As long as the price goes up, the merchants can make additional profit from accepting bitcoin, they can hoard a few days and sell higher later.
But drops like 900$ to 450$ within 2 days scare them away. And once the bubble pops, most won't touch bitcoins, it's going to be too risky.
Topic: The Volatility of BTC makes it hard for companies to accept it. - page 2. (Read 1316 times)
November 26, 2013, 08:29:00 AM
November 26, 2013, 08:20:44 AM
Right, so please tell me if im missing something blatantly obvious. But with the volatility of BTC being such that it changes on the hour, for vendors to start to accept it as a legitimate currency wouldnt their prices have to be dependent on current the exchange rate?
For example.
I want to buy a pair of trainers that typically cost $80 USD, back in July I could have purchased this with 1BTC. So lets say today that same vendor has them marked at 1BTC or $80 USD, if I paid by BTC my trainers now cost over $800!
So with people wanting to accept BTC how do you envisage pricing so that it is realistic based on fiat (via a conversation based on current price)?
Unless im missing something, without a rate determined straight away I cant see how mass adoption can be viable?
Or what am I missing?
For example.
I want to buy a pair of trainers that typically cost $80 USD, back in July I could have purchased this with 1BTC. So lets say today that same vendor has them marked at 1BTC or $80 USD, if I paid by BTC my trainers now cost over $800!
So with people wanting to accept BTC how do you envisage pricing so that it is realistic based on fiat (via a conversation based on current price)?
Unless im missing something, without a rate determined straight away I cant see how mass adoption can be viable?
Or what am I missing?
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