Slipping ..
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[list][quote name=“iawgoM” post=“57997” timestamp=“1391902651”]
[list][*]Say I am a merchant (registered company), and I want to sell stuff for CC. I calculate the price (should be automated), buyer pays me certain amount of FTC. And then what? Is there any country that has actually defined CC legally? How do I explain this to IRS? How do I, as a company, get fiat out of it? Don’t know if it’s allowed to sell 4GB RAM for a sack of potatoes, unless I exchange those potatoes for fiat, and then I can MAYBE explain to tax clerk that I have actually sold RAM for money…? :) Anyone care to explain how this is done?[/list][/quote]OK so speaking to an accountant friend of mine, this should be no different than excepting a payment for a UK in company in say USD, You recored the exchange rate at the point you received the FTC, and that is what it should be [b]taxed[/b] at, if you happen to exchange it at a different rate to the day trade rate then so be it. [b]Please note this does not constitute advice!!![/b]
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[list][*]I hope that answer to above is not: you keep the CC for yourself, and pay your company out of your pocket (basically you buy CC for yourself, and company has to “fake” who actually bought the RAM?).[/list]
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Why do is anything need to be faked? Just invoice your pocket from the company for the FTC. As long as you can prove that the payment made from your pocket was at the day exchange rate I don’t see why not, but please remember, any profits “you” make on that FTC should in turn be declared on your tax return! [b]Again Please note this does not constitute advice!!![/b]
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[list][*]I can get in touch with one awesome merchant (Kickstarter funded much more that they asked for) who will soon sell stuff that EVERYONE wants (major world companies, I’m not allowed to speak of any names yet). Maybe, just maybe I could convince them to take crypto, maybe even limit it at first time to FTC, don’t really know how much influence I could have there, but worth a shot! They probably wouldn’t say no if we serve them with full solution regarding point #1.[/list]
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Now this is what we are talking, adoption will lead to stability and growth :) I’m sure the key here is detailed and accurate records of the transactions regarding FTC, or any other crypto for that mater, is the key here.
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[list][*]P.S. A good start will be, that I’ll buy certain amount of those products (gadgets) and offer them exclusively on Feathercoin market :) Basically, I’ll be buying FTC and give FTC users a chance to purchase something that is new/cool/useful and not something form “garage sale” as someone said above…
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Ohh now you have to give us more information than that, I have spent unfolds amount of money on the latest gadget I will continue to do so till SWMBO says stop, but trust me she is never going to say that ;)[quote author=MrWyrm]
I work in retail systems, I have the same concerns, from what I would imagine, most retailers will be very happy to take reduced payment fees vs chip & pin, pingit, paypal et al but have very little interest in the technology or the currency behind it. If it reconciled once a day and spat them out fiat, I think it would be an easier sell.
[/quote]I have to agree with you, after the scan.co.uk post today, I took a more detailed look into BitPay.com and they do just that on the surface, where as FTC payment engines like coin payments.net spit out your payment in FTC. This is going to cause cash flow issues for a lot of smaller business due to the volatility of CC.
UM
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Totally agree about cash flow. It’s a perfect technology for small business. But the butcher, the baker and candle stick maker needs a fiat off ramp suitable for the tech illiterate.
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Are there FTC bounties in place for particular services or client applications? Maybe what needs to happen is that we recognize that FTC is the perfect playground for developing services that can be turned on easily to more highly valued (and therefore prone to less freedom to try ideas and fail). This could also apply to crypto ideas, but I’m talking more about services - you know, things that make regular folks more comfortable using it. As an example, of most people were aware of the house of cards that is credit card processing, I doubt they’d use them. I doubt even more people would use them if they had to navigate this mess themselves. Things like credit cards and moreso Pay Pal hide all the nasty bits - and truthfully regular folks don’t care how their credit or debit cards work, they just care that they do. So thinking of FTC and CC as simply alternate payment networks and putting a familiar face on the would do a lot of good.
tldr below; most consumers don’t give a shit about how payment networks work, and they don’t give a shit about CC technology (where as we clearly do). The first payment network (i.e., coin) to realize this will likely be the first one to make it in every teenage girl’s wallet.
