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Showing 20 of 41 results by Memorabilia
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Board Bitcoin Discussion
Re: Why Small Scale Businesses should accept Cryptocurrencies as a medium of payment
by
Memorabilia
on 27/12/2022, 10:30:09 UTC
Quote from: LittleBitFunny on December 21, 2022, 02:19:41 PM
Quote from: Memorabilia on December 21, 2022, 09:33:01 AM

As a small business owner, I too have started accepting crypto payments with CapitalWallet as I really believe in the supremacy of cryptocurrencies as payment method. Getting paid in crypto not only helps in lowering transaction costs but businesses can also attract new customers who are willing to pay in crypto.

As long as you live in a country where cryptocurrency is legal, you can use cryptocurrency for your small business. I'm not sure it will help you reduce transaction costs as it depends on the coin you use, but I think it would be an idea to attract new customers. I really like this idea, it's casual, but for crypto users, it's a stimulus to buy from your business.

But you also need to take into account the volatility of crypto. For example, bitcoin is very volatile, and can go up 10% or down 10% in a short time, so you need to be careful if you don't want your profits to drop.
Bitcoin’s volatility doesn’t scare me anymore as I prefer to accept stable coins as payments. It’s a good option to hedge from crypto volatility.
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Topic
Board Bitcoin Discussion
Re: Why Small Scale Businesses should accept Cryptocurrencies as a medium of payment
by
Memorabilia
on 27/12/2022, 10:21:07 UTC
Quote from: bakasabo on December 21, 2022, 10:25:26 AM
Quote from: Memorabilia on December 21, 2022, 09:33:01 AM
I totally agree with you. When big brands take any stand with respect to cryptocurrencies’ usage as payments, it spur a movement in the market. When Tesla decided to accept crypto payments, its value rose by 15% and when they stopped, bitcoin’s value dropped to approx $45,000. In such scenarios, cryptocurrencies seem a good option only for speculation. But when small businesses start adopting crypto payments, it doesn’t cause such volatility and crypto can be seen as an effective payment method.

As a small business owner, I too have started accepting crypto payments with CapitalWallet as I really believe in the supremacy of cryptocurrencies as payment method. Getting paid in crypto not only helps in lowering transaction costs but businesses can also attract new customers who are willing to pay in crypto.

Are you telling that if a small company starts accepting cryptocurrencies, its value will also raise, like Tesla's? Otherwise I dont understand why you have mentioned it.

As to transaction costs - when you sign a contract with any of your local banks, usually they dont charge card terminal rent during first year, some of them even dont charge during whole period when you are their client. I know that it differs from bank to bank, but they usually charge 0.9% or 1% + 0.01 EUR for each transaction here in Europe. For a small payment it is nothing, but when you make large payments its is costly. But we are talking about small business here. What is an average check in small business ? 10-20 EUR? Now compare 21 cents transaction cost to an amount you will spend to transfer crypto to exchange, trade, withdraw.
No, I am saying that when small businesses accept crypto as payments it doesn’t have a strong impact on its value contrary to how the price rises or falls with any decision taken by big firms.

As far as costs are concerned, I’m paying 0.5% as transaction cost and no withdrawal fees so it’s less costly than fiat payments.
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Topic
Board Bitcoin Discussion
Re: Was Bitcoin project a failure after all ?
by
Memorabilia
on 27/12/2022, 08:12:05 UTC
Not at all. Bitcoin was the greatest success. It was revolutionary, a breakthrough in the finance system. But I’m not sure about the meme coins.
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Topic
Board Bitcoin Discussion
Re: Bitcoin will not become the world currency.
by
Memorabilia
on 23/12/2022, 07:38:33 UTC
Bitcoin wasn’t even created for this purpose. Fiat currency will always remain a part of our economy no matter how potentially Bitcoins grow or get adopted.
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Topic
Board Bitcoin Discussion
Re: Why Small Scale Businesses should accept Cryptocurrencies as a medium of payment
by
Memorabilia
on 21/12/2022, 09:33:01 UTC
Quote from: n0ne on December 17, 2022, 10:53:31 PM
Quote from: qwertyup23 on December 17, 2022, 05:49:32 PM
Quote from: Oceat on December 10, 2022, 05:29:11 PM
What would be your opinion about this, OP?

