C
Chuck
Guest
Chuck Asks: Value of Product Based on Bitcoins
If I chose to accept Bitcoin as a payment for my product, and the price of the bitcoin goes up or down, then technically I am not getting as much for my product in the long run correct? Because the exchange is based on the dollar as one of the currencies. So If my product cost's 100.00 and that is a certain percentage of a bitcoin then if the bitcoin say its worth 7100.00 that would be .014 bitcoins. But if the bitcoin decreased in price say to 5100.00 then that same product would cost .019 bitcoins. Correct? How dos the fluctuation in price affect the value of my product in dollars?
If I chose to accept Bitcoin as a payment for my product, and the price of the bitcoin goes up or down, then technically I am not getting as much for my product in the long run correct? Because the exchange is based on the dollar as one of the currencies. So If my product cost's 100.00 and that is a certain percentage of a bitcoin then if the bitcoin say its worth 7100.00 that would be .014 bitcoins. But if the bitcoin decreased in price say to 5100.00 then that same product would cost .019 bitcoins. Correct? How dos the fluctuation in price affect the value of my product in dollars?
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