Accepting Bitcoin

[SatoPrincess]

I intend on explaining it to her first then if she agrees I will pay for the Bitcoins she gets from customers

I don’t think you should be explaining the mechanics of bitcoin or the blockchain to anyone, I’m afraid you would not be giving the right information because you do not completely understand the concept yourself. If you did then you would have known that there are many ways you could buy bitcoin even without compromising your identity. First learn how bitcoin works and if the law restrictions on bitcoin in your country before opening a business that accepts bitcoin payment.

I think it is up to @OP if she wanted to explain the mechanics of Bitcoin or blockchain to his parents.  It is not taboo to explain it as long as she can rightly explain how blockchain works and I believe she can since there are lots of information about the how blockchain works on the internet.  It isn't actually a secret that requires heavy digging just to get the correct information.  Btw, @OP is not planning to buy Bitcoin but rather encourage her mother to accept Bitcoin as options to pay for their service. 

Just because the information is free and available on the internet doesn’t mean everyone reads them. For example, the forum rules can easily be found in B&H yet we see new threads pop up everyday asking about the dos and donts of the forum. OP is actually planning on buying the bitcoins from his mother if and when she gets customers to pay for her services in bitcoin, he seems to believe it is the best way to get bitcoins for himself. 

[Ayers]

Furthermore, if his family's living expenses depended on the sales of the tailor shop, I don't think his mother would accept that offer. There are many ways to earn bitcoin, and I also think OP should focus on ways like we are doing rather than giving advice to his mother.

Accepting that offer is not bad but it is how deep that tailor shop treasury is. Because it should be considered as an investment by using part of the tailor shop income to store it in bitcoin. I am sure not all customers of the tailor shop will use bitcoin for their payment.

OP must plan to not touch these bitcoin too often because each time, it will cost transaction fee so reducing times to move bitcoins is better.

If you are sure that there will not be too many people using bitcoin for payment, then accepting bitcoin should not be done because the instability will also make his bitcoin investment difficult. Why doesn't he do it the way many others are doing by using the money to invest directly in bitcoin? That way, things will be easier, and he can be more proactive in controlling his finances.

I am not entirely against accepting bitcoin as a means of payment for businesses, but we should consider it according to the circumstances of each person and each region we live in.

[nimogsm]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

To begin with, you need to conduct research on how many people use crypto in your city and how many of them are willing to pay for services in it. The second question is why is this for your mother and what will it give her? You need to study the topic very deeply in order to understand for yourself what exactly you want and what you expect from Bitcoin.

[Vaskiy]

Accepting bitcoin into any business is really profitable and this doesn't happen all of the sudden and we should have the patience to experience the goodness of bitcoin acceptance. Even the large corporate firms have failed in bitcoin acceptance into their business even after big promotions. So, when we make a plan to accept bitcoin we should have the better understanding and have the waiting time to receive good business.

[doomloop]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Is Bitcoin banned in your country? If it isn't, why does it matter if the government is in support of it or not if you want to buy it? If you can't access centralized exchanges and they don't provide services in your country, that simply means that cryptocurrencies are banned in your country, and if that is the case, you shouldn't force your mom to accept Bitcoins at her shop as that would be illegal and she can get in trouble, and she would also not get any payments in Bitcoin if it's banned there.

And if that isn't the case, I don't see what's stopping you from creating an account on Binance and simply buying Bitcoins with whatever money you have if you have any, the value of the fiat currency of your country doesn't really matter as long as you have the minimum amount that you can use to buy Bitcoins which is $10 equivalent when it comes to Binance spot market.

[Crypto Library]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Fisrtly I wanna welcomed to you in this bitcointalk Forum. I am really glad to see that you wanna invest on bitcoin and also making a good decision to accept bitcoin on your business.
But I have some question in my mind , If I am not getting wrong then in your country bitcoin is banned or illegal ? because you mention that your government was not supporting bitcoin investments
So if it's true that cryptocurrency is illegal in your country then how you will accept bitcoin on your tailoring shop , it can be a trouble for your mom business :"). Otherwise I don't think there will be any currency value issues.

