Bitcoin Forum

Probably many people has invested in bitcoin and they got profit and some also got loss for the investment, also some people have converted their business payment with bitcoin instead of making payment with fiat currency but nevertheless you can not decide to follow a steps of someone who benefited with bitcoin and open a shops and demand payment with bitcoin,

So myself I have decided to launch a vehicle parts shops in my city by January 2024 and I have decided to use Bitcoin as one of the criteria of payment because of what I'm seeing for bitcoin increment and my country that permit for cryptocurrency transaction in my country, secondly I want to start having my own bitcoin with the payment of my vehicle parts, I don't know if mempool of bitcoin I have being hearing will still continue by next year 2024 because I sense that it's what will bridge people not to make a payment with bitcoin if i open by January 16th, because all the necessary arrangements has already put in place and  awaiting for January 16th to open officially.

Don't expect fees to go down any time soon. If prices continue to go up, it's almost guaranteed that people will be transacting more and more. You're likely going to end up accepting BTC payments for wholesale orders.

OP you need to use what is obtainable now to draw your analysis of the decision you choose to make, though the congestion is mempool will reduce from time to time but I don't see it dropping anytime soon and January is almost around the corner so you should have an alternative should if the congestion and high transactions fees continue till the date you wish to establish the use of Bitcoin for you business so that you don't find it difficult to relate with customers who will be ready to patronize you through the use of Bitcoin.

Where are you based by the way? Just don't commit the mistake of launching your vehicle parts shop that only accepts Bitcoin payment. If you do that, your shop might have few to zero customers. But if you accept Bitcoin payment alongside fiat payment, card payments, and other online payment options, then there's no problem and you are probably good to go. The mempool is still congested with more than 300,000 unconfirmed transactions. Fees are still high. This might discourage your customers to pay in Bitcoin.

Nice plan OP. I love the optimism and wish you the best returns from your investments, not only in BTC but in being responsible enough to understand the type of investment you want to opt for.

It is however one thing to note that action speaks louder than words and when it concerns investment in BTC or cryptocurrency, you should have a means you earn from, because the crypto market is still exposed to market volatilities and price/fees flunctuations and I don't think you want to be losing money you don't intend to at the start of a new business.

We don't know what is going to happen in the future. But if bitcoin transactions increase day by day, the fees will remain like that and maybe it will increase further. It depends on the volume of the transactions. The ordinal things keep growing every day and the number of BRC-20 tokens and their transactions also increasing every day. A couple of Ordinal coins have been pumped in the last couple of weeks. SATS and ORDI are two of them. These two coins have been listed on Binance and since then the number of transactions has kept increasing every day. I hope more ordinal coins won't pop up in the coming weeks. The network is congested at this moment.

OP It's great that you want to introduce Bitcoin transactions in your business activities. I want to say something about the payment method. Of course, you will consider customer preferences and prioritize multiple payment options to accommodate their needs. While accepting Bitcoin alongside traditional payment methods may be beneficial for some customers, make sure you're not excluding those who still prefer traditional payment methods. The high transaction fees currently associated with Bitcoin may actually deter some consumers from using it as a payment method. Maintain a reliable and trustworthy payment service to earn the trust of customers to operate a business.

This is a good initiative OP. Accepting Bitcoin as an alternative mode of payment is good, even though people will rarely use it as the field of your business is not really related to Bitcoin or your customers are  not that familiar with Bitcoin, it's still good because Bitcoin will have free advertisement, it  will help the community and the people.

It is expected that bitcoin’s price will go up by the next year so most likely the mempool will continue to be congested even next month and maybe even increasingly so it would be hard to directly buy or purchase services from you if they have to wait for so long or pay higher fees it would be a bit inconvenient

However i do like your business idea it is just not that possible right now to execute if we are talking about accessibility maybe you can use other altcoins although it will still be quite a risk because not everyone might have your preferred altcoin

Nobody can assure you when Bitcoin transactions' fees are going to decrease. It can cease soon or not, so you shouldn't launch your business relying on Bitcoin payment method to work. There are no problems in telling your customers you will accept payments in BTC, you can even put some Bitcoin stickers and banners in your place to raise awareness, but in every cases, Bitcoin is just another payment method you will accept.

Focus in your business launchment and let payment options in second plan. Being paid in fiat or Bitcoin isn't what matters right now, rather it's the efficiency and promotion of your shop which will boost your business and bring more customers and money inside. Good luck, I truly hope you succeed!

Profits and losses are part of the cryptocurrency market. Those who buy at the right time get profit and those who enter at the wrong time definitely lose. However, the risk of loss in Bitcoin is low, but we can lose from our mistakes. If someone opens a shop and demands payment in Bitcoin, then of course it is possible where Bitcoin is legal, but in countries where Bitcoin is illegal, this concept is impossible. It is very good that Bitcoin transactions are allowed in your country, whereas Bitcoin is not legal in our country.

Your idea is very good, because Bitcoin growth is definitely expected after the halving next year. I see some issues for payment in bitcoin like, not everyone may have bitcoins to pay for vehicle parts. Another reason could be that just as you think the value of Bitcoin is going up, other people who hold Bitcoin will surely be aware of it.If your aim is to promote bitcoin then this is the best plan, but if your aim is to earn bitcoin then you can always buy from the market instead of opening a shop and get it.
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If you want to launch a vehicle parts shops and want to use Bitcoin as a means of payment, you also need to add stable coins or altcoins as other coin options. That serves to overcome high transaction costs like now. People can choose to use stable coins if they mind the transaction fees of using Bitcoin.

You can still own Bitcoin by buying Bitcoin with stablecoins that are already in your wallet. Your business is going well, you have stablecoins and you can also buy Bitcoin. You can use that stablecoin to do DCA. So there are two benefits you receive from using Bitcoin and stablecoins.

And when Bitcoin transaction fees have returned to normal, you can make Bitcoin your main choice as an alternative means of payment. Of course, besides using fiat.

Here's a tip to you OP, don't advertise your service that you're accepting bitcoin when the price is this high and the potential that it goes higher is going to be high because you're not going to get big value because I assume that you're not going to quickly sell those bitcoins, maybe you can say it here and there vut to actively tell them to pay you is a thing that you should do when the price is really low and the overall market sentiment is so low and bearish, there you can get more value out of your services.

That is the good side that many people in many countries hope for when doing business with a new model. At least if you are the first in your city to do this, it will be an attraction in itself.

That's your first challenge, I don't think potential customers even tolerate today's crazy network fees unless you offer a discounted price for a certain purchase amount.

It's a good thing that you accept bitcoin as payment at your shop, but you need to look at how your customers are, whether they use bitcoin or not. If the majority of your customers don't use bitcoin, it means there's no point in installing a payment gateway using bitcoin because no one uses it.
And what are the regulations regarding payments with Bitcoin in your country? does the government allow that or not? because in many countries, the government prohibits people from replacing fiat payments with Bitcoin and violating this can result in fines. That's why you need to look at the government regulations in your country, don't let this cause problems for you.

Nice call op.
Since you have said that your government does agree to cryptocurrency transactions in your region, I say it is a good call. As you won't have any issues with the authorities. however, the current conjestion of the mempool may act as an indirect setback to your decision.

This is because, customers may not want to make payment with fees that obviously seem uneconomical. And just like mk4 mentioned, you may actually end up using Bitcoin for mainly bulk and wholesale transactions.

