Quote from: nmteaco on July 27, 2012, 05:56:29 PM

I am looking at it logically, and last year the potential gain did not out weight the risk. I saw within a few months bit coin go from $2 to $8 to $16 to $60 (!) and then back down to $8. I had people who wanted to buy tea when it was at $60, if I had done that then I would have lost a significant amount. I also did not want to keep flip flopping and accept them, then not accept them, then accept them again, so I decided to stop all together.

Maybe the system has calmed down now... I have not looked at it in about a year. So you can say... "well just sell all your bit coins for $60 when you take them for $60"... but I have other aspects of this business to run as well. I cant be monitoring bitcoin all day!

I'm sorry, Sir; but you are remembering this all wrong. Bitcoin's all time high was just under $32. You seem to have doubled that number, which is a sign of an emotional response, not a rational thinking process.

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However, technology has moved on... I did not know about bit-pay, so maybe its time to take another look at it.

Thank you everyone for your input and thoughts on this.

Yes, things have moved significantly on that front in the past year. I'm pretty sure that there are other options than just Bitpay as well. Such as plugins for online retailer sites that handle the exchanges automaticly via their own API's. Doesn't Bitinstant also do instant exchanges for merchant accounts as well?