One Month of Accepting Bitcoin for Payment

[m2017]

That's just really amazing. Wish I had furniture seller nearby whose accepting the bitcoins as part of payment. How cool it is to see, you walking nearby local area and suddenly see that board saying "We Accept Bitcoins Here". I am sure any crypto lover would stop by to see what's the exact process for doing so and how are they doing about it. At least I would go and check on such vendors and ask how much response are they getting. This could tell me tales of my region! 
Imagine if we see this every where on the street market to malls then what the heck government would do about it? I think they will be more afraid about it and may just make it far more stringent to accept it. However, that's our victory people. Lets keep doing it.

Nothing and no one prevents you or anyone else from repeating OP's actions and accepting payment for his work at bitcoin. He didn't try to change the world immediately and instantly. Started small and has already contributed to mass adoption. The rest just need to follow his example and it will create an avalanche effect. Do you want to see btc as a means of payment around the world, at every turn and everywhere? Start small - hang a "we accept bitcoin" sign on your store door or website page.

[hZti]

Nothing and no one prevents you or anyone else from repeating OP's actions and accepting payment for his work at bitcoin. He didn't try to change the world immediately and instantly. Started small and has already contributed to mass adoption. The rest just need to follow his example and it will create an avalanche effect. Do you want to see btc as a means of payment around the world, at every turn and everywhere? Start small - hang a "we accept bitcoin" sign on your store door or website page.

The economy is always supply and demand. Since there is not a lot of demand for paying with bitcoin most businesses dont take the hassle to accept payments with it. If more people would ask to pay in BTC more sellers would accept it.

[borovichok]

Nothing and no one prevents you or anyone else from repeating OP's actions and accepting payment for his work at bitcoin. He didn't try to change the world immediately and instantly. Started small and has already contributed to mass adoption. The rest just need to follow his example and it will create an avalanche effect. Do you want to see btc as a means of payment around the world, at every turn and everywhere? Start small - hang a "we accept bitcoin" sign on your store door or website page.

Bitcoin have a very influence on the general market and have affected many fiat Currency in many ways. There's still time for us to adapt the pattern of bitcoin as means of payment which is very fast and reliable. Accepting bitcoin is one of the fastest way of growing the project universal and the moderators behind the project are working effortlessly to make it one of the biggest successful project in crypto, and it's on the verge of doing it. Nakamoto brought in the existence of bitcoin although his identity is not well known to us but he did a very good job in making the project to have a solid target.

[Casdinyard]

Thank you so much for doing your part in inspiring micro-businesses to accept cryptocurrency payments. To be honest it's really hard for small businesses to make changes like these in their payment schemes because of the huge potential for losses, but you letting other people know that bitcoin is as safe as it can be truly helps in diffusing negative stigma against cryptocurrency. Especially now that we are facing quite the issue courtesy of the FTX crash along with other cryptocurrency shenanigans earlier this year.

What you did is one of a great effort to support Bitcoin adoption as a payment tool. As long as you know well how to deal with the price volatility of BTC, using BTC as a payment tool will be safe enough. But don't forget that you need to know the regulation related to the use of BTC as a payment tool in your country. Anyway, where do you come from? This is necessary to know to avoid a legal problem. I also have the intention to follow your effort (accept BTC as a payment tool in our bussiness), sadly it can't be applied here because it breaks the laws.

*Nice effort, mate. 

Right? People are waiting for the adoption to finally happen, and here we have a great person doing his part in making sure it comes to reality. Bitcoin adoption won't happen if no one does their part, and businesses like his that directly market to the people are a great pavement in making sure this happens at least within our lifetimes.

[kawetsriyanto]

Regardless of whether he comes from a country that legalizes bitcoin or not as a means of payment, the OP's efforts can be considered as brave efforts. Bitcoin will only be adopted when a person, group of people, or company believes in bitcoin as a secure means of payment.

Yep, it is a brave effort. As I said, it is a great effort, too.
However, to make the effort achieves the target and doesn't stop very early, we need to know that the effort doesn't break the laws. I'm sure OP doesn't want to make useless efforts and it even makes a bad reputation for BTC on the society. So, besides ensuring that the bussiness is in the proper environment (where people are quite familiar with BTC), we also need to ensure that it doesn't break local regulation or laws.

My question for OP, have you ever had a customer who paid you with bitcoin as long as you adopted it as a means of payment?

OP has told us that he already have 13 customers.
Please check this post: https://bitcointalk.org/index.php?topic=5425961.msg61424365#msg61424365

The first payment I received was from a customer who saw my notice; after he inquired if he could make his payment in Bitcoin, I agreed. The second customer was referred to my shop, as he told me. That's just how it started, and before I knew it, it increased to 5 and then to 13.

