Bitcoin investment is kind - page 3.

Dzwaafu11

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

People have invested in bitcoin, and at the same time, some people have sold their own investment. That is how the market works, in my opinion. When other people are selling, people are buying. However, what you said is right, and it's a new thing that some people may gain and some people will lose. That is how it works, we all know, but we pray to always be on the safe side.

However, people who make a decision to receive payments in bitcoin while selling goods or services for people are at their own choice. We can’t force people to do that because they accept bitcoin in the region. Not everyone has knowledge of bitcoin, and not everyone has bitcoin to purchase something and pay back in bitcoin. So you can see that if a person wants to do such business, they indicate that they accept bitcoin and fiat as a method of payment. If not, I don’t think that business will go well for such an investor or businessman.

tjtonmoy

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Fees and mempool congestion won't be a problem if you do it in a smart way. You can accept various cryptocurrency and altcoins as a payment method. (Be sure to choose something that is reputable and has a good history. Could be a stable coin or something like BNB, ETH, SOL etc.)
Your main goal for accepting cryptocurrency should be for people to be able to pay without any hassle with cryptocurrency. When you have various options for payment with cryptocurrency, people will show more interest in it. And when the payment is done, you can always take all the cryptocurrency to a single exchange wallet and convert it into something that you want to hodl. Let's say it's Bitcoin. You can convert it to Bitcoin and hodling it as long as you want.

sokani

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Op, this is a good initiative and you shouldn't allow the mempool congestion and the high transaction fee discourage you from integrating bitcoin as a payment option in your business. I believe a solution will be reached soon concerning the ordinals spams and the transaction fee will return back to normal. So get your ads running in other to create awareness to your customers, when the ordinals attack have been addressed, they'll patronize you.

CryptopreneurBrainboss

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

We're incharge of making Bitcoin accepted and popular in countries provided the government hasn't banned Bitcoin in our jurisdiction. You have done well by planning to accept Bitcoin in your shop, although it's a small gesture but it'll contribute its part to the adoption of Bitcoin in the society. If everybody does what you're thinking of doing we'll have achieved Bitcoin been accepted locally and then what'll be left is for the government to give it's approval.

As for the mempool, the congestion would keep been there until the craze around the BRC-20 tokens on the Bitcoin Blockchain is reduced but it seems more tokens are been launched so we won't be seeing reductions in the congestion soon. Ordinals are trending at the moment, probably other NFT/tokens will get hyped as ordinals keep becoming a success.

The high fees of Bitcoin would definitely affect people that have interest in paying in Bitcoin but there are alternatives that you can use to keep receiving payments especially when they're small payments that paying fees for will be weird as the fees will be bigger than the amount you're paying for the goods that you want to buy or service you'll be receiving.

Zoomic

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

It is quite thoughtful of you to device a means of of acquiring and earning more Bitcoins but you also need to consider how to grow your business too if you are actually serious about it. For a business that is just starting, it is not adviceable to make strict rules like making Bitcoin a criteria for payment, it will be best making it an option considering the fact that Bitcoin is yet to gain general acceptance. It depends on your country and the level of acceptance there anyway. Again, the transaction fees which is currently high might be a discouraging factor for prospective customers. While trying to have enough Bitcoins to invest, also focus more on how to increase your customer base and earn more profit.

AnonBitCoiner

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

You are pretty lucky if your country permits cryptocurrency transactions. because a lot of countries don't do that. which is slowly changing but still.
Now Lets talk about accepting bitcoin as a form of payment for your vehicle part shop. like most of the people said here. Bitcoin's transaction fee are very high and is not suitable for everyone to pay in Bitcoin. Paying in Fiat is more convenient for normal people.
You can consider accepting other coins which have low transaction fee.
but if I wanted to own some crypto currencies or Bitcoin. I would simply buy that using the fiat money I earned from my Shop.

Kelward

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

This is a good move for a Bitcoin holder to take, because by accepting Bitcoin as a payment option, when your customers make payments with it, you're also using the opportunity to accumulate it in readiness for the coming ATH bull run. Although you'd need to purchase your vehicle parts from the manufacturers with fiat currency, so that payments made in Bitcoin by your customers can be solely hodled for bull run, this is just an advice on my part. You however have to consider the Bitcoin high transaction fees, this can be a disadvantage for now since the fees is still quite high, and introducing lightening networks and other alternative means of evading the high fees can be cumbersome, because we don't know for sure when the mempool will dicongest.

