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Author Topic: Shops/stores will lose money when Bitcoin price falls  (Read 123 times)
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January 18, 2018, 11:53:44 PM
 #21

I don't think bitcoin will ever be used in that way, it can either replace a currency in a country entirely in which case the price fluctuations would only effect transactions outside their country, or it can be used in such a way where it is converted to fiat immediately at the time of the transaction.

You are far too fiat centric, which to a certain extent is understandable right now, but there might at some point be a time where people don't calculate in fiat terms anymore, but just in satoshis. At that point fiat will be tied to Bitcoin, and not vice versa. Bitcoin is a completely new asset class with the potential of surpassing the current major traditional assets. And yes, it may never turn out to happen, but at least it's something that I will be happily looking forward to. Bitcoin for me isn't just a an investment tool, it's a whole new road to freedom.

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January 19, 2018, 12:51:18 AM
 #22

The thing is, most shops that accept bitcoin implement systems that automatically converts the bitcoin to FIAT at point of sale, so they're pretty much unaffected by these huge price swings.

I agree with you mate, i actually do the same thing, if i'm also the owner of a shop that accepts bitcoin, then i don't want also to store bitcoins in a long period of time. I aslo implement that system that automatically converts bitcoin to fiat, to gain more profits and to prevent of losing money.
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