Do your Christmas shopping at businesses that dont convert bitcoin to fiat

[stoat]

There needs to be more encouragement for shops to keep bitcoin.  There are a few businesses that keep their BTC as BTC and we should be encouraging that.  Not using companies that are just using the bitcoin for buzz and cashing in on all of us bitcoin consumers. 

There should be a list online of all the businesses that dont convert their bitcoins into fiat. Then we could as consumers make that choice.

[croato]

Merchants must to preserve their liquidity and pay for expenses so they will mostly convert coins for fiat and i dont see anything wrong with that. If ppl buy same amount of coins they spent, Bitcoin value is not touched by merchants dump. Expecting from merchants to hold all coins is bit to much.

[Amph]

Merchants must to preserve their liquidity and pay for expenses so they will mostly convert coins for fiat and i dont see anything wrong with that. If ppl buy same amount of coins they spent, Bitcoin value is not touched by merchants dump. Expecting from merchants to hold all coins is bit to much.

actually it is wrong because it prevent bitcoin to grow, or it slow down it greatly, if no one will dump bitcoin anymore, but they keep using them directly for the enxt thing

we would enter in a circle, where there will be no more the need for fiat, there muats be services out there that can work together with those merchants for paying their expenses

like utility bills and stuff like that, that are for us already, https://www.cashila.com/ for example is one of them

[MaritiJames3]

Well to do this, we will need a list of merchants who pledged they convert it directly. Most payment providers do convert the bitcons instantly when makeing a purchase for example.
So yeah how can we trust merchants to say they won't convert it? They can do it, without anyone finding it out?

[stoat]

Well to do this, we will need a list of merchants who pledged they convert it directly. Most payment providers do convert the bitcons instantly when makeing a purchase for example.
So yeah how can we trust merchants to say they won't convert it? They can do it, without anyone finding it out?

For now it can rely on good hearted businessmen and entrepreneurs who care about the bitcoin economy.  Later we may need to look at how businesses are structured.   

I suggest that all businesses could have their accounts public on the blockchain.  This way the whole economy will be transparent. 

[Moneyburner]

It's just not feasible at this point for a company to do that... There are too many costs that are tied to fiat money. That list would be too small

[maku]

It is hard to expect that retailers or merchants which operated mainly in FIAT would want to keep bitcoin. In our current economic system, where bitcoin is extreme volatile.
I am afraid that there is no list of merchants or services which keep bitcoin directly but you can assume they are bitcoin related companies rather than sellers.

[OROBTC]

There needs to be more encouragement for shops to keep bitcoin.  There are a few businesses that keep their BTC as BTC and we should be encouraging that.  Not using companies that are just using the bitcoin for buzz and cashing in on all of us bitcoin consumers. 

There should be a list online of all the businesses that dont convert their bitcoins into fiat. Then we could as consumers make that choice.

My best guess is that just using BTC as often as possible is good enough, and that the universe of companies NOT changing them into FIAT$ is probably pretty small.

I have only bought (consistently) from providentmetals.com, who offer gold for BTC, but they change it to FIAT$ right away.

I agree with above comments that (especially small) businesses have expenses to deal with, and so often need almost every single dollar just to keep rolling.

I don't really care if a business converts to FIAT$ or not.  If they take Bitcoin, that is good enough for me.

[gentlemand]

If I was a craft business making my own stuff then I'd go all BTC. As long as there's a supply chain then that dirty fiat will always be a factor. Bitpay did say quite a few of their customers retain large proportions of bitcoin so it's not as cut and dried as it first appears.

[stoat]

There needs to be more encouragement for shops to keep bitcoin.  There are a few businesses that keep their BTC as BTC and we should be encouraging that.  Not using companies that are just using the bitcoin for buzz and cashing in on all of us bitcoin consumers.  

There should be a list online of all the businesses that dont convert their bitcoins into fiat. Then we could as consumers make that choice.

My best guess is that just using BTC as often as possible is good enough, and that the universe of companies NOT changing them into FIAT$ is probably pretty small.

I have only bought (consistently) from providentmetals.com, who offer gold for BTC, but they change it to FIAT$ right away.

I agree with above comments that (especially small) businesses have expenses to deal with, and so often need almost every single dollar just to keep rolling.

I don't really care if a business converts to FIAT$ or not.  If they take Bitcoin, that is good enough for me.

