Topic: How Do I find a Balance Here? (Read 457 times)
All the plans you make are for the sake of making a profit, that is the main goal that cannot be denied. Supporting businesses that are just starting out accepting Bitcoin will give you consistent profits, Business can make finances better in the future. Long-term investment strategies can also give hope of making big profits because Bitcoin prices continue to increase. You need a balance between maintaining your business and a long-term investment strategy. You need to maintain the continuity of your business by stabilizing your capital and if you get profits from your business, you can allocate it to increase the amount of investment.
You can do both by diversifying your holdings but make sure you are ready for the possible risks it may take. If you have enough Bitcoin funds I think it is better to try than do nothing and then regret for not doing anything. Choose wisely OP it's your fund that is involve so if you really have the guts then choose both but it will always depend on your decision.
Nope, I don't think it's a good idea to diversify when there's already a possibility that a bullrun is going to happen, there's no way tha it's a good idea to do that diversification right now, maybe if this is a stock market it might work fine but this is crypto market and I don't think that's a good idea. Just go to bitcoin all the way, there's no other way more proper than that. Don't look for balance because bitcoin's giving you the opportunity to get more value, don't stray to the right path. Of course it's your decision OP but remember that if you're have doubts about diversifying then that means it's not a good idea. 
I think to create a balance between them is not too hard and all what you have to do is to split the investment into two and use part of the money to start the business and keep the rest in the non custodial wallet. But you have to know the advantages and the disadvantages of accepting Bitcoin in the business. And yes if you accept Bitcoin in your business, it will make Bitcoin to be more popular in your location but before you accept Bitcoin in the business make sure that government doesn't restrict Bitcoin in your country.
Op does not want to start a business that accepts BTC, what they want to do is support a business they know that just began accepting BTC as payment, and by support, i mean spending some of their coins as payment in the shop, but op is a 'holder' and that is why the decision to either continue holding or to spend some on things they need is a tough decision to make.My input to the op is that they should understand how some of these merchants who accept BTC operate, most of them do not hold BTC and they use a payment processor to convert BTC to fiat or to another currency they prefer, so if you don't want to spend your coins, don't do it, you can spend fiat in the shop or create an online wallet where you store < $100, which will be for spending on the go.
Yup, that's how I've also interpreted OP's post, for sure, they use Bitcoin as an alternative payment since some countries Bitcoin is already famous, so some customers would ask if they have Bitcoin payment. Still, it doesn't mean you would be mandatory to pay in Bitcoin, it might be considered support but if you just want to hold Bitcoin you could still pay in cash or other digital payment. Especially in the current market and the news about Bitcoin ETF, it would be possible for Bitcoin to reach its new ATH this year so people are holding their accumulated Bitcoin.
I think to create a balance between them is not too hard and all what you have to do is to split the investment into two and use part of the money to start the business and keep the rest in the non custodial wallet. But you have to know the advantages and the disadvantages of accepting Bitcoin in the business. And yes if you accept Bitcoin in your business, it will make Bitcoin to be more popular in your location but before you accept Bitcoin in the business make sure that government doesn't restrict Bitcoin in your country.
Op does not want to start a business that accepts BTC, what they want to do is support a business they know that just began accepting BTC as payment, and by support, i mean spending some of their coins as payment in the shop, but op is a 'holder' and that is why the decision to either continue holding or to spend some on things they need is a tough decision to make.My input to the op is that they should understand how some of these merchants who accept BTC operate, most of them do not hold BTC and they use a payment processor to convert BTC to fiat or to another currency they prefer, so if you don't want to spend your coins, don't do it, you can spend fiat in the shop or create an online wallet where you store < $100, which will be for spending on the go.
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
You can find your profit here by keeping your product prices fixed in dollars and receiving bitcoins against that amount of dollars. And how many products you will sell will surely be noted by you. And you can calculate the dollar to understand how many dollars of extra profit or how many dollars have been lost for taking payment through Bitcoin. You can calculate your profit and loss by following this method. Otherwise you will have to struggle to figure out your profit and loss You can do both by diversifying your holdings but make sure you are ready for the possible risks it may take. If you have enough Bitcoin funds I think it is better to try than do nothing and then regret for not doing anything. Choose wisely OP it's your fund that is involve so if you really have the guts then choose both but it will always depend on your decision.
I like the idea, but it depends on his readiness to do both because it will be a waste of his time if he is not ready. It would be a hassle for him to take care of both of them, which wouldn't be good for him.But he's just holding on to his Bitcoin rather than supporting businesses adopting it because he still seems hesitant to start. And instead of hesitating, he should refocus on collecting bitcoins.
Moreover, we don't know whether Bitcoin transaction fees will remain as they are now or increase or decrease again.
But whatever decision he decides to make, he should think about it first and not make a hasty decision.
If you're not sure what to invest in and what not to invest in, you won't succeed in investing.To find a fit in personality and work, first define your goals and values. As if there is a harmony between you and your work then why not do both where you take a part of your holdings and then use it to support the business especially when you make money. I think the whole decision is up to you as to what you want to do and not do the math.