CMIIW

[Tommiewill]

This is a nice move! But I want to know are the prices of the goods fixed? Or change at any time? As risky as you are doing this, I can't believe you got 13 customers. Really good! Hope there are more companies like yours. If everyone is like this, the cryptocurrency market will become popular. The bull market is coming!

[lepbagong]

You are always in one way or another promoting bitcoin in whichever possible ways you can, In your last few post I saw you teaching your young family about bitcoin, and today I came across this.
Your Business will not just be recognized by the Quality of your furniture, but will also gain more attraction because you have introduced a means of payment that your competitors don't make use of, that's a great move OP.  But let me just ask this: What if a client wants to make a payment with bitcoin and the blockchain is congested at that moment, and as a result of that there is slow transaction speed will you accept other means of payment by cryptos like Binance Pay, USDT TRC-20 and other generally accepted crypto ?

of course this is a very good question, because we are sure that those of us who have been involved with crypto for a long time will have experienced something like you said, even I myself have experienced stuck transactions, so it took quite a long time to be able to complete all the transactions.
of course if the op experiences something like that, it is certain that he must take some action so that it can continue to be mutually beneficial. whether to continue to make transactions, even though waiting a long time or as you say, want to accept payments with other methods.
but I appreciate what op did to want to make sales by accepting payments in bitcoin, of course this will be indirect knowledge for many people who have not known and know what bitcoin is.

[BigBos]

hello Bitcoiners, I'm happy today because today marked one month since I started accepting Bitcoin payments in my company. I decided to accept Bitcoin as a means of payment because it is fast and secure, unlike the frequent delays and errors with fiat and banks. Few of my customers were really impressed with the new development when I first started last month, but since then I have had more than 13 customers paying me with Bitcoin and stable coins ( USDT ). I feel more safe using Bitcoin in my business because it eases the stress of holding a lot more cash, there is no more SMS notification and charge from the bank for payment, and no one has to know about my bank balance by spying on my phone. There is no monthly charge of any kind for Bitcoin transactions, unlike with the banks.

Knowing that the Bitcoin payment I receive from customers is not an investment but rather my business capital, what I do after receiving payment in bitcoin is convert my capital to a stable coin USDT and leave my profit in bitcoin. I do this to avoid running a loss in my business. If I decide to hold the whole bitcoin and, peradventure, the Bitcoin price drops, I might not have my exact capital any time I want to buy more goods. I wish to ask if this is the right approach I should take given that we are still in a bear market.

You are great, I also want to do the same as what you are doing, can accept Bitcoin as a means of transaction, but in my country, the regulations are very strict, if I use another means of the transaction as payment I will be subject to criminal penalties for a maximum of one year and $12,800 fine. Of course, this is very difficult for me.
If I did it secretly without other people's knowledge, maybe I could do it, but when neighbours or other people report what I did to the local police, I could be entangled in the law.

I appreciate your courage, one day I will also do the same thing as you when the legal regulations in my country have allowed it.

[hyudien]

Such an extraordinary initiative, even real work by making some furniture is able to provide a payment solution that I haven't seen anywhere. You got off to a very good start and dared to create something different from what people usually pay cash for. I think what you started is the first step towards a bigger dream. Hopefully, people are motivated by your idea. Bitcoin will always be friendly and the stigma about paying Bitcoin just to pay for luxuries has been broken by you.

Congratulations to you Dr.Bitcoin_Strange and good luck with your business

[MarjorieZimmermanGinger]

Congratulations OP, you have accepted Bitcoin as a means of payment, this is a step forward that you are taking, given the much adoption that has taken place towards Bitcoin payments. Thus you also provide customers with smart options in the business that you are developing, where many people are currently using Bitcoin not only as part of an investment, but also as a means of payment for certain products or services.

To attract customers, maybe you can make advertisements on Radio channels or online print media, while providing discounts that you customize on items purchased using Bitcoins, this step is also likely to get much more satisfying results, because people get the option of shopping on products what you offer.

Once again congratulations OP, you have succeeded in creating opportunities in Bitcoin.

[aylabadia05]

Amazing. Good decision and rest assured that others will follow your lead in accepting Bitcoin as a means of payment.
Indirectly you are campaigning for the convenience of Bitcoin to people in your environment.
Another message that you are conveying to other entrepreneurs around you is that the cash process is too complicated as you convey.

For me, accepting Bitcoin as a means of payment in a business can be a good and unique strategy in advancing your business if others don't do it.

Congratulations guys.

[Leviathan.007]

Very good decision and also a good strategy to just keep the earnings in bitcoin. You can convert always more money to bitcoin in an upwards market again. Please don’t make the mistake to not accept Bitcoin anymore if it is not used for some time. The bitcoin space needs dealers like you that get people interested.

