I don’t know what you’re saying. If I charge a particular amount for a loaf of bread and then the price drops halfway through the day then that person still has the bread but I now don’t have the money.
The whole point of currency is to get away from the fluctuating value of exchange that everyone had to deal with when we used to buy things with gold and semi-precious stones.
Vendors can immediately sell upon receipt. And prices rarely change that much in a day, usually it’s a few percent, especially for the currencies targeted at actually being currencies instead of scams.
Most vendors do frequently sell or convert to stablecoins to avoid this problem, and in times of uncertainty, they often charge more to cover the eventual losses
echodot@feddit.uk 3 weeks ago
I don’t know what you’re saying. If I charge a particular amount for a loaf of bread and then the price drops halfway through the day then that person still has the bread but I now don’t have the money.
The whole point of currency is to get away from the fluctuating value of exchange that everyone had to deal with when we used to buy things with gold and semi-precious stones.
sugar_in_your_tea@sh.itjust.works 3 weeks ago
Vendors can immediately sell upon receipt. And prices rarely change that much in a day, usually it’s a few percent, especially for the currencies targeted at actually being currencies instead of scams.
MajesticElevator@lemmy.zip 3 weeks ago
This ^
Most vendors do frequently sell or convert to stablecoins to avoid this problem, and in times of uncertainty, they often charge more to cover the eventual losses
Honytawk@feddit.nl 3 weeks ago
What is the point of using them if you are expected to switch them to an actual real fiat just to keep your value?