John Martinez on Nostr: Interested in how you help businesses. I run a small reseller business aside from my ...
Interested in how you help businesses. I run a small reseller business aside from my writing. I've gotten to the point where bitcoin is my primary reserve asset. All retained earnings get converted to bitcoin.
Issues I'm running into:
1. My inventory supplier only accepts cash. Rather than sell my reserve bitcoin only to get it back after I make profits I take a loan against the bitcoin to get kore inventory. Then pay back as Cost of goods sold accumulates. This means I'm always tied to cash somehow. Not sure what can be done there besides finding a bitcoin supplier. Time will fix that hurddle
2. NO ONE spends their bitcoin. The people who want it don't want to sell it and the people who don't give a damn don't want to deal with the hassle of buying it to sell it right away, even with a discount.
Ultimately I'm running a btc standard business only in that I have a btc reserve. What have you seen or advise other businesses do?
Issues I'm running into:
1. My inventory supplier only accepts cash. Rather than sell my reserve bitcoin only to get it back after I make profits I take a loan against the bitcoin to get kore inventory. Then pay back as Cost of goods sold accumulates. This means I'm always tied to cash somehow. Not sure what can be done there besides finding a bitcoin supplier. Time will fix that hurddle
2. NO ONE spends their bitcoin. The people who want it don't want to sell it and the people who don't give a damn don't want to deal with the hassle of buying it to sell it right away, even with a discount.
Ultimately I'm running a btc standard business only in that I have a btc reserve. What have you seen or advise other businesses do?