It is a good decision by them to accept bitcoin as payment for their business, and I am sure that this decision will definitely help him or anybody else with their business to attract more clients if they wish to use bitcoin instead of the traditional methods of payment. However, I did not think that it is necessary to give some time for acting bitcoin so as to get people interested because it seems to me that more and more people are getting into bitcoins every day and this can bring in more clients for these types of businesses.

[imamusma]

Regardless of whether he comes from a country that legalizes bitcoin or not as a means of payment, the OP's efforts can be considered as brave efforts. Bitcoin will only be adopted when a person, group of people, or company believes in bitcoin as a secure means of payment.

Yep, it is a brave effort. As I said, it is a great effort, too.
However, to make the effort achieves the target and doesn't stop very early, we need to know that the effort doesn't break the laws. I'm sure OP doesn't want to make useless efforts and it even makes a bad reputation for BTC on the society. So, besides ensuring that the bussiness is in the proper environment (where people are quite familiar with BTC), we also need to ensure that it doesn't break local regulation or laws.

Exactly, that's my point. It's good to continue to see people and their businesses adopt bitcoin and crypto as a means of payment but then they have to be forced to comply with their government's rules. Bitcoin users must comply with government regulations if they don't want to get into trouble. It's always possible to quietly adopt bitcoin, but I wouldn't be comfortable doing it in the dark.

OP has told us that he already have 13 customers.
Please check this post: https://bitcointalk.org/index.php?topic=5425961.msg61424365#msg61424365

Done, thanks about that.

[Obari]

I've been thinking of doing similar thing and I hope and pray it works out fine for me.
I love this your idea and concept because it's very simple and straight to the point but I don't know what country you are but I hope there are no restrictions towards the usage of Bitcoin in your community because there are believes in my country that anyone using Bitcoin is rich and for a business man like you to accept Bitcoin as a means of payment, it greatly means there would be greater chances of criminal attack on you and that has been one of my major reasons to have withheld tye usage of Bitcoin as a means of payment unless from my trusted customers

[Dr.Bitcoin_Strange]

What if a client wants to make a payment with bitcoin and the blockchain is congested at that moment, and as a result of that there is slow transaction speed will you accept other means of payment by cryptos like Binance Pay, USDT TRC-20 and other generally accepted crypto ?

Yes, I will, as long as my customers are comfortable with it. By deciding to accept Bitcoin payment, I also made up my mind to adopt any possible or available means that will aid quick transactions. I have used Binance Pay several times, even before I started accepting Bitcoin payments, so if my customers decide it's convenient for them, then that's okay with me. 

I accept Bitcoin, USDT, BNB, and BUSD.

@OP I am curious about your sales and acceptance of Bitcoin, I wanted to ask if there is a chance where you experience problems accepting Bitcoin as payment.  Like the length of confirmation when the buyer set the transaction fee too low for the transaction to be picked up and confirmed.  How do you release the item?  Do you release it after the BTC payment have enough confirmation or do you release the item right after the customer paid for it(not waiting for the confirmtion)?  How long do you usually release your item, does this bother your customer if it is taking too long for the item to be released?(if ever the confirmation took too long to be confirmed)

I usually release the bought item to customers after five network confirmations. Since I started, no customers have complained because they seem to know about crypto so well too. I have not experienced a very long delay in payment confirmation, but if such a situation arises, I wouldn't hesitate to cover the transaction fee to enable fast confirmation so as to save customers' time. Also, I give receipts to my customers for items bought, and the receipt has an entry for the customer's name and home phone number, so I could call in if payment failed.

I know I asked, and I can't see if you answered, but where is this? Mentioning the rough region is fine if you want to be private.
It boggles my mind, and just keen to find out where =)

Somewhere in the west African region.

My question for OP, have you ever had a customer who paid you with bitcoin as long as you adopted it as a means of payment?

Yes, I have received payment in Bitcoin, USDT and BUSD. See image below.

                              

                                

                                

This is a nice move! But I want to know are the prices of the goods fixed? Or change at any time? As risky as you are doing this, I can't believe you got 13 customers. Really good! Hope there are more companies like yours. If everyone is like this, the cryptocurrency market will become popular. The bull market is coming!

I don't know about other countries, but in my place, the furniture business is something that really has a high profit yield. You might sometimes make up to $200 or $250 in profit, depending on the bid the customer offers to pay; it could be less or even more. The price of my furniture is not fixed.

To attract customers, maybe you can make advertisements on Radio channels or online print media, while providing discounts that you customize on items purchased using Bitcoins, this step is also likely to get much more satisfying results, because people get the option of shopping on products what you offer.

I am not considering radio advertising; it will cost me more. Sir Lucius made mention of giving discounts to my customers here, and I have already decided on the discount I would offer customers who pay with Bitcoin.

