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Crypto Currency and Skiing

Uncle-A

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I received an email from Renoun skis and they are now accepting Crypto Currency to purchase their skis. What does the Community think about this? I personally would not use Crypto Currency for anything but that is just me.
 
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Philpug

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I received an email from Renoun skis and they are now accepting Crypto Currency to purchase their skis. What does the Community think about this? I personally would not use Crypto Currency for anything but that is just me.
Then don't. If they started accepting goats or other farm animals and I didn't use them, it wouldn't matter to me. The only concern would be if that was the only form of payment they would accept.
 

fatbob

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Any business accepting payment in crypto better have a live real time conversion going on or else they are in the speculation game. Even updating you crypto prices once a day leaves you exposed to people dumping on you when the coin takes a dive.

I'd suspect by taking crypto it's more of a marketing ploy which also happens to allow customers with black market/untaxed income and that the dirty work is done by a plug in which pays you in $. But there is definitely an ethical question to consider given what we know about who uses crypto.
 
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Uncle-A

Uncle-A

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Any business accepting payment in crypto better have a live real time conversion going on or else they are in the speculation game. Even updating you crypto prices once a day leaves you exposed to people dumping on you when the coin takes a dive.

I'd suspect by taking crypto it's more of a marketing ploy which also happens to allow customers with black market/untaxed income and that the dirty work is done by a plug in which pays you in $. But there is definitely an ethical question to consider given what we know about who uses crypto.
I have observed that Crypto Currency is the currency of the criminal, especially the hacker community.
 

ilovepugs

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I'd suspect by taking crypto it's more of a marketing ploy which also happens to allow customers with black market/untaxed income and that the dirty work is done by a plug in which pays you in $. But there is definitely an ethical question to consider given what we know about who uses crypto.
Ethical and environmental too, given the huge energy expenditure necessary to support the blockchain.
 

fatbob

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I just read this article last week. This guy does a better job than others in explaining the issues with crypto.

https://www.currentaffairs.org/2022...says-all-cryptocurrency-should-die-in-a-fire/
Exactly. It's an ecosystem most ordinary people are better off avoiding unless they are doing it purely as a gamble/side hustle and can afford to take the hit. At the same time they should be conscious of its impact in eco terms and in terms of facilitating small and large scale criminal enterprise. I think consumers have the right to challenge businesses promoting their crypto friendliness as its a bit more net harmful than goats even if crypto is unlikely to eat the washing from your yard.
 

Cyrus Schenck

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Crypto doesn't always have to be energy-intensive bitcoin fyi. There are plenty of other blockchain-based payment methods (i.e. 'crypto') that use far less energy than bitcoin. BTC is good for storing, not trading. Our customers who have bought using crypto have opted for a wide range of cryptocurrencies.

We update conversion real-time—USD price is fixed, much like if you use your credit card in a foreign country it converts at the conversion rate at the time of transaction. Savvy customers I'm sure will use the wild price fluctuations to their advantage (as they should!).

We're actually very late to this game, but the ski industry is typically 7-10 years behind other industries so perhaps we're early...
 

fatbob

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Why are you doing it? Want to appeal to crypto bros? Or widen the client base to those outside clean money?
 

Wilhelmson

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Could this be the end of crypto when a few people on an obscure forum mock a company for accepting btc as payment?

disclaimer, I own a whopping $144 of crypto. Trade for some baby formula for my nephew?
 

Tricia

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Crypto doesn't always have to be energy-intensive bitcoin fyi. There are plenty of other blockchain-based payment methods (i.e. 'crypto') that use far less energy than bitcoin. BTC is good for storing, not trading. Our customers who have bought using crypto have opted for a wide range of cryptocurrencies.

We update conversion real-time—USD price is fixed, much like if you use your credit card in a foreign country it converts at the conversion rate at the time of transaction. Savvy customers I'm sure will use the wild price fluctuations to their advantage (as they should!).

We're actually very late to this game, but the ski industry is typically 7-10 years behind other industries so perhaps we're early...
Well, @Cyrus Schenck, one thing has been clear from the first time we met you...
You are willing to think outside the box.
This will be interesting to follow.

Now about Scott's suggestion...
If they start accepting broken dreams and heartache I'll finally be able to build a ski quiver! :roflmao:
 

Yo Momma

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At minimum learn the ecosystems. Crypto and Blockchain based finance is coming ( Groups like FTX US are the latest incarnation of the paradigm and taking finance in new directions) and if you're not at least familiar w/ how it all works, you'll be behind the game as far as financial markets are concerned. Investment brokers have opened Crypto accounts in droves........ for THEIR OWN $$$$....

I consider my crypto "Tuition" for learning during this current phase as the SEC pushes it into it's regulatory infancy.

I will say that transactions are CRAZY EASY!... but caveat emptor!
 

Yo Momma

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Crypto doesn't always have to be energy-intensive bitcoin fyi. There are plenty of other blockchain-based payment methods (i.e. 'crypto') that use far less energy than bitcoin.

We're actually very late to this game, but the ski industry is typically 7-10 years behind other industries so perhaps we're early...
Exactly! :beercheer: Google "Proof of Stake".......vs "Proof of Work". If more of us choose to go w/ the POS framework, the electrical concerns become more in line w/ traditional finance usage and you get to "have a say" in which system you support! Learning this stuff has been like learning to ski! FUN!
 

Wilhelmson

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I mean Yo Mamma is smarter than most of us. But seeing his gear reviews I don’t think a little devaluation will cramp his style.
 

Yo Momma

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I mean Yo Mamma is smarter than most of us. But seeing his gear reviews I don’t think a little devaluation will cramp his style.
....... maybe more like High Risk Tolerance = "Dumber"!?!? ... just like most that are recent to it, I've actually lost $$$ in crypto! :nono: but all good in the name of "Learning"
The key word to learn is "HODL" and don't play w/ more than you are willing to lose! :beercheer::crossfingers:

Just to keep up appearances here is my new Bogner jckt!!!!!!! ROFLMAO....... Okay...... I confess... It was a "hand me down" from an ex Bogner employee up here in VT!!! Rockn' w/ the PJ's!!
 

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