You can do both by diversifying your holdings but make sure you are ready for the possible risks it may take. If you have enough Bitcoin funds I think it is better to try than do nothing and then regret for not doing anything. Choose wisely OP it's your fund that is involve so if you really have the guts then choose both but it will always depend on your decision.
I think to create a balance between them is not too hard and all what you have to do is to split the investment into two and use part of the money to start the business and keep the rest in the non custodial wallet. But you have to know the advantages and the disadvantages of accepting Bitcoin in the business. And yes if you accept Bitcoin in your business, it will make Bitcoin to be more popular in your location but before you accept Bitcoin in the business make sure that government doesn't restrict Bitcoin in your country.
Your business idea is a very nice one. You can carry out. But Read all the comments and filter the good ones from the other ones.
Your business idea is a very nice one. You can carry out. But Read all the comments and filter the good ones from the other ones.
If you are not sure which one you should focus or prefer doing then why not do both where you take a portion of your holding and then use it to support the business especially when you will/may earn money when you support it like an investment but if you have extra cash then you should not touch your holdings. I think both are beneficial to yourself but the decision is up to you on what you are deciding to do once you reach a conclusion after reading some suggestions.
Every successful endeavor begins with the choice to try. Generally speaking, any business should have adequate funds set aside for this purpose. If you are truly interested in both businesses, you can find them quite easily. The reason being that, in my opinion, buying bitcoin and holding onto it for a long time is more profitable than buying and selling it within a week or month, as many people have experienced when trying to invest.
As far as I'm strongly, buying bitcoin is a good way for me to hold onto money instead of worrying about other things. However, Starting a business is a smart move as well, but it still relies on how much Bitcoin you are holdings.
As far as I'm strongly, buying bitcoin is a good way for me to hold onto money instead of worrying about other things. However, Starting a business is a smart move as well, but it still relies on how much Bitcoin you are holdings.
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
I have come across of a thing of this nature concerning bitcoin been accepted for business, acceptance of bitcoin in a business that established by you or managed by you is good thing and is another kind of way to ensure that you have boasts of your economy, because acceptance of bitcoin for your business, its two things you are doing at same time, the first one is that you have put your money in another way whereby it will get increased at any point of time, and secondly you have secured your money from tradinational money and expenses also, if you want to hold your bitcoin I think its very ideal for you to divert it to your business and people who is interested to with bitcoin can equally make deposit with bitcoin, some businesses currently support a payment with bitcoin.Most at times is how often people request to make payment with bitcoin, if op intending to run such businesses in a place that is well developed and established then there will be much request for bitcoin payments but in a way people don't request it would take several months for people in that region to began to chose that payment options. From my reasoning is just an additional way of expanding his payment methods. However pursuing another business currently can serve as a distraction because it all required you to lose your holding for fiats to established that business maybe who knows if such business would yield exponentially as bitcoin grows so quickly.
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The OP can set aside some of the profits from his business to build his investment portfolio - while the capital and some of the profits should be able to be turned back into building a better business. That's how business is run even if you are a long-term bitcoin holder.
Because it is not easy to build an investment portfolio that is stable and able to last long enough. The OP can set aside some of the profits from his business to build his investment portfolio - while the capital and some of the profits should be able to be turned back into building a better business. That's how business is run even if you are a long-term bitcoin holder.
Set aside a portion of the business profits carried out and build capital used to grow and develop, which will have a good impact on the progress of the business being managed.
Being a long-term Bitcoin holder is an advantage that will provide long-term rewards.
The longer Bitcoin will continue to accumulate with the profits gained and this provides a great opportunity to earn more profits.
It is all included in business and investment management that can be learned and managed properly.
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
If you are opening a business accepting Bitcoin, why should it bother you to hold Bitcoin? In fact, you should be able to do both (open your business that accepts Bitcoin and keep holding the Bitcoin you have for long-term investment)
with bitcoin price fluctuations constantly changing, you should be able to take advantage of that and try to make a profit by accepting Bitcoin as payment. but my question is whether your country is friendly for you to do that (open a business that accepts bitcoin), you must pay attention to things related to government regulations, you can't do that alone without safe regulations from the government.
So you're more or less in a dilemma between choosing to hold your coins and benefit yourself financially, or help a business and contribute to the Bitcoin ecosystem but with less financial gains potentially.
I say do what your heart tells you. If you think that selling the bitcoin is too much of a wrongdoing to yourself, then don't. If you think that the business, the people you'll get to meet and work with --the ethical satisfaction in general-- outweigh the capital appreciation over the long term, then you gotta sell.
I say do what your heart tells you. If you think that selling the bitcoin is too much of a wrongdoing to yourself, then don't. If you think that the business, the people you'll get to meet and work with --the ethical satisfaction in general-- outweigh the capital appreciation over the long term, then you gotta sell.
I share a similar opinion, however I want to add something to this too, and that is a reminder of the kind of world that we live in.
I'll start with a similar example.
If you have only $100, maybe giving $10 to a homeless person is not the most responsible situation for yourself. Sure, you are doing good and helping another, and maybe it will come back around in the future if you are a believer that what goes around comes around...but immediately, is it wise? Why not work until you have $1000, or $10000, and instead give more, with more comfort and security?
