Topic: Stimulate me economically (Read 869 times)
Thats more or less what I was getting at, overhead in fiat, exchanged immediately, with the profit margins kept in BTC. I thank you both for the input.
As someone who accepts BTC for a brick and mortar business, you need to understand that the volatility in price of BTC can seriously harm your business. As the famous saying goes, "the market can remain irrational longer than you can remain solvent."
The point is that when you NEED to pay a bill or buy supplies, you won't be able to wait to make a "savvy" trade into fiat. You'll have to eat the loss and pray that your margins cover it.
I think you should look into selling in terms of BTC but keeping your operating funds in fiat.
The point is that when you NEED to pay a bill or buy supplies, you won't be able to wait to make a "savvy" trade into fiat. You'll have to eat the loss and pray that your margins cover it.
I think you should look into selling in terms of BTC but keeping your operating funds in fiat.
I guess what I meant is that I'd be more comfortable holding onto them and cashing out as needed, such as only for business expenses that had to be handled in fiat. Sure, the price is unstable, that doesn't mean a savvy user shouldn't hold them and sell only when needed or when wise. I bought 20 btc at 100 recently, I sold 3 at USD 135.. I have had friends recently buy .5 for USD 75.. I would be very happy to unload them slowly like this and maximize my margins.. And I'd be very comfortable offering a service I know how to operate for BTC and trading them as such.
Thank you for the input though, I'm familiar with its volatility. I would list prices in USD, what I meant was that the profits from the business should be kept in BTC and only the overhead be changed into USD immediately..
Edit; Added collateral to OP.
Thank you for the input though, I'm familiar with its volatility. I would list prices in USD, what I meant was that the profits from the business should be kept in BTC and only the overhead be changed into USD immediately..
Edit; Added collateral to OP.
This is nice and all, but I'd like to be able to function a bit more detached from fiat, obviously overhead would need to be covered in fiat.. But why shouldn't I print materials myself and send off product for BTC, being confident in them as I am, why shouldn't I reap the benefits of my new knowledge?
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Because even the best bitcoin believers and supporters like http://www.bitbands.com/ are displaying prices in USD.
Bitcoin price is way too fluctuating to be used. Everyone instantly converts btc price into usd to think if it is expensive or not.
With 10 000 btc someone bought 2 pizza in 2010.
Today, you could have buy a house, car, ...
You don't say that 1 btc is a cheap or expensive price. It depends on the date.
I posted a while back about offering screen printing services for BTC. Since then I have done research on operating competently with BTC and feel confident I could offer the service. My boss didn't seem at all interested in being a part of this, other than me converting the BTC to fiat, handing her cash, and basically just brokering work for them while dealing with the BTC myself.. This is nice and all, but I'd like to be able to function a bit more detached from fiat, obviously overhead would need to be covered in fiat.. But why shouldn't I print materials myself and send off product for BTC, being confident in them as I am, why shouldn't I reap the benefits of my new knowledge?
So basically I am seeking funding to turn this idea into a reality. The main startup expenses would be the presses, the screens, the chemicals (emulsion, ink, ect), the light box and some fiat on deck to order the shirts to size/color preference of the customer, with a few other odds and ends I am forgetting at the moment... I have a very empty garage that would supply the shop space, and yes I pay my own rent every month by working! So there would be no risk of me spending the BTC feeding my face!! Haha!
I would be very happy to provide identifying information and personal/business references to prospective loaners with a good reputation/ who are good contributors here, although this all must be shared through PGP encryption as I want to keep my details as private as possible.
The timeline for this loan would be somewhat open ended, I would prefer to pay it back all at once but this really relies on how successful the startup is.. We could make an agreement that if not enough progress has been made towards the whole loan amount in say 4 months that installments could be made monthly. There is also the matter of the interest, this is something I think we should haggle on. I do not want an abusive rate but I also want you to make a fair margin.
I am in no hurry for this as I am here to stay. This is something I plan to pursue passionately and regardless of a loan or not, but a loan could help me get started faster and hopefully give me the edge I need to get the ball rolling in a significant way.
I am experienced in the screen printing trade and I think custom apparel could appeal to the BTC market, I would love to be the one to push this service and share the initial profits with the kind soul who would get me started.
There is also the matter of the actual amount of BTC I'll need. I'll be shopping around very frugally over the coming days to come to a number that would cover all bases. There is a local who is retiring and I believe his whole setup is still for sale, I will try to contact him tomorrow and see what the price would be for all his used gear.. Barring this I would take a guess at $7000 for all the bare-bones necessities for a small shop, more or less should be around here.
Edit; I saw that collateral is king around here after reading through some other threads.. I don't have any altcoins or anything so with this we'd have to get creative.. But I'm not totally broke so I would be willing to offer some form of collateral if we could think of something that would suffice and could be given to you.. Maybe I'll start mining LTC..
thank you
So basically I am seeking funding to turn this idea into a reality. The main startup expenses would be the presses, the screens, the chemicals (emulsion, ink, ect), the light box and some fiat on deck to order the shirts to size/color preference of the customer, with a few other odds and ends I am forgetting at the moment... I have a very empty garage that would supply the shop space, and yes I pay my own rent every month by working! So there would be no risk of me spending the BTC feeding my face!! Haha!
I would be very happy to provide identifying information and personal/business references to prospective loaners with a good reputation/ who are good contributors here, although this all must be shared through PGP encryption as I want to keep my details as private as possible.
The timeline for this loan would be somewhat open ended, I would prefer to pay it back all at once but this really relies on how successful the startup is.. We could make an agreement that if not enough progress has been made towards the whole loan amount in say 4 months that installments could be made monthly. There is also the matter of the interest, this is something I think we should haggle on. I do not want an abusive rate but I also want you to make a fair margin.
I am in no hurry for this as I am here to stay. This is something I plan to pursue passionately and regardless of a loan or not, but a loan could help me get started faster and hopefully give me the edge I need to get the ball rolling in a significant way.
I am experienced in the screen printing trade and I think custom apparel could appeal to the BTC market, I would love to be the one to push this service and share the initial profits with the kind soul who would get me started.
There is also the matter of the actual amount of BTC I'll need. I'll be shopping around very frugally over the coming days to come to a number that would cover all bases. There is a local who is retiring and I believe his whole setup is still for sale, I will try to contact him tomorrow and see what the price would be for all his used gear.. Barring this I would take a guess at $7000 for all the bare-bones necessities for a small shop, more or less should be around here.
Edit; I saw that collateral is king around here after reading through some other threads.. I don't have any altcoins or anything so with this we'd have to get creative.. But I'm not totally broke so I would be willing to offer some form of collateral if we could think of something that would suffice and could be given to you.. Maybe I'll start mining LTC..
thank you
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