Topic: My dream business succeeded - page 3. (Read 881 times)
Your father a politician gave you a lot of money to start a business. But the liquor store that you have given will actually make the society or the citizen of the country worse off. By doing this, it will be seen that the reputation that your father has gained as a politician may be damaged because of you.Because the liquor store is not a very good thing, many people will be affected by it. However, if you want to involve yourself in Bitcoin, you must study the market in Bitcoin and have a long-term plan to invest in Bitcoin.
There are many reasons why your customers are not ready to pay for beer using Bitcoin, one of which is that transaction costs have been very high recently. Logically, to save transaction costs, customers prefer to use local currency as a payment medium for small transactions. For example, you sell a bottle of beer for $1.5 or $2, the calculation is that the customer has to pay a higher price than what you sell because it includes transaction fees for sending Bitcoin.
I just hope that your business is successful and can bring big profits to you, hopefully there will be large orders who are willing to pay you with Bitcoin.
I just hope that your business is successful and can bring big profits to you, hopefully there will be large orders who are willing to pay you with Bitcoin.
Besides the reason transaction fees are quite high, I think privacy can also be an issue for some people. Like my area, I know many people who are investing and holding bitcoin but they have never made it public or shown it off to anyone. Although we don't have any stores that accept bitcoin yet, I suspect that even if we had stores that accepted bitcoin, people still wouldn't use bitcoin to pay. Bitcoin is not banned in my country, but people still don't like to publicly say they own bitcoin, including me.
I'm not spreading Fuds but actually using bitcoin as a means of payment is facing certain problems and I think we won't see this becoming widespread anytime soon.
There are many reasons why your customers are not ready to pay for beer using Bitcoin, one of which is that transaction costs have been very high recently. Logically, to save transaction costs, customers prefer to use local currency as a payment medium for small transactions. For example, you sell a bottle of beer for $1.5 or $2, the calculation is that the customer has to pay a higher price than what you sell because it includes transaction fees for sending Bitcoin.
I just hope that your business is successful and can bring big profits to you, hopefully there will be large orders who are willing to pay you with Bitcoin.
I just hope that your business is successful and can bring big profits to you, hopefully there will be large orders who are willing to pay you with Bitcoin.
It is your dream but it is your dads money , isn't much better if you are the one who provide for that said dream? because it will be more better to see that you are working on your own and not just asking for your parents money and take it as yours because this brings no best in my opinion.
But yeah congrats to your father for opening a Bar and just let you manage that for him as that is his Money and not yours.
the best thing you have here is that you are welcoming Bitcoin to the business and this is for me the good picture in this thread and for that Thanks for making bitcoin open for public in your place.
But yeah congrats to your father for opening a Bar and just let you manage that for him as that is his Money and not yours.
the best thing you have here is that you are welcoming Bitcoin to the business and this is for me the good picture in this thread and for that Thanks for making bitcoin open for public in your place.
Congratulations lady. I love to see young entrepreneurs start a business. I hope your business excels to the level you want it. Regarding the Bitcoin transaction fee, it’s a sad thing indeed. However, accepting USDT and BNB still pushed the ideology of cryptocurrencies at large, in which Bitcoin is involved. I hope the transaction fee for Bitcoin comes down really soon as many businesses want to integrate it except the high fee.
Op congratulations for opening a bar with that huge amount which your father dash you. You are a wise person because if some people got this opportunity they would have lavish it it hotels or bars to drink with friends. You have taken a wise decision though you didn't use in to invest in Bitcoin but for the shake that you will be accepting Bitcoin then you have indirectly invested in Bitcoin and your business will be growing rapidly.
But be careful with the business because when you accept Bitcoin in the time of high then you might lose. So you have to think first before accepting it. I wish you all the best.
But be careful with the business because when you accept Bitcoin in the time of high then you might lose. So you have to think first before accepting it. I wish you all the best.
Do you even think that her father is a real politician as she is claiming? Or it is for formality. Because from the way I observe and analyse the thread, I don't believe the story. Because a potential or influential politician daughter or son will not come to this forum to look for... There are some stories someone will tell me here that I will believe and not this type nof stories.