Anyways, if all goes well and the mempool becomes less conjested, I suggest you put a discount on payments make in Bitcoin. this would motivate customers to make most transactions using Bitcoin instead of fiat. Like I mean who doesn't like a discount 😁

It takes seriousness and patience to make a profit from Bitcoin investment, the very fluctuating price gives investors hope and anxiety. Many investors have succeeded in reaping large profits from Bitcoin investments, they always prioritize patience to achieve a level of success in investing.
Accepting payment in Bitcoin for every transaction on the vehicle parts you sell is not a bad idea. The current problem is that transaction costs are very high, making it difficult for customers in your shop to make payments using Bitcoin because if it is converted to fiat money they will spend more money than the actual price.

Op, when you mentioned "criteria," does that mean you'll only accept payments in Bitcoin? If that's the case, I'd suggest reconsidering. Considering the current congestion in the Bitcoin mempool, it's uncertain if fees will decrease soon. So, don't let Bitcoin be the reason your plans face obstacles next year. There are other payment options. If you're planning to use Bitcoin, it should be an alternative, not the only method. You can't expect all your customers to learn Bitcoin for purchases. Consider adding other cryptocurrency like stable coins with lower fees compared to Bitcoin. This will promote cryptocurrency payments, and your store will become known for these payment methods. Goodluck with your business and I hope it all works out as planned.

Well, if you are really serious about accepting bitcoin as one of the payment options for your goods, then you will have to find an alternative way of receiving bitcoin payment from customers without having them pay exorbitant fees all in the name of to have their transaction to you confirmed quickly.

And such alternatives is to consider setting up a bitcoin lightening Network for receiving Payments from your customers. If you ask me concerning the current bitcoin mempool congestion, I would tell you that, it's not looking like something that will get decongested any time soon, January 16th is just a few days away, and we have a major bull run coming, there is a high chance that the congestion could get worser, thereby increasing transaction fees even higher, it's time for businesses accepting bitcoin or looking to accept bitcoin as payment for their goods or services look the bitcoin lightening network way, for a better and smooth experience accepting bitcoin as payment for goods and services.

It is good to know that you have thought about the advantages of Bitcoin going up in value and that it is allow to use cryptocurrency in your country. But it is important to remember that some people have made money from Bitcoin but there are others who lost money too(talking about traders not holders).

And When it comes to the mempool of Bitcoin it is little bit hard to know that what will happen with mempool in 2024.  It can make transaction fees higher and take longer to confirm. By the way It is a good idea to keep up with what is happening in the Bitcoin network so you can make sure your customers have an easy time paying.

And regarding Fee so I will say that this is really difficult to predict because there are Ordinals are involving and due to these Ordinals the fee is going up significantly. Soon or later the f*kng ordinals will not exist anymore then the fee will automatically go down. In the mean time I will you should take local currency from your costumers if they can't pay the high fee while making transaction in Bitcoin. And you can convert the local currency in Bitcoin and can hold.

Cryptocurrencies will continue to improve day by day in the future and Bitcoin will reach its highest growth target. Because in the modern era, now people will be touched by modernity, so it is very important to use bitcoin at this time, the more people use bitcoin, the more the number of transactions will increase and the mempool will continue to increase. A few coins in particular have pumped so their transaction fees increase slightly as transactions increase. So OP you are going to open a store that's great but you need to see if Bitcoin is legal in your country. If bitcoin is valid then you can openly accept bitcoin payments.

This is the challenge for you with a vehicle spare parts store that accepts bitcoin payments but the mempool is really unfriendly, I'm sure your customers don't want to pay more than $10 per transaction, even if it's $2 I think your customers might be a little reluctant.

Then there are suggestions with lightning network payments, as we see in some Europe that has implemented it, but I don't know whether the Lighting network will be more widely used than onchain or not, because the lightning network is not yet fully perfect, there are still some shortcomings that I know.

Unless you prepare other altcoin options, and bitcoin payments are still there but it's up to the customer to choose which one.

Glad to hear you plan to accept payments in bitcoin, this is a good move especially if your country legalizes transactions using bitcoin. The problem is that transaction costs are still quite high, in my opinion it's just a matter of time until transactions return to as low as before. Apart from that, because you also accept payments in fiat, there is no problem because your customers can use fiat if they object to bitcoin transaction fees which are still quite expensive.

What you are doing indirectly is promoting bitcoin and this is a small step that will bridge between people starting to know bitcoin and being able to use bitcoin for their needs. Hopefully you can do and apply it well to your business. Goodluck buddy

Even as that there could be cryptocurrency payment option not only bitcoin because with the current network congest people would start asking over other network to pay with just as what is going on currently here in the forum where must of the manager's are looking for the other alternatives to pay their participants, if you only leave the option of bitcoin without including other currencies then i must say you will face a serious downtime for the network to scale through those your transactions or those that wants to pay with bitcoin. Even as that at the meantime you can use fiat to start with maybe when the network is free then people can start choosing that option as means of payment.

I would even consider it a bad idea and that he is destroying his business if he just uses bitcoin as the sole means of payment for his auto parts store. Even if the mempool is not congested, bitcoin transaction fees are cheap, I believe it is still not common for people to use bitcoin for payment in most countries. Bitcoin should just be an alternative means of payment alongside fiat, it cannot completely replace the role of fiat money these days and we need to accept that reality. If OP does this then he is really hindering his own work.

it's good if emotions are controlled. for example, we are ambitious people who want wealth quickly. People like this are not very suitable for investment here, even when I tried at the beginning I always lost money just because I sold too quickly. when I held it went down but after selling it went up. This is just a matter of trust in predictions and patience in consistently taking profit targets. As long as emotions are stable then it's time for crypto investments to run smoothly, this is very good for people who are early adopters who will definitely be helped a lot by that.

For me as an investment, Bitcoin was actually great when it comes on investing, its probably one of the one investment that could easily gives you profit if you are lucky, and compared to other cryptocurrency Bitcoin was probably the safest cryptocurrency investment that you could do.

But when it comes to using Bitcoin as a mode of payment in a business I do think that it is not yet ready for that since there are so many things that is not right until now, like what you mentioned the fees have a lot of problems, especially today where the fees could skyrocket when the network was congested if your going to use that on your business that could easily be a problem in the future, Also if your going to accept Bitcoin as a payment that is just way too risky since its a business you always need to have liquid cash if something occur, but if they use Bitcoin as a payment you cant really just sell it immediately since that is just going to lose you money, accepting Bitcoin as a payment means all of that payments are going straight as your Bitcoin invement.

Every person who has made a new step in their own business must have previously given good consideration to the step they are creating. As you have said, there are some people who have converted their currency to Bitcoin as a form of their business in terms of investment and there are also those who have directly invested in Bitcoin without having to make any form of conversion. And for those who want to accept Bitcoin as payment in businesses they manage themselves, this is something that is very common in several other shops in the world.

It seems like you have a better plan for yourself at the start of next year and also want to make a big change by accepting Bitcoin into your business payments. I also feel quite impressed with this because I also have a hobby of modifying the motorbikes that I have so that all the motorbikes that I use now are really no longer in factory standard condition.

I’m wondering: are there really people now who will pay with Bitcoins? Knowing the commission prices. And then, people who own Bitcoin probably purchase it as an investment; that is, they are interested in long-term holding. Are auto parts such a scarce commodity that you need to spend bitcoins on them?
OP, no offense, but I wouldn't buy with Bitcoin. Now it's more of an investment, but you, OP, can continue; everyone has the right to a dream.