CageMabok

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Quote from: radjie on December 27, 2023, 06:58:53 PM

Bitcoin is able to open up business opportunities for anyone, many people have started their business by providing alternative transactions using Bitcoin, but until now the problem of high transaction costs still continues to occur so that most people are better off holding onto the Bitcoin they have

It is not wrong and quite reasonable not to make transactions to any exchange at this time if it is absolutely not necessary to do so. Because when you remember that transaction costs are still quite high, of course everyone will think several times about carrying out their transactions at this time so the solution to keep holding on to them is quite wise in my opinion.

Quote

It would be much better if you continued to add investment assets to Bitcoin rather than opening a business by providing transaction services using Bitcoin

Opening a business by providing transaction services using Bitcoin is actually not wrong if it can make things easier for business owners and also the customers of the business itself. But if this is still quite difficult for customers, of course only the customer has to make considerations about making transactions, while the business owner only needs to wait and serve those who come to make transactions. Although it is also not wrong to continue adding Bitcoin investment assets while running any business for now.

naira

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For now, it is better to use existing payment methods even if your goals are very good there are several things you need to consider because congestion will make your payment not in ideal conditions and the costs are high so the payer definitely doesn't want to pay a large fee which will be detrimental to him. regarding regulations in your country is it allowed to make transactions using bitcoin? because operations also need to be supported by your government policies. As a citizen, of course you must be able to balance legal transactions and currency recognized by the state. The country needs an economic turnaround that involves transactions using fiat.

tbterryboy

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Quote from: pinggoki on December 27, 2023, 12:15:08 AM

Here's a tip to you OP, don't advertise your service that you're accepting bitcoin when the price is this high and the potential that it goes higher is going to be high because you're not going to get big value because I assume that you're not going to quickly sell those bitcoins, maybe you can say it here and there vut to actively tell them to pay you is a thing that you should do when the price is really low and the overall market sentiment is so low and bearish, there you can get more value out of your services.

In my opinion, it is better to advertise it no matter what is the value of Bitcoin because many people are not yet familiar with it. So if they are able to learn and master it as early as possible, they can also start using it immediately. Bitcoin is very unpredictable, so I won't say that when the price is high, it will continue to increase more. Actually, it is more prone to dumps.

There are still services that let you sell your Bitcoins automatically right after you have received them. The only thing is that when the price of Bitcoin is high, its transaction fees can also be a little costly, and this can still prevent some Bitcoin users to make a transaction.

Rockstarguy

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

I appreciate you for accepting bitcoin as payment in your business, I think for you to make this decision it means your business is doing well to relate it with bitcoin which is another form of investment. The price of bitcoin is going high and we are heading into the bull market and it is not a bad idea to invest in bitcoin.

Mempool is just the challenge that investors are facing right now with bitcoin, but I hope this challenge won't last long for investors to be able to make transaction freely without difficulties.

Assface16678

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Well, its a good thing that you added bitcoin payment as a mode of payment in your business. I guess you know what you are doing, and I don't think you didn't think through this decision. The thing is, it's good that maybe some of your customers will be curious and will try to use the crypto currency payment. As we know, bitcoin is very famous these days, so it is possible that you will meet someone or a customer that has been in the field of crypto currency also. I hope the transactions go well and good luck to your business. My only concern is: what will you do with the bitcoin that you have received from crypto payments? Will you hold on to it or will you do something with it, like invest in something so that it will grow? I would like to know and am curious because I see that you have more plans than your current business, and that's good.

Learn Bitcoin

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Quote from: Hatchy on December 27, 2023, 01:44:57 AM

Op, when you mentioned "criteria," does that mean you'll only accept payments in Bitcoin?

100% No. He clearly mentioned in his post that Bitcoin is going to be one of the payment methods. When he said "One of", you should understand that this is not going to be the only payment method. I won't discourage him if he wants to accept Bitcoin as one of the payment methods. He may pick the lightning network as an alternative but not many people lightning Bitcoin network yet.