You sound as if you know her from Adam. Or you think her story is a lie because you have evidence to prove otherwise? Or you think she purported the story simply because you live close to her? C'mon, stop acting like Sherlock Holmes when you have nothing to prove. The story may sound fake simply because we've heard so many types like this but that doesn't mean there can't be an ounce of truth. Congratulate her effort and that of the dad's for given her the opportunity to make her own living instead of living off of him. Gee, you sound envious that she's the child of a politician. Despite the fact that most of these politicians, especially in the African region are mostly corrupt doesn't mean they all are.
Congratulations on your achievement, op. Atleast with the little time you've spent here, it shows you are also interested in practicing the knowledge you've gotten or are still getting about Bitcoin but I'd advise that you stick with accepting payment in fiat for the time being till the congestion in the mempool lessens, that way you may have been able to get a wide customer base who will be patient and willing to transact in Bitcoin.
Glad that you were able to open up a bar quite easily and that is with the help of your father I hope this business venture of yours works out since you involved a family member in getting the funds to get the bar running or what we call the seed capital
Anyway this bar would be a nice place to gather users of cryptocurrency since you already have crypto as your payment method I wish you and your business all the best!
This could also make more people familiar with cryptocurrencies when visiting there because bar owners are already willing to accept cryptocurrencies when paying for drinks or whatever the OP sells at the bar. Moreover, if running such a business is also assisted by the OP's parents, it will also make it easier for everyone to ask about how payments can be made at the bar. So that could certainly be very good for the OP and also for the cryptocurrency that the OP will receive when the customer makes the payment. Anyway this bar would be a nice place to gather users of cryptocurrency since you already have crypto as your payment method I wish you and your business all the best!
Glad that you were able to open up a bar quite easily and that is with the help of your father I hope this business venture of yours works out since you involved a family member in getting the funds to get the bar running or what we call the seed capital
Anyway this bar would be a nice place to gather users of cryptocurrency since you already have crypto as your payment method I wish you and your business all the best!
Anyway this bar would be a nice place to gather users of cryptocurrency since you already have crypto as your payment method I wish you and your business all the best!
The idea of payments used bitcoin for alternative is still very popular because some of us think that with that at least we can promote bitcoin in a different way not only providing learning but making payments through bitcoin can also be a good promotional event to introduce bitcoin indirectly.
But in this case we must already know that for now transaction transaction transaction costs are one of the problems that cannot be avoided and I personally even though i do support them businesses when providing payments via bitcoin but i don't want to pay for a few glasses of beer with bitcoin because of the current transaction costs so it needs to be thought through in the end.
But it can still be done it's just that for now there will be very little interest and this is also if forced will harm yourself especially if the shipping costs are deducted from the price of your beer.
But in this case we must already know that for now transaction transaction transaction costs are one of the problems that cannot be avoided and I personally even though i do support them businesses when providing payments via bitcoin but i don't want to pay for a few glasses of beer with bitcoin because of the current transaction costs so it needs to be thought through in the end.
But it can still be done it's just that for now there will be very little interest and this is also if forced will harm yourself especially if the shipping costs are deducted from the price of your beer.
Nice to hear that your father used the public funds meant for the development of the citizens to open a bar for you to increase the drunken in the society. Bar is always to attract more drinkers. Well it is a good thing that you open your own bar but as a daughter of a politician, a bar work is not good for you.
In having yo assume that all politicians are corrupt or just can’t have an investment of their own or perhaps have got no other stream of income aside from politics, then the assumption that the said politician must have dipped hands in the nations or state treasury to finance personal business but, speculatively, this might not be the case. There is no how to know the individual in question since it wasn’t clearly named in OP and it’s possible not to be a corrupt politician. Though majority of the politicians are corrupt, there still is a few in the field that still seeks to do right by the citizens they represent.Still, the choice of having a bar for a business isn’t exactly something out of place. We all need a place yo chill out and enjoy the earnings of our labor and a bar is one of those places. Now, it’s left for you to establish a limit at which, you don’t result to a drunken state. Even so, it’s good business to the investor.
Meanwhile, having yo accept Bitcoin for a means of payment at the time wouldn’t work so well and you wouldn’t find users opting that for a payment media. Let fiat assist in running the order of the day and when the time is right, you can initiate a Bitcoin payment media.
It is generally believed that all politicians in Africa are corrupt because bribery, looting and corruption are popular in government. But I am happy to know that your father is not part of the corruption that has kept Africa in perpetual poverty and underdevelopment. Tell your dad to keep up the good work.
