How to use Bitcoin or crypto? | Bitcointalksearch.org

Tigerheart3026

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When it comes to a business where used cryptocurrency as a means of payment, I prefer using USDT, because is a stable coin and not have to depreciating or increase in price difference than using Bitcoin or other alt-coins that is not stable coin.

not everyone has hold usdt, as like i paying Ltc (extremely low fees) in few platforms to getting some services,
if they only receive usdt i have to spend minimum 1$ fees, so i think in business of course should accept multiple currencies,
company can convert in usdt at any time, if they feel their accepted currencies will go down.

Youngkhngdiddy

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It's great to see your diversified approach to receiving payments in various cryptocurrencies. Managing your income across different coins can indeed be advantageous, considering their fluctuating values. Your strategy of remembering the price received for each coin and selling when needed is a smart way to handle the volatility.

Being open to receiving payments in Bitcoin, Litecoin, and USDT shows flexibility, especially given the preferences of your clients. Your recommendation to use multiple currencies, even when living in the States, highlights the importance of financial versatility.

It's interesting to note that while your primary income is in 90% FIAT, you prefer Litecoin for its efficiency, and you're open to other coins based on transfer times and fees. This adaptability in your financial approach is commendable.

Your offer of web services in exchange for Bitcoin is a great initiative, allowing you to potentially earn more in this valuable cryptocurrency. It's a reminder that embracing different payment options can bring about opportunities for growth.

Remember, cryptocurrencies like Bitcoin can be a powerful tool, but as you rightly mentioned, they can't correct spending urges. It's crucial to strike a balance and use these digital assets wisely.

Bitcoin as useful as a psychological rallying point for the multitudes of people that want to see financial systems democratized, without the predatory lending and unscrupulous corporate shenanigans that have been present in all forms of financial interactions, to finally form a decentralized multiple layered truly trusted network for financial freedom. That’s just a rambling thought on the subject. You can find out what bitcoin and the inspired blockchain revolution can do by being active here and in other crypto communities such as Cent.
To accept Bitcoins for business is important today. It is more and more widespread and get more popular each day. Many want to pay with bitcoins so not accepting this currency would be a failure. You don't need to carry money in your pocket. Well this might change in the future but since the transactions are all digital, you don't really need physical currency. So assuming that the system is secure enough, you don't have to worry about your wallet getting stolen. Physical currency is subject to wear and tear. A digital one like this is not.

Xampeuu

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Quote from: Mr.right85 on August 21, 2023, 06:45:01 PM

Quote from: WillyAp on August 19, 2023, 12:37:19 PM

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Even then, selling though not idea isn't a worst thing. It is a next or available option as you would be using that which is available to you and can serve the purpose for which would seal your deal or solve a problem.

Bitcoin is both currency and an asset and having to hold it for a long time means you seeing it for an asset otherwise, you let it serve as the currency it is and spend almost as received. Either way, you either profit or lose or perhaps remain at equilibrium. People gets to choose how they use it.

indeed in the context it depends on the goal of the bitcoin holder, and the holder himself knows his position and his purpose is whether to sell it immediately or hold it for profit. if it is sold immediately, of course at the available rate, and whether he has agreed with the price at that time. whereas if it is held it is likely that later it will get more fiat, provided we know when the right time is to sell it, considering we have to get the right moment, because if this cannot happen the price will return quickly

WillyAp

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Quote from: Mr.right85 on August 21, 2023, 06:45:01 PM

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Its not about being cheated, nor receiving a salary.
A freelance or a outfit takes crypto, FIAT, even Gold and has the luxury to choose from several sources the most convenient one.
Its the way to keep calm and not to sell something under pressure because you did put all into one stable and have to sell, even suffering a loss.

Mr.right85

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Quote from: WillyAp on August 19, 2023, 12:37:19 PM

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Even then, selling though not idea isn't a worst thing. It is a next or available option as you would be using that which is available to you and can serve the purpose for which would seal your deal or solve a problem.

Bitcoin is both currency and an asset and having to hold it for a long time means you seeing it for an asset otherwise, you let it serve as the currency it is and spend almost as received. Either way, you either profit or lose or perhaps remain at equilibrium. People gets to choose how they use it.

