Topic: Bitcoin investment is kind - page 4. (Read 784 times)

Whether or not it is good when talking about investment depends on our own perception because it is only about the view whether being in bitcoin is good or not.
For those of us who are in bitcoin then surely this will be something very good but different from people who are still new to bitcoin or don't like bitcoin then indeed this could be the opposite of the arguments we have so in this case I think it depends on where we are and depends on how we take a stand from the bitcoin we have.

Opening a business by accepting bitcoin as one of the payment options still looks good and until now there have been several threads and several people who do that but indeed for now you also need to be aware of the large transaction costs that are owned so there needs to be consideration about the problem of transaction costs at this time but indeed this option is certainly very good to do. It just depends on where you live too because in the end when you apply bitcoin as an alternative payment from the business you are in a place that is not too friendly with bitcoin I don't think it will run smoothly.

Op are you dreaming or it is a fictional story with only one character which is you. I don't think anyone will pay with bitcoin in you plan of work or your vehicle parts business instead they will still pay with the fiat which is perfect and preferable payment method for now . Okay let's assume that the customer will pay with bitcoin but who is going to beat the transaction fee? Is it you or the customer? Op this your story is not real and can't be realistic but a fiction.

And if you want to acquire Bitcoin then it is very simple, just use DEX to purchase the Total number and send it to Electrum wallet if that is your favorite wallet. But if you are planning to sell your parts with bitcoin, guy that will be a big dream for now. The truth must be told.

Firstly, I wish you success in your business, and I hope there is increasing interest in the new store you have launched. The positive aspect is that your country allows the use of Bitcoin, putting you in a legal position to utilize Bitcoin as a payment method for your store freely. Indeed, I don't know how much vehicle spare parts cost in your country, but if the prices are significantly lower than Bitcoin fees, it would be a considerable loss for the customer initially. As someone suggested, you could wholesale items using Bitcoin or adopt it as an alternative payment method without abandoning it. You may also consider using BTC on the LN network to receive payments or even receive payment in stablecoins on economic networks with low fees and less congestion. Afterward, you can buy Bitcoin and invest without burdening the customer with fees and the current network congestion, which will be resolved soon with sufficient solutions in place.

If you have carried out your physical and environmental evaluations of your environment and you see that more Bitcoin users is those who can buy your parts and have Bitcoin as payments and at the same time willing to bear the high fees using Bitcoin instead of the local currencies, because at the moment,  Bitcoin transactions is higher in fees per transactions compared to using your fiat currency.
This and many more are what you should consider before choosing Bitcoin as the primary payment method for your business, but if you use Bitcoin as an alternative it could be better, the reason being that not many use or know Bitcoin, and secondly not all will be willing to pay fees on Bitcoin payments for goods in your shop.

Investing in Bitcoin can result in both profit and loss because the market is about both profit and loss. The market doesn't just go up or the market doesn't just go down. If there was such a rule that the market would go up only one season and go down only one season then maybe no one in the world would be poor and everyone would be rich by investing. The market is changing every moment, now the market is in one position, in a few days the market may move to another position. If you try to know enough about the market, you may be able to predict the movement of the market, but predicting the movement of the market is not very useful in investing because the investment is usually planned for a long period of time. And in the short term plan little profit I sold my coins it is usually called tedding.

Having various means of payment is a way to make the payment process easier and to encourage purchase by customers. This is why options are always encouraged. Having bitcoin as one of the payment options will create awareness for people who own bitcoin and maybe due to emergency situation of things are forced to buy vehicle parts with some of the bitcoins they are trying to keep. These people will no longer need to go through the rigors of changing btc to fiat first before they can pay you. They will be able to pay you directly.

This will actually be good for you, your business and the citizens of your country as well because bitcoin will gain more strength for it adoption and use by the people and it will be fast increasing when they are not having that fear if making use of bitcoin in the country.


That will not be the reason to make people not to use bitcoin in making transactions, the mempool challenge is still very small to what may be the reason why people may be discouraged about using bitcoin for making payments, there are alternatives to paying high transaction fee.

interesting!

Hope you know that before thinking of including the use of Bitcoin as one of the payment channels in your business, you need to have carried out thorough research t know if the prospective customers in your chosen field of business knows about Bitcoin, have bitcoin and will be willing to make purchase with their bitcoin.

You should understand also that even though I have huge amount of bitcoin, I doubt I would want to give it ou in exchange for any goods I intend buying. Have you considered that even if your prospective clients have bitcoin, some of them would wand to hodl it and wouldn't want to use it for any mode of exchange.

You have to do the needed research before making your final decision.

You are a business operator and receiver of Bitcoin transactions and payments from your customers, will not want to spend like $20 to move your bitcoin too.

You receive your bitcoin and if your business does not have deep budget, you will have to sell your bitcoin to have cash for purchasing necessary things for your business. It will be your pain to pay high transaction fee on Bitcoin blockchain if mempools won't become less congested.

It's not a bad idea to introduce the acceptance of Bitcoin into your business, but the challenge is that the fee is high, and some of your customers will not agree to pay in Bitcoin because of the high transaction fee. Normally, accepting Bitcoin in business places helps create awareness. Since I introduced accepting Bitcoin into my business, most people have been convinced to invest in it, and some other people have also developed an interest in it. Your idea is cool, but the fee is not friendly. My advice is that, since it's the first time you are introducing this payment method to your business, you should also add some other crypto like BNB, USDT, Ethereum, TRX, or Doge. Though it is based on preference, if you don't want, you can stick to Bitcoin. Despite the fact that the fee is high, there are still people covering the fee; if you have such customers, they will pay the fee. For me, I am considering stopping accepting Bitcoin for now until the fee becomes normal.

