Paying with Bitcoin

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Anonymous
Paying with Bitcoin 2017-09-16 04:03:45 Post No. 3502797
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Paying with Bitcoin Anonymous 2017-09-16 04:03:45 Post No. 3502797 [Report]

Can someone explain to a retard (me) how paying with Bitcoin can possibly work? Like, if .01 bitcoin is worth say $38 when you click checkout, but becomes $33 when the seller trades it for 'real' currency, how can wares be accurately priced in btc?

Anonymous 2017-09-16 04:05:26 Post No.3502824
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Anonymous 2017-09-16 04:05:26 Post No.3502824 [Report]

>>3502797
>01 bitcoin is worth say $38
pffft, thats .000000000000001 btc in 2020

Anonymous 2017-09-16 04:07:16 Post No.3502843
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Anonymous 2017-09-16 04:07:16 Post No.3502843 [Report]

>>3502824
is that evasive language for "i dont know"?

Anonymous 2017-09-16 04:10:17 Post No.3502867
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Anonymous 2017-09-16 04:10:17 Post No.3502867 [Report]

I am a god and I will let you know about my genius dear retard

The current BTC price is grabbed from an API

Then an algorithm is placed to determine the BTC price

The algorithm for the BTC price would be the fiat price for the product(s)/service divided by the BTC value, if I'm not tripping

Anonymous 2017-09-16 04:10:39 Post No.3502873
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Anonymous 2017-09-16 04:10:39 Post No.3502873 [Report]

It's a risk for the giver (person buying stuff) and the receiver (usually a middleman that converts crypto to fiat for the buyer imeddiately).

Also prices are usually set in fiat and then converted to crypto using whatever is the current exchange rate.

Anonymous 2017-09-16 04:12:06 Post No.3502891
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Anonymous 2017-09-16 04:12:06 Post No.3502891 [Report]

>>3502867
Oh, the algo should also plus the transfer BTC cost I guess, if it's paid by the customer which it probably will. I assume that this also can be grabbed from an API I assume

Anonymous 2017-09-16 04:26:53 Post No.3503039
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Anonymous 2017-09-16 04:26:53 Post No.3503039 [Report]

>>3502797
By paying with bitcoin, and not some fiat currency.
1M satoshi will always be 1M satoshi.

Anonymous 2017-09-16 04:28:56 Post No.3503061
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Anonymous 2017-09-16 04:28:56 Post No.3503061 [Report]

>>3503039
>>3502873
>>3502891
>>3502867

Thanks gents. Still seems kinda risky but at least there are countermeasures

Anonymous 2017-09-16 04:33:48 Post No.3503106
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Anonymous 2017-09-16 04:33:48 Post No.3503106 [Report]

>year 2025
>dollar is long gone, worth nothing, nobody wants it, just like leaves in the trees
>things get priced in tiny fractions of btc
>???

Anonymous 2017-09-16 04:36:27 Post No.3503127
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Anonymous 2017-09-16 04:36:27 Post No.3503127 [Report]

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What is the price of something is $32.42½

Anonymous 2017-09-16 04:41:28 Post No.3503172
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Anonymous 2017-09-16 04:41:28 Post No.3503172 [Report]

>>3503061
It's sounds risky because btc now is volatile as fuck. Start comparing the btc price to stuffs for getting clearer picture instead of comparing it to fiat.
>1btc means 10 ton of rice

Anonymous 2017-09-16 04:52:29 Post No.3503277
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Anonymous 2017-09-16 04:52:29 Post No.3503277 [Report]

The volatility will go away when it becomes mass adopted

Anonymous 2017-09-16 05:06:40 Post No.3503420
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Anonymous 2017-09-16 05:06:40 Post No.3503420 [Report]

the price is so volatile because its still pretty low market cap. When the marketcap is in the trillions, the price per bitcoin wont be so volatile

Anonymous 2017-09-16 05:09:15 Post No.3503449
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Anonymous 2017-09-16 05:09:15 Post No.3503449 [Report]

When JP Morgan has 51% of all btc in active circulation, they will regulate and set a fixed price forcing whales to come out and crash the market resulting in them buying up even more and making an end to it.

Anonymous 2017-09-16 06:03:03 Post No.3503981
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Anonymous 2017-09-16 06:03:03 Post No.3503981 [Report]

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this thread is the best example of how retarded this board is holy shit

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I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/