WillyAp

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Quote from: Zlantann on August 21, 2023, 06:07:12 PM

Everyone has a plan for handling their finance. If you are selling goods it is advisable to always convert your money to other fairly stable currencies because you will need the funds to restock your shop frequently.

We definitely do not share the same surroundings.
Here literally no one has a clue about how to make the money they wish to spend. And if they had they rather spend all in one day then living without luxury for a few weeks. The notion that in order to accomplish something you need to sacrifice either on time and/or money is unknown where I live.

The post was made for people who need to learn how to handle crypto.

Zlantann

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Quote from: WillyAp on August 19, 2023, 12:37:19 PM

Some people like to be single minded and wish to just be paid in BTC. That is highly impractical IMHO.

We use it as it comes, we get paid in Bitcoin, Litecoin, USDT all currencies which are most favoured by clients.

If you are a service provider or sell any product the more currencies you accept will affect the number of customers you attract. If you stick to only Bitcoin payment, then you will restrict your business to only Bitcoin owners. Even if you want to keep your money in only Bitcoin, you can always exchange any coin for Bitcoin through diverse means. But it is good to accept multiple coins for payment.

Quote

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.

Everyone has a plan for handling their finance. If you are selling goods it is advisable to always convert your money to other fairly stable currencies because you will need the funds to restock your shop frequently. Bitcoin volatility can reduce the value of the money sold, so there is a need to handle these uncertainties. But if I am offering a service, I can decide to keep only Bitcoin without any problem. A service provider can allocate a certain percentage of Bitcoin he is hodling for a long time and have another amount he is converting to cover his expenses.

CryptSafe

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Your statement seems not clear though but I believe you are most talking about Bitcoin payment and here I am of in the opinion that Bitcoin payment should be on negotiable table. Workers should be given the option for which they want payment. I know it is a decision in which you as the CEO would want to take but looking at the laws of the land where that work exist, workers should be allowed to make their choice to which currency they want their payment.
However it is good too if you decide to accept Bitcoin as a means of payment for your goods and services that would be nice so far as the law governing your Country where your business exist does not deem it illegal to operate.

Nevertheless, in as much as Bitcoin is much prioritised by many for payment of services rendered, most would want to receive their payment in fiat and do the conversion themselves into Bitcoin as it is a volatile which could either increase or decrease in a speed of time. So payment for services rendered should be based on negotiable stand between both parties involved. Do not force payments on them.

BitcoinWide

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Who accept Bitcoins and Cryptocurrency

If we are talking about a business that accepts cryptocurrency as payment from customers, there is a very simple solution - payment pateways. They immediately convert crypto into fiat. Of course, the use of these services is also associated with risks. At least because your money is easier to steal when intermediaries are involved.
But this is a good solution for those who don't want to worry about exchange rate volatility.

Lida93

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You don't force bitcoin on workers who are not interested in receiving it as a means of payment of their salary. What then happen when the price of bitcoin plummet as some point which means your workers are going to receive their salary in a reduce value for that month. Why not pay in fiat be it USD or any fiat currency let those interested in converting it to BTC can go ahead after receiving their pay.

But if it's for an organisation that's known in dealing on cryptocurrency it will be easy for both management and workers to deal with, as before a worker would send out application he's already aware that he's salary will be paid in crypto currency and the rates wouldn't be constant. Just like in the forum, it's a community of crypto enthusiasts therefore it doesn't have to be an issue receiving payment in BTC or other altcoins, whatever rate it's valued low or high it's expected.

WillyAp

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Quote from: uneng on August 20, 2023, 11:32:44 AM

Quote from: WillyAp on August 19, 2023, 12:37:19 PM

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.

That sounds great in theory, but on practice you have to be constantly adapting yourself to the currently scenarios, which change frequently. Emergencies plus unpredictable situations happen all the time and Bitcoin fluctuations don't always work in our favour. Quite often we have to open exceptions selling BTC cheaper than we would like and cheaper than we received it for an executed job.

We need money in fiat everyday, and once the reserves run out, we have to appeal to our BTC holdings to save the day. I guess there is no other viable alternative, unless you borrow money, although it's much worse to pay interest later than cutting your BTC profit a little bit...

Its not that complex, with money in several different locations, bank, financial service, cash, wallet you sell what is best at the moment.
We have the luxury of suffering an inflation the last 12 years.

