I started accepting Bitcoin at my store in September 2021, here's an update.

Artem Sereda

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Quote from: Oneandpure on March 04, 2023, 10:20:24 AM

Seems amazing with your business have accepted bitcoin in September 2021 and more than one year keep exist priority bitcoin as currency payment, but would be better when you explore about how percentage chart your business growing up after accepting Bitcoin as payment tender.

I am little doubt with many respond above need your proof from transaction or you have picture showed about how your business accepted bitcoin and want to know your costumer feedback, are them happy when transaction using bitcoin as payment transaction than usually using fiat for all transaction. Lets clear here and respondens will believe with your story.

Accepting payments in cryptocurrency always empowers your customers. It is also very convenient, and nowadays very easy. There are various plugins or cryptoprocessors. They do not raise much doubt since they do not use your personal information, use a large pool of cryptocurrencies other than bitcoin, don't have transaction fees, allow partial payments, and much more. For example, this crypto payment processor - good option

Yatsan

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Quote from: wnet on March 03, 2023, 10:44:13 PM

Hello all, I wanted to give an update about my hardware store.

I started accepting Bitcoin payments in september 2021 and it has been a very nice journey learning about this wonderful invention. I recently invested in a ColdCard mk4 to keep my funds safe (using it fully airgapped). It really made me understand how Bitcoin works, I learnt that cryptography is literally what holds Bitcoin together, which I find awesome.

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it (except when purchasing my coldcard). I know for a fact that one day Bitcoin will be worth so much more, cryptography is the future. I'll HODL until the day I die.

It's pretty nice too because customers who know about and pay with Bitcoin at my store tend to come back when they need to purchase something and pay with Bitcoin.

So yeah, this was my little update, thanks for listening to my ramble Cheesy

, I'm out.

As others have mentioned, if your intention is to encourage people to do so, it would be much better showing proofs or hints of the progress. Not to doubt but I really think it will be hard to sustain a business such as what you have said; you did not spend any amount, then how come you have sustained your hardware shop? How did you manage to buy stocks for your store? This would only be possible if your supllier also accept crypto as mode of payment but would still be in contrast of not spending any amount. You may enlighten people having the same question.

Accepting this technology as a mode of payment is just okay as long as you will be able to sudtain it such as with maintaining it in general. On my end, i view the possibility of doing so, thru service-baded business wherein dervice is being paid but I doubt if it would be on sales 'coz you'd be needing to refill what your customers have bought from your store. Keep in mind that converting your crypto is situational due to the market price volatility wherein there is always a better time to do so and times you'd hesitate.

Furious 7

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His condition is still the same as the others who have done the same thing by doing that.
I'd still say it's pretty good and really doable but on the other hand threads like this are too many now and why not just do it in one place where there is already just for sharing and merging.
I'm okay with this because it's possible that you have long term plans to make some updates but judging from previous threads the updates weren't even there which I think is just one way to put the action and writing to merit.

Fivestar4everMVP

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If you are gonna be holding bitcoin till the day you die, please don't forget to let your family know about where you store your bitcoins and also how to access it, else, all that you labored to achieve while you are alive will simply end up being a complete waste and loss to your family, aside the business you are leaving behind.

And next time, an update like this is better done on the same thread where this same topic started from, creating a new thread to post an update on something you've discussed about before in another thread, doing this could be considered as spamming and merit phishing.

The Cryptovator

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It's not necessary to create a ton of threads, though. Simply you updating your old thread will cut down on spam. It's great that your business accepts Bitcoin payments. Therefore this is a win-win situation. You are indeed adopting Bitcoin and receiving payment in it. It has assisted in introducing Bitcoin to new people. Keep it up.

lionheart78

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Quote from: Pmalek on March 04, 2023, 04:49:12 AM

Quote from: wnet on March 03, 2023, 10:44:13 PM

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it.

