Quote from: 4n0n on June 17, 2011, 12:16:53 AM

I was considering allowing BitCoin payments on my site, where I sell my own software. I use VirtueMart and although there has been BitCoin payment integrated, it can't be used with other currencies so far. If it was able to do that, then it isn't really possible to peg a simple BitCoin price in the same way you can with other currencies because of the massive price fluctuations at the moment.

I therefore think an API to a BitCoin exchange for currency conversion, together with integration with open source e-commerce solutions would take a lot of the (projected) hassle factor out. I haven't looked into the bid/offer system in BitCoin but the pricing given to retailers through such a system would have to take into account potential market manipulation.

Ideally, as near instant as possible automated conversion to traditional currency would seal the deal. Then, for retailers, there wouldn't be any disadvantage.

Just throwing that out there, whilst simultaneously attempting to reach 50 posts without too much chaff.

Somehow it appears to be hard to include some kind of retail instant-quote button for a price in BTC to existing operations. Someone selling software via a webstore, or a utility company billing residents shouldn't have to deal with monitoring rates and taking the hassle to pipe it through, isn't that what financial service provider are for? Then again, why would an existing large bank or payment servicer volunteering to cut off the branch that is earning the fees. I just think it's not beneficial if a normal seller has to worry about exchanges rates at different and changing BTC exchanges.

Btw, I think the bar for postings was lowered to 5 posts now, looks like you're good to go..