bitcoin merchants, bitcoin value

[Tyger]

Hi all,

I just wanna know how merchants deal with the changes in bitcoin value.
Do they update there prices in bitcoin all the time and cash out immediately?

[bitcoinscanada]

Good question. I imagine pricing products on bitcoin, in a store, is a real nightmare with the fluctuations by the minute..

[nebulus]

No, its not... We have it pegged to MtGox last for all currencies...

[Kluge]

Hi all,

I just wanna know how merchants deal with the changes in bitcoin value.
Do they update there prices in bitcoin all the time and cash out immediately?

Sometimes. There are a few different sites where you can do something like post a $20 price-tag on an item where BTC is accepted. For example:

http://fizzisist.com/priceimg/img/20 (change to what you like)

Various exchanges and other-suchs offer payment processing and merchant solutions where it's done similarly. Generally, everyone uses Gox prices. Some update every 24h, 1h, or quicker. Listing sites like BitMit also integrated the ability to price in USD, where the BTC price changes based on exchange rate.

BitPay, however, will give BTC price based on USD and automatically cash out at the time BTC's received - if that's what you want. They will also direct-deposit right into business account for a fee.

[Tyger]

im asking because i asked a site for the ability to pay out in btc.
But he said that it was to risky and unstable.

[Kluge]

im asking because i asked a site for the ability to pay out in btc.
But he said that it was to risky and unstable.

Send 'em on over to www.bitpay.com

[Tyger]

yeah i did, seems the best way, also from Avalons experiance bitpay seemed the best one.