It's easy to say this and that but once there's a regulation it would hinder them from acquiring cryptocurrency. There are places in the world that doesn't like the existence of crypto currency especially the Bitcoin where no single entity controls it.

If the bigger business firm would have a problem accepting/using cryptocurrency/Bitcoin, then what makes you think the small scale businesses won't have a problem either?

I think the advantage of small-scale businesses is its regulation with the laws. Given that they are only "small-scale," the some government institutions somehow waives the right for them to comply with the existing licenses as a form of support and help. A good example is here in the Philippines, street vendors are not required to file taxes as a form of privilege to the needy.

I hope the government somehow adopts the same concept with cryptocurrency when it comes to regulation. The fact that there is that potential of cryptocurrency becoming an alternative currency for their services/products, the hope still remains that it will soon be accepted as a whole.
Adoption from the small scale businesses will help with the regulation of bitcoin and it's usage around. Same time this serves to be the real growth than some corporate making its entry into cryptocurrency adoption or acceptance of cryptocurrency into business.

Usage and adoption from the low bottom leads to the real growth and progress. In that way the layman's acceptance and understanding about cryptocurrency matters a lot. This is being experienced all around the world with more Street vendors accepting cryptocurrency payments amidst the regulation and legal status of the country on cryptocurrency usage.
I totally agree with you. When big brands take any stand with respect to cryptocurrencies’ usage as payments, it spur a movement in the market. When Tesla decided to accept crypto payments, its value rose by 15% and when they stopped, bitcoin’s value dropped to approx $45,000. In such scenarios, cryptocurrencies seem a good option only for speculation. But when small businesses start adopting crypto payments, it doesn’t cause such volatility and crypto can be seen as an effective payment method.

As a small business owner, I too have started accepting crypto payments with CapitalWallet as I really believe in the supremacy of cryptocurrencies as payment method. Getting paid in crypto not only helps in lowering transaction costs but businesses can also attract new customers who are willing to pay in crypto.
Post
Topic
Board Bitcoin Discussion
Re: Education programs should cover Bitcoin and Blockchain technology.
by
Memorabilia
on 16/12/2022, 05:45:38 UTC
I believe basic knowledge of the financial industry should be given importance to both students who are in university and school. Not only about Bitcoins but students should learn about financial markets as a whole.
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Topic
Board Trading Discussion
Re: Why everybody is panicking ? Its a game of greed and fear !
by
Memorabilia
on 14/12/2022, 10:57:35 UTC
This is true, it is a game of greed and fear. Don't allow fear to take over positive thoughts. It is simple, if you stay patient and alert, you’ll notice that BTC always picks up! Have faith.
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Topic
Board Trading Discussion
Re: What to do when trading gives you heart problem.
by
Memorabilia
on 13/12/2022, 07:27:44 UTC
By applying strong risk measures, traders and investors can lower the chances of risk and save their mental sanity. Taking care of health is also very important. Investing can be stressful but knowledge can override fear.
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Topic
Board Beginners & Help
Re: Bitcoin for beginners: Five tips you should know as a beginner
by
Memorabilia
on 02/12/2022, 07:02:29 UTC
These are some good tips! To add to it, traders need to plan ahead and think long term. Surviving these tense market conditions is not an easy job so patience is necessary. Knowledge will be a stepping block towards profit.
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Topic
Board Altcoin Discussion
Re: What will be the next crypto craze?
by
Memorabilia
on 02/12/2022, 06:54:19 UTC
The gaming craze is going bonkers. Everyone wants to be part of the market. The competition is insane. It’s only going upwards from here for cryptocurrencies.
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Topic
Board Service Discussion
Re: [List] Bitcoin Payment Processors
by
Memorabilia
on 29/11/2022, 10:40:03 UTC
Quote from: Pmalek on November 25, 2022, 09:33:17 AM
Quote from: Memorabilia on November 25, 2022, 09:21:52 AM
<Snip>
BitPay already is in the table in the first post. CapitalWallet and NOWPayments aren't.
What payment processor from Binance are you talking about? I only know of Binance Pay. Is that the one?

