Is it a good time to start accepting BTC?

lepbagong

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Quote from: Sebas.tian on July 27, 2022, 04:23:32 AM

I think, accepting bitcoin in your business is more favourable in this season of bearish in the community, because those business men that accepted bitcoin as a payment are really improving in profits making compared to those that only accept fiat money in their businesses. Now that Bitcoin is more popular in the whole world, it will be a good choice for you to accept Bitcoin in your business so that you will start enjoying what other people that accepted bitcoin in their businesses are enjoying in the environment.

of course what you say is very true, friend, that accepting bitcoins in every business that is run will certainly make it easy for many people and obviously makes it easier for those who want to use it is something that should be done for business people. but not all countries can accept it as a recognized means of payment, of course this is also an obstacle in itself. so it really has to be adjusted to the country where we run the business whether we can fully accept bitcoin.
in principle it is clear that progress regarding bitcoin should be able to be adopted by business people to be able to adapt to this progress and that is necessary.

Adrian Genty

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As ordinary investors, it is difficult for us to judge when the real "valuation bottom" and "valuation top" will occur.
If you force yourself to "buy the bottom" and "escape to the top", it is often prone to hesitation and anxiety. And if we calm down and look at every market ups and downs from a longer-term perspective, we will find that temporary fluctuations may just be "small pits" in the market.
Therefore, to do a good job in asset allocation planning, the level of valuation is not a point that needs to be particularly tangled.

Sebas.tian

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I think, accepting bitcoin in your business is more favourable in this season of bearish in the community, because those business men that accepted bitcoin as a payment are really improving in profits making compared to those that only accept fiat money in their businesses. Now that Bitcoin is more popular in the whole world, it will be a good choice for you to accept Bitcoin in your business so that you will start enjoying what other people that accepted bitcoin in their businesses are enjoying in the environment.

TimeTeller

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Quote from: kro55 on July 26, 2022, 05:48:51 PM

Quote from: Joswa Russell on July 25, 2022, 11:10:28 PM

I don’t think your business will survive if bitcoin is doomed. It would be better if you invest the small portion of what you are earning.

The existence of a business has nothing to do with accepting bitcoin. I think the op is looking to use bitcoin as a payment method for his business besides fiat. Accepting bitcoin payments will not affect or hurt the business, but simply expand the payment method to attract more customers. If the op is living in a country where bitcoin is legal, this is a good decision as he will have another customer for his business, bitcoiners.

It also depends on how the OP looks at this market, does he believe that btc has future?
Because if he is not convinced with this market, better keep his payment method in fiat.
I do agree that it will just open for another payment method in his shop.
But it doesn't mean, it will have significant effect on his business.
So whether the OP will add btc payment, is all up to him. Because this is just another payment opportunity for him

kro55

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Quote from: Joswa Russell on July 25, 2022, 11:10:28 PM

I don’t think your business will survive if bitcoin is doomed. It would be better if you invest the small portion of what you are earning.

The existence of a business has nothing to do with accepting bitcoin. I think the op is looking to use bitcoin as a payment method for his business besides fiat. Accepting bitcoin payments will not affect or hurt the business, but simply expand the payment method to attract more customers. If the op is living in a country where bitcoin is legal, this is a good decision as he will have another customer for his business, bitcoiners.

Joswa Russell

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I don’t think your business will survive if bitcoin is doomed. It would be better if you invest the small portion of what you are earning.

Raflesia

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Quote from: xSkylarx on July 25, 2022, 07:33:58 AM

Despite its volatility, accepting bitcoin as form of payment on your business is always a good decision. If you want to avoid its quick ups and downs, you can just immediately convert it to fiat or stablecoin to not lose profit. If you have a deep capital on your business, then you can save some percentage of it for the future. It can also help to attract more customers to support your business once they knew you are spreading awareness about bitcoin and cryptocurrencies.

If BTC is directly converted to fiat, why not pay fiat directly if you don't want to lose when prices are unstable?
I know every business must have a desire from the owner to be appropriate with btc payments so I think it's good to save it for the future even though it doesn't maintain stability in the near future.
But I don't know how many other businesses that accept btc are they selling it immediately or are they still holding it.

xSkylarx

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Despite its volatility, accepting bitcoin as form of payment on your business is always a good decision. If you want to avoid its quick ups and downs, you can just immediately convert it to fiat or stablecoin to not lose profit. If you have a deep capital on your business, then you can save some percentage of it for the future. It can also help to attract more customers to support your business once they knew you are spreading awareness about bitcoin and cryptocurrencies.

m2017

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Quote from: minairia3 on July 21, 2022, 11:26:14 PM

Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

Are you talking about investing in or accepting bitcoin for your business? If you are interested in investing, a bear market is a good time because you do not have to wait to buy because bitcoin is extremely inexpensive to purchase and hold. In terms of accepting bitcoin for business, you can start whenever you are ready to do so. If you are worried about the price movement of bitcoin then after receiving your payment in bitcoin you can convert them to fiat right after, very easy and fast.

What is the point for a business to accept the bitcoin as a means of payment if it is immediately sold? When converting to fiat, even immediately, you will need to pay an exchange commission, which means that there are some losses. No business likes losses. For the most part, I think that the acceptance of bitcoin by businesses is mostly a PR stunt to attract new customers. On the other hand, if a business accumulates btc for hold, received for the sale of its services or goods, then these funds are in some way “frozen”, because they cannot be spent on business development and you have to wait in anticipation of a profit.

