If they would do that it would make their life much more difficult as they would have to hedge all these crypto's against USD. The oil industry is USD based. What is the advantage then of selling in crypto's? Only extra hedges and extra costs, and also the risk of losing money if they make an error in their hedges.
That is what most of the kiddos don't understand,including Musk. If someone wants to speculate in cryptos then open a hedge fund. Oil producers, bakeries, airlines,.car manufacturers...are not in the business of day trading and speculation. Everyone gets that other than Elon and his disciples.
These companies are only interested in what we call their "core business". And that is surely not crypto's. Their expenses are surely not paid in crypto's, so if they would work with BTC they would have to hedge on a daily basis to avoid losing money. If the profit margin of these companies is small they will never accept BTC as it may wipe out their complete profits.
Conventional grocery stores have a profit margin of about 2.2%, making them one of the least profitable industries in the US. So for them BTC (or any other crypto) is excluded as payment method, because before the client who paid walks out of the store BTC can already move more than 2.2% down, which means that all profits are gone. It is impossible to hedge this volatility. Each payment should immediately be hedge, which means millions of hedges...
You should research bitcoin (crypto) payment processors before you post nonsense like that Bitpay, PayPal, Square, Visa and Mastercard... No currency risk for the merchants
Not me but you are telling nonsense. You like all posts that are positive about crypto's. That's proof that you are part of the pump and dump scam. It is impossible that each positive post for BTC is so good that you should like it. First point: there is a currency risk as BTC has a huge volatility and can even move 10% and more within 24 hours against the USD. Nobody can deny that. Second point: somebody has to take that risk. Either the payer or the receiver. Nobody can deny that too. If the receiver gets BTC, while his whole business model is based on USD, he has to sell his BTC for USD as he needs these USD to pay the bills (salaries, water, gas, electricity, taxes, stocks...). With the huge volatility he should be forced to hedge quickly as the volatility is many times bigger than his own profit margin. Bitpay, PayPal, Square, Visa and Mastercard... are no merchants, they are the link between the buyer and the seller. They just take a commission, they never own any BTC, they just take a commission. The buyer and the seller are the only two parties that are at risk. Walmart, Mc Donalds,Starbucks... are some of the sellers. They run the risk, together with the buyers of their products. Bezos just ordered a super yacht in the Netherlands for $ 500 million. Why would he use BTC? First remark: if he would buy in BTC he would have no clue what the price will be as it can be in 2 year $50 million or $ 5 billion. BTC would only cause more risk and problems and has no advantage at all. It would be like a lottery. Second remark: The Dutch would have no clue how much they will receive in 2 years. they have the same problem:$50 million or $ 5 billion. Third remark: both parties have a business model that does not use BTC. Bezos is making money and paying expenses in USD; the Dutch do it in EUR. Why use then BTC? Fourth remark: the bank that will execute Bezos payment will take a commission, they are never at any risk, so they can work with BTC as they just get a commissions from it. The bank never owns any BTC from this deal, so for them it is easy to say: we accept BTC. Now thell me why Bezos should buy that yacht in BTC. What are the big advantages? And more in general why should people pay in BTC?
You typed so much, all you had to do was do research on bitcoin payment processors to understand what I'm trying to inform you NewEgg accepts bitcoin as payment Cheapair.com accepts bitcoin as payment If you had bitcoin and used on those 2 websites I mentioned, you will be presented by a Bitpay invoice Those 2 merchants get paid in $, they never see a bitcoin Google it, don't believe me
You clearly don't understand what I speak about. You missed everything. In your example the first person pays in BTC. So he takes the risk as at any moment price can go up or down. Depending on at what price he bought these BTC, he will buy cheaper or more expensive. Somebody who has no BTC and does not want to pay in BTC (the large majority all over the world) will never use this way of paying. The buyer or the seller ALWAYS takes the risk. It is impossible that both of them have no risk. https://fintechzoom.com/fintech_new...ttractive-payment-option-anypay-execs-answer/
Isn't it the seller who takes the risk (the one holding crypto)? If you were to sell a house for bitcoins and didn't convert to USD and in few days your crypto was to lose 30% of value, you'd be out of pocket for substantial amount. As you said, crypto can be a volatile market.