They accept bitcoins, they pay in local currency. Where are they acquiring their local currency? Are they:
- Selling bit coins to consumers?
- Selling bit coins on open exchanges?
- - If they are selling on open exchanges, are all the local currencies currently available? I'd guess not, so they must have currency reserves in all outbound countries?
- Paying their staff in bit coins? :-D
This would be a huge multi-national operation. Not least in running the bank accounts in outbound countries, and managing ForEx reserves and bids. Let alone dealing with money laundering laws in respective countries, commercial operations expatriating or repatriating profits/revenues, etc. etc. Not for me!
They accept bitcoins, they pay in local currency. Where are they acquiring their local currency? Are they:
- Selling bit coins to consumers?
- Selling bit coins on open exchanges?
- - If they are selling on open exchanges, are all the local currencies currently available? I'd guess not, so they must have currency reserves in all outbound countries?
- Paying their staff in bit coins? :-D
This would be a huge multi-national operation. Not least in running the bank accounts in outbound countries, and managing ForEx reserves and bids. Let alone dealing with money laundering laws in respective countries, commercial operations expatriating or repatriating profits/revenues, etc. etc. Not for me!