OP, if you consider accepting Bitcoin payments in your business, you may still have the need to convert to fiat any time you are buying more products for your business. Now that the Bitcoin fee is high, if you accept other cryptocurrencies for payment, you can still trade in Bitcoin if you want.

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.

It is good step towards “collecting” bitcoin but to earn profits you still need to do one vital step: hodl. Those who you mentioned in the post are the long term holders of bitcoin whose getting benefits today. In similar ways you will be earning profits only after some time is passed. No one can predict what is the price in January 2024, no one knows what it would be right after you collect few million sats or whole bitcoins. The price at which you are receiving them is equally important to know. Many investors intentionally buy bitcoins at different periods by looking at the prices. They try to do DCA so that they will keep the BEP way lower. In the meantime its but obvious bitcoin will play its crucial role of getting valued more and more.
Just keep that math in mind so that you can have this payment system set properly.

It's great to see your forward-thinking approach in embracing Bitcoin for your vehicle parts shop, OP! Adapting to cryptocurrency trends can indeed open up new opportunities. Make sure to stay updated on the evolving landscape, and I wish you success with the official opening on January 16th!

You believe how strong our understanding of bitcoin can provide confidence to get involved in it and that is how one makes plans when they want to own bitcoin.
Bitcoin is quite risky and will also be quite profitable, these two patterns will be arranged and run when someone knows what to do while in it.
If our sense of humor is the same as the way we carry out fixed investments, we will continue to laugh when we see that the amount of our holdings is almost far from the basic capital when the market is badly corrected.
Unfortunately, people who don't understand Bitcoin's journey in this condition will panic and try to do something that will ultimately result in losses. Remember that this asset is quite volatile and depends on how one handles it properly.

When you decide to accept payments using bitcoin, you need to pay attention to how your customers respond and if they accept it well then continue with your plan.

If we cannot control our emotions in investing, we will be very greedy both in investing and in other things. Of course, it is very important to be able to control our emotions so that things that we don't want don't happen when investing. In my opinion, knowledge is also very important in making investments because without knowledge, of course we will not be able to hold the investment and will tend to sell more quickly because we don't understand well what we are doing.

Looking into Bitcoin for your auto parts store? I applaud your boldness! Don't get ahead of ourselves. Understanding the Bitcoin mempool is essential. This is where transactions are pending confirmation. Yes, crowds cause delays and higher expenses. The huge "but" is that this doesn't mean the end for your business because Bitcoin is a revolution, not simply a currency. Its worth is in long-term investment, not quick transactions. Your strategy to accept Bitcoin is sound - you're investing and earning. As governments legalize crypto, you're on the correct route. Be ready for turbulence. It's part of Bitcoin, but the upside? Huge.

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Final tip: keep educated and flexible. Crypto is changing fast, so should your company plan. Watch Lightning Network and other off-chain developments. They could revolutionize transaction efficiency. Remember, Bitcoin success requires patience and agility. You have the vision; now monitor the pulse. Welcome to business's future!

By opening your doors to Bitcoin, you're not just accepting a payment method, you're planting a seed of innovation that could blossom into something truly groundbreaking. This is a visionary move, and I applaud your courage and foresight!"

But, accepting Bitcoin can be a strategic move for your vehicle parts shop, but it's best approached with a balanced, data-driven approach. Start small, offer multiple payment options, and prioritize compliance. Remember, it's not just about hopping on the crypto bandwagon; it's about understanding your customer base, managing risks, and ultimately, making your business thrive.

The OP can do that as long as it fits within the legal framework in the local area, but it seems from time to time they are also widely accepting bitcoin. But I have to share that paying with bitcoin has its own challenges, and don't expect too much, but a far-fetched ideal is more realistic as long as it's convenient for businesses and customers. I also encountered many similar topics and most of the disagreements between the parties made the payment solution not always convenient and preferred. Many people know about bitcoin and gradually switch to it in the form of assets. It's not universally applicable, but there are still solutions you can do with small deals, but you won't always meet customers who are in tune with this ideal.

Anyway, this is only a small part of your business. The more important thing does not come from this issue, but focuses more on the quality of service, whether the payment solution is there are so many contributions? Let's be more honest with this issue.

Of course, those who took the risks and didn't care about all the FUDS that have been happening in the crypto market throughout the years are living their happy life right now because they are patient and know exactly what to do whenever bull runs occur. in the end, they are the ones who always get high profits from that event and when the price of bitcoins goes lower, they mostly buy a decent amount of it and repeat that cycle of investment until they get enough profit to withdraw it and enjoy their earnings. It's as simple as that but most people don't want this investment so they often fall into the trap of altcoins where they want to rush their profit instead of waiting for it rightly.

It's always nice to see businesses adopting Bitcoin as a form of payment. Your shop sells parts for vehicles, so I assume transactions won't be particularly small? In that case, on-chain fees might be okay, although it can still be inconvenient for people to wait for a transaction confirmation if you simply use a BTC address. So you'd need to figure out for yourself how to do it best. Maybe an off-chain solution, maybe pre-payments online, maybe zero-confirmation transactions below a certain amount of money.