Congratulations for established such big bar in your environment but the step you took to introduce BTC in your bar, I don't think is a good idea and it will land you for trouble because all eyes will be on you that you use BTC to establish the business not knowing that it is your father that supported you with the capital.
Since some of the things you are selling are drinks, it will be difficult for people to ignore local currency and use BTC to pay for the drinks and the high rate of dollar in your country show that it will affect your profits if you introduce such payment in your business, but I will advise you to be saving some money in BTC so that whenever the price increase you can sell to buy more goods in your business.
Thanks for your candid advice, I like your idea of being security conscious as that should be the number one priority of any business one is doing then just like I said in the OP I'm using a combination of fiat, USDT (TRC 20), BNB and some others as my payment options for now then i will include the use of Bitcoin when the transaction fees are less and no congestion in mempool because a lot of personalities around me are into cryptocurrencies more especially bitcoin so it would be nice if people that uses cryptocurrency also make payments using cryptos. Your thoughts for me to save in Bitcoin and sell it off when the price increases is not a bad idea but I'm a bitcoin hodler and I plan to acquire more Bitcoins till it reaches the speculated ATH so for now I won't be selling my coins. A big congratulations to you on your new business adventure in this year 2024, I love the setting of your bar, it looks sleek, stylish and rich, I've had plans of having a bar like this, or even something a bit bigger than this but some persons around me talked me out of the idea, but maybe in the future, I might pick up the idea again and this time, I will not allow myself to be discouraged or talked out of establishing it.
In life, don't always be influenced by people's decisions for you because if you fail you'll have yourself to blame and if you succeed you're also going to receive the glory so stick to your heart and establish your dreams and you're responsible for whatever decision you take whether it leads to your upliftment or your downfall, don't be controlled by people's opinion. I am also wishing you well in your new adventure, but rest assured that you can always accept bitcoin as a payment method if you want, it's just like what we have discussed here over time in previous times about bitcoin L1 network not being one that is meant to be used for payment of/for goods and service, for businesses like this that wish to accept bitcoin as a payment method, I believe setting up a lightning network is the best way to go, with lightening network, one can receive bitcoin payment fast and very cheap in terms of fees.
I hope you look into this..
Yeah, setting up a LN is a welcome idea though am just starting up my business and with time everything will perfectly be put in place and thanks for wishing me well and I also reciprocate your wishes. ~
I guess the OP didn't keep his records accurately or the property might be his father's own. There is no way one could pay rent, furnish the bar and stock it with drinks with such an amount. The bar looks more expensive than the money OP claimed was used to set it up. However nothing is impossible, maybe he did most of the work at a cheap rate. What's the currency that OP is using though because if it's USD it's probably more than enough to set up a small fully furnished bar, and there's also the factor that the 2 million that was given to OP by her father is probably enough and that the price of furnishing and buying a place to set up a bar is probably not that costly, there's also the possibility that OP's father's influence might've done some work to smoothen some of the processes to build the bar. Though honestly, the money didn't actually settled everything to be frank as I added some money also, I only talked about the money my dad gave me directly as i didn't include my own personal money and the ones i got from other sources in other to help facilitate my business. You're right about my dad watering the soil for me as that's the dream of every children to have parents that can stand for them and help them achieve their dreams and am also working hard to extend this adventure to my children and also help them achieve their dreams in the future Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.
congratulations on making your business dream come true. and you are also happy to use crypto as an alternative payment in your business. I hope you don't have difficulty managing your business finances. because it will separate the amount of money that will enter your business between fiat and crypto. If you only accept USDT, management will probably be quite easy to manage. but if it involves Bitcoin or other crypto such as ETH or TRX, whose value can change very quickly, there may be times when you experience financial problems. in quantity, it may not decrease, but in value, there may be a difference when the market price of the crypto asset you receive changes. I quite understand the angle in which you're talking about but trust me I didn't just ventured into this business as an inexperience person as I have experiences about business management and I've been into cryptocurrencies for sometimes now and I also have experiences about how the crypto market operates so I don't think I would be finding anything difficult for now. Thanks for congratulating me as well I appreciate. So at the end of the day, your dream becomes true with the help of your father. But right now, it's hard to accept Bitcoin, and double-spending chances are high due to transaction fees. As you already replaced the Bitcoin payment option with USDT and BNB based on customer advice, it's fine now. Because if you intend to hold Bitcoin, you can convert your USDT to Bitcoin. So it doesn't make sense to accept Bitcoin payments with high transaction fees at the moment until a solution is found. Accepting other cryptocurrencies also indicates you are adopting a cryptocurrency.
