| Stran v tématu: [1 2] > | Poll: Do you accept cryptocurrency as a payment method? Autor vlákna: ProZ.com Staff
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This forum topic is for the discussion of the poll question "Do you accept cryptocurrency as a payment method?".
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As far as I know the current banking system doesn't accept cryptocurrencies and neither do shops around me. Anyway, I'm not a risk-taker with my hard-earned money...
| | | | Daryo
Local time: 01:46
srbština -> angličtina
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after checking whether I can immediately convert the cryptocurrency payment into 'legacy money'.
Otherwise no.
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I cannot use cryptocurrency to pay bills or buy anything I want. Cash or a bank card work fine.
They are also the simplest if I want to give anyone a present and do not know what they have on their wish list. (My teenage relatives usually have cash on their wish list anyway, and it is never the wrong size like clothes.  )
Cryptocurrency consumes vast amounts of resources - more electricity than whol... See more I cannot use cryptocurrency to pay bills or buy anything I want. Cash or a bank card work fine.
They are also the simplest if I want to give anyone a present and do not know what they have on their wish list. (My teenage relatives usually have cash on their wish list anyway, and it is never the wrong size like clothes. )
Cryptocurrency consumes vast amounts of resources - more electricity than whole countries, and water for cooling just to start with. It is not climate-friendly.
I would not know where to acquire it, or how to reap any advanages from it, and I do not intend to find out.
Bitcoin has just been nominated by New Scientist as one of the worst ideas of the 21st century.
https://www.newscientist.com/article/2511248-the-5-worst-ideas-of-the-21st-century-and-how-they-went-wrong/
I don't follow all the advice in New Scientist, but I do think about a lot of it and draw my own conclusions.
[Edited at 2026-01-24 20:19 GMT] ▲ Collapse
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Thayenga 
Německo
Local time: 02:46
Člen (2009)
angličtina -> němčina
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Even though the exchange rate of cryptocurrency is rising almost on a daily basis, as far as I know I'm still living in a real world that requires real money. So why should I accept a currency that keeps me from paying my bills, let alone, get food on the table? Perhaps in four or five decades cryptocurrency might become the only currency accepted by all economies worldwide. But... that is no concern of mine.
[Edited at 202... See more Even though the exchange rate of cryptocurrency is rising almost on a daily basis, as far as I know I'm still living in a real world that requires real money. So why should I accept a currency that keeps me from paying my bills, let alone, get food on the table? Perhaps in four or five decades cryptocurrency might become the only currency accepted by all economies worldwide. But... that is no concern of mine.
[Edited at 2026-01-25 11:26 GMT] ▲ Collapse
| | | | Luis M. Sosa
Ekvádor
Local time: 19:46
angličtina -> španělština
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| To keep things consitent, let's start | Jan 24 |
to quote our translation rates in cryptocurrencies. Can you imagine the challenges and maybe the chaos?
[Edited at 2026-01-24 21:54 GMT]
| | | | Daryo
Local time: 01:46
srbština -> angličtina
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| Where is 'the chaos'? | Jan 25 |
Luis M. Sosa wrote:
to quote our translation rates in cryptocurrencies. Can you imagine the challenges and maybe the chaos?
[Edited at 2026-01-24 21:54 GMT]
You quote your price in the currency that is of interest to you - British Pounds in my case as I live in England. It's the buyer's problem to make any currency conversions that will result in the agreed payment. If the cryptocurrency payment can be converted at the day of payment in my price in British Pound why should I not accept it?
| | | | Zea_Mays
Itálie
Local time: 02:46
angličtina -> němčina
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Daryo wrote:
after checking whether I can immediately convert the cryptocurrency payment into 'legacy money'.
Otherwise no.
Well, if you take into account the 'conversion fees' or how they are called, you'd probabily need to hold the cryptos for some time in order to get the full amount. Currently, cryptos are at a relatively quite low, so you could wait and see them make you a billionaire...
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Daryo
Local time: 01:46
srbština -> angličtina
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[quote]Zea_Mays wrote:
Daryo wrote:
after checking whether I can immediately convert the cryptocurrency payment into 'legacy money'.
Otherwise no.
My point is in looking at a payment in crypto currency as any other payment - if the NET AMOUNT (after al kind of fees) I end up with is the price I quoted - fine.
That of course assumes that I can covert - **on the day I receive the payment** - the received amount in my quoted price in GBP.
OTOH a payment in crypto that stays in crypto? No thanks, forget it ...
