Are we the first freight forwarder to accept bitcoin

GiganticDays

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Quote from: jdbtracker on December 06, 2013, 12:57:28 PM

Make sure to hold at least some of your Bitcoin, it will provide unexpected income when you need it to expand. When it's high, sell your BTC for fiat to expand your business, when it's low, find suppliers that are willing to accept Bitcoin or help your current suppliers use Bitpay until they feel comfortable holding some themselves, It'll increase capitalization and growth of the currency in your favour.

That's the plan.

jdbtracker

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Make sure to hold at least some of your Bitcoin, it will provide unexpected income when you need it to expand. When it's high, sell your BTC for fiat to expand your business, when it's low, find suppliers that are willing to accept Bitcoin or help your current suppliers use Bitpay until they feel comfortable holding some themselves, It'll increase capitalization and growth of the currency in your favour.

Carlton Banks

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Quote from: GiganticDays on December 06, 2013, 11:58:49 AM

Quote from: Carlton Banks on December 06, 2013, 11:49:16 AM

It's the first I'm aware of. Doesn't mean some haven't been doing it unannounced, though.

Have you got a policy for how you account for big exchange rate swings? The expectation is that the swings will lessen with time, but we're definitely still in ski-jump slope territory now in 2013.

To be honest we're not expecting a huge amount of Bitcoin-paid business as we don't handle personal effects, but it's our intention to hold funds in Bitcoin rather than exchange for fiat. If trade volumes are significant we'll need a different strategy since none of our suppliers currently accept Bitcoin. In that case we'll probably use Bitpay.

That's an interesting strategy to start with. I hope that in the event of picking up more BTC trade than you're expecting, you'll consider persuading suppliers to accept too. Who knows what the economic landscape will look like to everyone by the time that happens...

There are hints that Cyprus style bail-ins may happen across the OECD nations. Your little Bitcoin hedge will see you well in those circumstances. A (formerly) Cyprus based businessman is here on Bitcointalk frequently, his business account had 700,000 euros frozen from use. Then one day, the frozen funds weren't even indicated in his account anymore, as if the money had never existed! That kin of thing might start changing the minds of people you do business with in your industry's ecosystem.

GiganticDays

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Quote from: Carlton Banks on December 06, 2013, 11:49:16 AM

It's the first I'm aware of. Doesn't mean some haven't been doing it unannounced, though.

Have you got a policy for how you account for big exchange rate swings? The expectation is that the swings will lessen with time, but we're definitely still in ski-jump slope territory now in 2013.

To be honest we're not expecting a huge amount of Bitcoin-paid business as we don't handle personal effects, but it's our intention to hold funds in Bitcoin rather than exchange for fiat. If trade volumes are significant we'll need a different strategy since none of our suppliers currently accept Bitcoin. In that case we'll probably use Bitpay.

GiganticDays

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Quote from: jdbtracker on December 06, 2013, 11:48:17 AM

You are the first! Now where do you ship? How can we procure your services?

We ship worldwide (mainly from UK). You may procure our Services by using the contact form on the website (link in op).

Carlton Banks

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It's the first I'm aware of. Doesn't mean some haven't been doing it unannounced, though.

It's a great industry to accept Bitcoin for, you guys must frequently deal with different currencies, so something that's universal pretty much everywhere makes real sense. This will let you maybe take on work to riskier places too, as I'm willing to bet that even places not considered high risk can have problems with card chargebacks frauds. Not forgetting the places where people can't get credit cards, or just to people who can afford to pay, but don't have or don't want credit card accounts.

Have you got a policy for how you account for big exchange rate swings? The expectation is that the swings will lessen with time, but we're definitely still in ski-jump slope territory now in 2013.

jdbtracker

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You are the first! Now where do you ship? How can we procure your services?

GiganticDays

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My forwarding company http://www.phoenix-transport.com is now accepting Bitcoin as payment.
I know this sounds like a plug, but I'm genuinely interested to know if we're the first (either in the world or the UK).

Topic: Are we the first freight forwarder to accept bitcoin (Read 1892 times)