Yeah, actually I'm adopting a cryptocurrency or rather cryptocurrencies but I hold more of Bitcoins in my portfolio and I still hope to use Bitcoin as I medium of payments in the future so hopefully I believe that a solution would be met on how the high transactions fees can be reduced and congestion in the mempool lesses as well in other for transactions to be confirmed very quickly |
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The President can stop corruption but it will be very difficult for him to do it alone. To stop corruption, people from all sectors, big and small, need cooperation. But if the administration is much stricter, anything is possible. However, this is possible only in a few countries because almost all countries are corrupt. It has now become a global disease.
Corruption is like a pandemic that has eaten deep in the mindset of people because you can't fight corruption without looking at how people reason or behaves towards corruption and one of the things that's increasing corruption is looking back at other people who have been involved in corrupt practices in the past and then you also want to do same thing they did with the believe that if you're to be probed then that means your predecessors also needs to be probed as well. Corruption should not only be focused on the government but to every individual in the society because we all are the government as one way or the other you might be opportuned to hold a public office in the future so a situation whereby you're have been involved in corrupt practices in the past then there is every tendency that you are going to continue when you hold a public office. In summary, the rate of corruption now in our society is very very bad like almost every area of human, be it in their daily lives, in government offices, and in different perspectives of the life of human which is gonna be very dangerous in the future because the younger one now will grow up with that same corrupt mindset tomorrow which will be very bad for the society at large. |
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if they can regulate bitcoin mining because of the possible negative effect it would have on the surrounding, what happens to setting out modalities or laws to stop the flaring of gas in our country?
You are quite right to some extent, you see the only thing that is bringing our beloved country backwards is not even about setting out laws to regulate activities that can pose threat to people and the environment but lack of it's enforcement because putting a law is very simple but maintaining it that's where the problem is. You see some gas flaring industries increasing the velocity of the flame without thinking about the environmental hazards it is creating to people residing within such area. We all know that both mining and gas flaring also aid human in so many ways but we shouldn't also neglect the dangers it poses on the environment and also sort out ways to reduce it's intensity. |
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It's obvious that everyone is chasing after money now because if you don't have money in this country you're just like a sheep without a shepherd so everyone is getting involved in things that's gonna earn them a living rather than pursuing ambitions that may not even be achieved if there's no money.
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Wow, you've got a fully furnished bar and establishment for that amount? Now I want to know where you're from because I want to live there, I could probably retire with my money there if I wanted to because I feel like you're getting a really good value out there. Congratulations on your part, would've been more awesome if you've done the hardwork for the money but nonetheless, congratulations on the business and may you become successful.
I guess the OP didn't keep his records accurately or the property might be his father's own. There is no way one could pay rent, furnish the bar and stock it with drinks with such an amount. The bar looks more expensive than the money OP claimed was used to set it up. However nothing is impossible, maybe he did most of the work at a cheap rate. You're right about my dad owning the property, I only bought drinks, furnitures and upholsteries so you ain't far from the truth. How can that amount get me that kind of luxurious environment and still equip the place at same time it's impossible in my country. |
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I've observed a little mistakes that newbies like me usually make during conversations here in the forum. I have made this mistake here before, I suppose it was my first thread I created in this forum where I was arguing about some rubbish I thought I knew about.
Newbies/beginners and senior colleagues too do make this mistake of arguing with people in conversations that are not worth arguing about. Instead of responding to some quote where you were corrected you can just learn and remain silent than make some blind arguments that can lead to more wilder conversation that will either be out of point from the actual discussion.
Most times I see people creating enemies for themselves because they want to prove a point that they know some bull shit.
I will advise my fellow beginners to respect some correction and not make arguments just to prove yourself knowledged. instead of arguing you can just learn without quoting them back and blabbing rubbish. even till now some senior colleagues are still arguing with themselves because they feel they have the knowledge which someone is try to inculcate in them.
Don't make a fool of yourself trying to prove a point for some nonsense reputation that nobody gives a fuck about.
Just a friendly advise..
