Topic: Bitcoin investment is kind - page 2. (Read 784 times)

Wow, that's great, buddy. Everyone will want to follow your lead because you have a well-thought-out plan and demonstrate that in addition to conducting business, you will also find a way to make your company better. Taking bitcoin as payment in your business is also a smart move because, should you decide to invest in bitcoin, you won't have to go back and buy it; as long as your country permits it, you are free to do so. Furthermore, even though you are aware that the price of bitcoin can fluctuate at any time, you shouldn't panic and, in my opinion, you will make a significant profit.

I think that soon all countries will accept bitcoin because I have seen some that I had thought would not allow it, but have now decided to do so. If bitcoin is accepted everywhere, even investors and those who are unaware of it will be inclined to invest in it, making bitcoin one of the best investments available anywhere in the world in the near future.

It's up to people whether they want to make payments using bitcoin or not and it has nothing to do with how they decide on that desire. The question is whether bitcoin is legal for payment processing in your country and whether the understanding of the people around you about bitcoin is strong enough to contain positive value. If you are not able to convince buyers of this, customers will try to find other places to shop and in the end Bitcoin will not be something that can change your life.

In a general context Bitcoin looks quite perfect as an investment step, but not all places are suitable for use as a means of payment. This is where we need to understand the conditions, not try to force something perfect to become more complicated. Pay attention first to whether using payments in bitcoin can benefit your business, if not why force it?

Have not you consider about the transaction fees nowadays? because if does then you should
know that the business will hardly operate if you are even charge higher than the amount you needed to send or receive ?

Hard to accept now but this is the problem using bitcoin in such time , when there are congestion
everything is affected and most specially to mention about sending and receiving so try to look again in your business plans
because you might get hurt about  the fees.

I agree with you. In fact, here we always support the idea of using bitcoin as a payment method, but we ourselves would not use bitcoin for payment even if we came across a store that accepted bitcoin. This is a reality that many people are in denial about because we all want to accumulate as many bitcoins as possible. No one will spend bitcoin when everyone knows about its potential and more specifically, the new bull season is coming closer than ever.

Honestly, it would be embarrassing to say outright that I support ideas like the OP's but I also wouldn't use bitcoin to make purchases. It's really a waste of bitcoin when we can do it with fiat.

Even if LN is really that been used, i do have doubts that people would really be actively spending their coins on buying up something. Why? they do know that profit chances and gains could really be that
possible on just simply holding it for long term on which this is something that we cant really be able to deny yet we've seen on how far it did been able to reach up. Yes, its great that it would really be seen
into those payment options but i do highly doubt that people would really be that actively be using their coins on which on buying up something because as much as possible they would really be
accumulating it as much as they can. Even myself would definitely be doing this since we know about its potential..

You cant really just that afford yourself on spending into those coins if you do know that you can earn more money on just simply holding it for more years to come.
It is really just that a waste if you do just basically be using it on something which you can actually do it on using fiat or other possible methods or common ways.
Its not really that worth and this is something that mainly you do have in mind.

Yeah high fees truly hinders our plans on using Bitcoin as payment method that is why some businesses are hesitant to accept Bitcoin payment. I think the best thing to do right now is wait for the opportunity.

Yes I agree with your decision. But one thing that bothers me is that January 16th is very close. Will the traffic be reduced in such a short time? There are fears about this. You're going to increase usage by reducing customer transaction fees. But the market is not always the same. You should be aware that the price of any product is not stable.

I have ever known Bitcoin as one of the best investment means of the 21st century and has helped further in cross-border payments and even intradealers' arrangements that are making payment settlements easy for people. I have seen people giving the best testimonies of it and the transaction fee is still low even with this congestion compared to other means of old payments like the use of Western Union and Bank wire transfer and others. This makes me appreciate Bitcoin so much as there is nothing you can use fiat to do that it will not do or at least try to do.

About your plan, well, it is a very good one, and I hope one day too, I can move further in my usage of Bitcoin and create a business around it. But be sure that you understand the nitty-gritty of what you are about to do, you must know the feasibility of your customer accepting it, the risk involved due to the volatility of Bitcoin and the best gateway you use for it so that it will not be a discouragement for your customer's and intending ones.

Above all, for now, Bitcoin's new network is not just encouraging and businesses are moving away from it (for transactions, and not investments). Many companies mailed me late last year about their low preference for Bitcoin transactions due to how the fees are high and their customers are complaining. So if reputable companies that have used Bitcoin for over a decade could be complaining now, you might want to think through accepting it at this time for the sake of the businesses and that of your customers. This, of course, unless they can be using intra-payment options with the same exchange as yours that charges no fee.

