Any Merchants Accepting Bitcoins in Non-Bitcoin Related Industry? - page 2.

K and A Traders

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Quote from: FCTaiChi on May 14, 2013, 06:45:38 PM

Is it really that risky?
Keep an app open that tells you when the price drops more than 6%... there is one called Bitcoin Paranoid.

Do you like sleep? I like sleep.

BTCoder

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Quote from: K and A Traders on May 12, 2013, 07:47:18 PM

Quote from: BitshireHashaway on May 12, 2013, 07:42:13 PM

Bitcoins are dangerous to accept now because of how much the price fluctuates. However, I believe if more and more retailers were to accept it the price would become more stable. The best thing you can do right now is implement a system that sells all your bitcoins if they drop a certain amount, say 10%

Agree, with one exception. If he's looking to invest in BTC, selling his hot sauce for BTC is one way to go about it. In fact, he could implement a system where it would stop offering BTC as a payment method once he's reached his monthly BTC investment goal.

yep

BTCoder

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Quote from: hothothot1994 on May 12, 2013, 07:02:14 PM

Hi, I'm new to the forum and am waiting to be upgraded from newbie status so I figured I'd try to start a discussion...

My hot sauce company has just started accepting Bitcoin as a payment method (no BTC sales yet unfortunately). Any other merchants out there that can share their experience accepting Bitcoins in a non-Bitcoin (non-tech) related industry? Has it worked out well? Has it helped with marketing? Any tips? Thanks!

Thats awesome Kudos to your hot sauce company Cheesy

hothothot1994

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There are service providers that solely operate to mitigate this risk. BitPay is the one that I use which is probably the biggest. They will take any BTC purchase and either transfer it to your wallet or instantly exchange it to you local currency and deposit in your bank account. Fee is .99% which is way better than PayPal or a credit card processor.

FCTaiChi

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decentralizedhashing.com

Is it really that risky?
Keep an app open that tells you when the price drops more than 6%... there is one called Bitcoin Paranoid.

hothothot1994

newbie

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Right, as an "investor" in Bitcoin. I'd like to see more people use them in commerce. That's the only way it will ever be accepted. I need to start practicing what I preach. But with the Gox/Dwolla situation, it will be hard to get more BTC in the short term...unless anyone wants to trade BTC for hot sauce!!

Pepperot

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I think that by using bitcoins in almost every bussiness would eventually stabilize the bitcoin market as it's value would be invested in more stuff.

The Bitcoin Catalog

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The Bitcoin Catalog ---> Get Started!

Quote from: hothothot1994 on May 12, 2013, 09:18:44 PM

Quote from: The Bitcoin Catalog on May 12, 2013, 08:03:09 PM

You can check out in our catalog. Quite a few merchants accepting bitcoin without being related to the industry.

Yes, I've actually seen your catalog before...I was mainly interested in talking to/networking with these merchants on the forum.

How can I get in the catalog? Is there a cost?

There is a free pdf on our website. You can also buy the printed edition.
If you need a catalog for promotional purpose, we can send you one for free, just PM me.

hothothot1994

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BTCUMP

hothothot1994

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Quote from: The Bitcoin Catalog on May 12, 2013, 08:03:09 PM

You can check out in our catalog. Quite a few merchants accepting bitcoin without being related to the industry.

Yes, I've actually seen your catalog before...I was mainly interested in talking to/networking with these merchants on the forum.

How can I get in the catalog? Is there a cost?

hothothot1994

newbie

Activity: 36

Merit: 0

[/quote]

Yes, a link to your sauce company would be awesome.
[/quote]

Thanks for the interest. It's: www.hothothot.com

We sell many different established brands, we do not make our own sauce.

If you have any other questions regarding my business/site in particular i'd be happy to answer them.

hothothot1994

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Quote from: K and A Traders on May 12, 2013, 07:15:52 PM

The rapid fluctuations in the price of BTC make it difficult for retail operations such as yourself. One way to think about it is to ask yourself: are you willing to go to sleep each night with your revenue in BTC? How would you react to waking up and being down 10%, 20%, 50%? Would you be able to implement a stop loss system to minimize your losses? Would you cash out at the end of each day to minimize losses?

I'm also posting to find out what your hot sauce company is. I'd love to buy some. Could you compare it to something I may be familiar with?

I use a merchant account with BitPay so I can either keep the bitcoins or have them instantly exchanged and a deposit in USD made to my bank account. Otherwise you are absolutely correct and it would be a huge risk.

The Bitcoin Catalog

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The Bitcoin Catalog ---> Get Started!

You can check out in our catalog. Quite a few merchants accepting bitcoin without being related to the industry.

K and A Traders

newbie

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Quote from: BitshireHashaway on May 12, 2013, 07:42:13 PM

Bitcoins are dangerous to accept now because of how much the price fluctuates. However, I believe if more and more retailers were to accept it the price would become more stable. The best thing you can do right now is implement a system that sells all your bitcoins if they drop a certain amount, say 10%

Agree, with one exception. If he's looking to invest in BTC, selling his hot sauce for BTC is one way to go about it. In fact, he could implement a system where it would stop offering BTC as a payment method once he's reached his monthly BTC investment goal.

BitshireHashaway

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Bitcoins are dangerous to accept now because of how much the price fluctuates. However, I believe if more and more retailers were to accept it the price would become more stable. The best thing you can do right now is implement a system that sells all your bitcoins if they drop a certain amount, say 10%

kazriko

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I think many who accept bitcoin are using things like Coinbase where the money can be quickly converted to USD so they don't need to worry about the BTC price dropping.

I've actually debated buying PSN cards for people in other areas of the world using bitcoin as an exchange medium, but it's a bit on the risky side.

bennett616

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http://www.freebitcointips.co.uk/

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http://btchnsalsa.webs.com/

Andy B

K and A Traders

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I found it. Throw his sig into Google.

HOT HOT HOT - The Original Hot Sauce Superstore Since 1994

They sell all kinds of hot sauce, not one particular kind.

Welsh

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Quote from: hothothot1994 on May 12, 2013, 07:02:14 PM

Hi, I'm new to the forum and am waiting to be upgraded from newbie status so I figured I'd try to start a discussion...

My hot sauce company has just started accepting Bitcoin as a payment method (no BTC sales yet unfortunately). Any other merchants out there that can share their experience accepting Bitcoins in a non-Bitcoin (non-tech) related industry? Has it worked out well? Has it helped with marketing? Any tips? Thanks!

Yes, a link to your sauce company would be awesome.

K and A Traders

newbie

Activity: 20

Merit: 0

The rapid fluctuations in the price of BTC make it difficult for retail operations such as yourself. One way to think about it is to ask yourself: are you willing to go to sleep each night with your revenue in BTC? How would you react to waking up and being down 10%, 20%, 50%? Would you be able to implement a stop loss system to minimize your losses? Would you cash out at the end of each day to minimize losses?

I'm also posting to find out what your hot sauce company is. I'd love to buy some. Could you compare it to something I may be familiar with?

Topic: Any Merchants Accepting Bitcoins in Non-Bitcoin Related Industry? - page 2. (Read 2146 times)