Accepting Bitcoin - page 3. | Bitcointalksearch.org

UchihaSarada

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Quote from: Ayers on July 08, 2023, 03:29:10 AM

Furthermore, if his family's living expenses depended on the sales of the tailor shop, I don't think his mother would accept that offer. There are many ways to earn bitcoin, and I also think OP should focus on ways like we are doing rather than giving advice to his mother.

Accepting that offer is not bad but it is how deep that tailor shop treasury is. Because it should be considered as an investment by using part of the tailor shop income to store it in bitcoin. I am sure not all customers of the tailor shop will use bitcoin for their payment.

OP must plan to not touch these bitcoin too often because each time, it will cost transaction fee so reducing times to move bitcoins is better.

Ayers

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Quote from: wxa7115 on July 08, 2023, 03:01:46 AM

Quote from: CryptoHeadlineNews on July 08, 2023, 02:10:13 AM

Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

To make much profit of a Bitcoin investment, it's always advisable that someone invest for a long term, and I don't see money paid for tailoring service as that much that she will likely want to keep for long term when family needs may arises, but moreover, if you are able to convince her to investing in Bitcoin, that will be a very nice try, but that's after you have been able to tell her how Bitcoin works and the risks involved in, and yet she is still willing to give it a try.

The issue is that if we are being realistic about this unless the place where this tailor shop is located is full of bitcoin enthusiasts then the amount of bitcoin they will be able to get this way is minimal, and that is the best possible scenario.

So the OP needs to concentrate on getting bitcoin like most of us, which is to use their fiat currency to buy some bitcoin whenever they have the chance, however if the laws where they live are as harsh as we imagine then it maybe a better idea to wait until things change.

Furthermore, if his family's living expenses depended on the sales of the tailor shop, I don't think his mother would accept that offer. There are many ways to earn bitcoin, and I also think OP should focus on ways like we are doing rather than giving advice to his mother.

OP, I find your reason invalid, if you already know the value of your country's currency is depreciating daily, then you should see a way to invest in bitcoin, not a reason you can't invest in it. I see you haven't put much effort into investing in bitcoin, and you're looking to use your mom's money rather than find a way on your own.

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Quote from: CryptoHeadlineNews on July 08, 2023, 02:10:13 AM

Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

To make much profit of a Bitcoin investment, it's always advisable that someone invest for a long term, and I don't see money paid for tailoring service as that much that she will likely want to keep for long term when family needs may arises, but moreover, if you are able to convince her to investing in Bitcoin, that will be a very nice try, but that's after you have been able to tell her how Bitcoin works and the risks involved in, and yet she is still willing to give it a try.

The issue is that if we are being realistic about this unless the place where this tailor shop is located is full of bitcoin enthusiasts then the amount of bitcoin they will be able to get this way is minimal, and that is the best possible scenario.

So the OP needs to concentrate on getting bitcoin like most of us, which is to use their fiat currency to buy some bitcoin whenever they have the chance, however if the laws where they live are as harsh as we imagine then it maybe a better idea to wait until things change.

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

The first thing to do is to keep your mom aware of the risk. You perhaps convince your mom but If I were you, I don't force her to decide about accepting Bitcoin if that is not yet totally legal in your country. I see your desire for it and offering another payment option to your clients, however, in a situation that you have, I will tell you that it was best to just hold and focus on investing as it was safer than accepting it as payment. Unless your mom agreed and has also the courage to take the risk and understand the volatility of the price.

CryptoHeadlineNews

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

To make much profit of a Bitcoin investment, it's always advisable that someone invest for a long term, and I don't see money paid for tailoring service as that much that she will likely want to keep for long term when family needs may arises, but moreover, if you are able to convince her to investing in Bitcoin, that will be a very nice try, but that's after you have been able to tell her how Bitcoin works and the risks involved in, and yet she is still willing to give it a try.

KiaKia

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Your plan is not very clear, your mother is the owner of the business right! So she is going to sew clothes for her customer and you will be the one the customers will pay in Bitcoin? What about your mother? The one that sews the clothes? Are you the one keeping her money for her? Do you understand that the value of Bitcoin can go way down because of high volatility?

It's easier for you to understand that Bitcoin is a valuable currency but what about your mother? Imagine keeping her hard earned money in Bitcoin and the value goes down when she need the money?

It's better to let her know about the risk involved first, it's even better if she will start learning about bitcoin herself, don't be the one to force her into this, because it could back fire at you, if you want Bitcoin buy it with your own money, if you want to accept Bitcoin in business make sure the business if yours, the difference is you understand the risk.

