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by jarek
4189 days ago
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A possible, though minor hack with this arrangement would be: - You have 0.1 BTC and wish to protect against BTC value loss vs USD
- You make a payment to your own Stripe account of 0.1 BTC, say 10 USD
- After BTCUSD falls, you refund the payment
- You receive 10 USD, say 0.2 BTC
- End result: you can keep your Bitcoin constant at 10 USD, redeemable into BTC whenever you make the refund request Of course it would be just as easy to keep the money in USD/your stable currency of choice in the first place and convert when you want BTC; and Stripe won't lose more than BTC conversion fees (unless Stripe decide to hold BTC as a corporation). Out of curiosity, do you have a time limit for refunds? |
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