A Texas Gun Company allows Customers to use Bitcoins for Payments

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A Texas Gun Company allows its Customers to use Bitcoins for PaymentsA Texas gun company has revealed that it has sent up a mechanism to allow its customers to use bitcoins to pay for its products, which boasts a range of rifles that it claims can hit target located very far using “jet fighter lock-and-launch technology”.

While bitcoin is a virtual currency that offers users anonymity, buyers of TrackingPoint’s products will have to undergo background checks before they are allowed to buy any firearms, said the company’s Vice President Oren Schauble. The Austin firm has partnered with bitcoin payments processor Coinvoice to facilitate the transactions.

“The recent advent and success of cryptocurrency has the potential to redefine our monetary system,” TrackingPoint CEO John Lupher in a press release according to Fox News.

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The company’s rifles start at $9,995, which equals about 22 bitcoins, calculated using the current exchange rates. TrackingPoint says it rifles-which can hit targets located 1,000 yards away-tag the objects using laser dots and then “estimates the exact firing solution taking into account range, wind, target velocity, shot angle, barometric pressure, rifle cant, temperature and other factors”

The firm is a small-volume manufacturer, and customers tell the salespersons their desired product and specifications. Therefore, TrackingPoint can smoothly incorporate bitcoin as one of its payment modes.

“I’m anticipating a handful of transactions to start and us being able to refine the system as we go,” said Schauble, responding to a question by Ars Technica on how many guns the company expects to sell using this platform.

Schauble also revealed that he is exploring how to create a price guarantee to shield customers from fluctuations in the value of the volatile digital currency.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com