So I sent my laptop in to be repaired by an online repair technician.
His rates are good, and the computer was repaired and ready to be payed for and shipped back. He asks me for credit card information.
"Do you accept Bitcoin?" I asked,
"no we don't accept that currency" he responded,
"The transaction costs are really low if you accept bitcoin!" I replied
"No I'm sorry we don't accept it, unfortunately that currency is dying." He countered
"You know there is a way you can lock in your dollar value once you receive bitcoin as payment so that you don't experience the volatility and lose dollar value when you accept it." I suggested
"silence" on his end.
"Ok, heres my credit card information. "..........." I finally answered and completed the transaction.
So to make a point, the computer technician knew about bitcoin but didn't have much interest in it. I hope there was some interest sparked and he would investigate avenues such as bit pay. My question to all you buffs out there is.... I know there are ways to peg bitcoin to the dollar via btsx and bitusd. As well as other avenues recently approved by the USWatchdog.
http://uk.reuters.com/article/2014/09/12/us-usa-bitcoin-cftc-idUKKBN0H71FU20140912What would be the best way for a merchant to peg his bit coins received via payments to the USD so that they would feel all cozy and soft inside and not worry about the volatility of btc's dollar value?
although I am not sure how the USD would make you feel so secure, but that is another issue for another post.
Thanks,