the fee would probably be in line with normal merchant fee charges.
I disagree - the fee should be 0% when bitcoin becomes stable. Are we so beaten up by fees they become the norm? This is electronic currency - there shouldn't be any need for fees to transact.
"This setup lets investors play the growth of bitcoin transactions without forcing the bank to hold the volatile cryptocurrency on its balance sheet."
I wouldn't use it, Can you imagine buying something whille the value is down and you don't really knowing? With auto converion and volatibility, it seems like a easy way to lose money
I think it's good that they can take advantage of bitcoin to start paying for all our daily things, but the percentage that these people ask for is a robbery. They just want to make a profit because the price of the btc goes up every day.