Post
Topic
Board Bitcoin Discussion
Re: Northern Ireland Property Developer To Accept Bitcoin As Payment Option
by
Welsh
on 03/03/2018, 22:02:24 UTC
That's fine if they can do it  in the legal way. Accepting bitcoin as a company is really a challenge (if you are outside of Japan), it depends on your book-keeper and on your tax-advisor too if they advise you to do it or not. I can imagine that the owner of a small company let people to pay with bitcoin some smaller amounts and the owner puts his money into the company instead of the bitcoin, but in this case it's not the company who runs the risk of the bitcoin price volatility but the owner himself (and also he can enjoy the benefits of the bitcoin price raise, if it rises...) Bitcoin don't need regulation between people but when it comes about company and people relation, there's a need for at least a basic regulation to let bitcoin reach the mass adoption sooner or later...


Well, if you are dealing with Bitcoin and earn over a certain amount then you'll need to either do your taxes yourself or hire an accountant anyway. It doesn't matter if you are a company or a day trader. Accepting Bitcoin as a business only as a few limitations and concerns, the biggest being exposure and the amount of people willing to use Bitcoin for your services is very limited.