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Bitcoin?

• gravypod 11y ago
  The problem with bitcoin is very similar to credit. It is extremely difficult for a small business to liquidate. There is also the added problem of protection. With credit and banking, you are ensured and regulated. Without, you are left to your own ability. But those aren't the biggest problems. The problem is how do you pay taxes with bitcoin? Their market value at acquisition? Does the market fluctuation between collections and taxes count as interest/losses? Do you have to pay taxes on money lost for changing bitcoin to local currency? These are all very large problems for a business owner.
  • biafra 11y ago
    You could accept Bitcoin via Bitpay (or any other payment processor supporting immediate conversion to fiat) and receive fiat currency. The good thing is: No chargeback possible.
    • gravypod 11y ago
      That is a very bad thing for consumers. I'm assuming BitPay skims some cream from the top, so you would still have the same problem of cards.