Post
Topic
Board Beginners & Help
Re: Any Merchants Accepting Bitcoins in Non-Bitcoin Related Industry?
by
hothothot1994
on 13/05/2013, 02:13:49 UTC
The rapid fluctuations in the price of BTC make it difficult for retail operations such as yourself.  One way to think about it is to ask yourself: are you willing to go to sleep each night with your revenue in BTC?  How would you react to waking up and being down 10%, 20%, 50%?  Would you be able to implement a stop loss system to minimize your losses?  Would you cash out at the end of each day to minimize losses?

I'm also posting to find out what your hot sauce company is.  I'd love to buy some.  Could you compare it to something I may be familiar with?

I use a merchant account with BitPay so I can either keep the bitcoins or have them instantly exchanged and a deposit in USD made to my bank account. Otherwise you are absolutely correct and it would be a huge risk.