Do you even think that her father is a real politician as she is claiming? Or it is for formality. Because from the way I observe and analyse the thread, I don't believe the story. Because a potential or influential politician daughter or son will not come to this forum to look for... There are some stories someone will tell me here that I will believe and not this type nof stories. ...my dad is an influencial politician in my state.]
Op do you really understand this statement in politics, and influential politician daughter or son is here. How? Is it that you are here to learn Bitcoin? If it to learn Bitcoin then you welcome but if it is the opposite then your story is a fallacy. And I will put your on my watch list to know if you are really an influential politician daughter or son. And things you discussed here will also showcase your identity as a politician daughter or son.
Congratulations @cryptoprincess101, don’t feel bad about the negative comments, you don’t have to prove anything to anyone. And @Agbe, if I recall correctly, just a year ago you were making similar threads, pushing for bitcoin adoption in your community. Quit bothering OP. He doesn’t have to give you the bar’s location or hang out with you to prove his story is real. Privacy should be respected, no one should be forced to dox themselves to prove a point.
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It’s bad practice to quote the entire OP if you’re not responding to a specific text in the OP. The thread is becoming difficult to scroll through because of the large size of images you quoted. 
My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.
Congratulations on starting your dream business. After achieving your dream from the start of the year, 2024 will be a rollercoaster year. The congestion of the mempool, which results in high transaction fees for bitcoin, has been a significant setback for businesses that use bitcoin as a means of payment. Individuals cannot confidently pay or send money without incurring high fees. I don't think anyone will want to pay in bitcoin right now; just keep collecting your payments in fiat until further notice.
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Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.
It is good that you listen to the advice of forum members who know more than you; this will help your business grow and attract customers of various types who will use different methods of payment to pay for your services. I don't think the bitcoin price will fall anytime soon because of the growing number of users on the network as a result of its widespread adoption. We remain optimistic that the transaction fee will decrease in the future, but it does not appear that it will happen anytime soon.
You're a lucky guy because you didn't start your business from scratch looking for capital, while your parents gave you the capital.
Regarding your business that accepts bitcoin payments, I think it is still very difficult in an undetermined period of time, why? Because it is always unpredictable mempool even the surge can go up to 100sat / vB or even more so this will not benefit you and your customers.
Maybe there will be more advice to the lightning network, but is the majority there already familiar with this network? Because in general, it is still the onchain network that they use more.
Regarding your business that accepts bitcoin payments, I think it is still very difficult in an undetermined period of time, why? Because it is always unpredictable mempool even the surge can go up to 100sat / vB or even more so this will not benefit you and your customers.
Maybe there will be more advice to the lightning network, but is the majority there already familiar with this network? Because in general, it is still the onchain network that they use more.
I've been longing to Open my dream business for a very long time now, my dad is an influencial politician in my state. He has companies and some businesses and I've been pestering him to assist me with some funds to start my dream business of having my Own Bar but he never gave me a listening ear. Just on January 2 2024, He sent me #2,000,000 in my local currency which is about ($1560 currently in dollars and 0.037347 in BTC) to start up my dream business.
I was so happy and thankful to him for giving this assistance after a very long time I've been requesting money from him to start up a business.
Now I've furnished and equipped the bar with different brands of drinks. I was thinking of using Bitcoin as a medium of payment for my new business since there have been massive involvement of people from my country in Bitcoin after the initial ban placed on cryptocurrency in my country was being lifted.
My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.
The picture below shows the transaction I received from my dad and the setting of my bar:
please help wish me well in my new achievement for the year 2024.
TRANSACTION OF THE MONEY RECEIVED FROM MY DAD
THE SETTINGS OF MY BAR
Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.
As a Nigerian that I am, I can relate to your story but one thing you should understand is that most of your customers will be dealing with fiat, is only a very few of your customers that will make transactions with Bitcoin, you will always need to do some level of advertisement, letting your customers know that they can also pay in Bitcoin if they don't have fiat. Since you said opening a bar has always been in your mind, if not I would have advised you to use a good part of the money your dad gave you to invest in Bitcoin outrightly, however opening a bar too is also a nice idea, at least you're business orientated. I was so happy and thankful to him for giving this assistance after a very long time I've been requesting money from him to start up a business.
Now I've furnished and equipped the bar with different brands of drinks. I was thinking of using Bitcoin as a medium of payment for my new business since there have been massive involvement of people from my country in Bitcoin after the initial ban placed on cryptocurrency in my country was being lifted.
My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.
The picture below shows the transaction I received from my dad and the setting of my bar:
please help wish me well in my new achievement for the year 2024.
