Post
Topic
Board Bitcoin Discussion
Re: My dream business succeeded
by
fuguebtc
on 20/01/2024, 06:49:40 UTC
Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.

congratulations on making your business dream come true. and you are also happy to use crypto as an alternative payment in your business. I hope you don't have difficulty managing your business finances. because it will separate the amount of money that will enter your business between fiat and crypto. If you only accept USDT, management will probably be quite easy to manage. but if it involves Bitcoin or other crypto such as ETH or TRX, whose value can change very quickly, there may be times when you experience financial problems.
in quantity, it may not decrease, but in value, there may be a difference when the market price of the crypto asset you receive changes.

BTC price volatility is a real problem for businesses, and managing it is not easy . I see many people come up with the idea of using bitcoin for their business and stores, but I bet they haven't thought about the problems that will hinder their financial management. Suppose what would happen to their revenue management if bitcoin price fluctuated 20%-30% in a day? People are just trying to use bitcoin as a means of payment for businesses as a temporary hobby, but no one has thought about how bitcoin's price fluctuations will impact their business, and what is the solution to that problem ?

You actually pointed out a point I've never seen anyone discuss before.