ToeNailClippings@lemmy.world to Lemmy Shitpost@lemmy.world · 8 months agoGonna be a great day!lemmy.worldimagemessage-square182fedilinkarrow-up1655arrow-down153
arrow-up1602arrow-down1imageGonna be a great day!lemmy.worldToeNailClippings@lemmy.world to Lemmy Shitpost@lemmy.world · 8 months agomessage-square182fedilink
minus-squareFlying Squid@lemmy.worldMlinkfedilinkarrow-up4arrow-down2·8 months agoConsidering the volatility of Bitcoin, those store owners are nuts.
minus-squareschmidtster@lemmy.worldlinkfedilinkarrow-up1arrow-down1·edit-28 months agoWhy it coverts to cash at the POS machine and they are paid in cash?
minus-squareFlying Squid@lemmy.worldMlinkfedilinkarrow-up3arrow-down2·8 months agoAgain, volatility. When the price isn’t stable, you could lose massively.
minus-squareschmidtster@lemmy.worldlinkfedilinkarrow-up1arrow-down1·edit-28 months agoIt doesn’t matter in the sightest…. If it takes 5 bitcoins or .5 bitcoins the shop still gets their $1.50 for a coffee minus their fee… I’m sorry you can’t comprehend how this system works and is viable in lots of places.
minus-squareFlying Squid@lemmy.worldMlinkfedilinkarrow-up3arrow-down2·8 months agoIf 5 bitcoins is suddenly worth 3 bitcoins, the exchange rate will change and the company will lose money. It’s a major gamble.
minus-squareschmidtster@lemmy.worldlinkfedilinkarrow-up1arrow-down1·edit-28 months agoHuh…. just like any other currency/foreign currency already… It doesn’t matter to the store, and these companies that provide the services are making profit or they wouldn’t be around anymore. They charge less fess than credit card companies, they get a cut from every sale, just like credit cards do… It’s a viable business sorry mate, bark up a different tree.
minus-squareFlying Squid@lemmy.worldMlinkfedilinkarrow-up2arrow-down1·8 months agoWait… you’re saying Starbucks wouldn’t be around anymore if it stopped gambling on Bitcoin?
minus-squareschmidtster@lemmy.worldlinkfedilinkarrow-up1·8 months agoNope and what does that have to do with anything we’ve discussed….?
minus-squareFlying Squid@lemmy.worldMlinkfedilinkarrow-up1arrow-down1·8 months agoOkay, so where are they paying for coffee? You brought that up.
Considering the volatility of Bitcoin, those store owners are nuts.
Why it coverts to cash at the POS machine and they are paid in cash?
Again, volatility. When the price isn’t stable, you could lose massively.
It doesn’t matter in the sightest…. If it takes 5 bitcoins or .5 bitcoins the shop still gets their $1.50 for a coffee minus their fee…
I’m sorry you can’t comprehend how this system works and is viable in lots of places.
If 5 bitcoins is suddenly worth 3 bitcoins, the exchange rate will change and the company will lose money. It’s a major gamble.
Huh…. just like any other currency/foreign currency already…
It doesn’t matter to the store, and these companies that provide the services are making profit or they wouldn’t be around anymore.
They charge less fess than credit card companies, they get a cut from every sale, just like credit cards do…
It’s a viable business sorry mate, bark up a different tree.
Wait… you’re saying Starbucks wouldn’t be around anymore if it stopped gambling on Bitcoin?
Nope and what does that have to do with anything we’ve discussed….?
Okay, so where are they paying for coffee? You brought that up.