Quote from: Oshosondy on Today at 06:53:29 AM

Quote from: urbanmerchant on Today at 05:28:14 AM

No Need to Risk Your Money:

Buying Bitcoin through exchanges can be risky, especially for newcomers to the world of cryptocurrencies. Prices can be volatile, and investing a significant amount upfront might lead to unexpected losses. By accepting Bitcoin as payment for your products or services, you eliminate this risk entirely. You control how much you receive and when to convert it into traditional currency, making it a secure and calculated approach to acquiring Bitcoin.

So if you accept bitcoin as a payment option for your business, it is not risky too? But if you buy bitcoin, it is risky? I do not think you understood what you are talking about.

The easiest way to go into bitcoin investment is to buy it.

If you use bitcoin as a payment method and some customers used it to buy and you do not sell it, that means you buy it too.

If you do not want to buy it at once, then DCA.

As for me, I prefer to just buy bitcoin, instead if using it for payment.

Yet you have a crypto gambling site, and I assume a large part of your revenue comes from customers spending or buying BTC...

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Where are your customers going to get their Bitcoin from? Are they also going to have a business running that accepts Bitcoin as payment before they can buy something from you and also pay you in Bitcoin?

Someone has to buy Bitcoin to be able to make payments using Bitcoin, if you don't want to buy but only want to receive that's your choice, no need for others to follow your own ways.

Like I know someone, who haven't for once use his money to buy Bitcoin, he was one of the early miners and till today all his Bitcoins are from his Bitcoin mining operation, he only sells and mine more Bitcoin.

Yours is different, and also impossible because it's a matter of what others want and what you want.

They can get bitcoin through selling products for BTC. It's called capitalism, and it's a system that works. How do customers of the US economy get money to spend in stores? Ideally through selling some kind of product or service and through participating in the economy.
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Well, not everyone is a merchant like you so it's not the best way to get bitcoin although in your case, it would definitely be the best since you're selling goods and services. Most people prefer to earn bitcoin through buying them though as it's the most accessible and more easier way for them to get bitcoin. Another workaround to get bitcoin that's viable in some companies is to ask them to have your salary in bitcoin although it's going to be problematic for the company's payroll and accounting department but that's another story.

Thank you for understanding my hustle as a merchant. I am not saying it's bad to buy Bitcoin through a crypto exchange. People exchange fiat currencies on the Forex market all the time. When people buy Bitcoin it actually means you are betting against the Fiat economy in favor of crypto. All I am saying is the it's not the most ideal way. The easiest way is to sell something and to participate in the economy, especially if you don't have any fiat money to invest in BTC.

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Your use of bitcoin as legal tender for your goods and services doesn't contribute in any way to recognition as legal tender. If bitcoin is prohibited in your country, then your actions are illegal. And if statute btc is not approved in your country, then your actions are in the gray area of the legal system. If the regulator discovers that a very large number of residents use bitcoin as a means of payment for goods and services, respectively, without paying taxes, it will undoubtedly wish to either receive its profit from these operations or prohibit bitcoin. It may wish to take the first path and then , indeed, btc will be accepted as legal tender, but bitcoin owners will lose its advantages and will not differ from the same CBDC. Most likely, the choice of the regulator will differ from the specifics of each particular country.

Yes but if people are transacting through decentralized P2P transactions it's virtually impossible for regulators to track them because they don't have access to the private keys. If it's illegal in your country, and there is an underground black market that uses crypto or Bitcoin, there isn't much that the government or regulators can do about it. This was proven with Silk road that only used BTC as payments. The US government tried many times to shut them down but they just kept making new .onion websites. Now just think what will happen if there is an underground economy where the participants number more than 1 million...

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Accept Bitcoin as payment for products or services is another way to get bitcoin by buying, only in a different way. This method is called bartering or mutual benefit. After a transaction occurs, you will be able to resell Bitcoin to replenish items that have sold out.
There are other ways that are more profitable than what you described above, you don't need to buy Bitcoin to get Bitcoin or you don't need to open a service to receive Bitcoin from your customers. Start contributing to the forum to reach Full Member rank, you can apply for one of the paid BTC signature campaigns, if the manager accepts you, then you will get Bitcoin without having to buy.