OP you're actually right on staying silent and learn from people who are in higher ranks than you but I want to ask you a question, does being a newbie mean you don't actually have anything yet to offer to the forum or you're inexperienced? Like there are actually some newbies here that have been into cryptocurrencies before they found this forum of which some newbies are more knowledgeable than some of the so called legendaries and higher rank members here, does it mean one should be dumb about opinion of others even when they're wrong simply because you're a newbie? Well, I think we should stop this perception of feeling too authoritative simply because you're a higher rank member. You may actually have more experience about the forum because it took you a lot of time to build your rank but that doesn't mean you know it all as sometimes a newbie can be more productive than a higher rank member. |
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And I will put your on my watch list to know if you are really an influential politician daughter or son. And things you discussed here will also showcase your identity as a politician daughter or son.
I think OP is just doing what he has seen others do in the past to farm merits. This type of topics used to work in the past, members are easily moved by bitcoin adoption threads and showed them with merits. This is why I think this story is a ploy to fish merit since OP didn’t get enough merits on the last one he created. if you feel this post was created in other to farm merits then there's absolutely no problem but put yourself in a scenario whereby you are telling the truth and every one begins to read meaning in what you are saying simply because maybe they feel you didn't present yourself well in other for them to believe your story. Every thing a wrote here is real and not done on purpose. It is generally believed that all politicians in Africa are corrupt because bribery, looting and corruption are popular in government. But I am happy to know that your father is not part of the corruption that has kept Africa in perpetual poverty and underdevelopment. Tell your dad to keep up the good work.
Do you even think that her father is a real politician as she is claiming? Or it is for formality. Because from the way I observe and analyse the thread, I don't believe the story. Because a potential or influential politician daughter or son will not come to this forum to look for... There are some stories someone will tell me here that I will believe and not this type nof stories. this isn't for formality legend, it is a crime to share one's achievement here in the forum. You may not believe me but I didn't actually create this thread to impress anyone, it was out of joy and excitement that made me share this but if you think it's a "cook and bull" story, then it's fine. My dad being influencial doesn't really mean I can't be involved in some social lifestyle with other people. Besides if there are some errors I made while creating this thread it's only to be corrected besides I'm new to the forum it's not as if I'm a pro. ...my dad is an influencial politician in my state.]
Op do you really understand this statement in politics, and influential politician daughter or son is here. How? Is it that you are here to learn Bitcoin? If it to learn Bitcoin then you welcome but if it is the opposite then your story is a fallacy. And I will put your on my watch list to know if you are really an influential politician daughter or son. And things you discussed here will also showcase your identity as a politician daughter or son. Rhetorically, you mean influencial people's children doesn't have anything to do with platforms of this nature, I mean that's a wrong assumption! |
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Nice to hear that your father used the public funds meant for the development of the citizens to open a bar for you to increase the drunken in the society. Bar is always to attract more drinkers. Well it is a good thing that you open your own bar but as a daughter of a politician, a bar work is not good for you. And I will advise you not to take Bitcoin as your payment option for now because of the tx fee. And why did you use the money to invest in Bitcoin and just relax and Monitor the market because that bar business will stress you. You have to buy fuel and pay workers but in investment you would not do all this.
This doesn't sound funny anyway but are you really making assumptions that all politicians that occupies public offices embezzles government funds? Well, my dad is a well known business man before he ventured into politics and moreover, he has his own allocation as a public servant so I don't know why you took it personal to judge politicians that way because you're actually having the narrative that all politicians embezzles government funds. May be in other to ascertain your assertion there should be no politicians right? Thanks for your advice not to use Bitcoin now but I still wish to use it in the near future for my business as I'm also a bitcoin hodler. Until this spamming of the main network goes down either use Fiat or the LN. It is my recommendation to you and since you are the owner of your establishment think before and do your math. I am happy that your dream has come true and for your growth, you should think about profitability and not about Bitcoin in the current scenario.
Thank you so much for your advice to use the LN though people may not believe me but nevertheless I still hope to accept the use of Bitcoin for my business in the future when the tension is free. This is my achievement this year and am happy I gladly did. My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat.
