Help Me Convince My Boss To Accept Bitcoins

[pilardi]

Are you really charging 1% for all this, or did you conveniently forget to correct the OP on this point?

Are you expecting them to do it for free?

1% sounds really reasonable, its still 2% lower than paypal and CC's.

I think he was referring to the fact that bit-pay appear to be charging 3% for all of those service (according to the wiki). 

bit-pay.com mentions: "Processing fees as low as 0.99%", but I couldn't find what they charge for direct deposit in dollars.

[1714126627]

1714126627

[1714126627]

1714126627

[1714126627]

1714126627

[1714126627]

1714126627

[rjk]

Are you really charging 1% for all this, or did you conveniently forget to correct the OP on this point?

Are you expecting them to do it for free?

1% sounds really reasonable, its still 2% lower than paypal and CC's.

I think he was referring to the fact that bit-pay appear to be charging 3% for all of those service (according to the wiki). 

bit-pay.com mentions: "Processing fees as low as 0.99%", but I couldn't find what they charge for direct deposit in dollars.

They charge 0.99% for direct deposits to your wallet using their API and such, and 2.99% for converting to USD and depositing that to your bank.

[BitPay Business Solutions]

They charge 0.99% for direct deposits to your wallet using their API and such, and 2.99% for converting to USD and depositing that to your bank.

That is correct.

All of our options are listed here on our site, with the costs and limits involved.  

https://bit-pay.com/accountingHelp.html

I should add that there is no faster way to convert bitcoins to dollars in your bank account than using Bit-Pay.  We beat all of the exchanges by several days time.  Even with our Deposit Card, you can send bitcoins to yourself and we will send a direct deposit to your bank account the next day.

My Deposit Card came with Nissan keys.  When I want to sell bitcoins, I can just scan and send them to my card, and dollars will be sent to my bank account the next day.  No dwolla, no waiting!

[Lazer]

Appreciate all the replies!

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol 

[markio]

What can you buy with bitcoins?  You can buy fuckin' lasers and shit... the future, man...

[kjlimo]

A few things that haven't been explicitly said yet:

1) How about you tell your boss he can pay you in bitcoins?

2) Let him know that there are tons of websites promoting businesses that accept bitcoins.  This would instantly get you a ton of free advertising.  I'm not sure how much that helps, but it's still something.

The bitcoin community is very supportive.

The standard reasons for why a merchant should accept bitcoin is that bitcoin has cheaper fees as well as no charge backs.  This helps the merchant keep their revenue rather than having to split it with the credit card companies that make your margins smaller.

[Elwar]

Quite honestly, I do not believe that Bitcoins are ready for corporations that have accountants and accounting software. As much as I support any business using Bitcoins.

Likely your boss accepts checks for payment which costs no money. I doubt there are credit card purchases at that level.

If he is accepting credit cards for any part of his business, then bit-pay is certainly a viable option.

If there are large purchases over long distances (wire transfer, etc) then Bitcoin is a viable alternative.

If your boss has ever had to deal with a chargeback then he may be interested in Bitcoin as a solution for that.

[kjlimo]

I think the accountants could handle it.  It would be the same has holding a foreign subsidiary in Canadian dollars.

I've dealt with it regarding pension plans (I'm a retirement actuary), and I'm sure it wouldn't be too hard to deal with the other currency.

[Technomage]

Indeed, accounting isn't that big of an issue. All legit businesses must pay taxes in fiat currency so Bitcoin at this stage is only relevant as a meta-currency. Prices are established in fiat and then converted based on the exchange rate.

There are potential software issues of course but nothing that can't be overcome.

[schnak]

Appreciate all the replies!

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol 

ill take a stab at it here too... assuming i can afford em id probably buy one to.

[rjk]

Appreciate all the replies!

I'll buy one if your boss accept Bitcoins.

thanks, I'll mention this

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol 

ill take a stab at it here too... assuming i can afford em id probably buy one to.

I think he said Industrial lasers, which means big massive ones that are expensive. Not pointer pens lol.

[EhVedadoOAnonimato]

Have you told your boss the IRS cannot know how much bitcoins he receives?

our accountant is not a magician, he cant make a large piece of equipment disappear off the books, unfortunately lol 

Sorry, I didn't pay attention to the "industrial" adjective.
Well, even though you can't make them disappear, you could theoretically declare them at a lower value. But I suppose that would need the buyer to do the same (not always an option), as well as it might prohibit you from reimbursing full VAT on the raw materials, if you're subjected to VAT.

Fucking taxes...