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Re: GAW Zen Hashlet PayCoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
by
MinermanNC
on 04/12/2014, 00:01:15 UTC
Does this guy know what he is talking about? From this post on HT

https://hashtalk.org/topic/15099/i-think-i-figured-out-josh-s-plan

So lets say you're a big retailer, take Amazon for example. Sure, they could accept bitcoin, it's just software. But they wont, because your investment can go down as well as up. Amazon are not going to sell things for a currency that could be worthless tomorrow. Bitcoin has value right now, but tomorrow the price could fall to pennies and never come back up. This is true of all investments, not just bitcoin

Its my understanding that company's like newegg, overstock.com etc. are hosted by company's like coinbase etc. and transactions are managed and converted to fiat for the seller instantly at current BTC value, thus there is no risk for seller, coinbase excepts all the risk of BTC "falling to pennies" as he says in his HT post. lol So I guess his assumption is wrong or he is just uninformed. The retailer holds no BTC    Cry

He needs to do his homework a little more.