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Title: Question about BitPay Post by: Alpaca Bob on November 27, 2013, 11:35:50 AM Where do they get their fiat from? One particular exchange? Several? Which ones? Do they trade right when purchases are made? If not, how do they deal with the price-swings? What about Bips, and others?
Title: Re: Question about BitPay Post by: Phinnaeus Gage on November 27, 2013, 02:26:32 PM Where do they get their fiat from? One particular exchange? Several? Which ones? Do they trade right when purchases are made? If not, how do they deal with the price-swings? What about Bips, and others? Boy, I bet those upward price-swings are killing them right now. To address your main question, I'm pretty sure we're not privy to where or how they convert, but I will guess Mt Gox or BitStamp. As a company, they can't just sell them to anybody due to regulations, I believe. But, they can be to paid to a principle, whereupon s/he may convert, but now we're talking a tax nightmare. Then again, I guess it may work if they convert using one entity who's business model is to do such that, akin to a one customer only exchange. Grey, but it might work. I look forward to meeting Tony again in Las Vegas during the conference on the 10th and 11th. ~TMIBTCITW Title: Re: Question about BitPay Post by: niothor on November 27, 2013, 02:30:43 PM They used Mtgox for both the price and exchange. I know they dropped them as a price indicator but not sure about the exchange part.
Title: Re: Question about BitPay Post by: Alpaca Bob on November 27, 2013, 05:15:25 PM Where is BitPay based? The US?
Title: Re: Question about BitPay Post by: niothor on November 27, 2013, 05:18:40 PM Where is BitPay based? The US? Headquarters BitPay, Inc. 3423 Piedmont Rd NE Suite 516 Atlanta, GA 30305 1-855-4-BITPAY Title: Re: Question about BitPay Post by: Alpaca Bob on November 28, 2013, 10:26:11 AM So if they'd use MtGox, that must mean they are able to withdraw dollars to the US then?
I guess I'm asking questions nobody has the answer to, but I figured I'd give it a shot anyways... Title: Re: Question about BitPay Post by: PenAndPaper on November 28, 2013, 10:32:13 AM So if they'd use MtGox, that must mean they are able to withdraw dollars to the US then? I guess I'm asking questions nobody has the answer to, but I figured I'd give it a shot anyways... Well most probably their withdraws will be treated with a higher priority than everybody else. Title: Re: Question about BitPay Post by: Alpaca Bob on November 28, 2013, 12:48:26 PM So if they'd use MtGox, that must mean they are able to withdraw dollars to the US then? I guess I'm asking questions nobody has the answer to, but I figured I'd give it a shot anyways... Well most probably their withdraws will be treated with a higher priority than everybody else. That's what I was thinking. That would actually explain a lot of the delays... Title: Re: Question about BitPay Post by: niothor on November 28, 2013, 12:52:00 PM So if they'd use MtGox, that must mean they are able to withdraw dollars to the US then? I guess I'm asking questions nobody has the answer to, but I figured I'd give it a shot anyways... Well most probably their withdraws will be treated with a higher priority than everybody else. That's what I was thinking. That would actually explain a lot of the delays... Bitpay is based in Us, but they do have some regional offices , so they could deal in Euros also. usd problem solved. |