The same goes for you OP. If you hold 1 BTC and the business you are seeking to support will cost you 0.1 BTC, maybe it's not the wisest decision. That doesn't mean you still can't support them with a lower amount however, say, with 0.001-0.01 BTC.
If you hold 10 BTC, maybe 0.1 BTC is an appropriate contribution to the bitcoin economy, and it will be an investment that won't hurt if they don't succeed.
Short answer - If you are fixed on contributing to adoption, then maybe it's wise to just invest a fraction of your holdings rather than a chunk
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
What good in that business accepting BTC for you? Is that your business? If not then it means it belongs to someone else but how big is that business? let's say the business is huge and this will attract more consumers using BTC as a payment method this will increase the utilization of BTC and it is obvious that high utilization means more demand and more price overall. But, I will say it is better to hold 100% because this business that is accepting BTC as a payment method is not bigger than any of the BTC ETFs that are going to be approved soon. If it's true then the most beneficial decision would be to hold 100% and then you could consider supporting the BTC utilization. I don't even know how much BTC you have that you want to add to the utilization of BTC but if you are aiming to spend some then what's bad in doing fifty-fifty?
This way, you can get some of your holdings with you and can add some to the utilization of BTC also. But before that clarify your purpose and what you want from this.
I don't get, how will one affects the other? You can continue to hold and still keep running your business, only your customers are going to pay you in Bitcoin and it's not even by force, or are you trying to do some discount that will cost you some money? Because I don't see how it will make things harder for you.
Even right now it's hard to get paid in Bitcoin, to send Bitcoin to another wallet is higher than using Fiat to pay for whatever you plan to buy, using bank transfer is cheaper than paying with Bitcoin, $3 compare to $0.005, this is the difference between using Bitcoin to settle a payment vs bank transfer using fiat in my country right now.
Anyways, do not stress yourself, go with whatever is within your power, there isn't much to make either when people pay you in Bitcoin, most people do it to spread Bitcoin awareness in the public.
Even right now it's hard to get paid in Bitcoin, to send Bitcoin to another wallet is higher than using Fiat to pay for whatever you plan to buy, using bank transfer is cheaper than paying with Bitcoin, $3 compare to $0.005, this is the difference between using Bitcoin to settle a payment vs bank transfer using fiat in my country right now.
Anyways, do not stress yourself, go with whatever is within your power, there isn't much to make either when people pay you in Bitcoin, most people do it to spread Bitcoin awareness in the public.
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term holding?
I feel that it depends on the amount of bitcoin you are holding and how much of it you will be willing to give out in support of this business and it will not affect you in the long run. Understand that this is your own act of benevolence and you shouldn't put yourself in a situation where you will regret your actions will you must have used a reasonable amount of your hildings to support business and suddenly the price of bitcoin hits very high. You need to ask yourself the question regarding your willingness to give out those holding to business and you should also be very sincere with the answers you give back to yourself. Just sit back and count the cost of taking either of the options you outlined and you will get sure answers from within you. 
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
I have come across of a thing of this nature concerning bitcoin been accepted for business, acceptance of bitcoin in a business that established by you or managed by you is good thing and is another kind of way to ensure that you have boasts of your economy, because acceptance of bitcoin for your business, its two things you are doing at same time, the first one is that you have put your money in another way whereby it will get increased at any point of time, and secondly you have secured your money from tradinational money and expenses also, if you want to hold your bitcoin I think its very ideal for you to divert it to your business and people who is interested to with bitcoin can equally make deposit with bitcoin, some businesses currently support a payment with bitcoin.Most at times is how often people request to make payment with bitcoin, if op intending to run such businesses in a place that is well developed and established then there will be much request for bitcoin payments but in a way people don't request it would take several months for people in that region to began to chose that payment options. From my reasoning is just an additional way of expanding his payment methods. However pursuing another business currently can serve as a distraction because it all required you to lose your holding for fiats to established that business maybe who knows if such business would yield exponentially as bitcoin grows so quickly.
I have been holding for the long term and really want to continue this into the future. But right now, I am torn between continuing to hold and supporting a business that just started accepting Bitcoin. The internal conflict stems from my desire to contribute to the expansion of the Bitcoin economy by supporting businesses that adopt Bitcoin. I view this as a personal contribution to the broader acceptance and utilization of Bitcoin. On the other hand, it means that it will disrupt my plan of holding 100%. How do I find a balance between supporting this business that just started accepting Bitcoin and adhering to my investment strategy of long-term hodling?
I have come across of a thing of this nature concerning bitcoin been accepted for business, acceptance of bitcoin in a business that established by you or managed by you is good thing and is another kind of way to ensure that you have boasts of your economy, because acceptance of bitcoin for your business, its two things you are doing at same time, the first one is that you have put your money in another way whereby it will get increased at any point of time, and secondly you have secured your money from tradinational money and expenses also, if you want to hold your bitcoin I think its very ideal for you to divert it to your business and people who is interested to with bitcoin can equally make deposit with bitcoin, some businesses currently support a payment with bitcoin. Jump to: