Help Me Convince My Boss To Accept Bitcoins

EhVedadoOAnonimato

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Quote from: Lazer on February 09, 2012, 09:56:09 PM

Quote from: EhVedadoOAnonimato on February 08, 2012, 06:32:03 AM

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol Wink

Sorry, I didn't pay attention to the "industrial" adjective.
Well, even though you can't make them disappear, you could theoretically declare them at a lower value. But I suppose that would need the buyer to do the same (not always an option), as well as it might prohibit you from reimbursing full VAT on the raw materials, if you're subjected to VAT.

Fucking taxes...

rjk

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1ngldh

Quote from: schnak on February 12, 2012, 12:29:58 AM

Quote from: Lazer on February 09, 2012, 09:56:09 PM

Appreciate all the replies!

Quote from: finway on February 08, 2012, 11:15:04 AM

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Quote from: EhVedadoOAnonimato on February 08, 2012, 06:32:03 AM

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol Wink

ill take a stab at it here too... assuming i can afford em id probably buy one to.

I think he said Industrial lasers, which means big massive ones that are expensive. Not pointer pens lol.

schnak

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Quote from: Lazer on February 09, 2012, 09:56:09 PM

Appreciate all the replies!

Quote from: finway on February 08, 2012, 11:15:04 AM

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Quote from: EhVedadoOAnonimato on February 08, 2012, 06:32:03 AM

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol Wink

ill take a stab at it here too... assuming i can afford em id probably buy one to.

Technomage

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Affordable Physical Bitcoins - Denarium.com

Indeed, accounting isn't that big of an issue. All legit businesses must pay taxes in fiat currency so Bitcoin at this stage is only relevant as a meta-currency. Prices are established in fiat and then converted based on the exchange rate.

There are potential software issues of course but nothing that can't be overcome.

kjlimo

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I think the accountants could handle it. It would be the same has holding a foreign subsidiary in Canadian dollars.

I've dealt with it regarding pension plans (I'm a retirement actuary), and I'm sure it wouldn't be too hard to deal with the other currency.

Elwar

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Viva Ut Vivas

Quite honestly, I do not believe that Bitcoins are ready for corporations that have accountants and accounting software. As much as I support any business using Bitcoins.

Likely your boss accepts checks for payment which costs no money. I doubt there are credit card purchases at that level.

If he is accepting credit cards for any part of his business, then bit-pay is certainly a viable option.

If there are large purchases over long distances (wire transfer, etc) then Bitcoin is a viable alternative.

If your boss has ever had to deal with a chargeback then he may be interested in Bitcoin as a solution for that.

kjlimo

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A few things that haven't been explicitly said yet:

1) How about you tell your boss he can pay you in bitcoins?

2) Let him know that there are tons of websites promoting businesses that accept bitcoins. This would instantly get you a ton of free advertising. I'm not sure how much that helps, but it's still something.

The bitcoin community is very supportive.

The standard reasons for why a merchant should accept bitcoin is that bitcoin has cheaper fees as well as no charge backs. This helps the merchant keep their revenue rather than having to split it with the credit card companies that make your margins smaller.

markio

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What can you buy with bitcoins? You can buy fuckin' lasers and shit... the future, man...

Lazer

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Appreciate all the replies!

Quote from: finway on February 08, 2012, 11:15:04 AM

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Quote from: EhVedadoOAnonimato on February 08, 2012, 06:32:03 AM

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol Wink

BitPay Business Solutions

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Quote from: rjk on February 08, 2012, 06:18:09 PM

They charge 0.99% for direct deposits to your wallet using their API and such, and 2.99% for converting to USD and depositing that to your bank.

That is correct.

All of our options are listed here on our site, with the costs and limits involved.

https://bit-pay.com/accountingHelp.html

I should add that there is no faster way to convert bitcoins to dollars in your bank account than using Bit-Pay. We beat all of the exchanges by several days time. Even with our Deposit Card, you can send bitcoins to yourself and we will send a direct deposit to your bank account the next day.

My Deposit Card came with Nissan keys. When I want to sell bitcoins, I can just scan and send them to my card, and dollars will be sent to my bank account the next day. No dwolla, no waiting!

rjk

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1ngldh

Quote from: pilardi on February 08, 2012, 05:35:06 PM

Quote from: Shuai on February 08, 2012, 12:41:02 AM

Quote from: cunicula on February 08, 2012, 12:23:50 AM

Are you really charging 1% for all this, or did you conveniently forget to correct the OP on this point?

Are you expecting them to do it for free?

1% sounds really reasonable, its still 2% lower than paypal and CC's.

I think he was referring to the fact that bit-pay appear to be charging 3% for all of those service (according to the wiki).

bit-pay.com mentions: "Processing fees as low as 0.99%", but I couldn't find what they charge for direct deposit in dollars.