How is that possible? If you run a store, don't you have expenses and obligations towards the state and your employees (salaries and taxes)? Do many people come to your store and pay with bitcoin and do you just not declare that as income?

I think not all sales are paid in Bitcoin and most probably only a certain percent of the total sales is paid in Bitcoin and the profit that were paid in cash can cover the one that is paid in Bitcoin so it is really possible that he can just keep the BTC and recycle the profit from the cash purchases.

Quote from: kryptqnick on March 04, 2023, 09:41:43 AM

Okay, if you're planning to hodl till you die, what's the point?

I think that is just an expression that he is willing to hodl Bitcoin for decades. Besides if @OP earns enough from his Business then it is possible that he can hodl BTC and pass it to his favorite kids or grandchildren. People who have enough can keep any investment untouched until the day he needs fund badly.

jrrsparkles

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Quote from: CoolBoybd on March 04, 2023, 12:06:32 PM

Great work from you and I appreciate it as a crypto lover. I also want to pay in Bitcoin but in my country it's officially illegal to make any transection through cryptocurrency. And that's disappointed me a lot.

If its completely illegal then keeping bitcoin under your custody can be punishable too so make sure you don't leave any traces which linked with your KYC wallets like exchange's wallet that is the only possibility for the government to track your real identity until that keep Holding surely there will be a day when government forced by the people to make it legal then you can spend bitcoin as you wish until that keep accumulating as OP.

CoolBoybd

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Great work from you and I appreciate it as a crypto lover. I also want to pay in Bitcoin but in my country it's officially illegal to make any transection through cryptocurrency. And that's disappointed me a lot.

alastantiger

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Quote from: wnet on March 03, 2023, 10:44:13 PM

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it (except when purchasing my coldcard). I know for a fact that one day Bitcoin will be worth so much more, cryptography is the future. I'll HODL until the day I die.

It's pretty nice too because customers who know about and pay with Bitcoin at my store tend to come back when they need to purchase something and pay with Bitcoin.

So yeah, this was my little update, thanks for listening to my ramble Cheesy

, I'm out.

Some time ago I read that people who accept Bitcoin as a payment option in their business have the advantage of seeing an increase in the revenue streams. So this update by the OP is just what everyone who needs that push to accept Bitcoin as a payment option in with your business next step would read to take the next step. The OP.has already given two hints - 1. He/she uses a ColdCard mk4 to keep my funds safe. 2. And doesn't spend any of it. They Hodl. You too can take a cue from this. I am pretty sure that customers Who return to buy goods with Bitcoin, would also refer their friends.

One thing I that is missing from this update is the challenges the OP faced and is facing with this aside the price volatility.

Lucius

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Quote from: wnet on March 03, 2023, 10:44:13 PM

~snip~
I'll HODL until the day I die.

Maybe you will leave all your wealth to your children, there is nothing wrong with that - but on the other hand, money is to be spent and to fulfill some wishes in life, not only for yourself but also for others while you are alive.

Quote from: UchihaSarada on March 03, 2023, 10:57:55 PM

I am out of words
---
Did you read forum rules that duplicated topics are not allowed. You duplicated topics in a same board (4 topics in Bitcoin discussion) and in different boards

It would certainly be better if he just made an update to the last topic, but for some reason he decided to open a new one. Maybe the OP doesn't know how to find his old threads, and I wouldn't be surprised if this is exactly the reason for this behavior. Given that the threads are from 2021/22, I'm not sure how the mods would react - but if you think it makes sense, you can try reporting.

Oneandpure

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Seems amazing with your business have accepted bitcoin in September 2021 and more than one year keep exist priority bitcoin as currency payment, but would be better when you explore about how percentage chart your business growing up after accepting Bitcoin as payment tender.

