Luxury watchmaker Breitling starts accepting Bitcoin for purchases

If you buy crypto from them, you obviously give them fiat

 

who buys crypto from them and why?

they seem to be focusing on getting vendors to accept crypto. That flow is going to be 99percent one way.

 

they still can’t ship the watch to a Russian address.

 

Nah...there are more than enough people who downloaded the app to buy bitcoin commission free. Not the traders, but retail and HODLers. They have one of their simple, colorful buttonmashers. You know, where you don't have to care about order types and TIF and you only need to type in the dollar amount and press buy^^

 

Ok. So they also market to retail guys. They are selling fiat to retail merchants and buying fiat from retail investors.

And only taking 1percent from the merchants.

 

Exactly.

 

Its really not that hard to understand. Works just like ummmm ... fiat does in most cases.

 

just cheaper and faster

 

Except fiat is stable and firms still charge 3percent for processing and risk management.

 

The latter anyway.

Charging more is better?

For the credit card processor it is.