A Farmer Investigating Crypto-Currency...

24Kilo

sr. member

Activity: 672

Merit: 250

Quote from: BitThink on November 22, 2013, 12:21:18 AM

Holding smaller currencies is much more riskier than holding BTC or LTC in my opinion. They could disappear in any time. Moreover, if you want fiat back, you have much less choices of reliable exchanges to sell them.

Thanks... I suppose that is why crypto-currencies are still at the fringes.

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: 24Kilo on November 21, 2013, 11:57:05 PM

Quote from: NRPatten on November 21, 2013, 11:50:47 PM

I understand that but if Bitcoin drops in price under his profit threshold he will loose money and being a small time farmer every penny counts.

I agree that Bitcoin is too volatile at the moment to really be a workable, daily currency. I am thinking that Litecoin and DigitalCoin may be better alternatives. Just a thought.

Edit - I have been monitoring most currencies by their USD value instead of BTC or LTC exchange and some of the smaller currencies are quite stable. Albeit liquidity becomes an issue then.

Holding smaller currencies is much more riskier than holding BTC or LTC in my opinion. They could disappear in any time. Moreover, if you want fiat back, you have much less choices of reliable exchanges to sell them.

24Kilo

sr. member

Activity: 672

Merit: 250

Is there a Sydney, Australia forum or meet-up for Bitcoin and crypto-currencies? I did not see a sub-forum for Australia.

Thanks!

24Kilo

sr. member

Activity: 672

Merit: 250

Quote from: NRPatten on November 21, 2013, 11:50:47 PM

I understand that but if Bitcoin drops in price under his profit threshold he will loose money and being a small time farmer every penny counts.

I agree that Bitcoin is too volatile at the moment to really be a workable, daily currency. I am thinking that Litecoin and DigitalCoin may be better alternatives. Just a thought.

Edit - I have been monitoring most currencies by their USD value instead of BTC or LTC exchange and some of the smaller currencies are quite stable. Albeit liquidity becomes an issue then.

tspacepilot

legendary

Activity: 1456

Merit: 1081

I may write code in exchange for bitcoins.

I think the other replies are on point that:

1) You should try to meet up with some other bitcoin people to talk in person
2) Mining is very difficult these days (and it's not your focus)
3) Bitpay is becoming popular as a way for non-specialists to use bitcoins.

I'd add that it'd probably be a good idea to try to find some other merchants who use bitpay or who accept bitcoins so you can talk to them about the details.

BTW, I live in a river valley with a pretty good sized community of small, diversified, organic vegetable farms. I love farmers!

NRPatten

full member

Activity: 163

Merit: 100

Quote from: BitThink on November 21, 2013, 11:44:38 PM

Quote from: NRPatten on November 21, 2013, 11:42:26 PM

Hi 24Kilo,

I don't think its a good idea for a small time farmer to risk profit with a currency that is not 100% proven or 100% stable.

If i was you i would keep it in mind for the future and keep your eye on the coin market, In my opinion Crypto-Currency is to immature for a gamble of this nature.

But hey i could be wrong.

Bitpay can exchange to the local currency for you if you prefer to.

I understand that but if Bitcoin drops in price under his profit threshold he will loose money and being a small time farmer every penny counts.

24Kilo

sr. member

Activity: 672

Merit: 250

Thanks for the warm welcome...

Mining is just a bit of fun and learning and a way to expand my computers knowledge and skills, not intended to be a money-making venture.

I appreciate the advice about the currency risk, and while I have considered your concern, I plan to limit the crypto-currency sales to less than 5% of our gross sales for the foreseeable future. But I believe that the only way to really know if these currencies will work is to try to bring them into the mainstream. And I am hoping in a small way to maybe help that by allowing a few folks to buy their farm-fresh fruit and veggies with crypto-currencies.

Nothing ventured... nothing gained!

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: NRPatten on November 21, 2013, 11:42:26 PM

Hi 24Kilo,

I don't think its a good idea for a small time farmer to risk profit with a currency that is not 100% proven or 100% stable.