I am little doubt with many respond above need your proof from transaction or you have picture showed about how your business accepted bitcoin and want to know your costumer feedback, are them happy when transaction using bitcoin as payment transaction than usually using fiat for all transaction. Lets clear here and respondens will believe with your story.

kryptqnick

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Okay, if you're planning to hodl till you die, what's the point? It's like not having this money at all because money is a means of exchange, something you give to someone in exchange for something meaningful for you (goods or services). If you don't want to sell Bitcoin for fiat, it's okay. If you want to hodl for a while, it's fine. But hodling till the rest of your life is meaningless, unless you want someone specific to inherit the funds (they were never meant for your own benefit) and have made arrangements in place.
As for the update on accepting Bitcoin since September 2021, I'd like to hear more! Have you analysed the percentage of customers that pay in Bitcoin or the average number of Bitcoin payments you get per month/quarter? Is your revenue in BTC a sizeable amount, comparable to your revenue in fiat? It would be great to hear how accepting Bitcoin in a physical store works out for you in practice and how many people use this option. I'm sure I'm not the only one here who'd be interested to hear about it.

m2017

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Quote from: wnet on March 03, 2023, 10:44:13 PM

Hello all, I wanted to give an update about my hardware store.

I started accepting Bitcoin payments in september 2021 and it has been a very nice journey learning about this wonderful invention. I recently invested in a ColdCard mk4 to keep my funds safe (using it fully airgapped). It really made me understand how Bitcoin works, I learnt that cryptography is literally what holds Bitcoin together, which I find awesome.

Unfortunately, I didn't follow your previous topics and I don't know anything about your store. What exactly are you selling?

Quote from: wnet on March 03, 2023, 10:44:13 PM

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it (except when purchasing my coldcard). I know for a fact that one day Bitcoin will be worth so much more, cryptography is the future. I'll HODL until the day I die.

Really? Why do you need bitcoin if you are never going to use them for their intended purpose, namely, for buying and selling. Ok, for sale, you are using, but what about buying? Will you be satisfied with the feeling that you have a certain amount of bitcoin?

Quote from: wnet on March 03, 2023, 10:44:13 PM

It's pretty nice too because customers who know about and pay with Bitcoin at my store tend to come back when they need to purchase something and pay with Bitcoin.

So yeah, this was my little update, thanks for listening to my ramble Cheesy

, I'm out.

What percentage of buyers pay in bitcoin? What do your customers say about being able to pay with it?

cryptomaniac_xxx

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Quote from: wnet on March 03, 2023, 10:44:13 PM

Hello all, I wanted to give an update about my hardware store.

I started accepting Bitcoin payments in september 2021 and it has been a very nice journey learning about this wonderful invention. I recently invested in a ColdCard mk4 to keep my funds safe (using it fully airgapped). It really made me understand how Bitcoin works, I learnt that cryptography is literally what holds Bitcoin together, which I find awesome.

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it (except when purchasing my coldcard). I know for a fact that one day Bitcoin will be worth so much more, cryptography is the future. I'll HODL until the day I die.

It's pretty nice too because customers who know about and pay with Bitcoin at my store tend to come back when they need to purchase something and pay with Bitcoin.

So yeah, this was my little update, thanks for listening to my ramble Cheesy

, I'm out.

So it's like a 6 month journey accepting bitcoin as payment, good for you and up to now you are still holding on it and that is also very nice as obviously you know that we are going to enter a bull run in 2024-2025, so this is just a delay gratification on you and for those who are still holding their precious bitcoin.

Let me guess though, I reckon that you might have said like 0.1 BTC in that course as payment? Grin

DaNNy001

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Quote from: wnet on March 03, 2023, 10:44:13 PM

Hello all, I wanted to give an update about my hardware store.

I started accepting Bitcoin payments in september 2021 and it has been a very nice journey learning about this wonderful invention. I recently invested in a ColdCard mk4 to keep my funds safe (using it fully airgapped). It really made me understand how Bitcoin works, I learnt that cryptography is literally what holds Bitcoin together, which I find awesome.

