Post
Topic
Board Bitcoin Discussion
Merits 5 from 4 users
Re: I Opened another business were I accept Bitcoin
by
Fivestar4everMVP
on 14/09/2022, 19:12:52 UTC
⭐ Merited by Halab (2) ,ETFbitcoin (1) ,Congyang (1) ,JayJuanGee (1)
there are lots of people doing this Same business in my region but I did not find any one with the idea of accepting and exchanging Bitcoin and other crypto for their customers. So I decided to Open this same business with a different idea of accepting Bitcoin, i think am the first person with this move in the POS business.

Being a Nigerian myself and live in area where POS is a popular business among youths, I find it a bit difficult to believe you are the first person accepting bitcoin in a POS business, 98 percent of POS operators in Nigeria are youths, and more than 80 percent of this youths know a thing or two about bitcoin and crypto currencies, 60 percent of this people have bitcoin logo on their POS banner which means they accept bitcoin or will accept it upon request.

Quote

It took over 35 minutes before the transaction was finally successful and arrived in my wallet. Due to the delay, I started thinking 🤔 its a scam but I was also convinced that it might be a congestion in the Bitcoin network.
There are different modes of setting the miner fee and I think the customer deliberately set the miner fee low which is why the transaction took that amount of time to confirm, see the images below for a better understanding...




My advice is, next time you have a customer who want to send bitcoin to you and receive the cash equivalent, make sure the customer put the MINER FEE setting to priority, and if possible, politely make the customer to wait until the transaction receives atleast, one blockchain confirmation before they can leave.
I will personally suggest you type the above in a paper, print it out and paste it all over your POS shop, make it as a rule that customers transacting in bitcoin must set miner fee to priority and after sending bitcoin,. Must wait for 1 blockchain confirmation before they can take cash and leave.
This is to avoid or bring to the barest minimum, the chances of encountering a payment reversal where Bitcoin sent end up reversing back to the address it came from.