Isoprofit

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If you can wait for a while, you will be fine as per me. Bitcoin is showing downward movements at the moment and we cannot be sure about how it is going to behave in the future. If it keeps going down, you may be at a loss.

Nicholas Schaefer

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If you are thinking of accepting bitcoin in business you are comfortable. When the market price of bitcoin it will compensate for the price of the product you’re selling.

danadc

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I see that the time to accept bitcoin is now, and those who do not implement payments with bitcoin will lose the opportunity, right now bitcoin has a good price, some say it is cheap, if we consider that bitcoin can reach more than 100,000 dollars so yes, it is very cheap, because 20,000 dollars at the possible price that we all expect would be a win, I always seek to have a bitcoin, it is difficult and the road is quite hard, but I want to have bitcoin before it reaches that incredible price, because I know it will be more difficult to reach 1btc.

Derbind

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It’s never a bad time to start accepting bitcoin. In fact, bitcoin has always been a matter of peak hype as many people regard it as a valuable asset against inflation. Currently as the value of bitcoin has fallen and the market is in a bearish stage, it is the best time to buy bitcoin at a lower price. Analysts expect and are pretty positive about the hope that bitcoin will recover soon and reach the $48k mark by the end of the ear.

minairia3

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

Are you talking about investing in or accepting bitcoin for your business? If you are interested in investing, a bear market is a good time because you do not have to wait to buy because bitcoin is extremely inexpensive to purchase and hold. In terms of accepting bitcoin for business, you can start whenever you are ready to do so. If you are worried about the price movement of bitcoin then after receiving your payment in bitcoin you can convert them to fiat right after, very easy and fast.

kamvreto

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Quote from: lienfaye on July 21, 2022, 08:28:36 PM

Quote from: Osteoid on July 21, 2022, 05:06:48 AM

If you can handle the price fluctuation in the market then you can definitely start accepting bitcoin. Remember that the value of these currencies can fluctuate frequently and badly.

Thats true. Its a must to know the risk of accepting Bitcoin because it is high volatile. But if you're a crypto enthusiast and believing of its potential then you can start accepting regardless of the price.

Currently the price is low, a good time to accumulate. Therefore accepting Bitcoin for your business/service is an advantage because the price has a high chance to increase in the future. Thus if you're prepared for the worse case and willing to wait just incase the value turn downward then you can do it.

As a crypto user I don't mind bitcoin either. Bitcoin still has a good future, there will be new ATH always being achieved. A good time to start stacking bitcoins for the long term. However, to accept Bitcoin or as payment adoption for the Business or services we manage, it still requires clear regulation. Without clear regulations, it will violate the law. Each country has its own regulations regarding the rules for accepting Bitcoin.

lienfaye

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Quote from: Osteoid on July 21, 2022, 05:06:48 AM

If you can handle the price fluctuation in the market then you can definitely start accepting bitcoin. Remember that the value of these currencies can fluctuate frequently and badly.

Thats true. Its a must to know the risk of accepting Bitcoin because it is high volatile. But if you're a crypto enthusiast and believing of its potential then you can start accepting regardless of the price.

Currently the price is low, a good time to accumulate. Therefore accepting Bitcoin for your business/service is an advantage because the price has a high chance to increase in the future. Thus if you're prepared for the worse case and willing to wait just incase the value turn downward then you can do it.

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Quote from: amishmanish on July 18, 2022, 12:19:51 PM

I think its best time to accept bitcoin for businesses, the current prices of bitcoin are low and any bitcoin transaction is bound to giver higher returns in term of bitcoin. Moreover these prices are bound to rise greatly in future, and this will help to give great gains. So if businesses accept bitcoin now, it will be a meaningful decision.

If businesses are thinking long-term, then accepting BTC as payment method today should be a no-brainer. But there are costs that need to be accounted for (utility bills, operational costs, etc), so most merchants/businesses will continue using Fiat as the payment method of choice. Stablecoins are an option, but UST's instability caused a certain level of distrust among the general public. Despite the limitations surrounding Bitcoin, it's still used by some as both a currency and a store of value. It's decentralized and open source, meaning you can do whatever you want with it (as long as it's legal, of course). Adoption for BTC is slowly increasing each day, so it's likely we'll see more businesses/merchants accepting BTC as payment method in the future. Just my opinion

Osteoid

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If you can handle the price fluctuation in the market then you can definitely start accepting bitcoin. Remember that the value of these currencies can fluctuate frequently and badly.

virasog

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Quote from: ?? on ??

Their is No time that is bad to accept bitcoin. Accepting bitcoin depends on you if you need bitcoin or how you can be able to used it expecially when the market is bearish. If someone decides to send you bitcoin it is up to you to know what to do with it.

I think here we are not talking about accepting bitcoin at an individual level. Yes, you can accept bitcoin anytime but if you have a shop or business then you should only accept bitcoin as a payment method if it is approved in your country. If you start accepting bitcoin in your business and your government does not legalize bitcoin usage, you can get into trouble.

amishmanish

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I think its best time to accept bitcoin for businesses, the current prices of bitcoin are low and any bitcoin transaction is bound to giver higher returns in term of bitcoin. Moreover these prices are bound to rise greatly in future, and this will help to give great gains. So if businesses accept bitcoin now, it will be a meaningful decision.

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