I've built up a pretty nice amount of Bitcoin over time and I have never spent any of it (except when purchasing my coldcard). I know for a fact that one day Bitcoin will be worth so much more, cryptography is the future. I'll HODL until the day I die.

It's pretty nice too because customers who know about and pay with Bitcoin at my store tend to come back when they need to purchase something and pay with Bitcoin.

So yeah, this was my little update, thanks for listening to my ramble Cheesy

, I'm out.

I.must confess, your story is quite convincing but I also remember it doesn't remove anything from you, for you to at least show the community some proofs when presenting a thread like this. I mean what you are doing is just increasing some users thought about the authenticity of your story and write up and I guess no one is to be blame if they actually feel you lying about your story. I mean anybody who is good in thinking and structuring of lie could simply cook up a story like this and share it to the community in other to achieve so many goals which I believe such terms is classified as spamming in the forum. Bro if I were I would just make the thread and story a little bit realistic and maybe add up one or two images or proof to back up my claims.

lovesmayfamilis

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Quote from: Husires on March 04, 2023, 06:12:18 AM

@OP I hope you are honest, otherwise you may get a negative trust that may lead you to not be able to participate in any future signature campaign or benefit from the merit points you have collected.
+ people will not help you in the future.

Quote from: UchihaSarada on March 03, 2023, 10:57:55 PM

I am out of words

They seem to be posts to get merits, unfortunately I believed it and may do it again if he creates the same topic.
How did you manage to remember him?

I don't think OP can get negative trust. Fantasies are not punished here. In addition, I think he has a couple of accounts that also wake up from time to time and create beautiful stories, as a result of which he receives a good amount of merit. Look who the OP gave a lot of merit to.
But even this does not mean anything, since the OP is difficult to call a malicious spammer, on the contrary, he can be called a successful liar that periodically makes people believe him. Until he gave a single piece of evidence of his possession of the store, he is a liar. But he did nothing bad to anyone.
The question is different: how many people here are ready to believe him? Grin

xSkylarx

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Can you give us like photos or data like shows how many transaction youve made like receiving bitcoin or like any graphics that makes us amaze. It is kind of normal update and nothing more fancy on it but anyways congratulations on it i hope you still continue to accumulate it and hold it until you die(I know it is just personification) but dont forget to spend it to treat your self or your store .

DanWalker

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Quote from: wnet on March 03, 2023, 10:44:13 PM

I'll HODL until the day I die.

And I will tell you, bitcoin is useless to you. Bitcoin is money, it is just a tool to help us have a better life, it is not a religion or god for us to worship and never use it. Honestly, I invest in bitcoin because I want to have a better life, financial freedom, and control of my own wealth without government or bank intervention. I know, everyone has their own opinion, but I really don't like people making statements like that. I find it pointless to hold bitcoin, money, or any other asset to death, IMO.

Despairo

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I would like to know how much the percentage people are using Bitcoin and fiat in your store, also did these customers wasting your times by asking many questions to pay using Bitcoin? if not many customers are using Bitcoin and they're wasting a lot time, I don't think it's worth to accept Bitcoin as an alternative payment option.

Quote from: Husires on March 04, 2023, 06:12:18 AM

@OP I hope you are honest, otherwise you may get a negative trust that may lead you to not be able to participate in any future signature campaign or benefit from the merit points you have collected.

Assuming if the @OP is lying and create a fake story, it doesn't deserve to get negative trust because he doesn't scam anyone or have a high chance to make people lose their money. If you want to leave a trust to his account, you need to use neutral trust, not negative.

livingfree

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That's certainly a little update you've made.

I hope that it goes well and those questions that has been asked by our other co-forum members, you can answer that. Well, since you've said that you've accepted since 2021.

It's really curious to know on how much sales you've made from accepting bitcoin. The people that have paid you through it, well, you're not obliged to answer that but if so, you'll satisfy our curiosity. Grin

Topic: I started accepting Bitcoin at my store in September 2021, here's an update. (Read 302 times)