If I quoted £1000 it's not my problem how much it is in dollars or euros or any crypto currency nor what are all various 'fees' involved before the quoted net amount gets to me.
| | | | Samuel Murray
Nizozemsko
Local time: 02:46
Člen (2006)
angličtina -> afrikánština
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| Luis M. Sosa
Ekvádor
Local time: 19:46
angličtina -> španělština
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| It's the buyer's problem to make any currency conversions that will result in the agreed payment. | Jan 25 |
Yes, that's true. Problem here is that we first quote, then we deliver, and in 30-45 days we receive our payment. If, in the meantime, say Bitcoin has appreciated: great, you pocket some extra money! If it does fall sharply, there is no way you can hedge your risk, and you might well end up losing a sizable chunk of your invoice due to the high level of volatility.
Bitcoin, and cryptocurrencies at large, are great inventions, of high intellectual and technological merit. I’m not o... See more Yes, that's true. Problem here is that we first quote, then we deliver, and in 30-45 days we receive our payment. If, in the meantime, say Bitcoin has appreciated: great, you pocket some extra money! If it does fall sharply, there is no way you can hedge your risk, and you might well end up losing a sizable chunk of your invoice due to the high level of volatility.
Bitcoin, and cryptocurrencies at large, are great inventions, of high intellectual and technological merit. I’m not opposed to technical progress. All I am saying is that we should try to restrict the currencies we quote in to less volatile currencies, so that we can -to some extent- hedge the currency risk.
Besides, blockchain offers a wide array of use cases to improve transparency, safety and confidence -all at once- in the financial industry (see UK Department of International Trade and The Economist Intelligence Unit - From concept to reality: How blockchain will reshape the financial services industry. September 2017).
[Edited at 2026-01-25 20:30 GMT] ▲ Collapse
| | | | Samuel Murray
Nizozemsko
Local time: 02:46
Člen (2006)
angličtina -> afrikánština
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Luis M. Sosa wrote:
Problem here is that we first quote, then we deliver, and in 30-45 days we receive our payment. If, in the meantime, say Bitcoin has appreciated...
This should not be a problem, unless you quote in Bitcoin itself. What you should do (whenever you deal with any volatile currency) is to quote in your own currency. It is up to the client to then ensure that he uses enough of his currency to fulfil the invoice in your currency. The money will be in crypto format only for a day or two (unless you don't get notified when the payment comes in).
All I am saying is that we should try to restrict the currencies we quote in to less volatile currencies, so that we can -- to some extent -- hedge the currency risk.
Exactly.
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Luis M. Sosa
Ekvádor
Local time: 19:46
angličtina -> španělština
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Let me further elaborate with one example:
Say you quoted in Bitcoin when the USD/BTC was at par (one dollar for one Bitcoin). Your invoice was for BTC 100. Say Bitcoin lost 20% of value In 45 days. You get your 100 BTC, but will not get 100 USD, you will only get 80 USD, unless you can afford to wait until de day the USD/BTC is back at par (1:1). If it's the other way around (BTC appreciates)... well Bingo!
[Edited at 2026-01-25 21:19 GMT]
| | | | Daryo
Local time: 01:46
srbština -> angličtina
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| Two different things | Jan 25 |
Luis M. Sosa wrote:
Yes, that's true. Problem here is that we first quote, then we deliver, and in 30-45 days we receive our payment. If, in the meantime, say Bitcoin has appreciated: great, you pocket some extra money! If it does fall sharply, there is no way you can hedge your risk, and you might well end up losing a sizable chunk of your invoice due to the high level of volatility.
Bitcoin, and cryptocurrencies at large, are great inventions, of high intellectual and technological merit. I’m not opposed to technical progress. All I am saying is that we should try to restrict the currencies we quote in to less volatile currencies, so that we can -to some extent- hedge the currency risk.
Besides, blockchain offers a wide array of use cases to improve transparency, safety and confidence -all at once- in the financial industry (see UK Department of International Trade and The Economist Intelligence Unit - From concept to reality: How blockchain will reshape the financial services industry. September 2017).
[Edited at 2026-01-25 20:30 GMT]
The currency in which you quote pour price and the one used for payment are not necessarily the same.
And often they are not when the buyer is from abroad: the buyer paid in a different currency and at some point that amount was converted to your quoted currency before reaching you.
In my case I will ever only quote in my local currency - end of. When it comes to payment from which currency the buyer has to make the conversion (or I can do it myself) is not my concern. I have no interest whatsoever in gambling with yo-yoing cryptocurrencies, but as purely a method of payment, why not?
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I prefer a payment in cryptocurrencies to no payment at all.
So, as long as they pay, why not?
All payments in a timely manner are always welcome.
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