Ambassador Beaverslayer Posted February 7, 2015 Author Ambassador Report Posted February 7, 2015 (edited) Thor, Winter here in Calgary this year has been pretty nice actually, seeing as all the Alberta Oil Sands contribute so much to Global Warming and all. Most of the risk regarding Bitcoin is from holding it and hoping the value will increase or buying Bitcoins at a high price and again hoping the value goes back up over $1,000.00. If you are accepting it as a payment using a reputable company as your POS provider, and having them convert it to US dollars or the currency of your country, then the risk as well as the cost. is actual far less than conventional credit card/debit card, PayPal or even Western Union Money orders. As long as you price your goods in a "Dollar" amount and the person pays with Bitcoin at time of check-out, then the Bitcoin is converted at that time. This eliminates the volatility of Bitcoin value changes. Yes people have lost millions of dollars "Investing" in Bitcoin, no different than people who have lost millions "Investing" in the stock market. People bought large quantities of Bitcoin when the price was very high, just to watch the price drop very low, as long as you convert your Bitcoin sales to Fiat once received you are not faced with this problem. Now back to basking in this glorious Alberta winter...if Global Warming is real...Bring it on... Edited February 7, 2015 by Beaverslayer Quote Beaverslayer Custom Leather<br />Wearable Works of Art https://www.facebook...erCustomLeather
Members leatherwytch Posted February 7, 2015 Members Report Posted February 7, 2015 I won't be able to hold onto any bit coins. So any I get will roll over very quickly. Quote Creative people need maids. Http://www.LeatherWytch.com
Members cgleathercraft Posted February 18, 2015 Members Report Posted February 18, 2015 I hate to bring up this old thread again but I believe it could save someone lots of headache..... I set up an account with coinbase.com a while back and just had it sitting there ready to go to accept bitcoins as payment for a couple wallets that I was going to make to test the market. I had to enter my bank information in order to get the bitcoin account verified and usable. This morning my account had been cleaned out in less than 2 hours. The bank had identified that the transactions came with the same ID as coinbase.com. Luckily I'll get most of the money back since it was caught early enough. my suggestion - turn away from bitcoin and keep walking. there is enough of a market in USD or any other standard currency to keep us all happy. Best of luck and hope I'm the only one that got bit by this. Quote http://www.cgleathercraft.com Member of the Iron Brigade.
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