Bitcoin and Crypto Thread

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Gox coins just got released. First wave. There have been rumours that there will only be 60k released. But it's the full 140k that's coming out.
 
Cynllo said:
Strange so little has been dumped.

Even BCH not hit much.

And not all has gone to retail.

So that's a good sign.
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It took the ETFs a full week to start moving significantly, and about 60 days for the initial wave.

On that note, the GBTC ETF only holds 50% more BTC than the Fidelity ETF now. I'm sure Fidelity will "flippen" GBTC soon.
 
chance vought said:
www.godblessbitcoin.com

God Bless Bitcoin

God Bless Bitcoin takes a deep dive into the moral and ethical aspects of Bitcoin and the impact that this money can have on the world.
www.godblessbitcoin.com www.godblessbitcoin.com
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I see Robert Kiyosaki is in this film👍🏻 do you think its a good idea to have bitcoin as a payment option method for a business, maybe on a website, as I see this film even has the option to donate via bitcoin?
 
GoodShepherd said:
I see Robert Kiyosaki is in this film👍🏻 do you think its a good idea to have bitcoin as a payment option method for a business, maybe on a website, as I see this film even has the option to donate via bitcoin?
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It depends on the business. In the west, where everyone has a bank account and credit cards, it’s not really necessary.

That said, if I had a business, I would accept it. Give a discount for paying with it (really just do an up-charge for paying in fiat to cover the extra fees and taxes - but don’t call it that). Then advertise on Bitcoin podcasts (start with boost grams) and list on as many apps as you can (orange pill, satlantis, etc). Lightning has good privacy so I wouldn’t be paying or charging sales tax or reporting it as income either. Thats a 7-20% savings for your customers right there.

You might get a few extra customers, or a bunch, depending on your business.
 
chance vought said:
It depends on the business. In the west, where everyone has a bank account and credit cards, it’s not really necessary.

That said, if I had a business, I would accept it. Give a discount for paying with it (really just do an up-charge for paying in fiat to cover the extra fees and taxes - but don’t call it that). Then advertise on Bitcoin podcasts (start with boost grams) and list on as many apps as you can (orange pill, satlantis, etc). Lightning has good privacy so I wouldn’t be paying or charging sales tax or reporting it as income either. Thats a 7-20% savings for your customers right there.

You might get a few extra customers, or a bunch, depending on your business.
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Thats what I was thinking, the same way cash businesses dont report their cash sales for income tax, bitcoin sales would work the same way, yes thats a good idea to charge less if the product is bought through bitcoin its a win win for the cutomer and the seller and you dont have to wait 2-3 days for payments to clear either
 
GoodShepherd said:
Thats what I was thinking, the same way cash businesses dont report their cash sales for income tax, bitcoin sales would work the same way, yes thats a good idea to charge less if the product is bought through bitcoin its a win win for the cutomer and the seller and you dont have to wait 2-3 days for payments to clear either
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Online sales will have more customers but with a problem as well. Since Bitcoin is final settlement (even on lightning) there are no charge-backs. It takes a leap of faith on the customers part to send the Bitcoin with no recourse, and hope they receive the product. This is where the reputation of the business is important.

Also, new layers on Bitcoin, like fedimints could offer credit-card like purchase protection in exchange for a fee, which would provide more options to customers. Spend an extra 1% of the purchase price for the ability to get refunded in the case of fraud, for instance,
 
chance vought said:
Online sales will have more customers but with a problem as well. Since Bitcoin is final settlement (even on lightning) there are no charge-backs. It takes a leap of faith on the customers part to send the Bitcoin with no recourse, and hope they receive the product. This is where the reputation of the business is important.

Also, new layers on Bitcoin, like fedimints could offer credit-card like purchase protection in exchange for a fee, which would provide more options to customers. Spend an extra 1% of the purchase price for the ability to get refunded in the case of fraud, for instance,
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Its just an option, yes I understand that, in South Africa there is so much dishonesty a fraud and scams that some of my customers dont even want to pay me with a credit card they prefer to pay cash in person because they have been scammed before even though I have quite a big following good reviews.

I went to my local hardware today and you no longer allowed to browse inside the shop they closed the entire entrance with steel fence and you have to just order your hardware supplies over the counter because people have been shop lifting to much, thats South Africa for you.
 
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