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Author Topic: Considering accepting Bitcoins as payment. Anything I should know in advance?  (Read 1291 times)
MindOfMetalAndWheels
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May 19, 2011, 07:26:18 AM
 #1

I'm the sole operator of a small time management coaching business and I am considering accepting bitcoins for payment as a bit of an experiment.

Does anyone who has successfully accepted bitcoins for their own business have any advice or thoughts on aspects/complications I may not have considered?

Thanks in advance.  

Edited to add: I've just added my eBook at 50% off on bitcoinservice.co.uk as a super-mini test, but I'm still curious about peoples' experiences selling more expensive services with this currency. 
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Cryptoman
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May 19, 2011, 05:33:47 PM
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I ordered one of your eBooks.  It looks like you made the download available immediately.  You might wish to wait for 1-6 confirmations for higher-value transactions (you can use a sliding scale if you like).  Other than that, there are really no risks.  The person sending the irreversible Bitcoin payment bears pretty much all the risk.

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
MoonShadow
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May 19, 2011, 06:37:08 PM
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I ordered the ebook for .3 BTC, but the download didn't work for me.  I just ended up with a screen full of garbage data that I couldn't save to disk.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
MindOfMetalAndWheels
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May 21, 2011, 04:38:13 PM
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PM me your email, and I'll send it to you directly.  Free of charge for your troubles and trying out the system.
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May 21, 2011, 05:06:35 PM
 #5

I'm the sole operator of a small time management coaching business and I am considering accepting bitcoins for payment as a bit of an experiment.

Does anyone who has successfully accepted bitcoins for their own business have any advice or thoughts on aspects/complications I may not have considered?

Thanks in advance.  

Edited to add: I've just added my eBook at 50% off on bitcoinservice.co.uk as a super-mini test, but I'm still curious about peoples' experiences selling more expensive services with this currency. 

My only advise is to minimize market exposure to your revenue stream.  You may hold some BTC in reserve as an investment, but keep your cashflow in the currency it will be spent in.  This can easily be accomplished by converting your bitcoins as soon as possible after acquisition.

Feed Ze Birds Pay and get paid for tweets
Coinapult Send Bitcoins easily over email or text message
MindOfMetalAndWheels
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May 22, 2011, 10:17:16 AM
 #6

Interesting.  It seems a few people have had trouble with the site.  (I hope I've emailed all of you a copy, if not, get in touch)

Has anyone had a successful experience with the site for other peoples' files?
graingert
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May 22, 2011, 11:40:43 AM
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Would it be possible to make available the kindle ebook version but DRM free via Bitcoins?

As PDF is not that great for ebook readers.

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MindOfMetalAndWheels
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May 22, 2011, 12:45:02 PM
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Would it be possible to make available the kindle ebook version but DRM free via Bitcoins?

As PDF is not that great for ebook readers.


Sure.  Send me an email ( Grey@CGPGrey.com ) and we can work something out.
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