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How can retailers hedge Bitcoin?

 
Anonymous Coward
User ID: 74833502
Malta
07/17/2017 05:35 AM
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How can retailers hedge Bitcoin?
I am looking at accepting Bitcoin in my online store, but the volatility scares the crap out of me. I don't want to accept a payment in BTC in the morning and the value drops in the afternoon and I can't pay my bills in the real world. At the same time, I need to keep some BTC around to cover things like refunds.

Do any retailers out there have any advice on how to construct a viable BTC hedging strategy?
Anonymous Coward
User ID: 75240183
07/17/2017 05:44 AM
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Re: How can retailers hedge Bitcoin?
If you have that much fear in the world, you are probably best just to wrap yourself in cotton wool and don't take any risk xx
Anonymous Coward (OP)
User ID: 74833502
Malta
07/17/2017 06:37 AM
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Re: How can retailers hedge Bitcoin?
If you have that much fear in the world, you are probably best just to wrap yourself in cotton wool and don't take any risk xx
 Quoting: Anonymous Coward 75240183


Gee thanks for the helpful advice. Any actual business people out there who have to concentrate on making an actual profit, instead of this pea-brained dunderhead?
Anonymous Coward
User ID: 75240183
07/17/2017 06:45 AM
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Re: How can retailers hedge Bitcoin?
If you have that much fear in the world, you are probably best just to wrap yourself in cotton wool and don't take any risk xx
 Quoting: Anonymous Coward 75240183


Gee thanks for the helpful advice. Any actual business people out there who have to concentrate on making an actual profit, instead of this pea-brained dunderhead?
 Quoting: Anonymous Coward 74833502


Oh thanks. Even without bitcoin your business is sure to fail with your wanky attitude.
Anonymous Coward (OP)
User ID: 74833502
Malta
07/17/2017 07:08 AM
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Re: How can retailers hedge Bitcoin?
The only sure-fire way I can see is to price products and services in real-world stable currencies like USD, EUR etc., but make them payable in BTC as a payment method.

Until there is a safe way to hedge the volatility, BTC as a currency isn't going to be viable, especially in industries with small margins.
Anonymous Coward
User ID: 75126231
United States
07/17/2017 07:11 AM
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Re: How can retailers hedge Bitcoin?
Good question up. Ive thought about this too
Anonymous Coward
User ID: 38148547
United States
07/17/2017 08:09 AM
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Re: How can retailers hedge Bitcoin?
The only sure-fire way I can see is to price products and services in real-world stable currencies like USD, EUR etc., but make them payable in BTC as a payment method.
 Quoting: Anonymous Coward 74833502

I think this makes a lot of sense.

Reasonable and easily explainable to customers.
Armchair General
The Only Five Star General on GLP

User ID: 75229486
United States
07/17/2017 08:16 AM

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Re: How can retailers hedge Bitcoin?
The only sure-fire way I can see is to price products and services in real-world stable currencies like USD, EUR etc., but make them payable in BTC as a payment method.

Until there is a safe way to hedge the volatility, BTC as a currency isn't going to be viable, especially in industries with small margins.
 Quoting: Anonymous Coward 74833502


I don't believe that many retailers price their goods or services in bitcoin, so to protect against the devaluation of bitcoin - retailers should simply not accept it as a payment type unless they want to accept the risk of devaluation.

Last Edited by Armchair General on 07/17/2017 08:17 AM
-Armchair General-

"I served in all commissioned ranks from Second Lieutenant to Major General and during that period, I spent most of my time being a high-class muscle man for big business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism." -Major General Smedley D. Butler, USMC - 1933
Anonymous Coward
User ID: 75241519
United States
07/17/2017 10:09 AM
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Re: How can retailers hedge Bitcoin?
The only sure-fire way I can see is to price products and services in real-world stable currencies like USD, EUR etc., but make them payable in BTC as a payment method.

Until there is a safe way to hedge the volatility, BTC as a currency isn't going to be viable, especially in industries with small margins.
 Quoting: Anonymous Coward 74833502


I don't believe that many retailers price their goods or services in bitcoin, so to protect against the devaluation of bitcoin - retailers should simply not accept it as a payment type unless they want to accept the risk of devaluation.
 Quoting: Armchair General


Thanks General, makes sense.
Anonymous Coward
User ID: 74964177
Canada
07/17/2017 10:36 AM
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Re: How can retailers hedge Bitcoin?
There are a few interesting "payment" systems where you have a plastic "card". Buy your starbucks like usual, but behind the scenes it converts from BTC to the local currency on the fly. tenX is one, I think Monaco is another.

surely, there is a credit card terminal that accepts BTC, converts to your local currency and deposits in your bank.

haha, googled it.

[link to bitpay.com (secure)]
Anonymous Coward
User ID: 73517386
United States
07/17/2017 10:42 AM
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Re: How can retailers hedge Bitcoin?
Do not accept Bitcoin unless you are able to take a loss. Same as investing, you can win and you can lose.
Skeeter Barnes

User ID: 73617375
United States
07/17/2017 10:44 AM
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Re: How can retailers hedge Bitcoin?
The only sure-fire way I can see is to price products and services in real-world stable currencies like USD, EUR etc., but make them payable in BTC as a payment method.

Until there is a safe way to hedge the volatility, BTC as a currency isn't going to be viable, especially in industries with small margins.
 Quoting: Anonymous Coward 74833502


The only thing I use BC on is Online Gambling. and this is how it functions. I buy in USD and it buys the equivalent BC. Your risks are valid. I have only benefited from the price change in payouts because its been on the rise. You could always sell it right away but theres an addtional fee to sell the Bitcoins so you have to price your margins with the total cost in mind
That little girl from Salt Lake City. Two quart legs and two rubber titties. Loves electricity, but she burns off gas. Got a V8 pussy and a Cadillac ass.
utahoutlaw

User ID: 71245375
United States
07/17/2017 10:56 AM

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Re: How can retailers hedge Bitcoin?
You can accept payment as bitcoin, then transfer it to tether.

Tether always has the same value as USD


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