Seems like they aren't actually accepting crypto. They made a deal with a crypto exchange to act as an intermediary. A buyer pays Bitpay in crypto and Bitpay exchanges it to cash to pay Ferrari. Ferrari will never actually holds any crypto.
this post was submitted on 14 Oct 2023
49 points (81.8% liked)
News
23267 readers
3283 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
A “crypto exchange” sounds like an interesting, high-risk company. Could be hugely profitable, could tank at any moment.
There's a number of them. Some have tanked, many have been hacked and robbed.
Getting hacked is an extremely foreseeable issue. Unless the hackers were especially clever, unpredictable, or talented, I don’t have a ton of sympathy for crypto businesses that aren’t prepared.
I have some sympathy for their customers... security isn't obvious. If the crypto is gone its gone. It's not like a data leak or something.
So it's one of those stickers that early crypto mongers put in windows of stores saying that they take crypto and then taking a picture of it to make crypto seem useful.
Bitpay is basically paying Ferrari to not sue them when they claim that Ferrari accepts bitcoin.
They'll be painting a clown face on the horse before long.
Charles Leclerc is going to run out of tears, they can’t keep getting away with it
If you really want Bitcoin value to tank, buy a Ferrari with it.
Dell did this in 2014, and discontinued in 2017.
https://www.dell.com/en-us/blog/we-re-now-accepting-bitcoin-on-dell-com/