And this is this is how I have begun thinking about crypto - alternate payment networks. Coins are really just buckets in his network, buckets which have/carry value - subject to the law of supply and demand, therefore commanding “fiat” or “real” (to most people) money.
I don’t see why there won’t eventually be debit (or even credit) card networks powered by one CC or another. Behind the scenes are CCs at work - and a low level and technical trading floor that treats the buckets carrying value across the network as a commodity. But post people don’t see that, they still see a USD or Pound or Euro balance or whatever.
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[quote name=“MTRisner” post=“57919” timestamp=“1391867015”]
I was going to wait and make some sort of announcement, but this seems like an appropriate time/place. As some may know, I work at a screen printing shop in Jackson, MI. We’ve started accepting FTC and some other CCs on one of our t shirt websites. [b]Starting next week, we will be accepting FTC for anything that we sell at the shop[/b]. Custom orders and our other shirt websites included. I will be getting some signage going and integrating a 3rd party service to make the transactions run smoothly starting Monday.We’re just one small brick and mortar shop, but merchant adoption is going to be huge moving forward.
[/quote][img width=300]http://www.reactiongifs.com/r/clarity.gif[/img]
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[quote name=“HopeStillFlies” post=“57895” timestamp=“1391842008”]
[quote author=Pyxis link=topic=7485.msg57893#msg57893 date=1391836064]
I see these price drops as a feathercoin community sieve
[/quote][img]http://media-cache-ak0.pinimg.com/236x/57/b8/dd/57b8dd2b4535425f172031efff6820f7.jpg[/img]
[/quote]It is and its meant to be, but I have seen this same old shit since April last year, anytime things aren’t going the fairyland way.
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[quote name=“Ignition75” post=“57918” timestamp=“1391865103”]
I would love to run the FTC Market, stock it with crypto mining equipment, order in from China in bulk and drip feed it out to get people buying FTC…Being in Australia though I’m not sure people are going to want to cover the postage costs…
[/quote]Once more, a topic with a “negative” title becomes place to some excellent ideas!
The idea you state above ignition75 has come to my mind, problem being funds do to so. But, if anyone has FIAT who is willing to invest in FTC, instead of buying FTC directly in some exchange, that person could buy wanted items (maybe mining gear or electronics or something else) and place them in the FTC market. When they sell, that person will get the FTC anyways, but will also have helped the FTC market.
That being said, Ignition75, if you have the FIAT and will to put into action that idea I quoted above, then by all means don’t be stopped by postage costs! Not sure what postage prices are in Australia but probability is that you can sell those items to Europe and US at a decent price. But better still, you could make some arrangement with one of the trusted fellows of our community (someone from the staff) so that they ship from Europe (with lower costs) and then pay you…
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[quote name=“Thytos” post=“58109” timestamp=“1391967559”]
[quote author=Ignition75 link=topic=7485.msg57918#msg57918 date=1391865103]
I would love to run the FTC Market, stock it with crypto mining equipment, order in from China in bulk and drip feed it out to get people buying FTC…Being in Australia though I’m not sure people are going to want to cover the postage costs…
[/quote]Once more, a topic with a “negative” title becomes place to some excellent ideas!
The idea you state above ignition75 has come to my mind, problem being funds do to so. But, if anyone has FIAT who is willing to invest in FTC, instead of buying FTC directly in some exchange, that person could buy wanted items (maybe mining gear or electronics or something else) and place them in the FTC market. When they sell, that person will get the FTC anyways, but will also have helped the FTC market.
