Crypto Currency and Skiing

Uncle-A

In the words of Paul Simon "You can call me Al"
Skier
Joined
Dec 22, 2015
Posts
8,329
Location
NJ
Cryptocurrency-and-Skiing-SkiTalk.jpg


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.
 
Last edited by a moderator:

Philpug

Notorious P.U.G.
Admin
SkiTalk Tester
Joined
Nov 1, 2015
Posts
34,685
Location
Reno, eNVy
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

Not responding
Skier
Joined
Nov 12, 2015
Posts
4,497
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.
 
Thread Starter
TS
Uncle-A

Uncle-A

In the words of Paul Simon "You can call me Al"
Skier
Joined
Dec 22, 2015
Posts
8,329
Location
NJ
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

The human form of the 100 emoji
Skier
Joined
Sep 17, 2018
Posts
150
Location
A cozy corner of Vermont
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

Not responding
Skier
Joined
Nov 12, 2015
Posts
4,497
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

Founder of Renoun Skis
Manufacturer
SkiTalk Sponsor
Joined
Feb 16, 2016
Posts
109
Location
Burlington, VT
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...
 

Cyrus Schenck

Founder of Renoun Skis
Manufacturer
SkiTalk Sponsor
Joined
Feb 16, 2016
Posts
109
Location
Burlington, VT
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.
correct.
 

fatbob

Not responding
Skier
Joined
Nov 12, 2015
Posts
4,497
Why are you doing it? Want to appeal to crypto bros? Or widen the client base to those outside clean money?
 

Wilhelmson

Out on the slopes
Skier
Joined
May 2, 2017
Posts
3,259
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

The Velvet Hammer
Admin
SkiTalk Tester
Joined
Nov 1, 2015
Posts
22,362
Location
Tahoe
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

Out on the slopes
Skier
Joined
Mar 29, 2016
Posts
1,162
Location
NEK Vermont
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

Out on the slopes
Skier
Joined
Mar 29, 2016
Posts
1,162
Location
NEK Vermont
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!
 

Yo Momma

Out on the slopes
Skier
Joined
Mar 29, 2016
Posts
1,162
Location
NEK Vermont
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!!
 

Attachments

  • PXL_20220424_182126968.MP.jpg
    PXL_20220424_182126968.MP.jpg
    237.7 KB · Views: 376
Last edited:

Sponsor

Top