Re: [FIBRE] | 650k | FibreConnect | FibreDark | FibreLock

There was a slight delay in launching the payment method but it's up and running now! Now you can get your gold and silver with FIBRE. Well over 50% of ALL of our sales come from the BTC community....lets change that.

EDIT: It should be noted...support goes beyond acceptance at ShinyBars.com, there also exists a rather full ShinyBars.com FIBRE wallet...

Shinybars, my only question is, 1oz of gold is about 1250$, but when bought with fibre, the price is near to 1550$. I understand you need some extra, but 20%+ is a bit too much if you ask me...
The bitcoin price is very atractive, so because of this, i would buy much faster with bitcoin than fibrecoin, saving 300$.

I await your answer

They are taking a risk on accepting fibre. 5000 year old currency vs. A 1 month old one. I think they deserve the right to a large buffer.

Pyeah but still, currently when a coin is received it can be sold directly for us dollar. Maybe this percentage of 20% gets lower over time as the liquidity of Fibre increases.

You nailed it on the head, until liquidity exists, we have no choice but to create a buffer. With that said, we aren't the typical merchant who simply dumps for usd. We are a top 20 holder of Fibrecoin, a top 80 holder of VTC and have some BTC as well. Our checkout process for both VTC and FIBRE consists of sending the coins directly to a wallet rather than an exchange/gateway.

As liquidity comes to the market premiums will be reduced on the Fibre side. No liquidity=no cashflow so we are taking quite an initial risk by accepting this. Upon checking the exchange this morning, I see that liquidity is already improving...

EDIT: In addition to the above, given that Fibre is quite new, we don't really expect large $ value purchases but rather higher premium, 1oz and fractional products.