Post
Topic
Board Economics
Re: Is it helpful or harmful to the Bitcoin to offer products/services only in BTC?
by
jaysabi
on 02/10/2015, 02:42:49 UTC
I almost ready to open a small general store and I have been going back and forth with myself on rather its of more importance to make the store exclusively for Bitcoin, include the local currency as well as BTC, or if it makes a difference one way or other? Thoughts? Experiences? Suggestions?

I think another merchant accepting bitcoin can't hurt the bitcoin economy. That said, it will make a difference what you do with bitcoin when you receive it. If you immediately convert to fiat, I don't think this really helps the bitcoin community; at best it's neutral. On the the other hand, I'd be skeptical that a bitcoin only merchant could possibly do enough business to stay afloat. Your best bet to help you and potentially help the bitcoin community would be to accept all forms of payment, including bitcoin.