Tuesday, March 18, 2014

An Example of Receiving Business Bitcoin Payments

Reddit user "Leeburg" has a storefront which deals in smartphones, computers, and all order of electronic gadgets wanted by people all over the world. He's able to serve these people by taking business Bitcoin payments is a geographically global digital currency.

Rather than get a bank involved in converting obscure currencies, he simply waits for confirmation that a customer's payment has arrived at the appropriate Bitcoin wallet. At that point, it can convert to U.S. dollars or do whatever else it would like with the Bitcoins — the payment's arrived and the irreversible nature of Bitcoin transactions means it's here to stay.
Here's nine months worth of orders mapped out destinations:
Screen Shot 2014 03 18 at 9.25.21 AM

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