Buying bullion with BCH or BTC! PHYSICAL GOLD FOR BITCOIN!!

[AmesFisher]

I am about to start selling bullion online and in-store accepting Bitcoin, UK based.
I am forth generation and run a well established family jewellery shop and have a healthy stock of gold sovereigns and other bullion which I would like to sell accepting Bitcoin but I do not know if I should be accepting BCH or BTC. Thoughts on the matter and interest would be greatly appreciated. 

Now, contrary to some peoples opinions, I am not an idiot. I have a fairly sensible business head and appreciate it is a massive gamble with such a volatile market. I have read a bit about the block chain and the size (don't really 100% understand it) and I would think that, as a layman, that BCH is the future? Should I accept BCT however as that is where people have made the most gains as it will be those I am targeting.

So we currently sell sovereigns for £250. How would people feel about buying them at a rate about £275 to £300 if they are able to pay in Bitcoin. I appreciate that those who have just started buying Bitcoin will not go for this....It is those who jumped on the band waggon when Bitcoin was £50 or even at the start of this year. They have made massive profits...would anyone appreciate that I am taking a MASSIVE risk and be willing to pay over the odds?

I fully believe Bitcoin is the future of currency and want to bring it to mainstream business. Those who believed in it years ago must now only have those initial beliefs reinforced. Would they be happy to pay above gold price helping me...help Bitcoin gain more momentum.

Would anybody on here want to buy physical gold using their profits? Does anyone on this forum have any opinion on the matter? Helpful advice from the community would be massive help!

Many thanks.
AF

[LeGaulois]

Welcome @AmesFisher

Bitcoin is the king and has the biggest community so far. You may don't know but there are surely companies providing solutions for businesses to help accepting multiple cryptocurrencies. What I mean is nothing is stopping you to accept only 1 cryptocurrency.
To be honest I am not excepting to see bitcoin cash in an online shop. For me, to see Bitcoin and Ethereum are fine, but if I would need to choose I would prefer Bitcoin of course.

Most business owners don't want to accept Bitcoin because of its volatility, but there are solutions for businesses to have their sales automatically converted to fiat (i.e. BitPay) so there is no fear anymore. Let's say I buy a 1 oz Gold Bar Credit Suisse for 0.10 BTC, I pay in Bitcoin but you, you will receive ~$1000
(I am fine with buying sovereigns for £275 to £300 but I will like to see a loyalty reward program lol )

Would anybody on here want to buy physical gold using their profits?

Yes, definitely

[mfchiro]

I am about to start selling bullion online and in-store accepting Bitcoin, UK based.
I am forth generation and run a well established family jewellery shop and have a healthy stock of gold sovereigns and other bullion which I would like to sell accepting Bitcoin but I do not know if I should be accepting BCH or BTC. Thoughts on the matter and interest would be greatly appreciated. 

Now, contrary to some peoples opinions, I am not an idiot. I have a fairly sensible business head and appreciate it is a massive gamble with such a volatile market. I have read a bit about the block chain and the size (don't really 100% understand it) and I would think that, as a layman, that BCH is the future? Should I accept BCT however as that is where people have made the most gains as it will be those I am targeting.

So we currently sell sovereigns for £250. How would people feel about buying them at a rate about £275 to £300 if they are able to pay in Bitcoin. I appreciate that those who have just started buying Bitcoin will not go for this....It is those who jumped on the band waggon when Bitcoin was £50 or even at the start of this year. They have made massive profits...would anyone appreciate that I am taking a MASSIVE risk and be willing to pay over the odds?

I fully believe Bitcoin is the future of currency and want to bring it to mainstream business. Those who believed in it years ago must now only have those initial beliefs reinforced. Would they be happy to pay above gold price helping me...help Bitcoin gain more momentum.

Would anybody on here want to buy physical gold using their profits? Does anyone on this forum have any opinion on the matter? Helpful advice from the community would be massive help!

Many thanks.
AF

not sure if you're aware, but there is a US based company where you can buy/sell precious metals using bitcoin.  not sure how it all works out with capital gains taxes, etc, but yes, you can buy gold with bitcoin.

https://www.moneymetals.com/

[squatz1]

I am about to start selling bullion online and in-store accepting Bitcoin, UK based.
I am forth generation and run a well established family jewellery shop and have a healthy stock of gold sovereigns and other bullion which I would like to sell accepting Bitcoin but I do not know if I should be accepting BCH or BTC. Thoughts on the matter and interest would be greatly appreciated. 

Now, contrary to some peoples opinions, I am not an idiot. I have a fairly sensible business head and appreciate it is a massive gamble with such a volatile market. I have read a bit about the block chain and the size (don't really 100% understand it) and I would think that, as a layman, that BCH is the future? Should I accept BCT however as that is where people have made the most gains as it will be those I am targeting.

So we currently sell sovereigns for £250. How would people feel about buying them at a rate about £275 to £300 if they are able to pay in Bitcoin. I appreciate that those who have just started buying Bitcoin will not go for this....It is those who jumped on the band waggon when Bitcoin was £50 or even at the start of this year. They have made massive profits...would anyone appreciate that I am taking a MASSIVE risk and be willing to pay over the odds?

I fully believe Bitcoin is the future of currency and want to bring it to mainstream business. Those who believed in it years ago must now only have those initial beliefs reinforced. Would they be happy to pay above gold price helping me...help Bitcoin gain more momentum.

Would anybody on here want to buy physical gold using their profits? Does anyone on this forum have any opinion on the matter? Helpful advice from the community would be massive help!

Many thanks.
AF

Who knows what the fees are on this companies gold, as there is already a fee associated with buying Bullion -- I'm expecting the fee to be pretty high if you're going to be buying it online, shipping, etc.

If OP is someone who is able to buy his bullion / other sorts of the metals in a cheap fashion and has the ability to ship the product for cheap, he(or she) is going to be in a position to capitalize and make a good amount of money. If not, then yeah.

Though OP must note there is a LOT of competiton in this field - https://www.jmbullion.com/investing-guide/buying-physical-metals/bitcoin/ (some that are very well known)

not sure if you're aware, but there is a US based company where you can buy/sell precious metals using bitcoin.  not sure how it all works out with capital gains taxes, etc, but yes, you can buy gold with bitcoin.

https://www.moneymetals.com/