It's true what you say, of course someone will think twice about transacting this asset with fees that are still quite high. Personally, of course I don't want to pay for Bitcoin, because I know this asset is very, very rare, so now it's better for me to hold it for a longer period of time. Of course, as a customer, it's better for me to just use cash, because the cost difference is enough to buy another product.

For Op, the breakthrough is very good in the Crypto currency payment industry, but you need to remember that if you make transactions with customers, what do you do with Bitcoin and hold it longer or what?. As we know, prices fluctuate greatly. What if prices fall sharply, Do you have emergency funds to cover product shortages in your store?

I think you are taking a good initiative and it seems like you are also very enthusiastic about Bitcoin, so you plan to use Bitcoin as a means of payment or transaction in the vehicle spare parts shop that you will set up.
And I hope that the problem of increasing transaction costs will not be an obstacle in carrying out your initiative, the important thing is that you have introduced Bitcoin by implementing alternative payments or transactions using Bitcoin in your business. And hopefully your business will soon be carried out according to your plan, and without any obstacles, and regarding the problem of expensive transaction fees, we all hope that this problem will recover quickly and return to normal.

current fees are not very friendly to senders. just imagine for now, if you make a transaction, you will be charged a fee of 8 dollars and i'm not sure that any of your customers will want to pay fees of that amount just for their transaction. unless they send bitcoin via binance pay, perhaps fees won't be a problem for them because it's free.

and you can consider opening payments for altcoins. because with the increasing number of crypto payment options for your customers, maybe they will be more interested in paying with you in crypto. you can use binance or other exchanges for these payments and easily convert them directly to bitcoin if you want. but if that's too complicated for you, sticking with bitcoin payments is fine too.

It's okay that you will accept Bitcoins for paying for those vehicle parts that you will sell. That's just gonna be another alternative for your customers but whichever they prefer to pay you then that's okay. You'll just have to display the QR on your shop and put the logo of Bitcoin because it adds exposure to Bitcoin there and who knows if you'll be able to meet other people that are bitcoin investors there too.

You can just give them a warning that paying right now is going to cost them some bucks. And it's up to you whether you'll add also some other payment options for altcoins or stable coins and then when you think that the time is right, you'll be the one to convert it to Bitcoin if ever you think that you'll be investing on it because everyone is aware of what's coming to Bitcoin.

With the high cost of bitcoin transactions now, people feel uncomfortable using bitcoin as a means of payment. They would be happier if they could pay using fiat and keep their bitcoins as an investment.
Later, after transaction costs decrease, they will want to use bitcoin as a means of payment.
But a bitcoin investor would rather keep his bitcoins than pay for what he bought, especially if he doesn't have a lot of bitcoins.
But that is @OP's wish and hopefully his customers will use bitcoin to pay for what they buy.

It's always nice to see businesses adopting Bitcoin as a form of payment. Your shop sells parts for vehicles, so I assume transactions won't be particularly small? In that case, on-chain fees might be okay, although it can still be inconvenient for people to wait for a transaction confirmation if you simply use a BTC address. So you'd need to figure out for yourself how to do it best. Maybe an off-chain solution, maybe pre-payments online, maybe zero-confirmation transactions below a certain amount of money.

Of course, those who took the risks and didn't care about all the FUDS that have been happening in the crypto market throughout the years are living their happy life right now because they are patient and know exactly what to do whenever bull runs occur. in the end, they are the ones who always get high profits from that event and when the price of bitcoins goes lower, they mostly buy a decent amount of it and repeat that cycle of investment until they get enough profit to withdraw it and enjoy their earnings. It's as simple as that but most people don't want this investment so they often fall into the trap of altcoins where they want to rush their profit instead of waiting for it rightly.

The OP can do that as long as it fits within the legal framework in the local area, but it seems from time to time they are also widely accepting bitcoin. But I have to share that paying with bitcoin has its own challenges, and don't expect too much, but a far-fetched ideal is more realistic as long as it's convenient for businesses and customers. I also encountered many similar topics and most of the disagreements between the parties made the payment solution not always convenient and preferred. Many people know about bitcoin and gradually switch to it in the form of assets. It's not universally applicable, but there are still solutions you can do with small deals, but you won't always meet customers who are in tune with this ideal.

Anyway, this is only a small part of your business. The more important thing does not come from this issue, but focuses more on the quality of service, whether the payment solution is there are so many contributions? Let's be more honest with this issue.

By opening your doors to Bitcoin, you're not just accepting a payment method, you're planting a seed of innovation that could blossom into something truly groundbreaking. This is a visionary move, and I applaud your courage and foresight!"

But, accepting Bitcoin can be a strategic move for your vehicle parts shop, but it's best approached with a balanced, data-driven approach. Start small, offer multiple payment options, and prioritize compliance. Remember, it's not just about hopping on the crypto bandwagon; it's about understanding your customer base, managing risks, and ultimately, making your business thrive.

Looking into Bitcoin for your auto parts store? I applaud your boldness! Don't get ahead of ourselves. Understanding the Bitcoin mempool is essential. This is where transactions are pending confirmation. Yes, crowds cause delays and higher expenses. The huge "but" is that this doesn't mean the end for your business because Bitcoin is a revolution, not simply a currency. Its worth is in long-term investment, not quick transactions. Your strategy to accept Bitcoin is sound - you're investing and earning. As governments legalize crypto, you're on the correct route. Be ready for turbulence. It's part of Bitcoin, but the upside? Huge.

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Final tip: keep educated and flexible. Crypto is changing fast, so should your company plan. Watch Lightning Network and other off-chain developments. They could revolutionize transaction efficiency. Remember, Bitcoin success requires patience and agility. You have the vision; now monitor the pulse. Welcome to business's future!

If we cannot control our emotions in investing, we will be very greedy both in investing and in other things. Of course, it is very important to be able to control our emotions so that things that we don't want don't happen when investing. In my opinion, knowledge is also very important in making investments because without knowledge, of course we will not be able to hold the investment and will tend to sell more quickly because we don't understand well what we are doing.

You believe how strong our understanding of bitcoin can provide confidence to get involved in it and that is how one makes plans when they want to own bitcoin.
Bitcoin is quite risky and will also be quite profitable, these two patterns will be arranged and run when someone knows what to do while in it.
If our sense of humor is the same as the way we carry out fixed investments, we will continue to laugh when we see that the amount of our holdings is almost far from the basic capital when the market is badly corrected.
Unfortunately, people who don't understand Bitcoin's journey in this condition will panic and try to do something that will ultimately result in losses. Remember that this asset is quite volatile and depends on how one handles it properly.

When you decide to accept payments using bitcoin, you need to pay attention to how your customers respond and if they accept it well then continue with your plan.

It's great to see your forward-thinking approach in embracing Bitcoin for your vehicle parts shop, OP! Adapting to cryptocurrency trends can indeed open up new opportunities. Make sure to stay updated on the evolving landscape, and I wish you success with the official opening on January 16th!

