(Replying to PARENT post)

Using a payment processor like BitPay would allow this. Essentially you click to pay in bitcoin, you redirect to the BitPay site, you pay them bitcoin and they transfer the USD value to the recipient (in this case the state).

So an individual could pay $10k in bitcoin and the state would receive $10k in USD. BitPay currently offer their service for free that would meet these requirements.

https://bitpay.com/pricing

so to answer your question instantly means instantly.

👤celticninja🕑10y🔼0🗨️0

(Replying to PARENT post)

So who is giving BitPay cash for the coins instantly? Are there literally buys just chomping at the bit, even when the market is in a downward trend, to buy coins from BitPay, for cash, instantly after they put them up for sale? At some point the piper has to be paid, and if it isn't a large financial institution, I'm still not seeing how this plays out. There has to be someone to soak up the massive loss in value...

As far as I can tell, BitPay has less than $100 million in investment, I don't see how that even comes close to covering the risk.

👤tw04🕑10y🔼0🗨️0

(Replying to PARENT post)

Ah. I misconstrued the comment to mean the conversion would happen upon some massive fluctuation. Thanks for the clarification.
👤JoeAltmaier🕑10y🔼0🗨️0