This is the wrong attitude to have.  If everyone gave their btc to business which promise not to convert to fiat, its those business owners who will then seek out a supplier which takes BTC and promises not to convert to fiat and the cycle continues and you develop a parallel economy without the need to ever convert to fiat.

If we want to develop this btc economy the way we want it we have to be scrupulous as consumers.

Also currently, people are more reluctant to spend their btc, one of the reasons is, that they think if they spend btc they are reducing the value of their own money because the merchant will convert to fiat.  If i was a business i would not convert any btc to fiat. It doesnt mean I have to ONLY accept btc but that portion of my turnover that is in btc i would endeavor to keep as btc

[OROBTC]

There needs to be more encouragement for shops to keep bitcoin.  There are a few businesses that keep their BTC as BTC and we should be encouraging that.  Not using companies that are just using the bitcoin for buzz and cashing in on all of us bitcoin consumers.  

There should be a list online of all the businesses that dont convert their bitcoins into fiat. Then we could as consumers make that choice.

My best guess is that just using BTC as often as possible is good enough, and that the universe of companies NOT changing them into FIAT$ is probably pretty small.

I have only bought (consistently) from providentmetals.com, who offer gold for BTC, but they change it to FIAT$ right away.

I agree with above comments that (especially small) businesses have expenses to deal with, and so often need almost every single dollar just to keep rolling.

I don't really care if a business converts to FIAT$ or not.  If they take Bitcoin, that is good enough for me.

This is the wrong attitude to have.  If everyone gave their btc to business which promise not to convert to fiat, its those business owners who will then seek out a supplier which takes BTC and promises not to convert to fiat and the cycle continues and you develop a parallel economy without the need to ever convert to fiat.

If we want to develop this btc economy the way we want it we have to be scrupulous as consumers.

With respect and courtesy, I disagree.

For many businesses it is HARD to segregate any capital into something other than currency.  Our business (import of auto parts into Peru), we almost always need every dollar that comes in.  If someone else's business is strong enough to put some FIAT$ aside for HODLing BTC, well more power to them.

Myself, well..., I keep my own "stack" of BTC.  Not converted.  Not until BTC is into at least the high four figures...  

[parmatiya]

For the time being, most bitcoin accepting retailers will have to convert most of their bitcoin. I am not against that. If they can hold some to pay their employees, that is already very good.

[stoat]

It is possible especially in a service industry to have no need to immediately spend takings.

And im not saying the business has to hoard the coins. They a free to spend them on various business expenses.  You can use btc to pay for advertising very easily,  server hosting etc. 

Im sure most businesses can find a cost that they could switch to a provider that accepts bitcoins.

One day when even our primary producers are accepting bitcoin, a distributed network of smallholders will overtake your monsantos of the world

[medUSA]

I think it's a step forward for merchants to accept bitcoin. Pressuring them not to convert back to fiat is not that reasonable. They have to convert at least part of the bitcoin to cover costs. If you want to offset the effect, buy back the same amount you spent from the exchange.

[stoat]

I think it's a step forward for merchants to accept bitcoin. Pressuring them not to convert back to fiat is not that reasonable. They have to convert at least part of the bitcoin to cover costs. If you want to offset the effect, buy back the same amount you spent from the exchange.

Its not pressuring.  Its encouraging.


Im not suggesting we campaign against merchants converting to fiat (after all its a free market and bitcoin will stand or fall on its own merits) but as bitcoin consumers we can support businesses that support our ideological goals.

[btckold24]

yeah like some have posted they need to use the money they bring in so they can stay in
business. They have no choice to convert. Unless more vendors start taking bitcoin then
they can simply restock using bitcoin instead of fiat.

[helloeverybody]

Does anyone have a list of companys that accept btc and dont convert to flat? This would be useful to the community as a whole.

[stoat]

Does anyone have a list of companys that accept btc and dont convert to flat? This would be useful to the community as a whole.

I do not believe that such a list exists. It would be advantageous to the community to have such a list.

[Amph]

Does anyone have a list of companys that accept btc and dont convert to flat? This would be useful to the community as a whole.

none, at best you can find some of them holding a portion, because they believe in a increase in value for the future, which is what the majority of us are doing

[DimensionZ]

Maybe some of the smaller vendors keep a small of portion of the btc profits in btc and don't convert all to fiat.