Well said, I completely agree with this. Although, as an urban merchant and a crypto entrepreneur I enjoy the thrill of sales.

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In short, in short, you can actually have Bitcoin without spending any money, if for example you have a business, you can do it as a merchant and add Bitcoin as one of the payment options to the goods you sell.

But if we look at it, it doesn't seem to make any difference that you buy from the exchange via P2p. Because the bottom line is still the same, the Bitcoin was still bought using fiat, the money bought with Bitcoin that was paid to you did not just come from you.

Bitcoin is a virtual commodity like gold. It can't be pumped by FIAT money and gets it's purchasing power from cost of extraction and supply vs demand. The bitcoin that came to me was mined off a blockchain and distributed in the crypto economy. Some people acquire Bitcoin through currency exchange i.e. buying it, and this is not wrong. However, I believe that being an actual participant in the crypto economy is better healthier for Bitcoin, and that is what I am trying to encourage with this post. I want more people to adopt Bitcoin and crypto as a payment method.

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Again, this post will be suitable for bitcoin discussion board which I think you should move it here .

Accepting bitcoin as payment for your goods and services is a nice idea and you got some important point in your post but have you think about it negative side as well? Like the negative impact it will have on your business? Well, I will talk about few now.
firstly, if your business is about selling goods then this will certainly not work for you well because you will need to buy goods after your stock finish and you will pay them (by bitcoin if they are accepting or by converting it which is another waste of time) to buy new goods. At the end of the day, you'll only have a meager quantity of bitcoin which you will feed from it too. it will take you a decade before you accumulate a reasonable portion of bitcoin. In this case, you can only buy bitcoin to aquire more bitcoin.

Secondly, you'll lose some customers who are not familiar with crypto. If you are living in a country where bitcoin is not legalized, it is another challenges. You might wake up one day and see that you've killed your own business by looking at your wallet and see $0.05 as your balance just like Luna did and you won't be able to buy goods again. Lol Grin

The point I'm trying to make is that, you should consider the negative impact as well.

Well said, and no economy is perfect (especially the crypto economy). However, I am convinced that crypto economies are more stable than FIAT economies. Just look at economies that are backed by a solid commodity like gold for example...

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This is a good thought at first glance but you are missing something big here. If people send their btc directly to the merchant, they will still need a third party to protect their deal. And third parties mean another expense. That's why people use credit cards more than crypto because if they somehow get scammed the cc companies will take action. You can of course pay an escrow to have the same effect but not every merchant agrees to use them. Still though, leaving crypto exchanges out of the picture is always a good idea. They don't do no good to nobody.

You are so wrong about this my friend. The blockchain eliminates the need for trusted third parties. Please watch this video: https://youtu.be/YIVAluSL9SU

I also suggest that you go read Satoshi's white paper.

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The method of obtaining Bitcoin by receiving as payment only applies to people who live and live in a country where Bitcoin is legal tender as legal tender.
Those who don't want to hold large amounts of fiat currency that will experience a decrease in value, accepting payment transactions with Bitcoins is a great thing.
Business people like this can use it for long-term investment.

How to get Bitcoin as you mentioned, not all of them are acceptable because there are some people who don't want valuable assets like Bitcoin to buy an item, instead of using Bitcoin they prefer to use fiat currency or USDT because Bitcoin as the best asset will be very it's a shame if it's spent on daily needs.
I, who live in a country where Bitcoin is not legalized as a means of payment for goods and services, also feel that it is very unfortunate to use Bitcoin to shop for goods because Bitcoin is an expensive coin in terms of price and getting it is not easy.

In my country, Bitcoin isn't legal tender, yet I am participating in the crypto economy via P2P transactions, and the government can't do anything about it. I am libertarian, I don't trust the same corrupt government that prints the money....