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/biz/ - Business & Finance

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17574075 No.17574075 [Reply] [Original]

pause your fucking LINK talk or whatever for a sec, i'm new

how does buying shit with crypto work?
like say i wanted to buy something that's $10 with bitcoin. So i buy $10 worth of BTC but by the time i'm ready to purchase the price of BTC has dropped. what then?

does this happen?

>> No.17574094

I'm pretty sure typically the idea is you agree to the purchase/sale and the amount of bitcoin you agreed to pay is "locked in". And then you send that amount, regardless of how its USD price may have changed in the meantime.

>> No.17574120
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17574120

>pause your LINK talk
no

>> No.17574137

>>17574075
Pause your fucking newfag talk

>> No.17574631

>>17574075
Fuck off

>> No.17574774
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17574774

>>17574075
>pause your fucking LINK talk or whatever for a sec, i'm new

>> No.17575246

We will be using stable coins based on smart contract platforms such as Ethereum. Bitcoin will never be a currency but think of it as a digital store of value such as gold. It will always have value because it had such a major first-mover advantage in the blockchain space but the industry has moved way beyond it in the last decade.

>> No.17575400

>>17574075
>What then?
You will get $10 worth of BTC based on the price at the time of transaction.
>Does this happen?
All the time.

>> No.17575405

>>17574075
buy 0xbtc
wait until ethereum is scalable
there you go, the perfect electronic cash satoshi nakamoto wanted

>> No.17575445
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17575445

>>17574075
newfag is a fucking boomer who doesn't understand crypto. GTFO fag

>> No.17575451

>>17575405
my bad, did not read carefully enough. No idea how buying stuff with crypto works in regards of crypto price fluctuations.

>> No.17575525

>>17575451
re-read my post, check out MakerDAO and Reserve Protocol. Here's an interesting read as well: https://medium.com/reserve-currency/our-analysis-of-the-makerdao-protocol-4a9872c1a824

>> No.17575541

>>17575451
>>17575525
I misunderstood I thought you were OP

>> No.17575561

>>17574075
if you're in the US get a bitpay card, it's retard proof

>> No.17575608

>>17574075
newfags >>>/out/

>> No.17576165

>>17574075
You've never used Bitpay? Holy shit, and I paused my LINK talk for this?