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Since you are a newbie you must have maximum understanding about Bitcoin. You must know what Bitcoin actually is,where it originated from etc. You can't do everything in a hurry. You said Bitcoin is not supported by the government in your country, so how can you invest in Bitcoin. Do Still you telling your mother about Bitcoin is very good but it remains to be seen how your mother will take it. I guess people of previous era will take it differently. You have taken the initiative to use Bitcoin in your mother's tailor shop but how will your country's government take it? You can hold Bitcoin because it can make you a lot of profit in future.

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Bitcoin acceptance is always welcoming, because more the acceptance more will be the spreading about bitcoin. When more spread happens automatically people will continue to explore and understand better about bitcoin. Whenever one starts accepting bitcoin, he/she should have the ability to hold it rather than just cashing out to meet our needs. Also one should not expect the business acceptance to be good all of the sudden. The awareness about bitcoin acceptance is very low and for the reason it takes more time for better business to take place through bitcoin acceptance.

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Hodling your Bitcoin is the best thing you can do with your investment. You can never trust anything that claims you can earn yield by giving them custody of your BTC. Celsius is one of the most notorious examples of what can happen if you don't hold your private keys.

Accepting Bitcoin in a business that you own yourself would be a great idea, but getting someone else who doesn't understand it to accept it for you seems coercive and I would not feel comfortable making that suggestion until I was sure my mother had a sufficient understanding of how Bitcoin works. If you are an employee at your mom's shop or anywhere else then you are free to do whatever you want with your income, investing in BTC being a reasonable option.

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Quote from: Fuso.hp on July 07, 2023, 04:19:57 AM

Quote from: bayu7adi on July 06, 2023, 09:20:59 PM

Does your mother understand Bitcoin? Is she not afraid of Bitcoin's volatility?

Since Opie knows about Bitcoin payments and since he will be controlling the Bitcoin payment system, I think his mother will be fine even if he doesn't know about it. But since the OP said that their country's government is not very positive towards Bitcoin, we can initially assume that Bitcoin is not legal in their country. The OP has clearly not said anything here about their country's Bitcoin status. However, if Bitcoin is a legal currency in your country, you can choose Bitcoin as your alternative payment method. Before starting the Bitcoin payment system, discuss it with all the customers of your tailors, if more than fifty percent of the customers support you, you can take this decision.

The problem in this case I think is not from the issue of whether bitcoin can be used as an alternative for the mother of the OP in her sewing business or not but looking at another sentence where there is a word the government is not very supportive of bitcoin this could also mean that the government in the country where the OP lives is still something difficult for bitcoin and could be banned. we don't know for sure about this because the OP still hasn't provided further information but when it's not very supportive it can be interpreted as one of the conditions where their government is still closed to bitcoin then making payments with bitcoin as an alternative is certainly illegal there and we know what the penalty is when doing something illegal.
It doesn't matter indeed using bitcoin as a payment option but of course we also have to look at the regulations and what the government is doing in this case so that our desires and ambitions are actually like fighting government policies.

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Not much support means leading to a ban. Is it true?
If it's true that your country doesn't support Bitcoin, don't force Bitcoin to be accepted as payment for businesses.
You can still do Bitcoin activity if you wish to continue using Bitcoin as an investment as long as the internet network can still be accessed as usual.

The value of your country's currency with my country and the countries of other friends is not the same, but it doesn't affect those of us who want to buy Bitcoin.

P.S. don't be because of your desire to get Bitcoin trying to convince your mother so that it can have a negative effect on Bitcoin [more people are wrong in judging Bitcoin just because of your mistake].

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

you have great initiative, but if you do it on your own business. even though it is your mother's business, but with the regulatory conditions in your country as you mentioned, I don't think it will be good for your mother's business either. because I'm sure the people who use the services of your mother's business will not think too much about Bitcoin.
even if it's only as an alternative payment other than your fiat. I'm not sure it will affect the Bitcoin usage of your mother's customers.

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There is nothing to fear if you already have an idea to invest in bitcoin. Although many people believe that bitcoin can be a very risky investment for newbies, But if you don't try, how will you know? We were also worried like you when we didn't know if it was really good or not. But at that time, bitcoin was not known to everyone, but we still dared to invest in it. And now I think it's the right choice for me. So give it a try, because it's never too late for bitcoin. Also, about trying to convince your mom to invest in bitcoin, I don't think it's worth it because forcing will only make your mother more suspicious, so don't try to do that but let her see for herself. when you invest in bitcoin.

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I have a hunch that you're living in a third-world country, in which case I'd say that forcing your mom to integrate bitcoin payments in her tailoring shop would be a hit or miss since not a lot of people to begin with will go out of their own way to use bitcoin for payments unless you incorporate some sort of discount deal on special items if they used bitcoin for paying. Another would be if you guys are living in a tourist spot which in that case there's a high chance people will readily have bitcoin to use for payment.