It is good step towards “collecting” bitcoin but to earn profits you still need to do one vital step: hodl. Those who you mentioned in the post are the long term holders of bitcoin whose getting benefits today. In similar ways you will be earning profits only after some time is passed. No one can predict what is the price in January 2024, no one knows what it would be right after you collect few million sats or whole bitcoins. The price at which you are receiving them is equally important to know. Many investors intentionally buy bitcoins at different periods by looking at the prices. They try to do DCA so that they will keep the BEP way lower. In the meantime its but obvious bitcoin will play its crucial role of getting valued more and more. :)
Just keep that math in mind so that you can have this payment system set properly.

What you’ve thought about bitcoin increment over the next year is true and accurate but if you want to check the mempool transaction fees rate before embarking on this payment method, you won’t get to be accepting payment with bitcoin because as the number of bitcoin users is increasing, we will see more transactions coming into the mempool which will automatically increase the transaction fees of bitcoin. I will advise you to use an exchange wallet for funds you’ll need to be sending out and in during transactions and keep long term savings in your external wallet, that will make the business flow faster without bothering too much about the transaction fees.

It's not a bad idea to introduce the acceptance of Bitcoin into your business, but the challenge is that the fee is high, and some of your customers will not agree to pay in Bitcoin because of the high transaction fee. Normally, accepting Bitcoin in business places helps create awareness. Since I introduced accepting Bitcoin into my business, most people have been convinced to invest in it, and some other people have also developed an interest in it. Your idea is cool, but the fee is not friendly. My advice is that, since it's the first time you are introducing this payment method to your business, you should also add some other crypto like BNB, USDT, Ethereum, TRX, or Doge. Though it is based on preference, if you don't want, you can stick to Bitcoin. Despite the fact that the fee is high, there are still people covering the fee; if you have such customers, they will pay the fee. For me, I am considering stopping accepting Bitcoin for now until the fee becomes normal.

OP, if you consider accepting Bitcoin payments in your business, you may still have the need to convert to fiat any time you are buying more products for your business. Now that the Bitcoin fee is high, if you accept other cryptocurrencies for payment, you can still trade in Bitcoin if you want.

You are a business operator and receiver of Bitcoin transactions and payments from your customers, will not want to spend like $20 to move your bitcoin too.

You receive your bitcoin and if your business does not have deep budget, you will have to sell your bitcoin to have cash for purchasing necessary things for your business. It will be your pain to pay high transaction fee on Bitcoin blockchain if mempools won't become less congested.

interesting!

Hope you know that before thinking of including the use of Bitcoin as one of the payment channels in your business, you need to have carried out thorough research t know if the prospective customers in your chosen field of business knows about Bitcoin, have bitcoin and will be willing to make purchase with their bitcoin.

You should understand also that even though I have huge amount of bitcoin, I doubt I would want to give it ou in exchange for any goods I intend buying. Have you considered that even if your prospective clients have bitcoin, some of them would wand to hodl it and wouldn't want to use it for any mode of exchange.

You have to do the needed research before making your final decision.

This will actually be good for you, your business and the citizens of your country as well because bitcoin will gain more strength for it adoption and use by the people and it will be fast increasing when they are not having that fear if making use of bitcoin in the country.


That will not be the reason to make people not to use bitcoin in making transactions, the mempool challenge is still very small to what may be the reason why people may be discouraged about using bitcoin for making payments, there are alternatives to paying high transaction fee.

Having various means of payment is a way to make the payment process easier and to encourage purchase by customers. This is why options are always encouraged. Having bitcoin as one of the payment options will create awareness for people who own bitcoin and maybe due to emergency situation of things are forced to buy vehicle parts with some of the bitcoins they are trying to keep. These people will no longer need to go through the rigors of changing btc to fiat first before they can pay you. They will be able to pay you directly.

Investing in Bitcoin can result in both profit and loss because the market is about both profit and loss. The market doesn't just go up or the market doesn't just go down. If there was such a rule that the market would go up only one season and go down only one season then maybe no one in the world would be poor and everyone would be rich by investing. The market is changing every moment, now the market is in one position, in a few days the market may move to another position. If you try to know enough about the market, you may be able to predict the movement of the market, but predicting the movement of the market is not very useful in investing because the investment is usually planned for a long period of time. And in the short term plan little profit I sold my coins it is usually called tedding.

If you have carried out your physical and environmental evaluations of your environment and you see that more Bitcoin users is those who can buy your parts and have Bitcoin as payments and at the same time willing to bear the high fees using Bitcoin instead of the local currencies, because at the moment,  Bitcoin transactions is higher in fees per transactions compared to using your fiat currency.
This and many more are what you should consider before choosing Bitcoin as the primary payment method for your business, but if you use Bitcoin as an alternative it could be better, the reason being that not many use or know Bitcoin, and secondly not all will be willing to pay fees on Bitcoin payments for goods in your shop.

Firstly, I wish you success in your business, and I hope there is increasing interest in the new store you have launched. The positive aspect is that your country allows the use of Bitcoin, putting you in a legal position to utilize Bitcoin as a payment method for your store freely. Indeed, I don't know how much vehicle spare parts cost in your country, but if the prices are significantly lower than Bitcoin fees, it would be a considerable loss for the customer initially. As someone suggested, you could wholesale items using Bitcoin or adopt it as an alternative payment method without abandoning it. You may also consider using BTC on the LN network to receive payments or even receive payment in stablecoins on economic networks with low fees and less congestion. Afterward, you can buy Bitcoin and invest without burdening the customer with fees and the current network congestion, which will be resolved soon with sufficient solutions in place.

Op are you dreaming or it is a fictional story with only one character which is you. I don't think anyone will pay with bitcoin in you plan of work or your vehicle parts business instead they will still pay with the fiat which is perfect and preferable payment method for now . Okay let's assume that the customer will pay with bitcoin but who is going to beat the transaction fee? Is it you or the customer? Op this your story is not real and can't be realistic but a fiction.

And if you want to acquire Bitcoin then it is very simple, just use DEX to purchase the Total number and send it to Electrum wallet if that is your favorite wallet. But if you are planning to sell your parts with bitcoin, guy that will be a big dream for now. The truth must be told.

Whether or not it is good when talking about investment depends on our own perception because it is only about the view whether being in bitcoin is good or not.
For those of us who are in bitcoin then surely this will be something very good but different from people who are still new to bitcoin or don't like bitcoin then indeed this could be the opposite of the arguments we have so in this case I think it depends on where we are and depends on how we take a stand from the bitcoin we have.

Opening a business by accepting bitcoin as one of the payment options still looks good and until now there have been several threads and several people who do that but indeed for now you also need to be aware of the large transaction costs that are owned so there needs to be consideration about the problem of transaction costs at this time but indeed this option is certainly very good to do. It just depends on where you live too because in the end when you apply bitcoin as an alternative payment from the business you are in a place that is not too friendly with bitcoin I don't think it will run smoothly.

OP, I was thinking that you would still gonna accept the payment method of fiat instead of Bitcoin because of the way you sounded, it is just like you can not decide to follow the steps of others who accept bitcoin payment in their business. But here you are doing the same thing in your about-to-launch vehicle parts shop by 2024. I am kinda surprised anyway that you want to follow the same step as others that you want to condemn indirectly at accepting bitcoin payment instead of fiat as a mode of payment in their business. Nevertheless, every one of us is free to choose whatever payment method we want in our business as long as bitcoin is legal in our country.

