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What would the condition of a company be that took Bitcoin only as payment be this week, now having to replace inventory and make payroll with payments they took in last week?

Say a business with a Net Profit of 5% like most restaurants. Or a grocery with a typical net profit of 1.5%?

Don't react emotionally to this and throw your crayons at the wall. Instead do the math, get a real answer. Be a grown up. Accept reality.

I will stack forever but I will never make bad business decisions due to my Asperger's syndrome. Rein in the autism guys, be smart with money.

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Discussion

61bb909b... 11mo ago

It would suck. But obviously they’d be ahead if they had that strategy for the last year.

I think even bigger than the significant volatility issue is that only a tiny fraction of a percent of customers want to pay with Bitcoin. Security/tech uncertainty, capital gains and selling fiat first make it annoying for even bitcoiners.

Filou 11mo ago

You just have to think a bit bigger picture / longer term. No one is doing business based on daily/weekly market fluctuations. If your business can not take a 10% or even 20% drop in short term purchasing power you may as well pack it up now.

On the longer term, anyone running a business on a Bitcoin standard over the past year or more is doing very well.

Jack Spirko 11mo ago

SORRY WRONG

Every large business on the planet is running on weekly cashflow.

The problem is so many of you have NEVER RUN A BUSINESS like this and you live in a fantasy land. Absolute fantasy ass land.

There is no logic or reason in your response it is just what you want to be true.

Have you ever run a business with a large supply chain and a payroll to make weekly? No? I didn't think so.

The guy doing this the best right now is Saylor and he isn't do anything that jacks with cash flow.

Running on a "bitcoin standard" for a company requires RUTHLESS cashflow management in fiat with regular sweeps of fiat into Bitcoin.

Don't tell me about your little soap business or the hot sauce you sell or your pet sitting business, etc. Tell me about making a payroll with say 12 employees which is a BABY STEP in this world.

I ran a company where I had to make payroll for 52 employees biweekly and to over 2500 contractors including Per Diem every week all over the world. Your concept that this could be done with receiving payments in Bitcoin at even 25% of sales is IDIOOCY They only way would have been instant swaps to USD which is what any big company that "takes bitcoin" is doing.

And this business was a people business we didn't even have a supply chain other than say office supplies, etc. Oh how about an electric bill of about 10K a month, building lease at about 25K, etc.? Workman's comp, employee insurances, etc.

Sorry bro you live in a world of NON REALITY.

The BTC DDS 11mo ago

This 👆I scrape by from week to week so I can hold as much of my initial working capital from opening my practice in Bitcoin. The most fun time is when payroll and credit card bills fall on the same week. Everyone should be a small business owner to really understand how the world works

. 11mo ago

Exactly. It is also very difficult to sell products for sats because you nearly always have to buy the product initially in fiat. You are basically just buying sats via inventory. Might as well just separately buy sats with income.

Jack Spirko 11mo ago

Why do so many struggle with this simple reality?

I blame functional autism.

Node Runner 11mo ago

I measure in millimeter, and cut in inches.

Brunswick 11mo ago

Volatility kills business