UpstateNYUPSer(Ret)
Well-Known Member
How do the merchants get paid?
Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
How do the merchants get paid?
Operational needs
Virescit Vulnere Virtus
What do you guys think of the Iraqi Dinar thing? Two of my friends have been buying them and one just sent me these. I read conflicting things online about them...some saying it’s a scam and others saying they will probably revalue one day. I’ll just stick them in a drawer and forget about them. Lol.
slaveofbigbrown
Well-Known Member
They have wallet addresses that you send the coin to in exhange for goods. Some countries now have actual bitcoin ATM’s that you can exchange for currency.
oldngray
nowhere special
Brownslave688
You want a toe? I can get you a toe.
Do you mean in usd or what currency?
Sorry I'm not sure exactly what you're asking.
Brownslave688
You want a toe? I can get you a toe.
"TenX issues you a debit card. You download an app on your phone, load it up with some of your crypto assets and start swiping away. Simple as that. That let’s you bridge the gap between the old world and the new one right now."
Why TenX Will Change the Way You PAY for Everything
Operational needs
Virescit Vulnere Virtus
I didn’t buy those. He bought them for me.
Brownslave688
You want a toe? I can get you a toe.
This is cryptocurrencies we are talking about.
I have no idea about paper currency. The paper currency can be very hard to predict because it's all controlled by a few central banks.
UpstateNYUPSer(Ret)
Well-Known Member
Let me rephrase—-how do they get paid in real money?
Jkloc420
Do you need an air compressor or tire gauge
slaveofbigbrown
Well-Known Member
They would have to convert it to currency and deposit it. Take Coinbase for example. All my bank info is linked. All I do is sell my btc to currency and they deposit it to my bank
UpstateNYUPSer(Ret)
Well-Known Member
For free?
Brownslave688
You want a toe? I can get you a toe.
"Your crypto is never stored on their systems. There’s no need to trust TenX to hold your money. You are your own bank. The system uses the magic of smart contracts to automate the process of transferring cryptocoins to your card. In essence, the contract self-escrows the money and releases it to the network as needed. The conversion to old world money, like dollars and cents, happens on the fly as you pay."
Quoted from
The article I linked. The conversion happens in real time on the fly.
slaveofbigbrown
Well-Known Member
Lol! Nothing is free! The couple times I’ve withdrawn they charged me like 5-10 bucks. Can’t remember.
UpstateNYUPSer(Ret)
Well-Known Member
My ATM is free. Just sayin’.
Brownslave688
You want a toe? I can get you a toe.
The fees on bitcoin are notoriously high. It's why quiet honestly it's the least advanced of all the crypto.
slaveofbigbrown
Well-Known Member
Yeah can’t argue with that. Price to pay for playing with the big dog tho. Lol
35years
Gravy route
I have been thinking more about this brave new world of unregulated crypto currencies.
Personally, I believe the switch to cryptos will eventually lead to a devastating worldwide economic collapse.
At the first sign of hyper-inflation money floods into cryptos as a hedge against the dollar, or if the current debt crisis in China is mismanaged, the Renminbi...The Venezuela economic meltdown was the pre-cusor, it was not gold or the dollar that people fled to...but cryptos.
China Puts the Global Economy’s Health at Risk
For a short time the cryptos soar. With no regulation to manage volatility, the crash comes quickly afterward.
Just my opinion.
Personally, I believe the switch to cryptos will eventually lead to a devastating worldwide economic collapse.
At the first sign of hyper-inflation money floods into cryptos as a hedge against the dollar, or if the current debt crisis in China is mismanaged, the Renminbi...The Venezuela economic meltdown was the pre-cusor, it was not gold or the dollar that people fled to...but cryptos.
China Puts the Global Economy’s Health at Risk
For a short time the cryptos soar. With no regulation to manage volatility, the crash comes quickly afterward.
Just my opinion.
This is the tech bubble we have been waiting for
- Smart people like VC Bill Gurley are beginning to worry that cryptocurrency ICOs are a bubble.
- People are investing in Bitcoin and other digital coins even though they hold no equity value and offer no claims on any kind of underlying asset.
- On that definition, ICOs are actually worse than dot-com stocks in 1999 — at least back then investors owned a piece of a company with a revenue stream.
- Crypto bulls keep saying that Bitcoin is an established "store of value."
- The problem is that the value being stored is simply everyone else's agreement that there must be value here. There is no other asset. And that is what a bubble looks like.
UpstateNYUPSer(Ret)
Well-Known Member
Not nearly as many.
