Bitcoin is warming up

By: Robert Grosshandler | August 28, 2020

We’re fans of Bitcoin (“BTC”) and distributed ledger technologies in general. There’s a lot to like about the whole concept. For awhile, we were such fans that we rewarded people for shopping with Bitcoin. In the end, we decided we didn’t like that approach … too confusing to be rewarding you with two speculative investments — our stock AND Bitcoin.

But we kept Bitcoin around as a fulfillment mechanism. For payments, especially but not exclusively international payments, it’s darn easy to use. Instead of getting a check from us (in the mail, with all of the changes happening to the Postal Service right now), you can have us transfer your cash to Bitcoin and deposited directly into your wallet. Works well in Toledo, Ohio, works even better in Toledo, Spain.

There’s no minimum to the amount of Bitcoin you can ask us to transfer (there’s a $25 minimum before we’ll cut a check, because cutting a check costs us a lot of money to mail and then process). You can transfer any amounts that have been earned, and for which we’ve been paid (we don’t pay you until the store pays us).

We price the transfer as of the day you request us to transfer it (today, that’d be about $11,500 per BTC) and immediately start the process. For safety sake, we don’t keep a ton of BTC in our wallet, so sometimes we need to go buy it if a lot of people ask us to transfer BTC, which can make the process take several days. But usually it happens the very same day.

So, if you have cash you’d love to get in the form of Bitcoin instead of as a check, here’s an article on the whole process.

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