Though I welcome and appreciate accepting Bitcoin as a payment method, due to the recent congested network, it has become hard to accept Bitcoin. Because even though you have been trying to accept Bitcoin in a real store, there is a chance of double spending. Transactions are going to delay a lot, and transaction fees is too high as well, and the sender has to wait a long time to get transaction confirmation on the blockchain. I don't see any possibility of seeing low transaction fees and fast transactions very soon. However, you may start accepting Bitcoin payments and share with us what difficulties you are facing. So, based on the situation, we may find a solution.

The congestion now should not make someone to dislike bitcoin or make a transaction with the person that want to do transactions with bitcoin, its obvious and understanding that bitcoin is something that is good for investment despite the high fee of the transactions I think that many people do cherish and ensure that they have transact with bitcoin and also make a profit,  when you reason the congestion I don't think that it have to do with establishments of business with options of bitcoin payment

OP you want to start bitcoin transaction in your business it's not a bad idea it's definitely a good idea. But currently the Bitcoin mempool is very high, there is no guarantee that the Bitcoin mempool will decrease anytime soon. But in this situation if you start your business only bitcoin transaction then maybe you will not get very good response in that case you must also start payment method in unique currency so that customer can make you unique crypto currency transaction very easily. I always wish you good business.

It's good that you want to start using bitcoin as a means of payment in your new shop starting next year, but to be honest, if you do that, you have to checkmate how the fees are by that time, because with the recent fee increase, it's not profitable for business people to still be accepting bitcoin as a means of payment.
 
Who will pay the high fee? Will it be deducted from the purchase amount, or will the customer have to pay it, or will you guys have to send it using a low fee, for which there won't be any guarantee as to when the transaction will be confirmed?
 
Unless you are ready to use a centralised means of accepting payment, maybe at the end of the day or week you can send the bitcoins over to a private wallet. If not, right now, fiat and altcoins are the best option to be used to accept payment in any sales shop right now; it's cheaper.

The reason for the growth is the adoption of the bitcoin by the new users around the world.If the trader want to earn some extra money from the cryptocurrency,the bitcoin will be the first option for them.Because of the longer term volatility and sustainability, the bitcoin market was the wider and decentralised in nature.Eventually the transaction fee of the bitcoin was increased because of the demand,it was the master move to get your valuable bitcoin for the fee.

If you calculate the current transaction fee,the minimum the bitcoin trader should possess 12$ as fee to the faster transaction.This move by the exchange owners leads to spoiling the decentralised behaviour of the bitcoin in current market.If you able to exchange the coin using the swap option will be better to use to reduce the transaction fee.

Bitcoin is able to open up business opportunities for anyone, many people have started their business by providing alternative transactions using Bitcoin, but until now the problem of high transaction costs still continues to occur so that most people are better off holding onto the Bitcoin they have

It would be much better if you continued to add investment assets to Bitcoin rather than opening a business by providing transaction services using Bitcoin

100% No. He clearly mentioned in his post that Bitcoin is going to be one of the payment methods. When he said "One of", you should understand that this is not going to be the only payment method. I won't discourage him if he wants to accept Bitcoin as one of the payment methods. He may pick the lightning network as an alternative but not many people lightning Bitcoin network yet.

I agree with you in the other part where you mentioned the mempool congestion part. Yes, indeed, spending more than $10 as a transaction fee is not worth it. No one would pick this option while they have many other options like cash payment, card payment and others.

Well, its a good thing that you added bitcoin payment as a mode of payment in your business. I guess you know what you are doing, and I don't think you didn't think through this decision. The thing is, it's good that maybe some of your customers will be curious and will try to use the crypto currency payment. As we know, bitcoin is very famous these days, so it is possible that you will meet someone or a customer that has been in the field of crypto currency also. I hope the transactions go well and good luck to your business. My only concern is: what will you do with the bitcoin that you have received from crypto payments? Will you hold on to it or will you do something with it, like invest in something so that it will grow? I would like to know and am curious because I see that you have more plans than your current business, and that's good.

I appreciate you for accepting bitcoin as payment in your business, I think for you to make this decision it means your business is doing well to relate it with bitcoin which is another form of investment.  The price of bitcoin is going high and we are heading into the bull market and it is not a bad idea to invest in bitcoin.

Mempool is just the challenge that investors are facing right now with bitcoin,  but I hope this challenge won't last long for investors to be able to make transaction freely without difficulties.

In my opinion, it is better to advertise it no matter what is the value of Bitcoin because many people are not yet familiar with it. So if they are able to learn and master it as early as possible, they can also start using it immediately. Bitcoin is very unpredictable, so I won't say that when the price is high, it will continue to increase more. Actually, it is more prone to dumps.

There are still services that let you sell your Bitcoins automatically right after you have received them. The only thing is that when the price of Bitcoin is high, its transaction fees can also be a little costly, and this can still prevent some Bitcoin users to make a transaction.

For now, it is better to use existing payment methods even if your goals are very good there are several things you need to consider because congestion will make your payment not in ideal conditions and the costs are high so the payer definitely doesn't want to pay a large fee which will be detrimental to him. regarding regulations in your country is it allowed to make transactions using bitcoin? because operations also need to be supported by your government policies. As a citizen, of course you must be able to balance legal transactions and currency recognized by the state. The country needs an economic turnaround that involves transactions using fiat.

It is not wrong and quite reasonable not to make transactions to any exchange at this time if it is absolutely not necessary to do so. Because when you remember that transaction costs are still quite high, of course everyone will think several times about carrying out their transactions at this time so the solution to keep holding on to them is quite wise in my opinion.

Opening a business by providing transaction services using Bitcoin is actually not wrong if it can make things easier for business owners and also the customers of the business itself. But if this is still quite difficult for customers, of course only the customer has to make considerations about making transactions, while the business owner only needs to wait and serve those who come to make transactions. Although it is also not wrong to continue adding Bitcoin investment assets while running any business for now.

This is a good move for a Bitcoin holder to take, because by accepting Bitcoin as a payment option, when your customers make payments with it, you're also using the opportunity to accumulate it in readiness for the coming ATH bull run. Although you'd need to purchase your vehicle parts from the manufacturers with fiat currency, so that payments made in Bitcoin by your customers can be solely hodled for bull run, this is just an advice on my part. You however have to consider the Bitcoin high transaction fees, this can be a disadvantage for now since the fees is still quite high, and introducing lightening networks and other alternative means of evading the high fees can be cumbersome, because we don't know for sure when the mempool will dicongest.

You are pretty lucky if your country permits cryptocurrency transactions. because a lot of countries don't do that. which is slowly changing but still.
Now Lets talk about accepting bitcoin as a form of payment for your vehicle part shop. like most of the people said here. Bitcoin's transaction fee are very high and is not suitable for everyone to pay in Bitcoin. Paying in Fiat is more convenient for normal people.
You can consider accepting other coins which have low transaction fee.
but if I wanted to own some crypto currencies or Bitcoin. I would simply buy that using the fiat money I earned from my Shop.

It is quite thoughtful of you to device a means of of acquiring and earning more Bitcoins but you also need to consider how to grow your business too if you are actually serious about it. For a business that is just starting,  it is not adviceable to make strict rules like making Bitcoin a criteria for payment, it will be best making it an option considering the fact that Bitcoin is yet to gain general acceptance.  It depends on your country and the level of acceptance there anyway. Again, the transaction fees which is currently high might be a discouraging factor for prospective customers. While trying to have enough Bitcoins to invest, also focus more on how to increase your customer base and earn more profit.

