Replying to Avatar SweetSats

Our IRL business offers customers a choice between added 3% credit card fees *on top* OR a 10% discount for bitcoin payments. Considering that most businesses operate on somewhere around a 30% margin or markup, being willing to offer customers a10% discount is basically already cutting any ‘profits’ by 1/3.

On the other hand, I personally believe when it comes to incentivizing #Bitcoin use, the onus shouldn’t be on small businesses at all. IMO it should really fall on #Bitcoiners who want to incentivize bitcoin adoption to be willing to pay MORE in order to convince businesses to accept bitcoin as payment. Flip the tables. We *want* to be able to SPEND bitcoin everywhere and anywhere. The only way to make that happen is to make it worth while for everyone involved.

The more we are willing to spend our bitcoin, the more businesses will accept it, the more valuable it becomes – and the cycle continues.

I know I am personally happy to pay a small mark up to help support Bitcoin-based businesses and services. I’m also glad to offer a discount on my proof of work if you #paymeinbitcoin instead of fiat 🤙
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Black Sheep Rehab 1y ago

As a landlord, I offer 10% discount on rent paid in BTC. I also offer to walk a tenant through how to source it and pay for it (using Strike, so they never need to own it) Only 1 has taken me up on it, which requires patience with the initially low limits on Strike.

I am required by our charter to pay out income quarterly, so any more of a discount creates more risk of covering a significant 3 month drop. Trying to get all my investors to take a split payout in fiat and BTC to alleviate the need to convert back to fiat to cover. No clean way in Quickbooks to track income in 2 currencies.

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Chuckin Bitcoin 1y ago

That 1 tenant might eventually orange pill many others in their life. It's definitely going to be a slow grind to help people adopt it and use it though. I'm trying to orange pill my landlord. He's slowly starting to come along.

If you ever want to ditch quickbooks, Firefly III is a FOSS accounting software that supports multiple currencies including Bitcoin. I am using it for my business. https://www.firefly-iii.org/