Selling milk tea for Bitcoin

[cheezcarls]

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

[mk4]

Not sure if this will actually do good for your business since it looks like bitcoin isn't decently adopted in your city, but hey. Nothing really wrong with trying things out. Who knows there might be some total bitcoin bull out in your neighborhood that becomes a regular customer solely due to you accepting bitcoin payments. You can try playing around with Lightning too if enough people pay with bitcoin.

P.S. To the other readers, milk tea = bubble/boba tea.

[1Referee]

I think accepting Bitcoin will serve you well, especially around schools where you are dealing with a lot of youngsters who surely know what Bitcoin is and likely own a sat or two as well.

What I find lacking is that there aren't all that many local places where we can spend our coins, and that's something you can start to change. I'm pretty confident that it will motivate other stalls/merchants to follow, especially in times where the price isn't all that far from its next parabolic cycle.

I do wonder what the goal is with the coins that people will be spending at your stall. Hold? Convert to fiat?

[bitcampaign]

it's the same as we buy coffee, it looks like the price is not much different from the milk tea you sell, so like this if you use bitcoin I think for payment with bitcoin the transaction costs are very expensive even you can buy a glass of your milk tea, why not sell property where prices high so it is not worth the transaction costs, a little advice to add ETH may be much cheaper with less costs not only bitcoin, I do not prohibit it even I support it and it's cool, but add ETH as a second payment other than bitcoin, your government great does not prohibit all people from buying and selling with bitcoin in your country, continue your campaign

[Yaunfitda]

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Go for it man, actually I'm a milk tea enthusiast, I just had my taro milk tea

Might be first in your place, and people might be curious as what bitcoin is, if you can set up a LN payment as well much better so that it will be instant.

[airdnasxela]

Milktea is a good choice of business. I'm guessing you're from the Philippines, milktea is very popular nowadays. Although competition with bigger brands in the mall is quite hard but I still prefer mall location than school. There's more possible customers than students. Not a lot of students knee about Bitcoin since most students are still not into investing and more likely to focus on school. However I also wonder if people would still choose to use crypto payments when the cost of their food isn't that big. But that's definitely a good idea not just for your family business, but also for promoting Bitcoin. And btw, just make sure that your parents have enough knowledge with crypto and Bitcoin and how to accept transactions. Because they'll be using it in their operating cycle.

[DabsPoorVersion]

It is a good way to add bitcoin as one of your payment options, but there are a lot of things you need to consider before you allow it. The result may be good or maybe bad depends on the market situation, payment goes to your bitcoin wallet might be lower than the expected amount, the result will fall into two types, it can be higher or lower.

[cheezcarls]

it's the same as we buy coffee, it looks like the price is not much different from the milk tea you sell, so like this if you use bitcoin I think for payment with bitcoin the transaction costs are very expensive even you can buy a glass of your milk tea, why not sell property where prices high so it is not worth the transaction costs, a little advice to add ETH may be much cheaper with less costs not only bitcoin, I do not prohibit it even I support it and it's cool, but add ETH as a second payment other than bitcoin, your government great does not prohibit all people from buying and selling with bitcoin in your country, continue your campaign

I can consider that since the wallet has ETH, XRP and BCH balance aside from BTC.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Go for it man, actually I'm a milk tea enthusiast, I just had my taro milk tea

Might be first in your place, and people might be curious as what bitcoin is, if you can set up a LN payment as well much better so that it will be instant.

Yes man, as I love milk tea (especially wintermelon, taro and the all-time favorite creme hokkaido). My sisters and I loved milk tea so much, but of course, we don't drink everyday (controlling sugar even if I'm not diabetic).

it's the same as we buy coffee, it looks like the price is not much different from the milk tea you sell, so like this if you use bitcoin I think for payment with bitcoin the transaction costs are very expensive even you can buy a glass of your milk tea, why not sell property where prices high so it is not worth the transaction costs, a little advice to add ETH may be much cheaper with less costs not only bitcoin, I do not prohibit it even I support it and it's cool, but add ETH as a second payment other than bitcoin, your government great does not prohibit all people from buying and selling with bitcoin in your country, continue your campaign

No problem with the government here so far, as they are crypto-friendly but regulated for sure.

