09-05-2021, 09:46 AM
We have investigated accepting crypto payment before, but kinda came to the conclusion that it's more trouble than its worth. Two reasons:
1. Pine64 runs very lean on cash reserves, yet still needs to be able to pay suppliers and factories. When a user buys a product, the currency from that sale needs to be usable ASAP. The suppliers/factories do not accept crypto (likely never will), and a reliable way to immediately transfer crypto to fiat currency doesn't seem to be a thing.
2. Volatility. I'm not talking about the currencies themselves (though that is a concern). I'm talking about the communities surrounding them. When we put out our polls for if people would use a crypto payment option, what we saw was a large amount of people arguing over which coins we should accept (primarily BTC, Monero, and Eth), and good and which are bad. Let's just say those conversations weren't exactly civil. We're not interested in getting mixed up in that mess.
This isn't to say that we never will accept crypto, but to make it practical Pine would have to change its operating methods, or the crypto markets will have to be more mature and practical.
1. Pine64 runs very lean on cash reserves, yet still needs to be able to pay suppliers and factories. When a user buys a product, the currency from that sale needs to be usable ASAP. The suppliers/factories do not accept crypto (likely never will), and a reliable way to immediately transfer crypto to fiat currency doesn't seem to be a thing.
2. Volatility. I'm not talking about the currencies themselves (though that is a concern). I'm talking about the communities surrounding them. When we put out our polls for if people would use a crypto payment option, what we saw was a large amount of people arguing over which coins we should accept (primarily BTC, Monero, and Eth), and good and which are bad. Let's just say those conversations weren't exactly civil. We're not interested in getting mixed up in that mess.
This isn't to say that we never will accept crypto, but to make it practical Pine would have to change its operating methods, or the crypto markets will have to be more mature and practical.
Community administrator and sysadmin for PINE64
(Translation: If something breaks on the website, forum, or chat network, I'm a good person to yell at about it)
(Translation: If something breaks on the website, forum, or chat network, I'm a good person to yell at about it)