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RE: 🗞 Daily Crypto News, December 13th💰

in #bitcoin • 6 years ago

Chinese Whale Buys Fleet of F1 Cars Worth £4 Million with Litecoin
Read more & Source: https://news.bitcoin.com/chinese-whale-buys-fleet-of-f1-cars-worth-4-million-with-litecoin/

I am a bit concerned about this. Merchant that accept payment in bitcoin immediatly convert it in fiat value via exchange to protect themselves from devaluation risk.
So, maybe, unhappen payment will arrive, we will see a dump moment in LTC market..

6 years ago in #bitcoin by
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     6 years ago 

    Yup but if they convert instantly they minimize the risk.

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       6 years ago 

      I am not sure. If they convert instantly, they can blow up a lot of buy orders on the book, triggering a small drop in price.
      It depends all from how theyr payment service provider manages crypto influx. They istantly convert.. Or they divide big orders into a lot of small orders?

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