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ok since your a retailer that sells a commodity for bitcoin i'm curious.....how does selling goods for bitcoin (or how will it affect you) if the price per bitcoin plummets to around $1 per bitcoin?
is the price of your commodity pegged to the local fiat currency first and the cost in bitcoin adjusted to match its equivalent price in the fiat currency? or do you have a set bitcoin price for example (a pound of coffee) cost .01 bitcoin per/lb? no matter what the current price per bitcoin is?
is the price of your commodity pegged to the local fiat currency first and the cost in bitcoin adjusted to match its equivalent price in the fiat currency? or do you have a set bitcoin price for example (a pound of coffee) cost .01 bitcoin per/lb? no matter what the current price per bitcoin is?
I hold and use some in bitcoins - because I'm in this for this adoption of BTC. So yes, I certainly take a risk if the value of BTC falls dramatically in a short time.
At the same time, I still need to pay for things like the raw beans, the packaging and the shipping in local fiat - so some of the BTC must be "traded out" to fiat to cover these.
With this in mind, I base my BTC price to reflect the current price in local fiat. (Until the day comes I can do ALL the transactions I need for this project in BTC!)
For those uncomfortable with bitcoin as a store of value, there is always the opportunity to immediately cash out of any bitcoins received (ie. Alice sends 100 bitcoins to Bob; Bob wants to hold US dollars, not bitcoins, so, using one of many exchange platforms, he immediately exchanges his bitcoins for US dollars).
