I have a similar topic before on
Small Business that accept bitcoin or cyptocurrency here in PH, worth it ba?. In my opinion, you're going to need a lot of liquid or cash if you are running a business so that you can sustain your business and continue the cash flow in cash there are problems when it comes it finances or some sort of rise in prices like for example pork or chicken.
Accepting your bitcoin is actually a good thing since it's a good investment for the long term, it's a great promotion on bitcoin and you could multiply your profit by investing in bitcoin using your business, but the problem is that payment cannot be used since your gonna need to sell that bitcoin to convert it to fiat money. IF you doesn't have enough cash to sustain that business your just gonna end up selling your bitcoin to a loss, so if you don't have enough cash to sustain that business you should not accept bitcoin at all because it could easily bankrupt your business if a lot of people start paying bitcoin.
you really need a lot of spare cash if you want to start accepting bitcoin as payment in a business. i have seen another merchant that accepted bitcoin as payment before and I'm sure you are familiar with it too which is Burger King. eventually they stopped that kind of transaction maybe due to people are not yet knowledgeable about crypto and not that much are using bitcoin as payment but rather upfront cash. there was also the risk due to it's volatility and the story about pizza guy might repeat again.
For now, doing business using bitcoin is quite expensive and really requires a lot of cash, especially in the case of small shops, it really needs cash.
Basically small businesses take advantage of the velocity of money so that they need more fiat to be spent again into goods to be resold. If with today's bitcoin access, I myself am still having quite a hard time because indeed when we receive bitcoin payments and the goods provider has not received bitcoins, I think it will be quite difficult, plus there is no exchange that provides fast and cheap or free services to exchange bitcoins I was then withdrawn to the securities wallet for free, I did it longer and indeed it was still quite difficult for now on its way so that it became fiat again to be spent.
Unless you have a facility like that and have a big business, so providing alternative payments is not difficult and will definitely be profitable, especially if the business scale is at a global level, of course using bitcoin is a solution for more profits, different from small businesses and still within the scope of the region. those who collect profits of $ 0.1- $ 1 from each item, I think that profit will be eaten by transaction fees. I think this is also felt by the pizza seller besides seeing the price volatility.
