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Title: New here, looking for advice. Post by: telephonyware on November 21, 2013, 07:33:20 PM Hello all.
We are an ecommerce site selling voip and PSTN telecommunications gear batting around the idea of accepting Bitcoin or possibly other crypto currencies. The price fluctuations make it seem rather precarious. It appears as though Bitpay and Coinbase can accept Bitcoin and immediately convert to USD to limit exposure to a price drop. I am curious, are there other merchants here that can offer their advice? I am particularly interested in feedback from those that sell tangible things, those that have a high cost of goods. How has accepting Bitcoin worked out for you? Also, would anyone active on this list consider buying gear for telecom installs in Bitcoin? I was going to experiment with this by selling on Bitmit but that idea was cut short with their closure announcement. @Telephonyware Title: Re: New here, looking for advice. Post by: Wendigo on November 21, 2013, 09:36:10 PM I think the bitcoin prices you see in dollars in your Coinbase account changes in real time with the market price so its not permanent if you want to withdraw.
Title: Re: New here, looking for advice. Post by: telephonyware on November 21, 2013, 10:00:26 PM Hi.
Gotcha. My worry is that we take a number of orders during a price crash. If we sold something for 1 BTC, which at the time of purchase was $700 but drops to $500 by the time it's exchanged to USD, we've lost $200 on the transaction. Conversely, holding or taking time to exchange in a price rise benefits us. We would have to be able to switch between immediate conversion into USD to cover costs at least and *maybe* hold BTC on profits to take advantage of a price rise. If this is possible, it's likely worth it. Thanks for the reply. Title: Re: New here, looking for advice. Post by: tunctioncloud on November 21, 2013, 10:05:55 PM Hi. Gotcha. My worry is that we take a number of orders during a price crash. If we sold something for 1 BTC, which at the time of purchase was $700 but drops to $500 by the time it's exchanged to USD, we've lost $200 on the transaction. Conversely, holding or taking time to exchange in a price rise benefits us. We would have to be able to switch between immediate conversion into USD to cover costs at least and *maybe* hold BTC on profits to take advantage of a price rise. If this is possible, it's likely worth it. Thanks for the reply. Try https://bitpay.com/ BTC order will be converted to money immediatelly, no possibility to loose because changed exchange rate |