They charge 0.99% for direct deposits to your wallet using their API and such, and 2.99% for converting to USD and depositing that to your bank.

pilardi

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Quote from: Shuai on February 08, 2012, 12:41:02 AM

Quote from: cunicula on February 08, 2012, 12:23:50 AM

Are you really charging 1% for all this, or did you conveniently forget to correct the OP on this point?

Are you expecting them to do it for free?

1% sounds really reasonable, its still 2% lower than paypal and CC's.

I think he was referring to the fact that bit-pay appear to be charging 3% for all of those service (according to the wiki).

bit-pay.com mentions: "Processing fees as low as 0.99%", but I couldn't find what they charge for direct deposit in dollars.

rjk

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1ngldh

Quote from: RaggedMonk on February 08, 2012, 02:57:45 PM

Quote from: rjk on February 08, 2012, 02:43:57 PM

"Industrial" probably means large CO2 lasers and such.

I went to a place that does laser engraving on granite, and they had a large laser room in the back corner of the shop with several lasers of various types. The actual engraving machines were in the main floor of the shop, and the laser energy was beamed around the shop on a system of mirrors. Pretty cool shit. It didn't look all sci-fi as people would expect, since they were using mainly CO2 lasers which have an invisible beam.

That sounds really cool. The combination of being able to cut through granite and invisible is unnerving though.

Hahaha, I know right? I think they have some kind of beam running parallel that kills the laser if it is crossed. And, it is up high in the roof where you can't just reach up and touch it.

Also, the final focusing opticals are on the machines themselves, so the energy in the air is not focused and therefore is a little less dangerous.

RaggedMonk

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Quote from: rjk on February 08, 2012, 02:43:57 PM

"Industrial" probably means large CO2 lasers and such.

I went to a place that does laser engraving on granite, and they had a large laser room in the back corner of the shop with several lasers of various types. The actual engraving machines were in the main floor of the shop, and the laser energy was beamed around the shop on a system of mirrors. Pretty cool shit. It didn't look all sci-fi as people would expect, since they were using mainly CO2 lasers which have an invisible beam.

That sounds really cool. The combination of being able to cut through granite and invisible is unnerving though.

rjk

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1ngldh

Quote from: RaggedMonk on February 08, 2012, 02:40:54 PM

Quote from: Yankee (BitInstant) on February 08, 2012, 11:35:30 AM

I like lasers, especially the ones that pop balloons and shit.

If he accepts Bitcoin, Ill buy one as well.

Yeah, those things are awesome. I think OP said "industrial lasers" though, so I am not sure.

"Industrial" probably means large CO2 lasers and such.

I went to a place that does laser engraving on granite, and they had a large laser room in the back corner of the shop with several lasers of various types. The actual engraving machines were in the main floor of the shop, and the laser energy was beamed around the shop on a system of mirrors. Pretty cool shit. It didn't look all sci-fi as people would expect, since they were using mainly CO2 lasers which have an invisible beam.

RaggedMonk

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Quote from: Yankee (BitInstant) on February 08, 2012, 11:35:30 AM

I like lasers, especially the ones that pop balloons and shit.

If he accepts Bitcoin, Ill buy one as well.

Yeah, those things are awesome. I think OP said "industrial lasers" though, so I am not sure.

Yankee (BitInstant)

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Charlie 'Van Bitcoin' Shrem

I like lasers, especially the ones that pop balloons and shit.

If he accepts Bitcoin, Ill buy one as well.

finway

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I'll buy one if your boss accept Bitcoins.

EhVedadoOAnonimato

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Quote from: Revalin on February 08, 2012, 08:48:06 AM

If you're selling an expensive industrial product, practically no one you're doing business with will be interested in Bitcoin.

Probably true. Not that having an extra means of payment would be of any harm, though.

Besides receiving bitcoins, business may also pay employees with bitcoins. Particularly those business who can benefit from hiring offshore. Employees - specially those not on the same jurisdiction of the employer - also benefit from receiving bitcoins, as, for tax purposes, it is almost like being paid in cash. And even if they are on the same jurisdiction and can't avoid the taxman, maybe bitcoin would still be interesting for some employees, as well as save bank fees for the employer.

Revalin

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165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g

Quote from: Lazer on February 07, 2012, 09:14:43 PM

Any suggestions would be appreciated!

I suggest you keep your business out of Bitcoins for now. Bitcoin's current strengths are in small transactions, international trade, and donations. If you're selling an expensive industrial product, practically no one you're doing business with will be interested in Bitcoin. What killer benefit would it have for anyone involved?

It's time may come for your market too, but not yet.

Topic: Help Me Convince My Boss To Accept Bitcoins (Read 4099 times)