30 Mar
2012
30 Mar
'12
8:52 a.m.
Hello,
My annual renewal for my VPS is coming up. I was about to click pay and I
thought I would ask this question first: how do you (bitfolk and other users)
feel about Bitcoin as a payment method?
http://www.weusecoins.com/
Wherever possible I'd like to use bitcoins for payment, as it's incredibly
convenient. For me it's not a deal breaker; it's merely a query. (compared
to paypal I guess it would make you a few extra percent of profit)
Normally I don't ask suppliers, because bitcoin isn't big enough yet that I
think I'll get a sensible answer from them; but Bitfolk has always struck me
as being ahead of the technological curve.
Andy
--
Dr Andy Parkins
andyparkins(a)gmail.com
30 Mar
30 Mar
10:10 a.m.
Hi Andy,
On Fri, Mar 30, 2012 at 09:52:48AM +0100, Andy Parkins wrote:
My annual renewal for my VPS is coming up. I was
about to click pay and I
thought I would ask this question first: how do you (bitfolk and other users)
feel about Bitcoin as a payment method?
In theory I'm completely happy with it, and am even a little bit
into bitcoin myself — I have 10.23 BTC in my wallet. :)
But…
Normally I don't ask suppliers, because bitcoin
isn't big enough yet that I
think I'll get a sensible answer from them; but Bitfolk has always struck me
as being ahead of the technological curve.
…unfortunately BitFolk's accountant doesn't really know how to make
sense of it. The concept of virtual currencies strikes fear ,
uncertainty and doubt into their hearts, not joy. I don't really
want to push them over it at the moment.
There has been a feature request for this for some time (but it was
created by me!):
https://tools.bitfolk.com/redmine/issues/63
Please do log in and vote it up if you are interested in it. I will
try to revisit the subject with my accountants if interest is shown.
Cheers,
Andy
--
http://bitfolk.com/ -- No-nonsense VPS hosting
10:53 a.m.
On 2012 March 30 Friday, Andy Smith wrote:
In theory I'm completely happy with it, and am
even a little bit
into bitcoin myself — I have 10.23 BTC in my wallet. :)
Ha. I knew I was right about you chaps -- forward thinking all the time :-)
…unfortunately BitFolk's accountant doesn't
really know how to make
sense of it. The concept of virtual currencies strikes fear ,
uncertainty and doubt into their hearts, not joy. I don't really
want to push them over it at the moment.
That's fair and sensible enough. As I say: it's certainly not a deal breaker
for me; and certainly not in the case of a company as good as you are.
I don't know it it helps but I've heard that Mt.Gox have a checkout system
either out or coming out soon that allows your webservice to quote a price in
fiat (GBP for you I guess), have it settled in bitcoins and then have them
instantly converted back to fiat for delivery to you. In that case, from the
point of view of the accountant, it's just another paypal, price in pounds,
payment in pounds -- bitcoin was just the transfer mechanism.
There has been a feature request for this for some
time (but it was
created by me!):
https://tools.bitfolk.com/redmine/issues/63
Please do log in and vote it up if you are interested in it. I will
try to revisit the subject with my accountants if interest is shown.
Great stuff. Done.
Andy
--
Dr Andy Parkins
andyparkins(a)gmail.com
11:37 a.m.
On 03/30/12 21:10, Andy Smith wrote:
…unfortunately BitFolk's accountant doesn't
really know how to make
sense of it. The concept of virtual currencies strikes fear ,
uncertainty and doubt into their hearts, not joy. I don't really want
to push them over it at the moment.
From an accounting point of view it should be treated no differently
than accepting say euros in physical currency, and you get taxed on any
profit, or claim a loss, from the exchange rate conversion back into
what ever currency you usually trade in.
The key so you don't loose out too much would be to have an account with
an exchanger so you can flip things over quickly as bitcoin isn't mature
enough yet to be a stable currency so there just as much potential for
loss or gain which could hurt a small enterprise as it may become a
large percentage of your business due to not having any middle men to
take their pound of flesh from the transaction.
31 Mar
31 Mar
5:03 a.m.
PS the bitcoin wallet app for android is pretty nifty, is anyone able to
cook up a GUI similar on linux using QTQR for the QR code producer/scanner ?
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4 comments
3 participants
participants (3)
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Andy Parkins -
Andy Smith -
Duane