Bitcoin investment is kind - page 6.

rat03gopoh

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

and my country that permit for cryptocurrency transaction in my country,

That is the good side that many people in many countries hope for when doing business with a new model. At least if you are the first in your city to do this, it will be an attraction in itself.

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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,

That's your first challenge, I don't think potential customers even tolerate today's crazy network fees unless you offer a discounted price for a certain purchase amount.

pinggoki

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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.

michellee

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If you want to launch a vehicle parts shops and want to use Bitcoin as a means of payment, you also need to add stable coins or altcoins as other coin options. That serves to overcome high transaction costs like now. People can choose to use stable coins if they mind the transaction fees of using Bitcoin.

You can still own Bitcoin by buying Bitcoin with stablecoins that are already in your wallet. Your business is going well, you have stablecoins and you can also buy Bitcoin. You can use that stablecoin to do DCA. So there are two benefits you receive from using Bitcoin and stablecoins.

And when Bitcoin transaction fees have returned to normal, you can make Bitcoin your main choice as an alternative means of payment. Of course, besides using fiat.

MFahad

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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.

Profits and losses are part of the cryptocurrency market. Those who buy at the right time get profit and those who enter at the wrong time definitely lose. However, the risk of loss in Bitcoin is low, but we can lose from our mistakes. If someone opens a shop and demands payment in Bitcoin, then of course it is possible where Bitcoin is legal, but in countries where Bitcoin is illegal, this concept is impossible. It is very good that Bitcoin transactions are allowed in your country, whereas Bitcoin is not legal in our country.

Your idea is very good, because Bitcoin growth is definitely expected after the halving next year. I see some issues for payment in bitcoin like, not everyone may have bitcoins to pay for vehicle parts. Another reason could be that just as you think the value of Bitcoin is going up, other people who hold Bitcoin will surely be aware of it.If your aim is to promote bitcoin then this is the best plan, but if your aim is to earn bitcoin then you can always buy from the market instead of opening a shop and get it.

uneng

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Nobody can assure you when Bitcoin transactions' fees are going to decrease. It can cease soon or not, so you shouldn't launch your business relying on Bitcoin payment method to work. There are no problems in telling your customers you will accept payments in BTC, you can even put some Bitcoin stickers and banners in your place to raise awareness, but in every cases, Bitcoin is just another payment method you will accept.

Focus in your business launchment and let payment options in second plan. Being paid in fiat or Bitcoin isn't what matters right now, rather it's the efficiency and promotion of your shop which will boost your business and bring more customers and money inside. Good luck, I truly hope you succeed!

btc78

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

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 expected that bitcoin’s price will go up by the next year so most likely the mempool will continue to be congested even next month and maybe even increasingly so it would be hard to directly buy or purchase services from you if they have to wait for so long or pay higher fees it would be a bit inconvenient

However i do like your business idea it is just not that possible right now to execute if we are talking about accessibility maybe you can use other altcoins although it will still be quite a risk because not everyone might have your preferred altcoin

GreatArkansas

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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.

This is a good initiative OP. Accepting Bitcoin as an alternative mode of payment is good, even though people will rarely use it as the field of your business is not really related to Bitcoin or your customers are not that familiar with Bitcoin, it's still good because Bitcoin will have free advertisement, it will help the community and the people.

Essential10

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OP It's great that you want to introduce Bitcoin transactions in your business activities. I want to say something about the payment method. Of course, you will consider customer preferences and prioritize multiple payment options to accommodate their needs. While accepting Bitcoin alongside traditional payment methods may be beneficial for some customers, make sure you're not excluding those who still prefer traditional payment methods. The high transaction fees currently associated with Bitcoin may actually deter some consumers from using it as a payment method. Maintain a reliable and trustworthy payment service to earn the trust of customers to operate a business.

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

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 don't know what is going to happen in the future. But if bitcoin transactions increase day by day, the fees will remain like that and maybe it will increase further. It depends on the volume of the transactions. The ordinal things keep growing every day and the number of BRC-20 tokens and their transactions also increasing every day. A couple of Ordinal coins have been pumped in the last couple of weeks. SATS and ORDI are two of them. These two coins have been listed on Binance and since then the number of transactions has kept increasing every day. I hope more ordinal coins won't pop up in the coming weeks. The network is congested at this moment.

Cryptomultiplier

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Nice plan OP. I love the optimism and wish you the best returns from your investments, not only in BTC but in being responsible enough to understand the type of investment you want to opt for.

It is however one thing to note that action speaks louder than words and when it concerns investment in BTC or cryptocurrency, you should have a means you earn from, because the crypto market is still exposed to market volatilities and price/fees flunctuations and I don't think you want to be losing money you don't intend to at the start of a new business.

Fundamentals Of

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Where are you based by the way? Just don't commit the mistake of launching your vehicle parts shop that only accepts Bitcoin payment. If you do that, your shop might have few to zero customers. But if you accept Bitcoin payment alongside fiat payment, card payments, and other online payment options, then there's no problem and you are probably good to go. The mempool is still congested with more than 300,000 unconfirmed transactions. Fees are still high. This might discourage your customers to pay in Bitcoin.

Richbased

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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.

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

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.

Don't expect fees to go down any time soon. If prices continue to go up, it's almost guaranteed that people will be transacting more and more. You're likely going to end up accepting BTC payments for wholesale orders.

Riginac111

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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.

Topic: Bitcoin investment is kind - page 6. (Read 784 times)