Quote from: leonair on January 19, 2024, 02:37:26 PM

Quote from: MJSO22 on January 19, 2024, 02:27:18 PM

Quote from: Cryptoprincess101 on January 16, 2024, 11:37:02 AM

I've been longing to Open my dream business for a very long time now, my dad is an influencial politician in my state. He has companies and some businesses and I've been pestering him to assist me with some funds to start my dream business of having my Own Bar but he never gave me a listening ear. Just on January 2 2024, He sent me #2,000,000 in my local currency which is about ($1560 currently in dollars and 0.037347 in BTC) to start up my dream business.
I was so happy and thankful to him for giving this assistance after a very long time I've been requesting money from him to start up a business.

Now I've furnished and equipped the bar with different brands of drinks. I was thinking of using Bitcoin as a medium of payment for my new business since there have been massive involvement of people from my country in Bitcoin after the initial ban placed on cryptocurrency in my country was being lifted.

My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.

The picture below shows the transaction I received from my dad and the setting of my bar:

please help wish me well in my new achievement for the year 2024.

Yes, this is a very good decision because it will increase the use of Bitcoin and people will know better about Bitcoin and people will be more enthusiastic about Bitcoin.My question is that if you take payment in bitcoin but the price of bitcoin is not always the same some time it goes up a lot and some time it goes down a lot how do you manage the loss.I support your decision.But if you are able to do loss management. Then you can start it.

op can manage this loss easily. after received bitcoin payment for his sales he/she will convert it to stable coin like usdt. so it will not a big issue for them. What will become a problem for him is the law of his country. I don't know exactly what percentage tax is levied on bitcoins by his country's law and whether bitcoin is officially allowed in his country. Because if the answer is taxed on science, it will be very troublesome for him to receive Bitcoin payment and if Bitcoin is not fully legal in his country, he may face various legal problems. So if he can manage all his problems then I think he should do it

I think there are a lot of things you would have to consider when making a Bitcoin transaction, well there's no issue if the receiver would eventually converts it to a stablecoin to avoid the volatility that could affect the value of Bitcoin, but the concern is much worse that can cause of huge losses in the business. In the process, there would always be a fee even converting small amounts, even for any transactions to make. Just imagine you would be buying a $1-10 amount but the average Bitcoin transaction fee at the moment would be $15, what do you think is the possible outcome? Also if there are a lot of customers and all of them pay in Bitcoin, I think that might cause traffic and the transactions would be stuck.