Question about BitPay

[Alpaca Bob]

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?

[1715285717]

1715285717

[1715285717]

1715285717

[Phinnaeus Gage]

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

[niothor]

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.

[Alpaca Bob]

Where is BitPay based? The US?

[niothor]

Where is BitPay based? The US?

Headquarters
BitPay, Inc.
3423 Piedmont Rd NE
Suite 516
Atlanta, GA 30305
1-855-4-BITPAY

[Alpaca Bob]

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...

[PenAndPaper]

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.

[Alpaca Bob]

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...

[niothor]

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.