TRANSACTION OF THE MONEY RECEIVED FROM MY DAD
THE SETTINGS OF MY BAR
Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.
My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.
You opened a bar. A bottle of beer is not up to $1. 1 input and 2 outputs bitcoin transaction at 80 sat/vbyte cost 4.79 in fee. We all know that it is not possible to pay using bitcoin onchain transaction for some beers. In Nigeria, naira is more used for payment and using bitcoin is getting more discouraged with the high fee. Although, there are expensive drinks and wines, but fiat transaction locally is instant and of very low cost. On Opay, Kuda and Palmpay and some other means of paying for goods and services, the fee charged for some number transactions per day or per month are free.
You're right, buddy, accepting payments from customers in fiat is the easiest way for you to get their money without having to pay exorbitant fees. However, accepting bitcoin is also a good idea because it can help you acquire some without having to buy it from someone else if you want to invest again, but regardless of how a customer completes a bitcoin transaction for you, he will still be responsible for paying the fees. The best online banks to use are opay, kuda, palm pay, and moni point, since they don't impose excessive transaction fees, and I think that's what most of your customers will use as well.
Nobody wants to be stressed these days, so I'm just saying that since you're starting a business, you should take it seriously in order for it to grow. Even if you want to accept bitcoin right away, I don't think you should; instead, you should wait to see how the business is doing before making such a decision. On the other hand, bitcoin is an unpredictable investment, so don't let the bull run or the increased price of bitcoin fool you. I wish you luck and more clients for your enterprise.
Wow, you've got a fully furnished bar and establishment for that amount? Now I want to know where you're from because I want to live there, I could probably retire with my money there if I wanted to because I feel like you're getting a really good value out there. Congratulations on your part, would've been more awesome if you've done the hardwork for the money but nonetheless, congratulations on the business and may you become successful.
I guess the OP didn't keep his records accurately or the property might be his father's own. There is no way one could pay rent, furnish the bar and stock it with drinks with such an amount. The bar looks more expensive than the money OP claimed was used to set it up. However nothing is impossible, maybe he did most of the work at a cheap rate. 
Wow, you've got a fully furnished bar and establishment for that amount? Now I want to know where you're from because I want to live there, I could probably retire with my money there if I wanted to because I feel like you're getting a really good value out there. Congratulations on your part, would've been more awesome if you've done the hardwork for the money but nonetheless, congratulations on the business and may you become successful.
I guess the OP didn't keep his records accurately or the property might be his father's own. There is no way one could pay rent, furnish the bar and stock it with drinks with such an amount. The bar looks more expensive than the money OP claimed was used to set it up. However nothing is impossible, maybe he did most of the work at a cheap rate. I don't want to say anything on that magnitude because that is what basically and the core reason of the thread and it is obvious. Well there should be no big argument again. Op congratulations for opening a bar that accepting Bitcoin. We can now buy bear with cryptocurrency and I am very happy. Op @Cryptoprincess101 from your historical posting, I noticed that you are close to me, please can you drop the location of the BAR so people that are nearby can visit to have some funs and hangout.
OP doesn't need to give the address of the bar in a public forum, it might not be too good for his privacy. Don't forget that he also claimed to be the child of a rich politician in Nigeria, which means he needs to be conscious of his safety. If you want to patronise his business you could send him a personal message and if he is comfortable with your request, he can send the location of the bar. 
I don't know, but the thing is, you just started your business and accepting bitcoin as a payment may be too early for your business. I get the thought that you want to have other payment options and hold bitcoin, but the thing is, you already just started your business and you need funds or income to circulate in your business money so you can operate for a long time, but like you said, a high transaction fee is a hindrance, right? In my opinion, it is still not feasible for you to accept bitcoin payments. Imagine that someone will pay using their bitcoin asset despite the high fees. Maybe there are some, but do you think it is worth it? I think not, but still, it's not bad to still offer the option of payment; you should not decide without prior consideration of your current standing in your business. Remember, you are just starting, building solid income first, and having the goal of earning the initial capital, or ROI, or return on investment.
Right. Think about sticking with regular payments for now to keep the cash flowing smoothly in your new business. Even though accepting bitcoin sounds cool, those high fees could be a bit much at this early stage. Get your financial base solid before diving into different payment stuff. But don't ditch the idea completely! Just be mindful of those fees while exploring cool payment options for your startup.
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