You opened a bar. A bottle of beer is not up to $1. 1 input and 2 outputs bitcoin transaction at 80 sat/vbyte cost 4.79 in fee. We all know that it is not possible to pay using bitcoin onchain transaction for some beers. In Nigeria, naira is more used for payment and using bitcoin is getting more discouraged with the high fee. Although, there are expensive drinks and wines, but fiat transaction locally is instant and of very low cost. On Opay, Kuda and Palmpay and some other means of paying for goods and services, the fee charged for some number transactions per day or per month are free. I'm actually starting the business yet as I also plan to combine it with a world class restaurant as well, I indicated that am still using fiat to operate my business for now pending when there will be lesser transactions fee and no congestion in mempool. But looking at the settings of the bar doesn't it look luxurious? I don't know what exchange rate you used in doing your calculation, but two million Nigerian currency is up to two thousand American dollars. As of the date you mentioned, the dollar was between N1200 and N1240, so if we were to use N1200 per dollar to calculate it, we would be arriving at $1670 and not $2000+.
Over to the business of the day, I don't see it convenient to pay with bitcoin in a bar with the fee rate and delay in confirmation, which may end up taking my whole day before I can complete a single order, so I will suggest and I know that if the bar is real, you will experience fiat payment more than any form of crypto payment.
Okay you are correct, sorry for the miscalculation based on the current exchange of naira to dollars is about #1285 which means converting 2 million naira to dollars is around $1560. You're correct on using fiat for my business for now because due to the high transactions fees and congestion in mempool that's why I'm still using fiat with the hope that I can still turn to payment using BTC when the congestion is less and fees reduces. Moreover, I have some other expensive drinks that one can use crypto to buy. |
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I've been longing to Open my dream business for a very long time now, my dad is an influencial politician in my state. He has companies and some businesses and I've been pestering him to assist me with some funds to start my dream business of having my Own Bar but he never gave me a listening ear. Just on January 2 2024, He sent me #2,000,000 in my local currency which is about ($1560 currently in dollars and 0.037347 in BTC) to start up my dream business. I was so happy and thankful to him for giving this assistance after a very long time I've been requesting money from him to start up a business. Now I've furnished and equipped the bar with different brands of drinks. I was thinking of using Bitcoin as a medium of payment for my new business since there have been massive involvement of people from my country in Bitcoin after the initial ban placed on cryptocurrency in my country was being lifted. My major setback now is the high transactions fees and congestion in the mempool but I've made provisions for my BTC Address to customers but for now they're still patronizing me in fiat. The picture below shows the transaction I received from my dad and the setting of my bar: please help wish me well in my new achievement for the year 2024. TRANSACTION OF THE MONEY RECEIVED FROM MY DAD  THE SETTINGS OF MY BAR       Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool. |
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OP I like all the guidelines wey you list like dis but you see this no. 1 indecision, that one enta wella because many investors dey find am difficult to take one particular decision during investment because of fear to lose if the market no go as planned so any thing wey person dey do make him dey able to make decisions wey go expose some hidden goals wey him go achieve without minding anything wey go happen because anything wey go happen go happen so to remove fear wen we wan make investments dey very good as e go help person not to make too many mistakes base on say you don carry am for mind say anything wey wan happen say make e happen.
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Snip~~~
OP I quite understand what you are trying to emphasize on but I put it to you that our country is still a baby country that hasn't gotten the required knowledge to handle online transactions and moreover, our online platforms are full of scams and frauds and some times in the aspect of ordering things online, what you ordered may not really be what would be delivered to you and sometimes some fraudsters hacks the account of these online vendors and insert their details and people get scammed on several occasions even me I've been a victim of these effect so if we should seek for online means of doing things in other to make it easier for us, then we also need an enabling environment that would be free from frauds and online manipulations that's the only we can gear towards using Western standards in our local country. |
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OP, your recent threads show that you are concerned about merit. I understand your efforts to improve your rank, but you shouldn't be so frank.
You may actually be right on saying that am only interested in merit but I want you to understand that everyone in this BTT forum needs merit in other to grow so it shouldn't look as if because my current threads are focused on discussion about merit then it now sounds as if I needed it more than anyone else. I know I'm a newbie and it is important for me to learn and make quality posts before I think of earning merits of which I'm trying my best and if you watch closely I do more of learning and making research before creating threads. No, no, I don't want to offend you. And yes, it is normal that newcomers are interested in increasing their rank. I think everyone who came to the forum after the merit system was introduced remembers his first merit and the person who gave it to him, unless, of course, the merit did not come from an alternate account or was purchased. But I would advise you to focus less on hunting for merit and communicate naturally on the forum without rushing things. Many have noticed that as soon as you let go of the passionate desire to obtain merit, they are attracted to you from all sides. Just communicate, and you will get what you are so excitedly waiting for.  You didn't offend me in any way as our elders do tell us that "advice isn't a curse' and moreover, this is beginners and help session so whatever you know you can relate to me as a newbie in other for me to grow here don't hesitate to let me know I think that was why this session was created in other for legendary like you to help newbies/beginners like us on how we can go through in the forum so i welcome your advice and i say thank you I'm grateful! |
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OP, your recent threads show that you are concerned about merit. I understand your efforts to improve your rank, but you shouldn't be so frank.
