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Author Topic: Bitcoin based business  (Read 152 times)
Tommy Moon (OP)
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October 24, 2017, 11:08:50 AM
 #1

Hey, Would someone be willing to explain how most bitcoin based businesses operate? How do you protect your profits when the price is always changing? Do most companies use an exchange then instantly swap the btc for usdt every time they get an order? I’m really stuck on this one guys so if anyone can point me in the right direction I would really appreciate it. Thanks.
simonsaysmoney
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October 24, 2017, 12:24:28 PM
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That's a great question and your logic in transferring to USDT is definitely something you can do to protect from losses on altcoins when BTC is going south or reconsolidating at support levels - however that is more of a alt trader tactic.  I myself hold coins that I see real world value and purpose - sorry for straying off topic. 

I am of the grain that BTC will continue to bounce back each and every time and continue to move upwards (You can check out any chart since it's inception and you will find if you plot two points from the extreme low to the high or at the point it is currently at , it is always moving up. 

I guess you would need to consider how much of your earning are declarable and cash out certain amounts when your financial advisor or accountant tells you to.  That also depends on whether you are running an above board business. 

I would think though, especially for the next 1-5 years, your BTC takings will continue to grow should you accept them as payment for services etc.


Best of luck, I know I don't speak from the experience that comes from running a bitcoin supported business, however, I hope I have given you some things to think about Smiley
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