Topic: Just Started to Accept Bitcoin in my Espresso Bar - page 5. (Read 11252 times)

It doesn't seem like a risk to me as the percentage of the BTC payments would be tiny compare to traditional payment methods. And again, it's not profit focused action. I just wanna learn about Blockchain by being part of it and I really really want to see some BTC fans buying some coffee with it and have a nice chat about crypto while he/she is sipping his/her drink.

I will definitely share the insights when I am able mate and will let you know about it 🤘🏼

Because most businesses exist to make money and aren't just idealistic crypto supporters.  That's just the reality, and maybe I'm too cynical, but I suspect that most companies that accept bitcoin as payment are only doing so in order to expand their customer base.  Sure, there are some that genuinely are bitcoin supporters (like this guy with his espresso bar, and perhaps places like Veldt Gold and some others) but most are doing it only as a gimmick.  They know bitcoiners are hardcore and will seek out places to spend their crypto, so those businesses want to attract such customers.  The bottom line is that they want to maximize their profit, which is denominated in whatever their local fiat is.

I can tell by reading a lot of comments like the above that members here must be young and/or without any business experience, and that they don't know a lot about how the real world works in terms of businesses and how they operate.  You guys will learn eventually, just as I did.

As I said, I genuinely would like to see the espresso bar succeed and I'm not knocking him in any way for accepting bitcoin.  I think it's a great idea, and if he was close enough to me I'd be more than willing to be a bitcoin-paying patron of his establishment.  It's good for the bitcoin economy, regardless of whether he converts to fiat immediately.

That’s really cool. I do a clothing business and allow people to make mobile payments too, but I don’t accept bitcoin yet.

I’m just accepting bank transfers and there is QR codes banking system that is similar to like that of your bitcoin cards placed on the table, it allows my customers to scan and make payments to my bank account without having to ask for account number. I also accept card payments. Not considering crypto payments for now.

Wow, you are so great! I like how you in trend your current business. Even though there are only few percentage of people that uses crypto currencies compared to those people who uses fiat currencies, you give the crypto users the opportunity to have use crypto currencies as their medium for payment. This Espresso Bar have a high potential to go in trend as it have a lots of potential and on current factors. Crypto currencies may not be the payment medium globally but as the days goes by, the people are keep on coming and engage in the world of crypto.

If a store needs to convert to fiat at the end.  Then why even bother supporting btc payment at all.  Is their like a niche type of people that only have crypto in the area and no fiat or something? Ridiculous!

If your going to support the crypto cause have damn good business model and real need use case and need to.  Don't just  support crypto payment just for the sake of it.  

I'm getting tired of these companies trying to support crypto when they really don't need to. We need real use case and this is not it!

We went through a big bear market so I have every right to ask those tough questions about real use cases and weed out things that work and don't work.

Yes I expect someone to hodl all their bitcoins they earn after an 85 percent drop. What i wrote makes a lot of sense and its quite plain and simple.

I realize you're just shitposting, but an espresso bar doesn't exist to gamble its revenue on currency fluctuations, and ultimately it doesn't make a difference to the bitcoin economy if a business converts to fiat immediately (which they pretty much all do).  Bitcoin still gets bought and sold and is circulated as a currency every step of the transaction.  Do you seriously expect this guy to just hodl all the bitcoin he makes from serving coffee?  What you wrote makes no sense. 

Plus, he said this loud and clear:

Grrr. 

This option of accepting bitcoin in your bar is a welcome development at least this will opened up and encourage customers or consumers who hardly knew or have ever heard any information about bitcoin, to seek for relevant information about bitcoin going by the recent news that I read shows that 73% of UK consumers says they don't know much about cryptocurrency.
 https://bitcointalksearch.org/topic/2019-03-08-73-of-uk-consumers-say-they-dont-know-what-cryptocurrency-is-5118390
I think setting up this bar will encourage other small scale businesses to adopt bitcoin payment as an alternative to fiat and other methods of payment of goods and services.

Congrats OP, it's a good step. But on another hand I am very interested in how beneficial btc payment implementation will be for you. So can you answer me on these questions?
1. How good is your bar's location? Is it located in areas which is full of tourists or it's mostly for those who live nearby?
2. How much transactions have been done since you implemented it? If there was any, how much was on bitcoin and on bitcoin cash.

If a store accepts bitcoin it would be wise to not cash out to Fiat at the lows. Only cash out it bitcoin goes parabolic or at least way for bull season.

Makes no sense to me why a store cashes out to Fiat immediately. That 1 coffee sold would equal 20 coffee sold to that one customer if the store owner is patient and can wait for bull run.

If a store cashes out to Fiat immediately then they are not really adopting crypto to its fullest if you have to convert it. True crypto adopting means no Fiat conversion

That's good to know, every user of bitcoin who owns some business need to start accepting bitcoin. This will help with the wide spreading of bitcoin as well in the increase of other merchants accepting bitcoin similar to fiat currency. This will make more people use bitcoin directly whom at present convert to fiat and make use of bitcoin.

In the United States it is unwise to pay for things with crypto due to taxable event. Who really wants to track their coffee payments and figure out their cost basis just to buy coffee. Nobody. The vision of crypto as a day to day currency does not work well with taxes. 

The vision of crypto as a store of value to buy a lambo or house makes a lot more sense.

I am become jealous with you can accept bitcoin when sell your product. on my country i can't do that even we have rules for not accepting another payment except my fiat currency. congratulation

The bigger end to it that if market kept on rising or gets stable at certain level it will be god for this entrepreneurs who are taking initiative to accept the btc. But if it falls sharply or continue to dip people will move away from it as they might not like to make losses under such circumstances.

Nice work bro. Can you pm where's your coffee shop located?

Congratulations, I support your business idea and I hope it's getting well. Hope you will not get disappointed at the end like some small enterpreneurs who faced difficulties. We have to admit that accepting Bitcoin as a payment in business is still rather risky and you can't be sure if you will be successful at the end. All the best with your business, hope it will help to promote Bitcoin too.

Its not a risk actually because he is not investing on bitcoin anyway , he only accepts payment via bitcoin which he can adjust the price of the product depending on the price of bitcoin  .  he wont loose this way  and besides , bitcoin is only an alternate option while fiats and other payment method are still available  .

Anyways , this is a another good news  . thanks to the op because he is helping the bitcoin to spread  and become recognizable by others  .

This is great! seeing someone who will take risk to accept bitcoin even though he/she knows that the price of it is not stable or it's volatile, I was happy that some of the community members of bitcointalk is starting to accept bitcoin as a mode of payment in their businesses, if I was to create a local store or any local service I might also accept Bitcoin or Ethereum (But the cryptocoins is really volatile and might be in debt or lose in my business someday lol) maybe accept a cryptocurrency to some small services or to some items that are not expensive so if the market falls I would not have a large effect to my business.

Thanks a lot for your support guys that means a lot to me. One week in, I've already started to feel people using BTC for investment mostly, nobody would travel from A to B to buy a coffee and spend bitcoin unless the shop is in their neighborhood. I hope I'm wrong it's not even profit oriented, I'm a big fan of Blockchain rather than Bitcoin. Practising it is the best way to learn but nothing is happening, I'll try my best to spread it around but I also don't wanna do aggressive marketing on all of the forums as most people using same major platforms. If I see a guy posting something similar on every platform, I would be annoyed my best change is for now are Bitcoin merchant Directories.

Thank you very much! As long as you are transparently able to show all the transections, you should be fine. At the end of the day money will enter your bank account. And I don't think BTC payments will be more than %1 of the total income. Seems like people hodling hard instead of using it let's see how it goes it's very new.