Quote from: richardsNY on February 25, 2018, 07:20:52 PM

Quote from: stevegreer on February 25, 2018, 03:04:27 PM

I have read articles about many businesses that have stopped accepting Bitcoin because of how volitile the price is on a minute-by-minute basis. It makes sense to me too. There is always a risk that by the time a transaction for a product has been made and the Bitcoin subsequently traded for dollars that the value has gone down and the merchant ends up losing money.

Merchants aren't losing anything due to the volatility, which is why I don't understand why they even use it as an excuse. In let's say, +95% of the cases, merchants make use of third party payment processors such as BitPay. BitPay takes care of everything when it comes to people using Bitcoin to pay for stuff. Merchants themselves don't even deal with Bitcoin at all -- they just get the fiat value of the Bitcoin transaction (minus the BitPay fee) on their bank account. Merchants however do have the option with BitPay to keep a certain part of every transaction in Bitcoin, but thus far I haven't seen any merchant do so and publicly talk about it.

That's a good point. Thanks for the info!