Quote from: GeorgeJohn on October 11, 2024, 10:48:47 PM

Quote from: Barikui1 on September 28, 2024, 07:16:49 AM

Bitcoin as the first cryptocurrency was not just created for investment purpose, it was actually created as a means of payment and to be honest, the adoption process isn't as fast as expected, but one thing that am very curious about and I have been thinking on how to go about it as a business man while accepting it as a means of payment is it volatility,

As you portrayed above, that bitcoin will be advantageous, yes of course, bitcoin yield positive if you know the systematic ways to apply bitcoin to your investment, their is every tendency that if you use bitcoin as means of accepting payment in your business, it can enhance the success of your business during the time the price will skyrocket or experience a bullrun, the thing is that people always taught of the disadvantages aspects of bitcoin but they don't think of the advantages impact of bitcoin when it come in terms of business, when you have extra funds to run your business, I can encourage you to accept Bitcoin as a means of payment because of its volatility, because once you are a bitcoin holder and probably the price increases in the market, its obvious that you will be a beneficiary of the sudden increment.

Overall, the ultimate goal is that we should try to hold as many bitcoins as possible and hold them for as long as possible to make a profit. If that's what you mean then I think we just need to run the business well and use the profits to invest in bitcoin. We don't need to complicate holding by applying bitcoin to our business.

I don't know what OP's purpose is in applying bitcoin to his business. But if the purpose is just to collect and hold bitcoins, he can buy and hold whenever he wants, he does not need to make bitcoins a payment method for business.

OP, Satoshi created bitcoin as a means of payment but I guess he didn't think it would be so volatile, and I think with the high volatility of bitcoin it's really not suitable as a means of payment or currency. It brings more risks than benefits when we use it as a payment method for our business.