I am thinking of setting up a business with a friend where we provide the means for local business's to accept payment in the form of BTC and other prominent crypto currency.
Veeky Forums you have been good to me so far, provided sound advice so I just wanted to hear your thought on good idea's for such a business. We have a rough idea but just wanted to hear from you guys as well. Also any tech ideas would be much appreciated Best idea's will earn LINK
There’s a number of online payment providers that handle the whole thing for you already. I hope you’re not planning to roll your own tech, but rather integrate with these.
Owen Jenkins
lookup the transaction fee for moving bitcoin
Austin Miller
Link? No thx
Christian Taylor
This was the rough plan. Just trying to figure out how we form a business around it, any thoughts?
thanks for replying by the way
John Brooks
>"That'll be $5 for the coffee, user" >"I'd like to pay with Bitcoin" >"Sure, here's our 2d barcode. We recommend a tx fee of 150sat/byte" >"But that's $25 dude" >"You see those people over there? They paid less than 100sat/byte and are still waiting for the coffee they orders hours ago"
Ethan Collins
this
you should accept something with low TX fee
ETH after the kittymania ends or maybe iota when it actually becomes functional
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Jordan Carter
>"Can I just buy a coffee with my debit card? We've been waiting for 2 hours." >"NO MARIE! This is the future! Just 2 more confirmations!!"
Brandon Evans
>MFW this small, fast, cheap and secure payment is literally what DGB was made for but it'll never make it because it got massively P&D'd and now everyone thinks it's a scamcoin.
Lincoln Price
Wait for OmiseGo for next year.
Parker Perez
Request Network release APIs on Friday with the Colossus update; I'm confident you have a good 6-12 months to dominate the Stripe-goes-crypto market with REQ and some basic coding ability before it goes mainstream once mainnet releases Q2 2018.
Kevin Hughes
I am very interested in this. Could you expand upon this a little bit please?
Nolan Rodriguez
if you live in sydney AU i will gladly help. for a fee...
Juan Scott
>blockchain and cryptocurrency adoption consultant
>maximizing your profits by eliminating the middleman and potentially increasing your customer base.
ez pz
Noah Walker
Out west but post an email and we can discuss this further?
Grayson Howard
OP, the best way to pick up their interest is to link them up with a bitcoin ATM machine.
This will draw in lots of cryptofaggots for the sole reason of using the bitcoin ATM, then once there and they notice payments are also accepted in crypto, it might entice them to use crypto in the business.
There are no real downsides to operating a bitcoin ATM, its essentially free money for the operator.
Jeremiah Murphy
Yeah actually request is a really good platform. You can choose whatever currency you want to accept but I still wouldn't make it bitcoin.
What's the fucking point of Bitcoin then? Can't event buy a dollar menu?
Elijah Hughes
This actually a really really good idea! Is it hard to set up though?
Do you have a rough idea on an initial cost?
Logan White
In Japan BTC works right now because they don't require confirmations. People there are not poor and don't steal. Fucking uncivilized people everywhere else. Anyways, when LN comes, BTC will be everywhere too
Jackson Allen
10k or so, depending on a lot of factors. But yeah that guy is right, BTC ATM is a great idea, and maybe you can set it up so you get a percentage
Here in UK lots of small shops are starting to put them in because of the extra revenue they bring.
Isaac Scott
Target businesses that don't need a quick confirmation of payments (real estate comes to mind). Which is the biggest hurdle right now. If almost nobody takes BTC, it's ridiculous that anybody will ever take any of those obscure shitcoins.
Joseph James
Also can I haz link? :D
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Andrew Morales
>buy coffee with bitcoin >that would be 2 dollars, plus 8 dollar fee >ok thanks for your purchase, your coffee will be available on 5 confirmations, approximately 40 minutes
Henry Moore
There are already pubs here in UK where you can buy pints of beer with bitcoin faggot.
He just hacked his POS system to display his QR code for his business wallet and then people scan it.
It isn't that hard and I guess OP could sell this to normies who don't know how to set up such a system (the pub owner is a computer scientist)
Jacob Lopez
Side question; there is some extremely cheap retail space near to me in a half-abandoned shopping mall that is not dumpy, just under-used.
I am trying to conceptualize the dynamics of having a Cryptocurrency store. Where users can come in and trade cash for crypto. Also, they can learn about it, buy merch, or maybe some other way I can make money.
But I dont know the legalities of this. I could easily see being raided for facilitating money laundering -- but, how do bitcoin ATM's get away with it?
Jaxson Parker
They scan fingerprints / ID / passport if the person is depositing over a certain amount of fiat into the machine.