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A comment on Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000. Parent comment

Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000 by robryan on Saturday December 23, 2017 @05:59AM (#15993751)
At the current volatility how can businesses be expected to take on the risk of accepting bitcoin? None of their costs would be in bitcoin so they would have to be constantly moving their bitcoin to fiat currency and taking a risk on wild daily swings.
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Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000 by tom_mellior on Saturday December 23, 2017 @06:08AM (#15993770)
Businesses accepting Bitcoin typically do it via third-party payment processors. The intermediate takes a cut, shields the vendor from the risks, and pays an agreed price in fiat.

The system has been in place for years, and it works reasonably well. More competition would still help. And yes, a better network and better systems to cut out the intermediary would help even more.

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Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000 by StavrosK on Saturday December 23, 2017 @06:15AM (#15993789)
The problem with that now, and the reason why Steam stopped accepting Bitcoin, is that the peg expires by the time the transaction comes in, which can take hours.
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