Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
lyth0s
on 08/02/2015, 19:25:42 UTC
To be honest you are assuming that they are not keeping a % of the payment in BTC with their payment processor.

Some merchants may do that (just as some merchants actuall accept bitcoin directly, without BitPay's intermediation).  But I am pretty sure that Dell, Microsoft, Wikipedia, etc. do not.  Handling bitcoins requires extra work from accoutants, which is not worth the amount of payment received.  Losses from bitcoin price variations (as Overstock and Fortress suffered) would have to be reported in the quarterly reports, and would be hard to justify to stockholders.

Quote
Also what is important to note is that BTC like USD,CAD,YEN,CHY,GBP and any other currency is being accepted for payment Cheesy

SIgh.  No, it is not the same thing.  Dell USA does accept USD, because you can wire USD to their bank account directly. They do not accept CAD,YEN,CHY,GBP nor BTC, and you cannot send them any of those currencies directly; you must send them to some other company, that converts them to USD and sends the USD to Dell.

Jorge, can't you see that we are arguing about what 'accepting' means?  Everybody agrees about the model, the underlying chain of events that takes place during and after a payment (if a company chooses to get paid fully in fiat).  It's just that when a company allows you to pay for products in BTC, I call that "accepting BTC", whereas for you "accepting" apparently means whatever you are getting paid by the payment processor at the end of the process.  

I didn't follow the discussion leading to this, so maybe I'm out of line, but strangely it seems I'm siding with Stolfi on this. If we're talking about what it means to accept BTC I think we have to ask why we want companies to do that. In the end we'd like to see a purely Bitcoin-based economy with the companies using the BTC they're being payed with for their products to cover their cost (machinery, marketing, salaries, consulting, raw materials, insurance, taxes,...). In case of a company 'accepting' BTC through bitpay and converting 100% to fiat, this is clearly not the case.

So no: Dell is not accepting bitcoin. They're using it as a marketing tool.


Dell still has to pay its suppliers in USD. As time passes and more companies (including suppliers) accept bitcoin, then companies such as dell could potentially keep some of the btc and use it directly to pay their part suppliers, shippers etc. A full bitcoin based economy is not something that happens overnight, it is a long transition.