Newbie implementing Bitcoin into existing coin & bullion business. Advice?

ShireSilver

sr. member

Activity: 382

Merit: 253

Quote from: christiancoin on January 06, 2014, 08:25:32 PM

My business is about liquidity, so I will most likely cash out the bulk of my position as I go. I can't afford to sit on anything...including cash. It's really about moving between different assets and acting as the market maker. I keep a small percentage of each exchange and deal in bulk.

If you have an online store, just integrate BitPay.com and set it to pay you most of it in dollars in your bank account, leaving a part of your profit margin in bitcoins. Odds are that you can handle in-store bitcoin transactions with a smartphone wallet.

christiancoin

newbie

Activity: 14

Merit: 0

Quote from: newbminer on January 06, 2014, 08:15:55 PM

If you accept BTC for gold, diamonds, etc. and bitcoin prices fall, you would of lost money and the person you sold to would of gained a lot of profit.

My business is about liquidity, so I will most likely cash out the bulk of my position as I go. I can't afford to sit on anything...including cash. It's really about moving between different assets and acting as the market maker. I keep a small percentage of each exchange and deal in bulk.

newbminer

newbie

Activity: 12

Merit: 0

If you accept BTC for gold, diamonds, etc. and bitcoin prices fall, you would of lost money and the person you sold to would of gained a lot of profit.

christiancoin

newbie

Activity: 14

Merit: 0

I am a long time coin and bullion dealer in Texas. I've decided to exchange Bitcoin (and Litecoin) for gold, silver, diamonds, and coins.

I've been doing my homework...studying what information I can find. I've placed my business on Coinmap.org, and have enough knowledge to now accept coins fairly confidently.

I would appreciate any advice regarding potential pitfalls, developments that might make implementation easier, security, best info to read, etc.... I'd also like to know the best way to get the word out that we do now take Bitcoin & Litecoin as payment.

I'm entirely new to forums and how they work, however, I'm passionate enough about Bitcoin to finally get involved in them. Thanks for any help!

Topic: Newbie implementing Bitcoin into existing coin & bullion business. Advice? (Read 620 times)