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0 pointsacabal13y ago0 comments

Nobody has bit, and for a few reasons I think:

1. The site audience tends to be a little older and not very tech-savvy, so Bitcoin isn't something that many are interested in comprehending.

2. Since the price was fixed at 2BTC a few weeks ago when 1BTC~=35USD, and now 1BTC~=100USD, people will see this is a raw deal. (The USD price for a membership is $65.)

It's #2 that's the hard part. I'm not interested in accepting BTC just so I can convert it to USD, but since everyone's so focused on the BTC->USD exchange rate as the measure of value for BTC, and since the rate is so insanely volatile, it's impossible for a merchant to fix a "fair" price without auto-adjusting the BTC price to the USD exchange rate.

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waterlesscloud13y ago

Auto-adjusting to the rate doesn't require you to cash out to USD, though. You can easily both adjust and hold on to the resulting bitcoin.

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