You may actually be right on saying that am only interested in merit but I want you to understand that everyone in this BTT forum needs merit in other to grow so it shouldn't look as if because my current threads are focused on discussion about merit then it now sounds as if I needed it more than anyone else. I know I'm a newbie and it is important for me to learn and make quality posts before I think of earning merits of which I'm trying my best and if you watch closely I do more of learning and making research before creating threads. |
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Viabtc has also reduced the free slots to 20 -- this will tighen the competition even more, rip.
Bad news, the chances of using viabtc free accelerator right now is slim to none, 100 slots were filled by bots in a wink, now with 20 slots normal humans stand no chance of successfully submitting their transaction ID's. I reckon it is only a matter of time before they offer zero free accelerations, and for one to use their accelerator, you'd have to use the paid service. So many of their blocks contain accelerated transactions that are not paying a high fee in a period when fees are high; and this could be the reason why they have reduced the free slot to 20. Actually Viabtc is really hard to successfully accelerate transactions now with this development of only 20 slots like how fast can you be in the next hour to be able to accelerate your transaction for quicker confirmation. Honestly, this is so sad as I wanted to accelerate my transactions Viabtc this evening and I monitored the time so closely but yet I couldn't meet up. |
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But from perspective it's probably not wise to merit an account that has been inactive for decades as you said because they clearly do not need it. So why waste your sendables on those accounts while there are so many people out there trying their best with good post too that deserves merit.
I quite agree with you though I know that awarding merit to quality posts of users regardless of whether they are active or inactive is a way of showing regards for their quality contributions to the forum but I think those profiles doesn't really need much merit anymore because each merit comes with a sendable merits that can be transferred to another quality post of a user in the forum so a situation whereby we keep meriting inactive or rather Banned profiles it's probably a kind of allowing those sendable merits those users have got decaying and becoming useless. |
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I've got to find out that there are some profiles that have received whole lots of merits but some of those profiles don't circulate their sendable merits to others profiles thereby allowing the sendable merits to decay and become worthless. The reason for sendable merits is for a user to send to other profiles in which they find their posts of good qualities and of Meritable standards but I wonder why some users choose to hoard this sendable merits and allowing it to vanish with time.
Is it a good habit to allow one's sendable merits to decay?
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The problem of the society lies in you and I because na we go decide how we go live our life even though say sometimes the society, our government and our parents dey also put hand for some decisions wey we dey take but any decisions wey we take for life be it good or bad, na me and you na him go dey responsible for our actions as no body dey force horse say make him drink water even if you carry am go waterside so for me I no go blame our parents, the society or the government for our problems as everything dey our hand to choose how we go take do things. No matter how our parents might seems to influence our decisions but we have the final say as they've lived their lives and therefore make them leave us to also leave our lives. If I be the girl I go tell my mama say weda him husband na Yahoo boy wen she marry am case closed.
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To me that slang means a lot to me o because I don't know how other people will interpret it to also soot their selves but for me I believe say this no gree for anybody means that enough is enough as one should not keep silent and watch evil happen and don't be intimidated by anyone as we all are all equal even though say we no dey the same level but no matter who you be everybody dey equal and last last na ground wey all of us go enter one day so no allow anybody to oppress you for this life base on say him get money pass you, him build houses pass you, him get investments pass you, him get achievements pass you or him get children pass you.
Any body wey do you bad thing without feeling remorse of wetin him don do you make you do am back, if person bites you for nose make you too bite am for nyash no go gree for anybody at all o, if person want peace give am peace, if him want violence give am violence o this year na eye for eye, tooth for tooth o. Any body wey recognize you make you too recognize am if him no recognize you make him fuck off. Enough is enough!
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