We're incharge of  making Bitcoin accepted and popular in countries provided the government hasn't banned Bitcoin in our jurisdiction. You have done well by planning to accept Bitcoin in your shop, although it's a small gesture but it'll contribute its part to the adoption of Bitcoin in the society. If everybody does what you're thinking of doing we'll have achieved Bitcoin been accepted locally and then what'll be left is for the government to give it's approval.

As for the mempool, the congestion would keep been there until the craze around the BRC-20 tokens on the Bitcoin Blockchain is reduced but it seems more tokens are been launched so we won't be seeing reductions in the congestion soon. Ordinals are trending at the moment, probably other NFT/tokens will get hyped as ordinals keep becoming a success.

The high fees of Bitcoin would definitely affect people that have interest in paying in Bitcoin but there are alternatives that you can use to keep receiving payments especially when they're small payments that paying fees for will be weird as the fees will be bigger than the amount you're paying for the goods that you want to buy or service you'll be receiving.

Op, this is a good initiative and you shouldn't allow the mempool congestion and the high transaction fee discourage you from integrating bitcoin as a payment option in your business. I believe a solution will be reached soon concerning the ordinals spams and the transaction fee will return back to normal. So get your ads running in other to create awareness to your customers, when the ordinals attack have been addressed, they'll patronize you.

Fees and mempool congestion won't be a problem if you do it in a smart way. You can accept various cryptocurrency and altcoins as a payment method. (Be sure to choose something that is reputable and has a good history. Could be a stable coin or something like BNB, ETH, SOL etc.)
Your main goal for accepting cryptocurrency should be for people to be able to pay without any hassle with cryptocurrency. When you have various options for payment with cryptocurrency, people will show more interest in it. And when the payment is done, you can always take all the cryptocurrency to a single exchange wallet and convert it into something that you want to hodl. Let's say it's Bitcoin. You can convert it to Bitcoin and hodling it as long as you want.

People have invested in bitcoin, and at the same time, some people have sold their own investment. That is how the market works, in my opinion. When other people are selling, people are buying. However, what you said is right, and it's a new thing that some people may gain and some people will lose. That is how it works, we all know, but we pray to always be on the safe side.

However, people who make a decision to receive payments in bitcoin while selling goods or services for people are at their own choice. We can’t force people to do that because they accept bitcoin in the region. Not everyone has knowledge of bitcoin, and not everyone has bitcoin to purchase something and pay back in bitcoin. So you can see that if a person wants to do such business, they indicate that they accept bitcoin and fiat as a method of payment. If not, I don’t think that business will go well for such an investor or businessman.

Well, network congestion can really be a pain in the a*s, especially in this context where you’re dealing with a customer, and not a friend. With the way it is currently, it would make more sense if what is being paid for is worth a little bit more, then one can try overlook the fee. About holding Bitcoin, don’t forget that you will need to exchange some Bitcoin and buy back the products you sell to your customers. So it’s not as if you get to save everything Bitcoin that comes in. Just make your plan well and you can find a suitable percentage you can leave as Bitcoin investment.

I respect your decision because you want your auto parts store to take payment in Bitcoin. This decision will definitely drive you to improve because you need to present all kinds of information about Bitcoin to your customers, especially if you add more online business to your store. On 16 January 2024, you should continue to do the transactions in the correct manner. You must take care of the trust mempool and transaction fees so that you don't face losses sooner or later. Grow your business further,

That's right, that's the way it is. As the price of Bitcoin rises, more and more people will make transactions with it when they know that they have a good profit to be made from it and they are satisfied, and that's when they decide to sell.

I just hope that when the value of Bitcoin increases, there will not be an issue with its bitcoin fee in the bitcoin network as well, as we know that when the network becomes congested, there will suddenly be a crisis in the fee because of ordinals and inscriptions.

Due to the fact that there are problems in the network, it is worth having alternative options in another crypt, the idea is good with opening a store and paying for goods in Bitcoin.
But carefully study the market in your area, how solvent are those who will pay with cryptocurrency? Perhaps this is an alternative savings? not a payment method for other people. In any case, this is an interesting function and news about your store will spread very quickly.

And if the local media writes about it, good advertising is guaranteed for you, good luck to you.

With each passing day, the number of people who are interested in investing in Bitcoin is increasing, especially with the approaching Bitcoin halving, and after that, the bull run is the next thing that everyone expects, which will continue to increase. raising the price value of Bitcoin in the market.

And that's what always happens every time there is a halving in Bitcoin, but this time there are actually more people who are interested in Bitcoin, and not just investors but also big companies known all over the world came in to invest in Bitcoin because of the Bitcoin spot they expected.

It's been a while since I checked the mempool to see what the level with the crisis in the network,  I have stopped to move coins around for now until this whole network thing settle down and normalizes again and I am worried for those businesses who just started accepting Bitcoin before this network crisis began.

I am curious to know if there are coping with the fees or they have suspended the Bitcoin payment method for now dye to the congestions.

Although we have to be settle between two things,  and that are,  either we accept for the customer to pay the fees or use another available payment method, I the company take it upon themselves to settle the fees,  I have seen companies such as stake.com paying for player extra charges aside from the one from the casino.

Good luck with your car business. Accepting Bitcoin for your business is a good idea, as long as you have done your homework and you're very sure that it is a good payment method to consider, then you should go with it.

If you have such a plan then I think it will be a great initiative for you where you will accept payment by Bitcoin at the store. Moreover, if you want to accept payment with Bitcoin, you may face a lot of problems, especially high transaction fees. But I think if you take such an initiative it is good for you, but many people will hesitate to pay there due to high transaction fee in Bitcoin. However, since it is January 2024, there are currently not too many transaction fees if you wish to complete this initiative. However, since you will officially recognize your bitcoins, it is the best decision for you to accept payments in your store. This plan of yours was really interesting and if you can continue with one you will definitely get good profits in the future when the price of Bitcoin goes higher.

You should consider using the Bitcoin Lightning Network for payments, because it is much faster than Blockchain transactions at the moment.

Also consider offering some kind of discount to people, if they are willing to pay with Bitcoin to incentivize the adoption of Bitcoin. (Example 15% off for people paying with Bitcoin)  

You have said my mind, because as far as the bitcoin price continues to go up the price of all cryptocurrency will follow the same dimensions and I believe that the price of bitcoin is something I know quite that will continue to increase to increase and the fee will follow the same step of increase...let us flash back and realise that when the price of bitcoin was low many bitcoin transaction does not stay up to some minutes before it die off, secondly the price of bitcoin works in accordance with the price situation of bitcoin market.

I would also advise the same, use Bitcoin Lightning Network for instant payments plus lower transaction fees compared to what we experienced using Blockchain transactions. That way, users will feel more convenient to pay bitcoin.

However, having discounts is a good option but it should also be limited. Let’s say the first 20-30 customers per day will get a 15% off so that everyone will be encourage to buy at your shop using bitcoin payment.

But from what I see, Lightning Network is still not popular and widely used even among veteran investors like us, let alone newbies. The idea of accepting bitcoin as a payment method is becoming a challenge as bitcoin transaction fees are getting higher and higher. I think if OP wants to invest and hold bitcoins, it would be much better if he bought them directly with fiat instead of just accumulating them through the route of using bitcoins as payment for his store.

