Quote from: DeathAndTaxes on July 27, 2012, 08:26:43 PM

Solutions:
small-business with little bitcoin casfhlow --> manually sell coins or use bit-pay
small-business with significant bitcoin cashflow --> use bitpay or develop in-house hedging
enterprise operation with little bitcoin cashflow --> use bitpay or develop in-house hedging
enterprise operation with significant bitcoin cashflow --> develop in-house hedging

The merchant was uninformed... Short sightedness on the part of some bitcoin users doesn't change the fact that trivially easy solutions exist. There is no unresolved problem, simply uninformed merchants.

The unresolved problem in my mind, as a merchant... is "why"? The only reasons why MY small business (You seem to be lumping all small business in the same category. But retail is different then restaurants, which is different the a hair salon, which is different then an electrician, which is different from a computer consultant... graphic designer... the list goes on.) would want to accept bit coins is as a marketing ploy.

I see no technical reason why bit-coin is a better solution to accepting money then my merchant services (I have three for different forms of payment, quickbooks merchant service for instore and paypal and authorize.net for online). in 6 years of business I have only had one charge back, so that is not an issue (for my business). There is even some technical reasons why its worse of a solution. Like hacking (though I dont know if thats still a problem). One might argue that the credit card fees are a reason to accept bit coin. But since the number of people who want to use bitcoin is low compared to all of our customers, saving money on the small number of bitcoin transactions is not enough to sway me to accept bit coins for lower fees.

So... it comes down to this (for me); Is doing all this extra work bringing in a completely separate form of currency worth the added number of customers who would not have otherwise shopped with us... and the answer is "I dont know yet"... Obviously I see value in the project, or I would not be on the forms debating it.

BY THE WAY... I have not seen anyone mention the extra accounting work associated with it... When we did accept them, I had to set up quickbooks to work with two separate currencies. (I think I set up bit coin as a Zimbabwean dollar) So when a bitcoin sale came in I would have to accept the payment as a "check" in our system. Then deposit that check as Zimbabwean dollars into the bitcoin account. Then when I cashed out, I would have to treat it like a currency exchange to record a profit or loss from the rates going up or down as a transfered the money from the bitcoin account into our checking account.

Quote from: SMTB1963 on July 27, 2012, 07:23:23 PM

feel free to point to any spelling/gramatical/punctuation errors in the rest of his post as evidence that he doesn't think rationally. Roll Eyes

Thats hilarious, and im sure there are MANY!