Quote from: SatoPrincess on August 19, 2023, 03:45:21 PM

It will be easier to get jobs if you post your portfolio in services board.

Done: https://bitcointalksearch.org/topic/webdesign-ux-marketing-5463947

Quote from: Stalker22 on August 19, 2023, 03:59:24 PM

Do you have a dedicated topic for your services or perhaps a portfolio?

Just published: https://bitcointalksearch.org/topic/webdesign-ux-marketing-5463947

uneng

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Quote from: WillyAp on August 19, 2023, 12:37:19 PM

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.

That sounds great in theory, but on practice you have to be constantly adapting yourself to the currently scenarios, which change frequently. Emergencies plus unpredictable situations happen all the time and Bitcoin fluctuations don't always work in our favour. Quite often we have to open exceptions selling BTC cheaper than we would like and cheaper than we received it for an executed job.

We need money in fiat everyday, and once the reserves run out, we have to appeal to our BTC holdings to save the day. I guess there is no other viable alternative, unless you borrow money, although it's much worse to pay interest later than cutting your BTC profit a little bit...

WillyAp

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Quote from: AprilioMP on August 20, 2023, 10:26:17 AM

It must be agreed in the initial agreement that the amount of salary in fiat will be received at each payment due date. Each payment is made when due, then the amount to be received in bitcoin or other digital currency corresponds to the fiat currency rate.

Such a payment system does not harm one party. Conversely, by implementing the system in this way, it can facilitate each other.

Nobody even mentioned a salary.

Quote from: WillyAp on August 19, 2023, 12:37:19 PM

Some people like to be single minded and wish to just be paid in BTC. That is highly impractical IMHO.

We use it as it comes, we get paid in Bitcoin, Litecoin, USDT all currencies which are most favoured by clients.

AprilioMP

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It must be agreed in the initial agreement that the amount of salary in fiat will be received at each payment due date. Each payment is made when due, then the amount to be received in bitcoin or other digital currency corresponds to the fiat currency rate.

Such a payment system does not harm one party. Conversely, by implementing the system in this way, it can facilitate each other.

zaim7413

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You can choose the Cryptocurrency that you like the most as a salary payment from the company, the company has given different options for employees to receive salaries, you can choose the crypto assets that you want to hold. The accumulated price can be calculated based on today's price, the company will pay you according to the price traded today.

You can sell at any time the crypto assets that have been paid by the company, if the price goes up you will be lucky because the value increases, but if the price decreases you shouldn't blame the company because the amount of salary you receive has decreased. There are advantages and disadvantages if you want to be paid with crypto assets, if you want to play it safe you can sell it immediately after the salary paid in the form of crypto assets enters the wallet.

WillyAp

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Quote from: WillyAp on August 19, 2023, 12:37:19 PM

Some people like to be single minded and wish to just be paid in BTC. That is highly impractical IMHO.

We use it as it comes, we get paid in Bitcoin, Litecoin, USDT all currencies which are most favoured by clients.

Just a little remainder of the topic, let's not start with interpretation. Grin

Quote from: The Cryptovator on August 19, 2023, 03:55:46 PM

Regrettably, I'm quite puzzled by the message you're trying to convey. Despite using a translator for my native language, I'm still unable to grasp its meaning.

You read it a few times and I'm sure you'll get it. (the meaning)

Quote from: Nheer on August 20, 2023, 06:58:33 AM

nd OP if you are worried about bitcoin volatility that your payment will drop when bitcoins price drops then you should rather stick to receiving Fiat as payment so you don’t get worked up checking your payment constantly.

I'm not worried, as a service provider, the more currencies you are able to accept, the easier you get a contract. You just need to handle them correctly. That is not only good for me, its valid for all service providers.

Sim_card

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Quote from: WillyAp on August 19, 2023, 05:32:18 PM

Well an excel could do the trick.

Quote from: Stalker22 on August 19, 2023, 03:59:24 PM

But you don't have to keep track of the price for every bitcoin payment you got. Just calculate the average purchase price after each payment. This way, you will always know if you are selling below or above what you paid.

Do you have a dedicated topic for your services or perhaps a portfolio?

