Topic: Imagine being a store that accepts bitcoin

Anonymous A started this discussion 8 years ago #69,873

First, someone has to pay for the $30-50 dollar transaction fee. Even then it might take hours to process. Once it has been processed, it has lost 25% of it's value.

Anonymous B joined in and replied with this 8 years ago, 3 minutes later[^] [v] #844,408

I paid 0.55 BTC for a dinner at a restaurant in 2013. That restaurant made over $7,000 USD if they kept the coin.

Anonymous A (OP) replied with this 8 years ago, 11 minutes later, 15 minutes after the original post[^] [v] #844,419

@previous (B)
You paid over $7000 for a meal, you mean.

Anonymous B replied with this 8 years ago, 4 minutes later, 19 minutes after the original post[^] [v] #844,421

@previous (A)
No I did not pay in Dollars.

Meta joined in and replied with this 8 years ago, 21 minutes later, 40 minutes after the original post[^] [v] #844,436

@844,408 (B)
But if you had kept the coin, you'd have $7,000.

Either way it was a $7,000 dinner.

Anonymous D joined in and replied with this 8 years ago, 1 minute later, 42 minutes after the original post[^] [v] #844,439

@previous (Meta)
No, because it was relatively cheap in BTC.

Meta replied with this 8 years ago, 2 minutes later, 45 minutes after the original post[^] [v] #844,444

@previous (D)
Anon B chose eating dinner in 2013 over $7,000 in 2017. The opportunity cost of eating that dinner was $7,000.

Of course it's a bit facetious because half a Bitcoin was worth a dinner then and no one knew how it would turn out years later.

Anonymous D replied with this 8 years ago, 2 minutes later, 47 minutes after the original post[^] [v] #844,447

@previous (Meta)
7,000 is merely pennies in Bitcoins.

Meta replied with this 8 years ago, 20 minutes later, 1 hour after the original post[^] [v] #844,463

@previous (D)
7,000 pennies is 70 dollars

Minichan