I have ever known Bitcoin as one of the best investment means of the 21st century and has helped further in cross-border payments and even intradealers' arrangements that are making payment settlements easy for people. I have seen people giving the best testimonies of it and the transaction fee is still low even with this congestion compared to other means of old payments like the use of Western Union and Bank wire transfer and others. This makes me appreciate Bitcoin so much as there is nothing you can use fiat to do that it will not do or at least try to do.

About your plan, well, it is a very good one, and I hope one day too, I can move further in my usage of Bitcoin and create a business around it. But be sure that you understand the nitty-gritty of what you are about to do, you must know the feasibility of your customer accepting it, the risk involved due to the volatility of Bitcoin and the best gateway you use for it so that it will not be a discouragement for your customer's and intending ones.

Above all, for now, Bitcoin's new network is not just encouraging and businesses are moving away from it (for transactions, and not investments). Many companies mailed me late last year about their low preference for Bitcoin transactions due to how the fees are high and their customers are complaining. So if reputable companies that have used Bitcoin for over a decade could be complaining now, you might want to think through accepting it at this time for the sake of the businesses and that of your customers. This, of course, unless they can be using intra-payment options with the same exchange as yours that charges no fee.

Yes I agree with your decision. But one thing that bothers me is that January 16th is very close. Will the traffic be reduced in such a short time? There are fears about this. You're going to increase usage by reducing customer transaction fees. But the market is not always the same. You should be aware that the price of any product is not stable.

Yeah high fees truly hinders our plans on using Bitcoin as payment method that is why some businesses are hesitant to accept Bitcoin payment. I think the best thing to do right now is wait for the opportunity.

Even if LN is really that been used, i do have doubts that people would really be actively spending their coins on buying up something. Why? they do know that profit chances and gains could really be that
possible on just simply holding it for long term on which this is something that we cant really be able to deny yet we've seen on how far it did been able to reach up. Yes, its great that it would really be seen
into those payment options but i do highly doubt that people would really be that actively be using their coins on which on buying up something because as much as possible they would really be
accumulating it as much as they can. Even myself would definitely be doing this since we know about its potential..

You cant really just that afford yourself on spending into those coins if you do know that you can earn more money on just simply holding it for more years to come.
It is really just that a waste if you do just basically be using it on something which you can actually do it on using fiat or other possible methods or common ways.
Its not really that worth and this is something that mainly you do have in mind.

I agree with you. In fact, here we always support the idea of using bitcoin as a payment method, but we ourselves would not use bitcoin for payment even if we came across a store that accepted bitcoin. This is a reality that many people are in denial about because we all want to accumulate as many bitcoins as possible. No one will spend bitcoin when everyone knows about its potential and more specifically, the new bull season is coming closer than ever.

Honestly, it would be embarrassing to say outright that I support ideas like the OP's but I also wouldn't use bitcoin to make purchases. It's really a waste of bitcoin when we can do it with fiat.

Have not you consider about the transaction fees nowadays? because if does then you should
know that the business will hardly operate if you are even charge higher than the amount you needed to send or receive ?

Hard to accept now but this is the problem using bitcoin in such time , when there are congestion
everything is affected and most specially to mention about sending and receiving so try to look again in your business plans
because you might get hurt about  the fees.

It's up to people whether they want to make payments using bitcoin or not and it has nothing to do with how they decide on that desire. The question is whether bitcoin is legal for payment processing in your country and whether the understanding of the people around you about bitcoin is strong enough to contain positive value. If you are not able to convince buyers of this, customers will try to find other places to shop and in the end Bitcoin will not be something that can change your life.

In a general context Bitcoin looks quite perfect as an investment step, but not all places are suitable for use as a means of payment. This is where we need to understand the conditions, not try to force something perfect to become more complicated. Pay attention first to whether using payments in bitcoin can benefit your business, if not why force it?

Wow, that's great, buddy. Everyone will want to follow your lead because you have a well-thought-out plan and demonstrate that in addition to conducting business, you will also find a way to make your company better. Taking bitcoin as payment in your business is also a smart move because, should you decide to invest in bitcoin, you won't have to go back and buy it; as long as your country permits it, you are free to do so. Furthermore, even though you are aware that the price of bitcoin can fluctuate at any time, you shouldn't panic and, in my opinion, you will make a significant profit.

I think that soon all countries will accept bitcoin because I have seen some that I had thought would not allow it, but have now decided to do so. If bitcoin is accepted everywhere, even investors and those who are unaware of it will be inclined to invest in it, making bitcoin one of the best investments available anywhere in the world in the near future.

I understand your Bitcoin concerns. It changed foreign payments for me, too. Low costs and ease of usage make it superior to older approaches. Bitcoin stands out because of its versatility and cost-effectiveness, right? It liberated me during numerous transactions.

Have you tried using Bitcoin for business? I have. Attention to detail is key. You must know your market, recognize the risks (particularly Bitcoin's price swings), and choose a user-friendly payment gateway. A delicate balance, yet possible. Being open with clients about volatility and having a backup plan helped.

I see businesses abandoning Bitcoin for transactions as a rising inconvenience, not a catastrophic problem. Fees can be discouraging, but the big picture is important. Bitcoin's network is improving, so Im optimistic. Second-layer systems like the Lightning Network could revolutionize transaction efficiency. Staying educated and adaptable is key. Businesses eager to innovate may benefit from Bitcoin's future.

but for now you can only use Lightning network to save from fees but the problem is that only small amount per sending allows in LN so that how much you   can afford every dealings from your business.
but I still wish him best for His car business also mate.
there are altcoins that taking place in some businesses now as a back up currency in case that congestion happens and we will be having trouble in fees like now.

If bitcoin transaction fees do not increase significantly and remain stable , I will support this idea. But given the current situation and bitcoin transaction fees not going down anytime soon, I don't think using bitcoin as a payment method will benefit OP's business. In my opinion , if OP wants to own bitcoin. It would be better if he used fiat currency directly to buy bitcoin instead of accumulating it by using it for his business. To be honest, bitcoin is more suitable as an investment, a store of value than a currency or means of payment . As long as we cannot solve the problem of uncontrollably rising transaction fees, there is no point in trying to turn bitcoin into a payment method.

If that is only a payment option, that won't bother you too much and the business continue. We can't still expect nor do we know how long the fees remain high but putting on the situation with OP, I would still pursue the plan and open the shop as scheduled. It was just an option for the clients if they used Bitcoin or fiat money as it was still accepted.

But having on the current situation of the market fees, that hold people from using it, $2-5 is huge enough to pay for a service.

I don't see any possibility of people going out of business with Bitcoin. Since you want to accept Bitcoin as money, you will definitely benefit if you are careful about gas fees. I support this auto parts store of yours, you have taken a great step that will set you up for even greater growth in the future. But with proper patience you will be strong with your business bitcoin trading and you will be able to make yourself known as a successful trader.

The best thing he can do is accept altcoins currently and convert them into Bitcoins as soon as possible. In this manner he can be saved from the high fees. Next I would suggest OP to carefully track all the Bitcoin payments. As there are some wallets present with which you can reverse the payment. At last don’t put a lot of pressure on you. Just focus on the business. You can also integrate Bitcoins at a later part of the work.

This is a really good and strategic plans for your business as it's obvious you want to allow for some form of flexibility around your business and this will really encourage for growth but then the challenge with the Bitcoin method of payment will have to be with the little inconvenience that comes with the high fee and the time for confirmation of transactions due to the current congestion of the Bitcoin network and it's not looking like it's reducing anytime soon.