That being said, Ignition75, if you have the FIAT and will to put into action that idea I quoted above, then by all means don’t be stopped by postage costs! Not sure what postage prices are in Australia but probability is that you can sell those items to Europe and US at a decent price. But better still, you could make some arrangement with one of the trusted fellows of our community (someone from the staff) so that they ship from Europe (with lower costs) and then pay you…
[/quote]Thing is, you don’t even have to tie up your fiat. You can spend the fiat only when someone orders something and it ships.
By that same token, though, if more than a few people do it you can wind up with a marketplace that is too derivative and will be “cluttered with junk” only now it’s junk that someone didn’t put blood, sweat, tears and capital into.
Eff it, I’ll be borrowing a credit card and doing this tomorrow. See you all in yet another “what do you guys want” thread.
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[quote name=“HopeStillFlies” post=“58112” timestamp=“1391968430”]
[quote author=Thytos link=topic=7485.msg58109#msg58109 date=1391967559]
[quote author=Ignition75 link=topic=7485.msg57918#msg57918 date=1391865103]
I would love to run the FTC Market, stock it with crypto mining equipment, order in from China in bulk and drip feed it out to get people buying FTC…Being in Australia though I’m not sure people are going to want to cover the postage costs…
[/quote]Once more, a topic with a “negative” title becomes place to some excellent ideas!
The idea you state above ignition75 has come to my mind, problem being funds do to so. But, if anyone has FIAT who is willing to invest in FTC, instead of buying FTC directly in some exchange, that person could buy wanted items (maybe mining gear or electronics or something else) and place them in the FTC market. When they sell, that person will get the FTC anyways, but will also have helped the FTC market.
That being said, Ignition75, if you have the FIAT and will to put into action that idea I quoted above, then by all means don’t be stopped by postage costs! Not sure what postage prices are in Australia but probability is that you can sell those items to Europe and US at a decent price. But better still, you could make some arrangement with one of the trusted fellows of our community (someone from the staff) so that they ship from Europe (with lower costs) and then pay you…
[/quote]Thing is, you don’t even have to tie up your fiat. You can spend the fiat only when someone orders something and it ships.
By that same token, though, if more than a few people do it you can wind up with a marketplace that is too derivative and will be “cluttered with junk” only now it’s junk that someone didn’t put blood, sweat, tears and capital into.
Eff it, I’ll be borrowing a credit card and doing this tomorrow. See you all in yet another “what do you guys want” thread.
[/quote]great idea! +1 :D
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Price just jumped on btc-e with 300 btc wall
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Crikey! Not a good time to have some of my FTC stuck in limbo with Cryptsy >:(
*shakes fist*
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[quote]it’s liek a gawage sale up in heah[/quote]
Alright, just did my part real quick to alleviate that:
[url=https://feathercoinmarket.com/item.php?id=2563]Android Tablet[/url]
[url=https://feathercoinmarket.com/item.php?id=2562]Android TV Stick[/url]I’ve listed these [i]at cost[/i].
[quote]wtf y wud u do that not biz101 fookin stupid[/quote]
Because I have confidence in the value of a FTC increasing.
Ta-da~
I’ll list more as I go.
Found a place that does free international shipping, too, so whether you’re from US or Europe or wherever, knock yourself out.
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over 900btc on the buy for FTC .
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[quote name=“HopeStillFlies” post=“58267” timestamp=“1392067237”]
[quote]it’s liek a gawage sale up in heah[/quote]Alright, just did my part real quick to alleviate that:
[url=https://feathercoinmarket.com/item.php?id=2563]Android Tablet[/url]
[url=https://feathercoinmarket.com/item.php?id=2562]Android TV Stick[/url]I’ve listed these [i]at cost[/i].
[quote]wtf y wud u do that not biz101 fookin stupid[/quote]
Because I have confidence in the value of a FTC increasing.
Ta-da~
I’ll list more as I go.
Found a place that does free international shipping, too, so whether you’re from US or Europe or wherever, knock yourself out.
[/quote]You’ll have to wait for the whale to leave. 8)
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Correction:
941 BTC buy wall at .0004…
Other than my extreme faith in FTC
Why is this happening all of a sudden?
