Post
Topic
Board Trading Discussion
Re: Interesting conversation with a retailer who formerly accepted Bitcoin
by
jwzguy
on 27/07/2012, 18:38:23 UTC
The rebuttal would be that the dollar could also be worth 50% less the next day.

Yes, but it wont! And if it does, I have a lot worse issues to deal with then buying more tea... like finding a bunker to hide in!

You don't know that. The US's currency has certainly crashed before. I agree it's unlikely that it would happen in one day. If you've looked at the price history for bitcoin, it's also unlikely bitcoin will drop by 50% in one day.

If you don't want to invest anything into bitcoin, and just want to use it to increase your customer base, that's still great. We are happy to have you and support you. You can cash out every day yourself with an exchange like Bitfloor, which has free ACH transfers. Or you can pay someone else like Paysius (1.5%) or Bit-Pay( 3%) a fee to cash out instantly for you.

One thing I don't understand is the statement that it's too much hassle for the amount of customers that it was brinigng. If it's bringing in very few customers, surely it's very little hassle. Also very little risk. Even if you were risking leaving some of your assets in Bitcoin, with the very small amount of Bitcoin business you're getting, vs the fanatical support Bitcoin customers give (at least the ones I know), it seems like you have very little to lose.

But obviously that's up to you to decide, whether I understand your reasoning or not. I hope you keep Bitcoin in the loop. If I lived nearby or was even traveling nearby, I would make a point to stop at your store or anywhere that's accepting Bitcoin right now, and I don't even drink tea!

Best wishes. Smiley