Milktea is a good choice of business. I'm guessing you're from the Philippines, milktea is very popular nowadays. Although competition with bigger brands in the mall is quite hard but I still prefer mall location than school. There's more possible customers than students. Not a lot of students knee about Bitcoin since most students are still not into investing and more likely to focus on school. However I also wonder if people would still choose to use crypto payments when the cost of their food isn't that big. But that's definitely a good idea not just for your family business, but also for promoting Bitcoin. And btw, just make sure that your parents have enough knowledge with crypto and Bitcoin and how to accept transactions. Because they'll be using it in their operating cycle.

I am teaching them first before starting to accept Bitcoin payments. We already hired some employees to work in our milk tea business.

[bettercrypto]

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Where does your business located? If that is a crypto friendly community then it is good. We should be cautious and meticulous in selecting type of payments in our business. Because if you will never be bought due to the bitcoin payment then I think it will never be clicked. It is good to showcase some advancement and I think it is cool. But you should also look for the sake of your customers.

[lemipawa]

Even if you business will be set up near a school, you need to check if the students there can afford to buy your milk tea. If its public school (Government run) then there's a low chance that your milk tea business will become successful because you need to consider the students there came to study only and not to stay and have milk tea. Also you need to consider the foot traffic. Your store needs to be visible to may people and much better if its near a terminal.

[Casdinyard]

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

What bitcoin wallet is this specifically? Just know there such thingy upgrade to a business account.
As far as I know, getting a business permit costs you some. I mean since you guys just starting why don't you use a normal a bitcoin address instead? Sure, people won't bother.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Sure, it will create intrigues for some people. Like WTH is bitcoin, bro?

[cheezcarls]

Even if you business will be set up near a school, you need to check if the students there can afford to buy your milk tea. If its public school (Government run) then there's a low chance that your milk tea business will become successful because you need to consider the students there came to study only and not to stay and have milk tea. Also you need to consider the foot traffic. Your store needs to be visible to may people and much better if its near a terminal.

It's a private school owned by the Chinese. The new building is under construction and will be open in a few months from now. That's our original plan. However, we suddenly change it inside the mall.

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Where does your business located? If that is a crypto friendly community then it is good. We should be cautious and meticulous in selecting type of payments in our business. Because if you will never be bought due to the bitcoin payment then I think it will never be clicked. It is good to showcase some advancement and I think it is cool. But you should also look for the sake of your customers.

Within the Philippines. We won't know unless we try, because it's part of getting them aware and to know more about Bitcoin and other cryptocurrencies. I do have a small crypto community here, and they will be our regular customers for sure, because they will help spread the word by taking selfies in our milk tea cart with the Bitcoin QR logo, etc.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

What bitcoin wallet is this specifically? Just know there such thingy upgrade to a business account.
As far as I know, getting a business permit costs you some. I mean since you guys just starting why don't you use a normal a bitcoin address instead? Sure, people won't bother.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Sure, it will create intrigues for some people. Like WTH is bitcoin, bro?

Coins.PH. It's regulated by the Bangko Sentral ng Pilipinas (BSP), and upgrading to Business account is necessary to increase monthly limits in cashing-in of up to 5 million pesos.

[blckhawk]

If the discount is significant, and you're up for the risk, then go for it. For example, your promotion would be Buy 1 Take 1, then people might consider researching about Bitcoin. Though the problem I see here is the volaility. Unless you're pricing your products in Bitcoin, you'll need to change the price accordingly to its fiat conversion. A QR code could do this, and if you already have the portal to do such instant conversion, then have a try. You may be the pioneer in your locality, and the risk might bring you fortune.