If you guys aren't up for the first option, or you don't live in a tourist spot as with the second condition, I'd suggest you stick with conventional payment methods and just involve yourself with bitcoin information campaigns that are available in your country, that way you don't hurt your mom's business.

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Does your country has a restriction with the cryptocurrency if there's nothing you can freely safe to operate with your cryptocuttrncy and additional with your business. As we're saying that your country has a low GDP seems like the bitcoin is not yet introduce at your country or not part of prioritization they will keep ignoring the bitcoin. People will not adopt unless they will get benefit on it. On that case even you want to get to know more about bitcoin if the people in the community don't want to agree or support this it's just a waste of time.

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Quote from: icalical on July 07, 2023, 06:27:27 AM

Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I don't know how old are you, but if you are old enough and you have ID card, then you can buy Bitcoin from various centralized exchange, it's very easy. Even if you don't have ID there are some decentralized exchange, that don't required KYC. About Your advice for your mother to accept bitcoin for payment, I think is a bit difficult, I believe only small amount of his customer have Bitcoin.

For sure, he is underage, as he is still convincing his mom, meaning he is still living on her roof. So no matter if he got convinced by his mom that either they will accept or buy on exchanges using the ID of his mom, it is still not possible as their government doesn't support this as he stated, and also for sure they are earning low, which only allows them to buy Bitcoin in small amounts. Regarding accepting Bitcoin in their tailoring shop, I'm not sure if they can endure the fees on Bitcoin, as most of their transactions are small and not worth the fee.

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

From beginning you are buying bitcoin it is good news. Because Bitcoin is best cryptocurrency. I think if anyone buy bitcoin in right time and cheap price he will be must profitable. Bitcoin price now also cheap if anyone invest now on bitcoin he will be profited within short time.

And your Mom's tailoring shop accepting Bitcoin it is very good news but in your country Bitcoin is not legal so your mom should avoid this payment system i think. Became Your Government not supporting so when she receive Bitcoin as payment there will create many problem i think. So it will be better to avoid get bitcoin as payment.

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OP, personally, for me, I will suggest you start your own business and accept Bitcoin payments there. What are you doing for your mom's business? her manager? This is your mom's business, and she is not even enlightened about Bitcoin. If she's the type of person who always needs to spend their money for their business related stuffs, I think she might not find it very easy to always convert the Bitcoin she receives into fiat.

Although you said you would be buying the Bitcoin she receives, my question is: if you have bought enough Bitcoin through that means and there is not enough money for you to keep buying again, does that mean you would ask your mom to pause for some time?

What's really so difficult about investing in Bitcoin in your country? because definitely those people who will be paying your mom with Bitcoin are living in the same country as you, and they succeeded in investing in Bitcoin.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

icalical

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Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I don't know how old are you, but if you are old enough and you have ID card, then you can buy Bitcoin from various centralized exchange, it's very easy. Even if you don't have ID there are some decentralized exchange, that don't required KYC. About Your advice for your mother to accept bitcoin for payment, I think is a bit difficult, I believe only small amount of his customer have Bitcoin.

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Quote from: Nwada001 on July 07, 2023, 04:11:26 AM

Quote from: Mia Chloe on July 06, 2023, 11:41:32 AM

I would appreciate any advice on this my move

You intended to convince your mom to start accepting Bitcoin in her tailoring shop? It might sound like a good idea, but to me, it is actually not one.
First, the business is not yours; accepting Bitcoin in a business is in the owner's best interest if the owner of the business is the one who wants to start accepting it, so full responsibility will be on the owner. If there is anything negative that comes after, no one will be to blame.

You convincing your mother into accepting Bitcoin in her tailoring shop means you are going to assure her about the only positive things it comes with without letting her know about price movement or how to manage her wallet. If she happens to agree to your idea and start accepting Bitcoin as a payment option, what do you think will happen if she wants to make use of her funds, which are in Bitcoin, and as of the time she wants to use them, the Bitcoin price is down? She will have to hold you responsible for misleading her into doing something she never planned on doing.

To me, it will be good if you could just tell her what Bitcoin is, how it works, the little benefits it comes with, and the risks involved, and then allow her to make her own choice if she wants to start using it in her daily life or not. That should be a choice she needs to make on her own.

Instead, OP tries to convince his mom to accept bitcoin for the tailor shop. Why not think about bitcoin education and convince her to invest in bitcoin? In a country where bitcoin is not popular and can be banned anytime, it is not a good idea to use it for payment. Moreover, it is unlikely that it has brought any greater benefits to the shop.

OP, I don't know how old you are, but why don't you make your own money and invest in bitcoin? Why are you using your mother's money to invest? Whether it's your mother's money or your wife's money, you should build your own investment instead of advising others to invest. I mean just because you like bitcoin doesn't mean your mom will like to invest in bitcoin too.

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