No longer accepting bitcoin
OK.. Firstly, lets make my position clear, I love Crypto and Bitcoin is King...... However... I think its kind of broken and I want some more opinions.
I bought my first Bitcoin in 2015 followed quickly by some Dash & Litecoin. In 2016 I expanded my portfolio and speculatively bought a range of altcoins and have been saving ever since.
As a self employed sole trader, in April 2016 I decided to start accepting Bitcoin as a method of payment for my services. Take up was verrrry slow initially but eventually word got around and a few Crypto fans started to seek me out. I now have a small number of regular clients who like to pay in Crypro which was great, then all of a sudden Q2 in 2017 happened.
Like anyone who has a few Bitcoins , when prices soar it is exhilarating. but I have come across an unexpected negative. I have absolutely no idea how much to charge anyone anymore? The price fluctuations are so volatile (£1000 in 24hours) that there is no way I can put together a reasonable pricing structure. How can you?
The last crypto client paid in Litecoin as we simply couldn't agree on a BTC price.
So for that reason I no longer accept Bitcoin (which makes me sad). It simply doesn't work as a currency (currently).
Its a good job there are plenty of really good alternatives.
I'd be interested to hear your thoughts!