[Cimmy_revenger]

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Assume I am your first buyer and I will buy the milk tea that you sell for 2 dollars per 1 cup of milk tea.
Have you considered the cost of sending the bitcoin that I paid for a glass of my tea ?
the fee is still too expensive for me as a buyer who uses Bitcoin.
and don't forget, fast block confirmation will also cost more.

[ice098]

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Assume I am your first buyer and I will buy the milk tea that you sell for 2 dollars per 1 cup of milk tea.
Have you considered the cost of sending the bitcoin that I paid for a glass of my tea ?
the fee is still too expensive for me as a buyer who uses Bitcoin.
and don't forget, fast block confirmation will also cost more.

Milktea is in demand now a days in every part of the world. If you will invest your bitcoins in a milktea business you will earn a great amount of money. But if you will accept bitcoins and any altcpins as a mode of payment maybe your business will not probably succeed because not all the people are using bitcoins and also not all of them knows

[sovie]

It's a good idea. I wish you all the best for that.
I dont think it will be a good idea to sell tea for bitcoin. Since transfer rate will be slow n fee may exceed the price of tea. Have you done any homework regarding how much will be price of tea n bitcoin overhead charges.

[garyrowe]

I had a discussion with my parents earlier, saying that they want to start operating our milk tea food cart. We had the cart ready, materials for making the milk tea and so on. Instead of waiting for June or July until the new school building opens, we decided to put our business in a mall rather than the school sooner than later.

My dad was a traditional business style guy. He kept failing because of not being creative and innovative, and sometimes ignoring my suggestions and advice. However, this time, since I am into crypto and blockchain industry, he was thinking about displaying a Bitcoin QR code.

In the city that I lived, there were no businesses yet who accept Bitcoin payments. They do have QR codes, but mostly from a centralized provider and not crypto-related.

I already have my mom's Bitcoin wallet verified, and may need to upgrade it to a Business account as it needs business permit and other requirements necessary. It'll be used for the business anyways.

I think this is going to be a worthwhile experiment, and a great way to start letting people aware about Bitcoin. Maybe I should put some creative promos for those who will buy milk tea using Bitcoin. What do you guys think?

Before taking decision of this nature, you have to do a proper analysis of bitcoin acceptabilty or usage around the environment you wish to site your business so as to have a clear understanding of what to expect. Meanwhile ensure you have other payment gateway so that non-bitcoin users can also patronize you. The idea is great and can really help your business grow .

[joniboini]

As long as your government is fine with it, as you said, they're crypto-friendly, then I guess you can give it a try.

But is there no cashless or instant payment provider available in your country? In Indonesia for example, you have OVO, Dana, GoPay, and something similar. There is also a prepaid NFC card where we can get without registering a new bank account. If those kinds of things exist, I believe customers would also find this interesting. Not trying to be negative but they'd probably use them more than Bitcoin for now.

[angrybirdy]

I think it is possible if you are using your local wallet, as you said, Coins.ph can be use to complete the transaction, that way, your transaction won't take too long if they are also using the same wallet. The transaction will just take a few seconds or minutes even if it is done with bitcoin.

[Cimmy_revenger]

Assume I am your first buyer and I will buy the milk tea that you sell for 2 dollars per 1 cup of milk tea.
Have you considered the cost of sending the bitcoin that I paid for a glass of my tea ?
the fee is still too expensive for me as a buyer who uses Bitcoin.
and don't forget, fast block confirmation will also cost more.

Milktea is in demand now a days in every part of the world. If you will invest your bitcoins in a milktea business you will earn a great amount of money. But if you will accept bitcoins and any altcpins as a mode of payment maybe your business will not probably succeed because not all the people are using bitcoins and also not all of them knows

he should use a payment service that is supported in their country with 0% FEE.
like the example of China payment using WeChat, but the presence of conventional banks is not eliminated by the presence of WeChat.