• Bud
    17k
    I still don't fully understand what Bitcoin even is or how it works, but I want to be able to accept it as a form of payment.

    Does anyone here have experience with cryptocurrencies?
  • Gergin
    77
    I use bitcoin for online Poker. Fast and easy. I also use them for purchases and an investment.
    Read everything you can and talk to as many users as you can. I don't understand everything, but so far Im winning.
  • Saeed
    82
    Hi, I would recommend against accepting BTC or any other crypto. You will get burned on taxes..
  • juxt
    2k
    I have enough experience and tangential knowledge to be dangerous ;) PM me if you have some specific questions or happy to chat. For the purposes of accepting bitcoin currency, get a reputable US based processor who will handle the transactions for you and don't worry about it...if you want to start buying/selling and accepting into that same account then different story and longer deal.
  • To the Cloud
    605
    We've been taking it for a while, we also take Litecoin and a handful of others. Started accepting it in 2015 and was insane way up but not many people used it , now that it's popular alot of people are using it on the way down. No one knows what the future holds, no experts, no whiz analysts , just opinions. It could go to zero it could go to $50k
  • game 7
    80
    I figure that when you are able to pay your utilities with Bitcoin, that's when you embrace it. Until then
    I would stay clear.
  • SirCrackKillaH
    809
    All over the place. Investing bah it’s whatever man.. accepting as form of payment.. coinbase, loafwallet are on point..
  • SirCrackKillaH
    809
    Litecoin is cool. Ez to use
  • Bud
    17k
    I signed up for Bitpay anybody use it before?

    It seems the way it works is that if I accept payments in bitcoin they're converted to USD and deposited to my bank on a daily basis, so there's no HODL'ing going on :sweat: :sweat:
  • Bud
    17k
    But yea I've been watching the general price of BTC the past few months, and I don't think I'd wanna be a holder right now unless I got in early.
  • BobCat
    2.7k
    Will these be person to person transfers or will you be acting as a merchant? If you're a merchant the minimum invoice amount is $100.
  • Bud
    17k

    Like I want to be able to accept a $16 payment in bitcoin for a t-shirt online, no good?
  • BobCat
    2.7k
    Not if you're a merchant my brother. Sorry. They made the change in Dec 2017 to offset overhead costs.

    https://blog.bitpay.com/minimum-invoice-update/
  • Bud
    17k

    Fukkkkkkk thanks for the heads up!!

    So I guess if anybody wants to buy a shirt with bitcoin the price is 100 bux :lol: :lol:
  • Bud
    17k
    I'll sign it :roll:
  • davidbarker
    5
    Post removed, spam
  • Wallace
    197
    Ok ... But I just can't see how you can live without a job using your strategy. Because since the 2018 Jan fall the Bitcoin has never doubled in value. And has been falling with little gains in between falls. Soo....
  • EconMan
    4.5k


    "Blockchain based monies" are bullshit. It is just another fiat currency, albeit, a private one. And soooo full of irrational hype only those currently living in a imaginary version of "Galt's Gulch" can join the cult.

    As they say, "bitcoin" is a horrible way to buy a shirt. And it always will be.

    BTW. For merchants, a good way to lose your credit card Merchant Banking account is to also accept BTC (or any crypto). Only a few merchant banks in the US permit it. When I get a new client who accepts BTC and who has any sort of thing bankers would consider a demerit, the first thing I do is have them stop accepting BTC.

    Governments don't like monetary competition and its numerous agencies are fighting a war against crypto in general, in the name of national security. The international banks are also in the fight, and bitcoin isn't likely to double in value. It is likely to drop by half. Everything is against it, and it isn't ever going to be a real commercial monetary system anyway, even if it was desired. Jut too many rabbit holes.
  • samanthas
    3
    For the first time I heard about cryptocurrency when bitcoin was $200-$300 in the beginning of 2015 but I did not invest in it as that was my first time learning about it. I think I was just like other newbies, who collected it freely through some faucets and giveaways. Then I went into bitcoin mining. I didn't earn alot. Though I believe the chance to make more money through bitcoin is still exist, hold for the next bull run although we do not know when the time will come.
  • Ctipp22
    2.2k
    I used to own a lot and traded for awhile. I saw it was going sour and dumped my bags.
  • To the Cloud
    605
    Bitcoin saved us so much money in taxes because we sold items which cost us $200 and the bitcoin ended up being worth $50. It reminded me of that old commercial where the financial advisor calls up his client and says " John , good news, you don't have to worry about money anymore, cause you don't have any"

    We started taking it in 2015 when fuckin no one used it. Then once the mania hit it started pouring in. We just held it and still do, but as you can imagine it was more popular to use ahead of every major down turn. Everytime bitcoin orders picked up the price just sunk

    Still holding it and accepting it as a hedge. Who knows what will happen it was steady at $4k and is holding $5k nicely.
  • EconMan
    4.5k


    LOL :rofl:

    As I always say, to the consternation of the fanboys, it's still a shitty way to buy a shirt.