Yes, Bitpay is there but shouldn’t it be a ‘yes’ for ‘connects to wallet’? As far as I know they support a lot of wallets including exodus, trustwallet, gemini, kraken, coinbase etc. And apart from that you could check the other 3 I mentioned, Binance pay, CapitalWallet and Nowpayments.
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Topic
Board Bitcoin Discussion
Re: Crypto Education
by
Memorabilia
on 29/11/2022, 08:15:15 UTC
Educating yourself through research and books is necessary before you enter the market. It gives you a better chance at making the right move. Also, when it comes to investing in a coin, you need to do background checks and see if it’s worth holding the coin short term or long term.
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Topic
Board Bitcoin Discussion
Re: Is bitcoin really the future of money?
by
Memorabilia
on 29/11/2022, 08:02:37 UTC
Well, BTC definitely looks like it could reach those heights. It’s just a matter of time, I think and soon it can become a great alternative. There are already so many people interested in investing in BTC. It is also a great long term investment. Many beginners choose to begin their journeys by investing in bitcoin. So, yeah, there is hope.
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Topic
Board Service Discussion
Re: [List] Bitcoin Payment Processors
by
Memorabilia
on 25/11/2022, 09:21:52 UTC
I just found out that these gateways are not mentioned in the list: CapitalWallet, Bitpay, Binance and Nowpayments

Capitalwallet:

Connects to Wallet: Yes
Conversion to fiat: Yes
Lightning support: No
KYC : Yes
Fees: 0.5%

Bitpay

Connects to Wallet: Yes
Conversion to fiat: Yes
Lightning support: Yes
KYC : Yes
Fees: 1%

Nowpayments

Connects to Wallet: Yes
Conversion to fiat: Yes
Lightning support: Yes
KYC : Yes
Fees: Max 1%
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Topic
Board Bitcoin Discussion
Re: What if she receives Bitcoin as gift
by
Memorabilia
on 25/11/2022, 07:46:44 UTC
Bitcoin can be a thoughtful and memorable gift with the potential to change her life. You must give her bitcoin or another cryptocurrency.
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Topic
Board Bitcoin Discussion
Re: No Alternative to Bitcoin, Your Alternative is Bitcoin.
by
Memorabilia
on 25/11/2022, 07:39:01 UTC
Bitcoin is unrivalled in the market. Despite the fact that bitcoin is experiencing a downturn, it has secured a place in the market and has the potential to rule in the future.
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Topic
Board Bitcoin Discussion
Re: What Happens to Our Bitcoin and Other Assets If We Die?
by
Memorabilia
on 08/11/2022, 05:55:56 UTC
All my financial assets will belong to my family after I die. They know all about my trading or investing projects.
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Topic
Board Bitcoin Discussion
Re: Will digital dollar be a threat to bitcoin?
by
Memorabilia
on 08/11/2022, 05:52:28 UTC
Digital dollars are designed to be controlled by the government but that’s not the case with bitcoins.
Bitcoin has its own supremacy. I don’t think the digital dollar will do any harm to them.
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Topic
Board Bitcoin Discussion
Re: What Point Do You Start Accepting Bitcoin as a Payment Option For Your Business?
by
Memorabilia
on 04/11/2022, 12:23:53 UTC
Exactly, most payment processors provide an auto conversion facility so merchants can easily convert the cryptocurrencies received as payments into the cryptocurrencies of their choice. I am using Capital Wallet and they also have this feature which I’ve enabled. So whenever I receive payment in any coin it gets converted into USDT before I get it in my wallet.
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Topic
Board Bitcoin Discussion
Re: Why has bitcoin adoption failed in El Salvador?
by
Memorabilia
on 21/10/2022, 06:30:35 UTC
The people of the country are not ready, the governments of the world are not supportive, and the IMF wants El Salvadore to reverse its Bitcoin legal tender. And El Salvadore, as an economy, is one of the poorest economies in Latin America. It had to happen.