Post
Topic
Board Bitcoin Discussion
Merits 7 from 3 users
Re: One Month of Accepting Bitcoin for Payment
by
imamusma
on 12/12/2022, 10:33:35 UTC
What you did is one of a great effort to support Bitcoin adoption as a payment tool. As long as you know well how to deal with the price volatility of BTC, using BTC as a payment tool will be safe enough. But don't forget that you need to know the regulation related to the use of BTC as a payment tool in your country. Anyway, where do you come from? This is necessary to know to avoid a legal problem. I also have the intention to follow your effort (accept BTC as a payment tool in our bussiness), sadly it can't be applied here because it breaks the laws.
Regardless of whether he comes from a country that legalizes bitcoin or not as a means of payment, the OP's efforts can be considered as brave efforts. Bitcoin will only be adopted when a person, group of people, or company believes in bitcoin as a secure means of payment.

The OP probably already knows a lot about bitcoin and how to manage its price volatility so that the business can keep going without having to hold all the bitcoin as a long term investment. He should probably consider a quick conversion when someone pays in bitcoin to keep the OP from volatility, but it's up to him how to manage his bitcoins. My question is has the OP ever had customers paying in bitcoin as far as adoption goes?

Regarding regulation, I believe it would be against the law when the government doesn't legalize bitcoin as a means of payment and someone adopts it in their physical service or company. We know the Indonesian government does not legalize bitcoin or crypto as a means of payment, and if the regulations don't allow it then you shouldn't adopt it.