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[quote name=“MrWyrm” post=“58275” timestamp=“1392068123”]
[quote author=HopeStillFlies link=topic=7485.msg58267#msg58267 date=1392067237]
[quote]it’s liek a gawage sale up in heah[/quote]Alright, just did my part real quick to alleviate that:
[url=https://feathercoinmarket.com/item.php?id=2563]Android Tablet[/url]
[url=https://feathercoinmarket.com/item.php?id=2562]Android TV Stick[/url]I’ve listed these [i]at cost[/i].
[quote]wtf y wud u do that not biz101 fookin stupid[/quote]
Because I have confidence in the value of a FTC increasing.
Ta-da~
I’ll list more as I go.
Found a place that does free international shipping, too, so whether you’re from US or Europe or wherever, knock yourself out.
[/quote]You’ll have to wait for the whale to leave. 8)
[/quote]Oh, yeah, no sweat. I was working on this without knowing what was going on. They’re pinned to fiat value anyway.
er I mean
I TOLD YOU ALL IT WOULD GO UP I TAKE FULL CREDIT AND RESPONSIBILITY FOR IT
MAGIC LISTINGS!
MAAAAGIC!
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Heheh!
By the way, I have followed HopeStillFlies example and have added some interesting items to the market, please check them out! :)
And HopeStillFlies, check your inbox :)
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[quote name=“Thytos” post=“58109” timestamp=“1391967559”]
[quote author=Ignition75 link=topic=7485.msg57918#msg57918 date=1391865103]
I would love to run the FTC Market, stock it with crypto mining equipment, order in from China in bulk and drip feed it out to get people buying FTC…Being in Australia though I’m not sure people are going to want to cover the postage costs…
[/quote]Once more, a topic with a “negative” title becomes place to some excellent ideas!
The idea you state above ignition75 has come to my mind, problem being funds do to so. But, if anyone has FIAT who is willing to invest in FTC, instead of buying FTC directly in some exchange, that person could buy wanted items (maybe mining gear or electronics or something else) and place them in the FTC market. When they sell, that person will get the FTC anyways, but will also have helped the FTC market.
That being said, Ignition75, if you have the FIAT and will to put into action that idea I quoted above, then by all means don’t be stopped by postage costs! Not sure what postage prices are in Australia but probability is that you can sell those items to Europe and US at a decent price. But better still, you could make some arrangement with one of the trusted fellows of our community (someone from the staff) so that they ship from Europe (with lower costs) and then pay you…
[/quote]A great idea… OK I’ve been scouring Alibaba for days now, I’ve almost settled on a supplier for 20cm, 30cm and 50cm powered riser cables, before I push the button I’ll put a shout out to see if anyone European based is willing to be a partner. I’m happy to fund it, it’s a good investment…
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[quote name=“HopeStillFlies” post=“58267” timestamp=“1392067237”]
[quote]it’s liek a gawage sale up in heah[/quote]Alright, just did my part real quick to alleviate that:
[url=https://feathercoinmarket.com/item.php?id=2563]Android Tablet[/url]
[url=https://feathercoinmarket.com/item.php?id=2562]Android TV Stick[/url]I’ve listed these [i]at cost[/i].
[quote]wtf y wud u do that not biz101 fookin stupid[/quote]
Because I have confidence in the value of a FTC increasing.
Ta-da~
I’ll list more as I go.
Found a place that does free international shipping, too, so whether you’re from US or Europe or wherever, knock yourself out.
[/quote]Who, what, when, how??? Sounds perfect…
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I don’t dare to get in yet :( in a whale pump like this, once the orders are out. You’ll be trapped…
but this whale is bringing is something we long hoped for! A price increase…
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Difficulty has risen substantially these past 2 days, price may soon to follow. The sell wall is still there, as everyone can clearly see. Does anybody know if the popularity of feathercoin has increased, or just a random spike in hashrate?