I agree with you in the other part where you mentioned the mempool congestion part. Yes, indeed, spending more than $10 as a transaction fee is not worth it. No one would pick this option while they have many other options like cash payment, card payment and others.

radjie

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

Bitcoin is able to open up business opportunities for anyone, many people have started their business by providing alternative transactions using Bitcoin, but until now the problem of high transaction costs still continues to occur so that most people are better off holding onto the Bitcoin they have

It would be much better if you continued to add investment assets to Bitcoin rather than opening a business by providing transaction services using Bitcoin

bocyaj

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Quote from: Jegileman on December 27, 2023, 10:48:08 AM

What you’ve thought about bitcoin increment over the next year is true and accurate but if you want to check the mempool transaction fees rate before embarking on this payment method, you won’t get to be accepting payment with bitcoin because as the number of bitcoin users is increasing, we will see more transactions coming into the mempool which will automatically increase the transaction fees of bitcoin. I will advise you to use an exchange wallet for funds you’ll need to be sending out and in during transactions and keep long term savings in your external wallet, that will make the business flow faster without bothering too much about the transaction fees.

The reason for the growth is the adoption of the bitcoin by the new users around the world.If the trader want to earn some extra money from the cryptocurrency,the bitcoin will be the first option for them.Because of the longer term volatility and sustainability, the bitcoin market was the wider and decentralised in nature.Eventually the transaction fee of the bitcoin was increased because of the demand,it was the master move to get your valuable bitcoin for the fee.

If you calculate the current transaction fee,the minimum the bitcoin trader should possess 12$ as fee to the faster transaction.This move by the exchange owners leads to spoiling the decentralised behaviour of the bitcoin in current market.If you able to exchange the coin using the swap option will be better to use to reduce the transaction fee.

Nwada001

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It's good that you want to start using bitcoin as a means of payment in your new shop starting next year, but to be honest, if you do that, you have to checkmate how the fees are by that time, because with the recent fee increase, it's not profitable for business people to still be accepting bitcoin as a means of payment.

Who will pay the high fee? Will it be deducted from the purchase amount, or will the customer have to pay it, or will you guys have to send it using a low fee, for which there won't be any guarantee as to when the transaction will be confirmed?

Unless you are ready to use a centralised means of accepting payment, maybe at the end of the day or week you can send the bitcoins over to a private wallet. If not, right now, fiat and altcoins are the best option to be used to accept payment in any sales shop right now; it's cheaper.

2Pizza410000BTC

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OP you want to start bitcoin transaction in your business it's not a bad idea it's definitely a good idea. But currently the Bitcoin mempool is very high, there is no guarantee that the Bitcoin mempool will decrease anytime soon. But in this situation if you start your business only bitcoin transaction then maybe you will not get very good response in that case you must also start payment method in unique currency so that customer can make you unique crypto currency transaction very easily. I always wish you good business.

Onyeeze

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Quote from: Richbased on December 26, 2023, 09:41:30 PM

OP you need to use what is obtainable now to draw your analysis of the decision you choose to make, though the congestion is mempool will reduce from time to time but I don't see it dropping anytime soon and January is almost around the corner so you should have an alternative should if the congestion and high transactions fees continue till the date you wish to establish the use of Bitcoin for you business so that you don't find it difficult to relate with customers who will be ready to patronize you through the use of Bitcoin.

The congestion now should not make someone to dislike bitcoin or make a transaction with the person that want to do transactions with bitcoin, its obvious and understanding that bitcoin is something that is good for investment despite the high fee of the transactions I think that many people do cherish and ensure that they have transact with bitcoin and also make a profit, when you reason the congestion I don't think that it have to do with establishments of business with options of bitcoin payment

The Cryptovator

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Though I welcome and appreciate accepting Bitcoin as a payment method, due to the recent congested network, it has become hard to accept Bitcoin. Because even though you have been trying to accept Bitcoin in a real store, there is a chance of double spending. Transactions are going to delay a lot, and transaction fees is too high as well, and the sender has to wait a long time to get transaction confirmation on the blockchain. I don't see any possibility of seeing low transaction fees and fast transactions very soon. However, you may start accepting Bitcoin payments and share with us what difficulties you are facing. So, based on the situation, we may find a solution.

JoyMarsha

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Quote from: Riginac111 on December 26, 2023, 09:00:58 PM

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and awaiting for January 16th to open officially.

OP, I was thinking that you would still gonna accept the payment method of fiat instead of Bitcoin because of the way you sounded, it is just like you can not decide to follow the steps of others who accept bitcoin payment in their business. But here you are doing the same thing in your about-to-launch vehicle parts shop by 2024. I am kinda surprised anyway that you want to follow the same step as others that you want to condemn indirectly at accepting bitcoin payment instead of fiat as a mode of payment in their business. Nevertheless, every one of us is free to choose whatever payment method we want in our business as long as bitcoin is legal in our country.

Topic: Bitcoin investment is kind - page 3. (Read 784 times)