[Minhxx]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

You should not bring your parents to join this market, it has many risks not suitable for the elderly, they need a safer investment. You can learn and buy them when investors are selling bitcoin

[benalexis12]

It's simple, if you really want to have Bitcoin and buy it, do it now while you have the chance to do it, start saving so you don't end up at zero when the bull run comes, right?  And besides that, the government can't do anything to make anyone buy Bitcoin, they don't cover that for people anymore and that's the truth. If there is a purchase, apply immediately as most people say dca for this.

[BVeyron]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I think that it would be a good idea, but the thing you should take into account is the legal status of cryptocurencies in your country. There are many legal issues with cryptocurency in any country, so these things are better to be clarified before starting such initiative. Moreover, its essential to predict income rise folowing the introduction of direct crypto payment (it may bring thousands of new customers in some areas, while in some other places it won't change income rate at all). As for hodling, you are right, I assume that long-term hodling is the best strategy if you have BTC.

[Winterfrost]

Its a good thing having the intentions to invest in bitcoins but asking your mom to invest money from her business is not a good advice. I think she is a petty trader and her earning wont be enough to accumulate some good amount of bitcoin because it is not advisable to buy a very small amount because of the volatility of bitcoin and it also depend on your country's currency value

[Obari]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Well I don't know why you think your mom should accept bitcoin  but if is for the purpose  of you holding it, then I don't think you're on the right track and I don't think your mom would want to give out her money just fir holding especially  if she doesn't  have the primary  knowledge  of Bitcoin.
I would also want to know if you've ever noticed any of her customers having bitcoin? Nevertheless, it is a nice move to make bitcoin  a payment option in your mothers shop but I don't see it as a welcome development  if your country has some restrictions to it and rather than putting your mom to risk, then I think you should simply focus on other ways to earn or buy to hold.

[TelolettOm]

however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support -snip-

As long as Bitcoin investment isn't allowed in your country, it is no problem. You still can invest in Bitcoin although it is not really supported by the government. But if it is illegal, you are unable to invest in Bitcoin because you may get a problem if the government knows it. You can get a punishment if it is against the law.

-snip- am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Why you need to convince your mom to accept Bitcoin? You can't force any one to accept Bitcoin. You only need to share Bitcoin information to your mom. Whether he will accept it or not, it is up to her. I think you are better to focus on planning to hold Bitcoin for you own investment. However, you must buy the Bitcoin with your own money, don't use your mom's money.

[Bitcoin_people]

I think this is a good move as you are keen to do and already accept bitcoins at your mother's tailors. But if your country's government isn't too keen on Bitcoin, it might be a negative. Since you are interested in investing and holding Bitcoins, you must have good knowledge and understanding of Bitcoins. You need to gain full knowledge about market volatility in bitcoins as you may encounter market volatility at any time. Also you need to analyze about bitcoins and then hold your bitcoins for future. And for this decision of yours I think you have taken a good step, you must invest for a long time but you can earn good profit.

[posi]

-snip- am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Why you need to convince your mom to accept Bitcoin? You can't force any one to accept Bitcoin. You only need to share Bitcoin information to your mom. Whether he will accept it or not, it is up to her. I think you are better to focus on planning to hold Bitcoin for you own investment. However, you must buy the Bitcoin with your own money, don't use your mom's money.

This is what I absolutely hate. Why do many people want to invest in bitcoin, but they always complain that they have no money, and then they convince or force their loved ones to invest in bitcoin? I have witnessed many cases where they persuaded their parents to use their retirement money and savings to invest...Why can't they make their own money and build their own portfolio? They always say that bitcoin is a good investment but they just want to use other people's money to invest instead of their own. That makes me suspect that they don't understand anything about bitcoin and are afraid of losing money, so they used the money of their relatives to experiment.

[Fuso.hp]

Accepting bitcoin into any business is really profitable and this doesn't happen all of the sudden and we should have the patience to experience the goodness of bitcoin acceptance. Even the large corporate firms have failed in bitcoin acceptance into their business even after big promotions. So, when we make a plan to accept bitcoin we should have the better understanding and have the waiting time to receive good business.