[SOKO-DEKE]

Congratulations! This will undoubtedly benefit your company in some ways and raise awareness of Bitcoin among other residents of your neighborhood. I'm confident that many more businesses and furniture makers will begin taking Bitcoin as payment. I will suggest that you make your notice of Bitcoin acceptance in the business larger in order to attract more people's attention. This will not involve any more peer-to-peer transactions and will greatly assist those who are willing to use Bitcoin to acquire goods.i know many people will utilize this Bitcoin acceptance payment method  and start patronising you more once they found the awareness because many people are waiting for opportunity like this to come and make people believe Bitcoin is the really alternative for fiat currency.

[coinerer]

This is a good initiative and since now the price of Bitcoin is very deep.  So now if you accept bitcoin for business.  Then it might make you a lot of profit.  Because the position Bitcoin is in now is very unlikely to get any worse.  So now maybe the price of Bitcoin will not dump so much due to which you can lose a lot.  But since cryptocurrency is a risky subject, you have a lot of risk in this case.  Because it is not your personal investment.  It's your business. So in this case if you lose your business money through any bad incident of Bitcoin.  Then it can have an impact on your business . But good luck to you carry on

[CryptoHeadlineNews]

I'm really happy for your new payment method of accepting cryptocurrencies (BTC, USDT e.t.c) on your furniture business, because that actually shows that you truely believe in Bitcoin and what it stands for, but one thing I will advice you is for you not to save your funds on Centralized exchange e.g Binance for a long period of it, as you don't have total control over your funds. So will rather prefer you saving your crypto assets on either "Trust wallet" or a cold wallet, while you use Binance for selling of your crypto assets into fiat currency (i.e p2p trading). Moreover, good luck.

[klidex]

hello Bitcoiners, I'm happy today because today marked one month since I started accepting Bitcoin payments in my company. I decided to accept Bitcoin as a means of payment because it is fast and secure, unlike the frequent delays and errors with fiat and banks. Few of my customers were really impressed with the new development when I first started last month, but since then I have had more than 13 customers paying me with Bitcoin and stable coins ( USDT ). I feel more safe using Bitcoin in my business because it eases the stress of holding a lot more cash, there is no more SMS notification and charge from the bank for payment, and no one has to know about my bank balance by spying on my phone. There is no monthly charge of any kind for Bitcoin transactions, unlike with the banks.

Knowing that the Bitcoin payment I receive from customers is not an investment but rather my business capital, what I do after receiving payment in bitcoin is convert my capital to a stable coin USDT and leave my profit in bitcoin. I do this to avoid running a loss in my business. If I decide to hold the whole bitcoin and, peradventure, the Bitcoin price drops, I might not have my exact capital any time I want to buy more goods. I wish to ask if this is the right approach I should take given that we are still in a bear market.

You are great, I also want to do the same as what you are doing, can accept Bitcoin as a means of transaction, but in my country, the regulations are very strict, if I use another means of the transaction as payment I will be subject to criminal penalties for a maximum of one year and $12,800 fine. Of course, this is very difficult for me.
If I did it secretly without other people's knowledge, maybe I could do it, but when neighbours or other people report what I did to the local police, I could be entangled in the law.

I appreciate your courage, one day I will also do the same thing as you when the legal regulations in my country have allowed it.

Actually, you can still use Bitcoin in the country where you live under the pretext of being a medium of exchange, not as a means of payment transactions.
What's more, both parties mutually agree and do not harm each other, maybe laws or regulations prohibiting the use of other transaction tools as payment cannot impose a penalty on you.
That way when one day the police find out about this they can't arrest you on an unclear article, so there's no need to worry about that anymore.

[salad daging]

Regarding regulation, I believe it would be against the law when the government doesn't legalize bitcoin as a means of payment and someone adopts it in their physical service or company. We know the Indonesian government does not legalize bitcoin or crypto as a means of payment, and if the regulations don't allow it then you shouldn't adopt it.

Of course, the Indonesian government does not legalize bitcoin as legal tender. But you can still own bitcoin, trade them and invest them because it is legal. The legality of bitcoin in Indonesia is still limited to commodity assets, so it cannot be used as a means of payment.

If you don't want to get into trouble with adopting bitcoin as a means of payment in countries where it is not legal, then avoid adopting it. Ultimately adoption cannot be forced, it has to be right.

Actually I also want to adopt bitcoin in business as a means of payment when customers give goods to my business but it is not allowed in my country (Indonesia) so I avoid this and I can only invest bitcoin as a legal commodity and trading tool as an asset.

I avoid that problem because I believe that if forced I will face the law with my business then I will not mess it up no problem I can't adopt bitcoin in business but I can still have assets that are allowed that is also more than enough for i have bitcoin assets.