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I'm getting a bit anxious ... In theory it should make the handle of the cup, but I am not sure if it is better to take some profits now or wait. It may even just blast through and keep going 
Maybe I should try one of those https://relixiy.co.uk/ ... a friend just told me to get one to calm down before to make some mistake
Or probably I should just hold and ride this out without trying to trade it. In any case long term it will go much much higher!
Maybe I should try one of those https://relixiy.co.uk/ ... a friend just told me to get one to calm down before to make some mistake
Or probably I should just hold and ride this out without trying to trade it. In any case long term it will go much much higher!
Re: Should I accept Bitcoin for payments on my online store?
Are there any risks (other than the volatility)?
You said it right, every business that start accepting bitcoin payment faced this kind of, say, concern. anyone really going to use this?
Well, know your customer and your country if you know lots of people using bitcoin on your country, then why not give it a try, bit of course, don't just bitcoin for payment, give your customers options for payment.Of course the main payment system will still be with fiat, eventually, bitcoin and cryptos would be an alternative option.
The store is more focused on local sales in the UK for now... as far as I know, cryptos are quite popular here.
I like the idea of being able to get some cryptos (not everything) instead of fiat as payment... it would save me some time instead of having to buy from the exchanges
The one of my main concerns is: how safe is it to accept cryptos as payment on a website?
Re: Should I accept Bitcoin for payments on my online store?
The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.
Sure, the transaction fees are quite high right now... but my products are selling for about 100-150$ so it may even work.
I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.
Is this a good idea? Are there any risks (other than the volatility)?
Is anyone really going to use this?
I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.
Thoughts?
Thanks in advance
Is this a good idea? Are there any risks (other than the volatility)?
Is anyone really going to use this?
I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.
Thoughts?
Thanks in advance
Re: What do you think is the biggest disadvantage of bitcoin?
Hi all!
I am new here, but I have been following bitcoin and cryptos for about 5 years now.
I agree that the Bitcoin transaction fees are quite expensive, but this is also is because of the amount of electricity used to validate a transaction.
Every transaction is consuming about 740kWh! Then you also have to compensate the miners for the cost of the mining hardware, rent of datacentre space, salaries and their gain on the investment. So it's no wonder that the transaction fees are high.
This is also one of the main problems regarding the adoption of bitcoin for everyday transactions: if you do the math, it is simply not feasible (at least as it is right now):
- Credit cards are making about 4000 times the transactions of Bitcoin
- Replacing the credit cards would consume about 300'000 TWh/year, while the current worldwide electricity production is only about 23'000 TWh/year!
If I have to write a list of the 3 main disadvantages of bitcoin, I would say:
1) Power consumption: has an impact on adoption and cost of the transaction.
2) Very slow: this is one of the reasons why I prefer other cryptos!
3) No privacy: this is a fundamental feature that is currently missing for bitcoin. That's why I like Monero.
Except for this, bitcoin still has the first-mover advantage, that makes it very popular even if in my opinion, there are better alternatives nowadays.
I am new here, but I have been following bitcoin and cryptos for about 5 years now.
I agree that the Bitcoin transaction fees are quite expensive, but this is also is because of the amount of electricity used to validate a transaction.
Every transaction is consuming about 740kWh! Then you also have to compensate the miners for the cost of the mining hardware, rent of datacentre space, salaries and their gain on the investment. So it's no wonder that the transaction fees are high.
This is also one of the main problems regarding the adoption of bitcoin for everyday transactions: if you do the math, it is simply not feasible (at least as it is right now):
- Credit cards are making about 4000 times the transactions of Bitcoin
- Replacing the credit cards would consume about 300'000 TWh/year, while the current worldwide electricity production is only about 23'000 TWh/year!
If I have to write a list of the 3 main disadvantages of bitcoin, I would say:
1) Power consumption: has an impact on adoption and cost of the transaction.
2) Very slow: this is one of the reasons why I prefer other cryptos!
3) No privacy: this is a fundamental feature that is currently missing for bitcoin. That's why I like Monero.
Except for this, bitcoin still has the first-mover advantage, that makes it very popular even if in my opinion, there are better alternatives nowadays.