Once I get a member title sure. Just saw that I am now a member, so no excuse,:)
Portfolio I have. in the spanish section there is an offer and an english offer is planned too.

Quote from: SatoPrincess on August 19, 2023, 03:45:21 PM

It will be easier to get jobs if you post your portfolio in services board.

Yeap its planned to do so in english too, in spanish there is an offer in the spanish board.

Explainer: I don't get salaries, I get paid for services

Quote from: WillyAp on August 19, 2023, 05:32:18 PM

Yeap its planned to do so in english too, in spanish there is an offer in the spanish board.

Explainer: I don't get salaries, I get paid for services

Is like your service is mainly for the Spanish people,that is why you haven't done it in English. There is a general board here for service,which you should have posted your service there in English so that more people will understand what you gat to offer. Who knows someone might even need your service now that is not Spanish. I will advice you to write it in English and put it on the general service board if you are really looking for someone you want to render your service to. You should also remember that it isn't everyone that will accept to pay in bitcoin or Litecoin,you should ask for payment in USD and use it to buy bitcoin or Litecoin. Instead of looking for who must pay you in cryprocurrency. In my country nobody will need your service if you want payment in crypto because it is restricted by the government

Nheer

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Quote from: Despairo on August 20, 2023, 05:36:52 AM

1 BTC = 1 BTC, no need to think how much exactly you getting paid at that time.

If you're want to make profit of BTC/USD pair, then there's nothing wrong, but if you get paid 0.03 BTC, you must think it's still 0.03 BTC in the next month, year etc as long as you didn't spend it. If you not trust Bitcoin, you can convert your BTC immediately to fiat when you get paid or vice versa.

Exactly the point, OP should understand that if he is being paid a fixed amount of bitcoin it will still be the same amount he will receive in months to come or years to come so there is really no need to be get himself worried about how much he will receive everytime except if he think the company will somehow temper with his payments intentionally. When you agree to receive a certain amount of bitcoin let say 0.02Btc you will always be paid that amount and it will be converted to the equivalent amount in dollar on your wallet so where is the need to constantly check whenever bitcoin price rises or drops.

And OP if you are worried about bitcoin volatility that your payment will drop when bitcoins price drops then you should rather stick to receiving Fiat as payment so you don’t get worked up checking your payment constantly.

Let’s say am being paid $100 worth of btc in my wallet i will receive the equivalent amount of btc no matter the change in bitcoin price.

Bureau

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Quote from: BIT-BENDER on August 19, 2023, 03:30:11 PM

You making it's complicated than it should be , before a company pays you in crypto-currency you and them should have reached an agreement concerning that and they must have told you that they do accept Bitcoin or any other crypto-currency as a means of exchange aside that there is an even more concrete way and that is getting your pay in what ever means they offer you and going to buy Bitcoin or the currency of your choice

Generally if you want to get paid in Bitcoin or I. Any other crypto an agreement is made on a fixed fiat value. For example if the fiat value agreed is $50 then the equivalent value Satoshi value would be paid regardless of the fluctuating Bitcoin price. The same condition applies for other crypto. It is not that complicated as the OP made it look like. There is zero complications when getting paid in Bitcoin. The only issue is that the recipient has to bear the transaction charges. At store they use the same method but the sender has to pay the fee.

Cheers!

Lucius

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Quote from: WillyAp on August 19, 2023, 12:37:19 PM

~snip~
Our income is set in 90% FIAT, Most companies prefer Bank transfers, I prefer Litecoin, take also other coins especially when transfer times and fees are not that huge.

If you work with companies, then you have to accept that FIAT is a standard that was set a long time ago, but that doesn't mean that some companies won't accept alternatives like Bitcoin. If you provide services on this forum, then I guess 90% of your income will be in BTC or altcoins, so it all depends on where you offer your services.

As for fees, it's rare that on-chain fees for Bitcoin are higher than usual, but if it's not about microtransactions, then no one should have a problem paying a few $ for a transaction that has a value of a few hundred $. Alternatives can always be some altcoins, even those that have a 0% fee - although one should not lose sight of the security of such transactions when it comes to the number of confirmations on the network. For Bitcoin, 1 confirmation is usually enough, while for most altcoins, this number increases significantly.

Topic: How to use Bitcoin or crypto? (Read 389 times)