If Bitcoin is accepted in business then Bitcoin adoption will definitely bring good things to the business. Many people may underestimate your decision in the first stage of Bitcoin adoption but everyone will encourage you when you adopt your business. I have seen a few people who have adopted bitcoins for their own business only as a hobby. For example, Bitcoin can be accepted as an alternative transaction method for petrol pumps, there are various business channels, as well as Bitcoin transaction systems are available at various restaurants or coffee shops. In all these transaction systems many prefer to transact through Bitcoin even if they have cash and curiously many transact through Bitcoin so if Bitcoin transactions are introduced in the business field along with other transaction mediums then that transaction system is definitely good for business.

[legendbtc]

I think this is a good move as you are keen to do and already accept bitcoins at your mother's tailors. But if your country's government isn't too keen on Bitcoin, it might be a negative. Since you are interested in investing and holding Bitcoins, you must have good knowledge and understanding of Bitcoins. You need to gain full knowledge about market volatility in bitcoins as you may encounter market volatility at any time. Also you need to analyze about bitcoins and then hold your bitcoins for future. And for this decision of yours I think you have taken a good step, you must invest for a long time but you can earn good profit.

His government is not too interested in bitcoin, and they have not banned it so it cannot be called negative. He is even luckier than many to live in a country where bitcoin is still banned. Since he mentioned accepting bitcoin for his mom's tailoring shop, I think not only he but also his mother should be knowledgeable about bitcoin before deciding to accept bitcoin as a payment method. His mother still makes the final decision so he should focus on teaching her about bitcoin.

[fruktik]

I mean if your really interested on investing on Bitcoin just do it and start your journey already, what you can do is dollar cost average to lower your risk and at the same time you could just invest the money that you want weekly or monthly.

Well, with such reflections only in a positive direction, nothing will work. There are an incredible number of variables to consider in this equation. For example, a total ban on all transactions with cryptocurrencies in the country. How then to act, so as not to end up behind bars? Do you have an answer to this question?
It would be so easy, but no. In addition, in my state, a tax is levied on the possession of such assets, but it cannot be used as a means of payment. Well, why do I care?

[Hanadawa]

Am currently working on convincing my mom to accept Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Bitcoin is an investment asset and I think that's how Bitcoin should be. Making Bitcoin as a means of payment for now I do not recommend because Bitcoin has price volatility and a lot of costs that must be incurred if you then want to exchange FIAT money. Especially for businesses that need a few denominations of dollars and the need for capital expenditure at her tailoring shop. It's better for you to focus on considering BTC as your asset that you collect with your savings, not by using your business money.

[Lorence.xD]

I mean if your really interested on investing on Bitcoin just do it and start your journey already, what you can do is dollar cost average to lower your risk and at the same time you could just invest the money that you want weekly or monthly.

Well, with such reflections only in a positive direction, nothing will work. There are an incredible number of variables to consider in this equation. For example, a total ban on all transactions with cryptocurrencies in the country. How then to act, so as not to end up behind bars? Do you have an answer to this question?
It would be so easy, but no. In addition, in my state, a tax is levied on the possession of such assets, but it cannot be used as a means of payment. Well, why do I care?

Some country really banned crypto due to mining that has an impact to the economy and to the environment as well. But if the case that wouldn't reach that far like going to jail then it's worth a try. I have read here that in the China crypto were banned like the IP address but still most of them are still usign crypto as source of income via what? Of course the VPN thing. Only problem is when they tried to cash out a huge amount from crypto for sure they would be asked where it came from and they would asked them for a proof like a salary income which I have experienced in the bank. But I wouldn't risk myself using crypto in a country that prohibited it depends on the case like behind the bars sht.

[salad daging]

-snip- am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Why you need to convince your mom to accept Bitcoin? You can't force any one to accept Bitcoin. You only need to share Bitcoin information to your mom. Whether he will accept it or not, it is up to her. I think you are better to focus on planning to hold Bitcoin for you own investment. However, you must buy the Bitcoin with your own money, don't use your mom's money.

A mother will find it difficult to understand bitcoin even if she has told any information about bitcoin, this is clearly not forced let your mother choose what she likes because your mother will control this business not you.

Don't think about the others and obviously focus more on your own plans and I agree with you that this all has to start alone without involving or inviting others.

Since this thread has been a few months so don't know if he has convinced his mom or not.