The article is not really worth reading. Here is a summary:
The way to protect yourself from Bitcoin's volatility is to avoid holding bitcoins.
Topic: [2016-01-10] Protecting Consumers From Bitcoin Volatility (Read 328 times)
One of the most often heard comments about Bitcoin is how consumers and businesses want to protect themselves against the price volatility. While it is far easier for businesses to use a payment processor and convert funds to fiat currency on the fly, the story is quite different for regular consumers. Some companies offer Bitcoin “locks”, but the question is whether or not people should bother in the first place.
http://themerkle.com/news/protecting-consumers-from-bitcoin-volatility/
http://themerkle.com/news/protecting-consumers-from-bitcoin-volatility/
A payment processor converts bitcoins to fiat just after the transaction takes place, to protect the merchant from volatility.
A consumer can hold his money in fiat and then convert it to bitcoins, just before the transaction takes place.
The article starts off by noting this, and then moves to these third party providers...
I am in Bitcoin because I allows me to be the full owner of all my coins and the direct value of the coins in fiat currency. I will never ever let a third party have control over my coins.
What is worse; Seeing the coins decrease a bit in value, but you do have the coins fully in your control. OR. Letting a third party control your coins just to prevent you from suffering from the volatility, with the chance that this third party will leave the scene with your coins.
What is worse; Seeing the coins decrease a bit in value, but you do have the coins fully in your control. OR. Letting a third party control your coins just to prevent you from suffering from the volatility, with the chance that this third party will leave the scene with your coins.
One of the most often heard comments about Bitcoin is how consumers and businesses want to protect themselves against the price volatility. While it is far easier for businesses to use a payment processor and convert funds to fiat currency on the fly, the story is quite different for regular consumers. Some companies offer Bitcoin “locks”, but the question is whether or not people should bother in the first place.
http://themerkle.com/news/protecting-consumers-from-bitcoin-volatility/
http://themerkle.com/news/protecting-consumers-from-bitcoin-volatility/
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