But from what I see, Lightning Network is still not popular and widely used even among veteran investors like us, let alone newbies. The idea of accepting bitcoin as a payment method is becoming a challenge as bitcoin transaction fees are getting higher and higher. I think if OP wants to invest and hold bitcoins, it would be much better if he bought them directly with fiat instead of just accumulating them through the route of using bitcoins as payment for his store.

I would also advise the same, use Bitcoin Lightning Network for instant payments plus lower transaction fees compared to what we experienced using Blockchain transactions. That way, users will feel more convenient to pay bitcoin.

However, having discounts is a good option but it should also be limited. Let’s say the first 20-30 customers per day will get a 15% off so that everyone will be encourage to buy at your shop using bitcoin payment.

You have said my mind, because as far as the bitcoin price continues to go up the price of all cryptocurrency will follow the same dimensions and I believe that the price of bitcoin is something I know quite that will continue to increase to increase and the fee will follow the same step of increase...let us flash back and realise that when the price of bitcoin was low many bitcoin transaction does not stay up to some minutes before it die off, secondly the price of bitcoin works in accordance with the price situation of bitcoin market.

You should consider using the Bitcoin Lightning Network for payments, because it is much faster than Blockchain transactions at the moment.

Also consider offering some kind of discount to people, if they are willing to pay with Bitcoin to incentivize the adoption of Bitcoin. (Example 15% off for people paying with Bitcoin)  

If you have such a plan then I think it will be a great initiative for you where you will accept payment by Bitcoin at the store. Moreover, if you want to accept payment with Bitcoin, you may face a lot of problems, especially high transaction fees. But I think if you take such an initiative it is good for you, but many people will hesitate to pay there due to high transaction fee in Bitcoin. However, since it is January 2024, there are currently not too many transaction fees if you wish to complete this initiative. However, since you will officially recognize your bitcoins, it is the best decision for you to accept payments in your store. This plan of yours was really interesting and if you can continue with one you will definitely get good profits in the future when the price of Bitcoin goes higher.

Good luck with your car business. Accepting Bitcoin for your business is a good idea, as long as you have done your homework and you're very sure that it is a good payment method to consider, then you should go with it.

It's been a while since I checked the mempool to see what the level with the crisis in the network,  I have stopped to move coins around for now until this whole network thing settle down and normalizes again and I am worried for those businesses who just started accepting Bitcoin before this network crisis began.

I am curious to know if there are coping with the fees or they have suspended the Bitcoin payment method for now dye to the congestions.

Although we have to be settle between two things,  and that are,  either we accept for the customer to pay the fees or use another available payment method, I the company take it upon themselves to settle the fees,  I have seen companies such as stake.com paying for player extra charges aside from the one from the casino.

With each passing day, the number of people who are interested in investing in Bitcoin is increasing, especially with the approaching Bitcoin halving, and after that, the bull run is the next thing that everyone expects, which will continue to increase. raising the price value of Bitcoin in the market.

And that's what always happens every time there is a halving in Bitcoin, but this time there are actually more people who are interested in Bitcoin, and not just investors but also big companies known all over the world came in to invest in Bitcoin because of the Bitcoin spot they expected.

Due to the fact that there are problems in the network, it is worth having alternative options in another crypt, the idea is good with opening a store and paying for goods in Bitcoin.
But carefully study the market in your area, how solvent are those who will pay with cryptocurrency? Perhaps this is an alternative savings? not a payment method for other people. In any case, this is an interesting function and news about your store will spread very quickly.

And if the local media writes about it, good advertising is guaranteed for you, good luck to you.

That's right, that's the way it is. As the price of Bitcoin rises, more and more people will make transactions with it when they know that they have a good profit to be made from it and they are satisfied, and that's when they decide to sell.

I just hope that when the value of Bitcoin increases, there will not be an issue with its bitcoin fee in the bitcoin network as well, as we know that when the network becomes congested, there will suddenly be a crisis in the fee because of ordinals and inscriptions.

I respect your decision because you want your auto parts store to take payment in Bitcoin. This decision will definitely drive you to improve because you need to present all kinds of information about Bitcoin to your customers, especially if you add more online business to your store. On 16 January 2024, you should continue to do the transactions in the correct manner. You must take care of the trust mempool and transaction fees so that you don't face losses sooner or later. Grow your business further,

Well, network congestion can really be a pain in the a*s, especially in this context where you’re dealing with a customer, and not a friend. With the way it is currently, it would make more sense if what is being paid for is worth a little bit more, then one can try overlook the fee. About holding Bitcoin, don’t forget that you will need to exchange some Bitcoin and buy back the products you sell to your customers. So it’s not as if you get to save everything Bitcoin that comes in. Just make your plan well and you can find a suitable percentage you can leave as Bitcoin investment.