2014_ The year to start accepting Bitcoin at your business _ Bitcoin bitcoin worth today

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I don’t believe in bitcoin, but I would be willing to accept it for my business if I could get a guaranteed sum of fiat from it.

To avoid the up to ~50% intra-day volatility, I need a service that converts bitcoin to fiat at point of sale, and not have some extremely risky condition like a minimum of $1000 in receipts before being allowed to cash out (even if you’re a big business, use of bitcoin is still very small, and you might not even get $1000 in sales).Bitcoin worth today

The above is a problem that applies to me and many others I imagine, as I don’t reside in the land of the free and the home of the brave.

I queried about this on here, and it was suggested that one uses coinjar.

This seemed suitable however it turns out there are two major caveats: the first that is one of the two guys that runs coinjar (‘zhou tong’, real name ryan zhou) turns out to be a known crook. Bitcoinica, which he founded and ran, lost over 38,000BTC of customer’s funds in 2012 and went into receivership. ‘zhoutonged’ has even become a popular phrase. Soon afterwards, he announced he was leaving bitcoin forever, however obviously he reneged on this and has came back.

And the second is that I setup my bank details two weeks ago and am still yet to be approved (in other words, nothing is even happening with this shady two-man show).Bitcoin worth today

Tl;dr shitcoin is volatile as hell and is impossible to use for business

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If it’s not then the price shouldn’t be where it’s at.

WTF are you talking about? The markets set the price, it is what it is 🙂

Do you really think that you have such an insight of the whole bitcoin economy that you know what should be the fair price?

Considering the scarcity of bitcoins if it will be adopted widely 1 BTC have to be well over $10K+.

Think in market cap instead of /btc price.

If merchants such as myself don’t receive support, then bitcoin has no value even as a medium of exchange, and therefore will inevitably become worthless.

What do you sell? I see only trolling when I look at your comments not seeking for help or support.

The merchants and businesses can choose what % they want to convert.Bitcoin worth today

You could consider me as one of the crazy bitcoin people, but even I keep only a fraction of profits in btc.

I already pay my domains, hosting and other internet services with btc and I hope to pay for packaging, (IT) equipment, etc in the future, if that happens I’ll have to convert less and less amount to fiat and I’ll be able to save a lot on transaction fees and other banking expenses.

It is a strange concept for the average person, so don’t expect that it will take over the world in a fortnight.

If you really have a business I would love to hear your experience with traditional payment systems btw. 🙂

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The markets set the price

Yes, the speculators have set the price

Now we are beginning to see the aftermath of that: going from $1242 to $455 in two weeks, with worse to come

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Do you really think that you have such an insight of the whole bitcoin economy that you know what should be the fair price?

Yes, and it certainly isn’t above $200

Considering the scarcity of bitcoins if it will be adopted widely 1 BTC have to be well over $10K+.

Scarcity does not automatically translate into value. I might have a rock that resembles the face of elvis presley, and it would probably be the only rock in the world like it. It still wouldn’t be worth jack shit though.

By your logic, some of the altcoins which are more scarce than bitcoin should now be worth more than bitcoin.

Think in market cap instead of /btc price.

Why? What does it matter, and what difference does it make?

What do you sell?

That’s my business, not yours, son.

The merchants and businesses can choose what % they want to convert.Bitcoin worth today

Irrevelant. I, and most other businesses for that matter, want 100% fiat. We do not believe in bitcoin and only want to extract money from the fools who use it without exposing ourselves to the financial risk.

If you really have a business I would love to hear your experience with traditional payment systems btw.

Domestic bank deposit is free, but takes a day or two to receive funds.

International or domestic payment processing costs 2-3%, but is instantaneous.

A service such as bitpay charges 1% or $30/month, and it takes a day or two to receive funds.

There’s no advantage of using bitcoin over fiat, in fact fiat is preferable.

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