If i was you i would keep it in mind for the future and keep your eye on the coin market, In my opinion Crypto-Currency is to immature for a gamble of this nature.

But hey i could be wrong.

Bitpay can exchange to the local currency for you if you prefer to.

NRPatten

full member

Activity: 163

Merit: 100

Hi 24Kilo,

I don't think its a good idea for a small time farmer to risk profit with a currency that is not 100% proven or 100% stable.

If i was you i would keep it in mind for the future and keep your eye on the coin market, In my opinion Crypto-Currency is to immature for a gamble of this nature.

But hey i could be wrong.

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: 24Kilo on November 21, 2013, 11:30:01 PM

Good day,

I am a small, organic fruit and veggie farmer located in the Southern Highlands of NSW and am considering adding crypto-currency as a possible method of payment for our produce. I am also experimenting with mining on a very small scale with the farm computers that sit idle for long periods of time. I know very little about crypto-currencies, so just learning and investigating the how this could be done and if it would be viable.

We provide regular deliveries to the Sydney basin and attend a several farmers markets in Sydney and the Highlands each weekend with our produce. The farm has been operating since 2008 and is a small operation with organic certification and a goal of sustainable food production.

If anyone is interesting helping with this project in any way, as a customer, consultant, etc, contact me via PM.

Thanks!

Edit - Apologies on the geographic vagueness... the farm is located in NSW, Australia and our primary market is Sydney, Australia.

You can consider trying Bitpay first.

dominicwin

member

Activity: 84

Merit: 10

Quote from: 24Kilo on November 21, 2013, 11:30:01 PM

Good day,

I am a small, organic fruit and veggie farmer located in the Southern Highlands of NSW and am considering adding crypto-currency as a possible method of payment for our produce. I am also experimenting with mining on a very small scale with the farm computers that sit idle for long periods of time. I know very little about crypto-currencies, so just learning and investigating the how this could be done and if it would be viable.

We provide regular deliveries to the Sydney basin and attend a several farmers markets in Sydney and the Highlands each weekend with our produce. The farm has been operating since 2008 and is a small operation with organic certification and a goal of sustainable food production.

If anyone is interesting helping with this project in any way, as a customer, consultant, etc, contact me via PM.

Thanks!

Edit - Apologies on the geographic vagueness... the farm is located in NSW, Australia and our primary market is Sydney, Australia.

Good Luck! Agreed, probably best to meet up with local bitcoiners or even a merchant already in Sydney?

24Kilo

sr. member

Activity: 672

Merit: 250

Quote from: ?? on ??

One thought: you should go to a bitcoin meetup in sydney and meet other bitcoiners

Your natural customers are in Sydney and environs

Good luck with this, I think it is a great idea

Thanks!

I did not know there was a Bitcoin meet-up in Sydney... if you can forward me the details... I will attend and present my idea and business.

MoonShadow

legendary

Activity: 1708

Merit: 1010

Mining is probably a waste of your time.

24Kilo

sr. member

Activity: 672

Merit: 250

Good day,

I am a small, organic fruit and veggie farmer located in the Southern Highlands of NSW and am considering adding crypto-currency as a possible method of payment for our produce. I am also experimenting with mining on a very small scale with the farm computers that sit idle for long periods of time. I know very little about crypto-currencies, so just learning and investigating the how this could be done and if it would be viable.

We provide regular deliveries to the Sydney basin and attend a several farmers markets in Sydney and the Highlands each weekend with our produce. The farm has been operating since 2008 and is a small operation with organic certification and a goal of sustainable food production.

If anyone is interesting helping with this project in any way, as a customer, consultant, etc, contact me via PM.

Thanks!

Edit - Apologies on the geographic vagueness... the farm is located in NSW, Australia and our primary market is Sydney, Australia.

Topic: A Farmer Investigating Crypto-Currency... (Read 799 times)