Why would you not hear from me again?? Is something going to happen to me, dude??
Can I have the guarantee in btc??
Luxury watchmaker Breitling starts accepting Bitcoin for purchases
- Thread starter johnarb
- Start date
Why would you not hear from me again?? Is something going to happen to me, dude??
Can I have the guarantee in btc??
Obviously he is intimating that he feels that if BTC drops another 20-30% you would be wiped out.
You forgot a foreign currency is actually native somewhere. Unlike BTC which doesn't function as a currency in a meaningful capacity anywhere because it's garbage and doesn't work. Tesla tried to sell cars directly for BTC and not a single deal went through from all that's public info.
BTC is a made-up digital token and digital collectible of no value, use, or purpose. It's being intentionally mislabeled as a coin and currency to attract buyers.
They likely don't. I tried to find info on these and AMC gift cards use BitPay. Others likely similar.
Even if they directly took your BTC, that level of adoption after BTC being around for 13 years and being the "number one" is quite pathetic actually.
Such hate lol.
Note I don't possess now or in the past Bitcoin, but I may in the future.
You can hold your breath till mommy finds your binky but major merchants daily are added to the already long list of those who accept Bitcoin. Whether or not a processor is in between.
Try using a debit or credit card to purchase something without some device/network in between you and the seller is not the point.
Plastic money is digital. Bitcoin is digital. Live with it.
https://www.cnbc.com/2021/02/09/til...-dealership-has-sold-17-cars-for-bitcoin.html
Now of course you will come back and say ..... but its not Tesla itself.
Baron
ET Founder
Clearly some of you have never had a merchant account before so you have no clue how the process works.
Breitling is a retail merchant. In order for Breitling to accept Amex as a method of payment, they must have an Amex merchant account. That means they can accept Amex cards for a watch purchase, but the caveat is that Amex takes the money from the consumer for the purchase, and then they deduct 2.89% of that amount for themselves as a service fee and then they forward Breitling the rest of the money a week later. I repeat. Breitling never receives the full amount of the watch purchase. They receive the total amount minus 2.89% a week later.
So with that in mind, of course Breitling would want to accept BTC through Bitpay. Instead of paying a 2.89% transaction fee, Breitling pays a 1% transaction fee, and instead of waiting for 5 days to get their money, they get it in 2 days. It's a friggin' no-brainer.
Furthermore, aside from a direct bank-to-bank transfer, all credit cards are guess what? Digital tokens. Yep, they are essentially just digital intentions to pay a certain amount by the purchaser that ultimately require conversion into actual dollars by an intermediary. Accepting BTC by Breitling is no different than accepting credit cards aside from the fact that accepting BTC through Bitpay is cheaper and faster.
Breitling is a retail merchant. In order for Breitling to accept Amex as a method of payment, they must have an Amex merchant account. That means they can accept Amex cards for a watch purchase, but the caveat is that Amex takes the money from the consumer for the purchase, and then they deduct 2.89% of that amount for themselves as a service fee and then they forward Breitling the rest of the money a week later. I repeat. Breitling never receives the full amount of the watch purchase. They receive the total amount minus 2.89% a week later.
So with that in mind, of course Breitling would want to accept BTC through Bitpay. Instead of paying a 2.89% transaction fee, Breitling pays a 1% transaction fee, and instead of waiting for 5 days to get their money, they get it in 2 days. It's a friggin' no-brainer.
Furthermore, aside from a direct bank-to-bank transfer, all credit cards are guess what? Digital tokens. Yep, they are essentially just digital intentions to pay a certain amount by the purchaser that ultimately require conversion into actual dollars by an intermediary. Accepting BTC by Breitling is no different than accepting credit cards aside from the fact that accepting BTC through Bitpay is cheaper and faster.
As long as a merchant will accept whatever as payment, where it be wampum or gold coins L
I'll pretend it's a currency.
The one thing I like about bitcoin is that it is not native to any country. Not controlled by a central authority. That gives it some value.
I agree up to a point. It has a use as a medium of exchange and the purpose is to have a medium of exchange that is not controlled by a central authority.
Where I have trouble, is trying to determine a value for it.
Just the fact that some merchants are setting up to transact in bitcoin must mean they see it as a viable alternative to fiat.
Personally I want my currency to be a little more stable, although the range of the Canadian dollar isn't that stable. Same goes for a store of value. It's reassuring to know that if I put $100 in my wallet in the afternoon that the next morning I'll still have $100. Can't say that with bitcoin.
The customer has to pay more, though. BitPay says they're getting their rates from certain exchanges. Whatever the bid-ask spread is is certainly another cost for those who want to sell their BTC through BitPay. Whatever other fees these exchanges charge will likely be baked in as well.
In addition, BitPay says volatility will be "factored in". This means BitPay's rate is worse than what's on the exchange. It could be significantly worse if BitPay's vol prediction algo is let's say a bit conservative, inadvertently resulting in extra profits for BitPay.