    I don't care if people call it an investment, but it is NOT a good money. It is not an independent unit of account, not a good store of value, and a horrible medium off exchange. It is backed by nothing (at least the USD is back with police power -- the ability to financially oppress future generations via income taxation) and is convertible into nothing, except through quasi-barter.

    I had a little over 50 btc from when I was doing academic research in its early days, in an attempt to figure out its mechanics. After the paper was finished, I had forgot about my keys for years, until stumbling across them by accident. Had them stored on a thumb drive in the research box for my paper. Sold them to greedy monetary morons at an absurd profit of epic proportions. A month later it crashed hard. :nerd:
  • To the Cloud
    605
    WOW so you sold them in December 2017 ?

    I agree with everything you said but there are also arguments for it

    at least the USD is back with police power -- the ability to financially oppress future generations via income taxationEconMan

    Mitigating this , going around the bankers and the government to lessen their power is a good "pro bitcoin" bullet point.

    I honestly don't care if it crashes or soars. But yeah it is funny my dad isa libertarian nut job and he sold all his in the 15 - 20k range for USD which is hypocritical. The hype also did drive alot of shady assholes into it , I have a Trezor wallet with all these different alt coins , i checked it the other day and I couldn't access half of them , or they were not supported. I don't see how the crypto system will save us from the "deep state" when there are always forks , and then this coin isn't supported here anymore or you update this wallet and lose all your coins.
  • highasakite
    239
    But yeah it is funny my dad isa libertarian nut job and he sold all his in the 15 - 20k range for USD which is hypocritical.

    lol

    wat
  • EconMan
    4.5k
    WOW so you sold them in December 2017 ?To the Cloud

    No, I would have to check, but it was literally right at this time last year... as I recall I sold somewhere slightly above $10k and I only paid something like $10 when I bought in (and mined) for the research paper. I forgot about them, until the BTC price went all 'Tulipmania" and then I remembered I once had them (early 2012 I think?). Could not find the keys anywhere that I stored drives, parts, junk..... it was in a thumb drive that was in the folder of research materials for my paper.

    Yes, there are arguments "for it". "It" being competitive monetary systems. But it is a horrible money.
    As far as "going around the bankers and government", well, the Empire Struck back hard. Remember the SIlk Road? That guy is in jail long time, and he never once sold anything illegal. If you want a Merchant Account, I doubt there is one sponsor bank left who will extend credit card processing to a merchant who also accepts BTC. It is a "deal killer" to about every bank we do business with. If I set up a BTC payment gateway, I have to report it to the government.

    Oh, and as soon as i did my taxes, you guessed it, I got audited. I had no "receipts" as they called them from when I got the BTC's, and the IRS was not happy. Fortunately, it got worked out as I wrote them a check for a couple hundred k back when capital gains tax was just stupid.

    As I write, governments around the world are waging an effective war against Crypto. Like your father, I too am a :starstruck: "libertarian nut job," :starstruck: however crypto it seems has become too much a faith-based :gasp: religion :gasp: for some of the less thoughtful libertarians (some just want smoke weed). Some I suspect fancy themselves as "John Galts" when in fact they are "James Taggarts". And if you think libertarians are freaks, go hang out with some Objectivists. :grimace:

    I NEVER invest emotionally. I SPEND emotionally. I SAVE emotionally. But I NEVER invest emotionally. Crypto is NOT gold, nor in any significant way resembles it, which is what I have my "zombie apocalypse" hedge in. :joke:

    lastly, I am NOT Satoshi Nakamoto :rofl:
  • To the Cloud
    605
    lastly, I am NOT Satoshi NakamotoEconMan

    Yeah you are only Satoshi would say he's not Satoshi

    I also only invest emotionally. it's why I lost so much in pot stocks
  • EconMan
    4.5k
    I also only invest emotionally. it's why I lost so much in pot stocksTo the Cloud

    I love you man! :100: #NotPretentious
  • stingisthebest
    0
    You can add several links to different wallets in different cryptocurrencies, you can choose the most popular ones.
    The only thing you need somewhere is to save your passwords from wallets and not lose them.
  • Bud
    17k
    Who knows what will happen it was steady at $4k and is holding $5k nicely.To the Cloud

    Not bad in a few months broski!

    k5m8x6z35l3li1xx.jpg
  • Bud
    17k
    are u a real person or spam? no offense if real
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