The congestion on the network due to recent news around Bitcoin which has further increased the rate of transactions carried out on the network and once and the mempool may take a long time before it gets any lower so if you can getting a solution around it then you are good with your business.

For some folks, it's a dream investment, a ticket to riches beyond belief. Others see it as a risky rollercoaster, best avoided. Both sides have a point. If you're already invested, congrats! You're riding the wave, and it can be a thrill. But remember, it's still a wild ride, so hold on tight and keep your eyes peeled for danger. If you're new, take it slow. Do your research, understand the risks, and don't just jump in because everyone else is. It's not for everyone, and that's okay.

As for accepting Bitcoin in your business, it's like opening your doors to a whole new world of customers, but it comes with its own set of challenges. Transaction fees, scams, and changing rules are just some of the hurdles to jump. So, is it good or bad? It depends! Just like the horse, Bitcoin can be a powerful tool, but only if you handle it with respect and caution. Remember, there's no "right" answer to whether Bitcoin is good or bad. It's all about your perspective and your willingness to take risks. So, keep learning, keep questioning, and make the choice that's right for you.

There is nothing wrong with accepting Bitcoin anywhere as long as the recipient is able to accommodate and store it very well in their own wallet. Because the person who has to think about fuel costs is the Bitcoin sender himself, not the recipient like the repair shop owner, unless the recipient immediately wants to move it to the exchange to change it.

If you look at the increase in the price of Bitcoin which almost touched $49K today, I don't think there is anything wrong with applying this to a workshop with more than one goal. This means that the repair shop owner can make a profit from Bitcoin and can also make a profit from the spare parts that are bought and sold there, so it really is multifunctional for the shop owner.

Some people who have been able to accept Bitcoin as an investment of course have been able to understand well the benefits they will get from investing in Bitcoin and understand the risk of loss if they make mistakes in investing so they have been able to decide to invest in Bitcoin and for those who consider Bitcoin investments that should be avoided, they never really do thorough research about investments, so they consider Bitcoin an investment that should be avoided.

Yes, what someone said is very true, when you are new to Bitcoin it would be better to do research about Bitcoin and don't invest if you don't understand it well.

In my opinion, the good and bad of Bitcoin really depends on the understanding we have, if we don't understand the risks and decide to invest then this is clearly a very wrong choice because it will very likely lose the assets we have in the investment so it is very important to keep learning even though we have invested.

When a Bitcoin user makes this investment his only hope is that he will profit from it. However, if you invest, you must accept the fact that at any time you may fall into losses due to market volatility, you must be patient. You will get profit in this business when you take action and try to hold it for a long time. Anyway if you have such a plan then you are going to have a good business. If your store accepts payment with Bitcoin and it gets more attention from people then you will be able to go further in the future. Since Bitcoin is approved in your country so if you do this business it will not be bad but you can profit in future. In 2024 if you can build a good amount of fund with payment by bitcoin then you will get huge profit from this business in next bull season.

OP, welcome since you are interested in starting your business bitcoin payments. Moreover, you can start Bitcoin payments because your country has legalized the use and investment of Bitcoin and you also want to do your business transactions through Bitcoin, so in this case you are quite aware of your business. But before starting bitcoin payment, some things must be important because since you will take payment in bitcoin, but in that case, if Mempool increases, there will be trouble in your payment. Suppose a customer buys a motorcycle parts from your store and the price of the motorcycle parts is $5, if he wants to pay with Bitcoin then Mempool will not want to pay $20 as extra fee if he increases. In this case, your business transactions must be done in fiat currency.

Me myself is owing some shops and I have started to accept crypto as payment, but using Bitcoin as a payment method does I find very bad at least for now and last months when the fee's is high and a transaction can take long time, example Solana the fee is almost nothing to zero and the transaction is instant. So I think it's much better currencies to use as payment methods than Bitcoin.
And I am sure the best currency for accept daily payments haven't been launched yet.
Bitcoin is amazing as investment as you saying "Bitcoin investment is kind" But as payment method I think it's the opposite for many obvious reasons.

Best regards
/ BabyBandit.

How's it going OP, you've got 3 more days and you're about to open your shop. Fees are still quite high for simple purchases because it's $2.28 - $2.52 per transaction and a customer won't be liking to pay that much with Bitcoin. We may have arguments these days bitcoin being a payment but many will agree about it as an investment. Anyway, it doesn't change the feature of it but the crowd will likely going to be using it as is depending on what's usable about it based on the situation.

It is great news that you are opening an auto parts store. But you would definitely be wrong if you want to buy and sell only with Bitcoin without any other fiat money system. Because small merchants will often charge you a fee when paying with Bitcoin. Bitcoin fees are highly volatile. Sometimes the fee level is so high that it is not possible to make small payments with the fee.

Your initiative is very awesome, I wish you success. At the outset I will say that the loss portion of Bitcoin investment is very rare. It is obvious to every investor that there is volatility in Bitcoin investment. After investing in Bitcoin, if the investor sees that the price of Bitcoin starts to fall continuously. Then if that investor gets frustrated and thinks of selling, then that investor is likely to incur losses. Success in Bitcoin investing requires patience and long-term investment. Long-term investment can definitely take you to the pinnacle of success.

You have probably already completed all the tasks to run your business. The most interesting thing is that it is the best venture for you to accept the price of your store's products through Bitcoin. As a result of your initiative, more and more people will be attracted to Bitcoin. And the use of Bitcoin will increase many times more. If Bitcoin was legalized in our country, I would have taken such an initiative.

The lack of appropriate understanding is the main cause of investment losses for many Bitcoin users. One will seldom succeed in the cryptocurrency business without having solid understanding of Bitcoin and cryptocurrencies in general. This is because knowledge is what leads you and always indicates which path to go. Some People are rarely mistaken when making decisions, which is why they always find it hard to succeed in their Bitcoin investments since they don't know which wallet to use to get coins properly secure and when to buy and sell but someone who is with proper knowledge will always find easy to be making profits for it Bitcoin investment.


Introducing Bitcoin as a payment option in your store could be a fantastic idea! It might bring in more customers since many people read to be spending their Bitcoin. When your shop accepts Bitcoin, it also helps to spread the word about this digital currency. However, there's a challenge right now. The fees for processing Bitcoin transactions are quite high. This means it could be difficult for your store to receive payments in Bitcoin because of these fees. Sadly, it doesn't seem like the fees will go down anytime soon. So, while it's a cool idea, you might want to think about the current high fees before deciding to accept Bitcoin in your shop

Accepting payment via Bitcoin is a good idea but currently Bitcoin is not yet widespread enough that you can sell car parts via Bitcoin to everyone. Because not all users use Bitcoin yet. Moreover, Bitcoin high cost of fees imposes many restrictions on transactions. So I would say in addition to Bitcoin you will trade in other fiat currencies, as well as Bitcoin.

Business owners need to think more broadly about things like this because the purpose of opening an auto parts store is to make a profit which will generally be better if they provide more payment options to the customers who come there. This means that the shop owner does not limit payments to just one of them, making it difficult for people who don't have Bitcoin to pay using the existing payment system. So of course this will not be limited by the shop because the aim is also very clear, namely to seek profits from various directions openly.

Contrarily, if the price of Bitcoin keeps increasing people will have challenges with paying for goods and services with it. I know most of the campaign managers in this forum have complained about the high gas fees charged, remember their payment is only on a weekly basis  and to a limited amount of participants.