10 sats \ 2 replies \ @DarthCoin OP 10 Sep 2023 \ parent \ on: Calling for merchants: please share your BTC onboarding story on SN bitcoin
Thanks for sharing your experience! Amazing, so you are quite OG, nice.
I see you mention multisig, that means funds are managed by multiple users from the company, right? Very interesting use case.
THiS is gentlemen!
So you are not counting bitcoins as cash? Or is more about the exchange rates for the international currency accounting?
Usually a business accounting, for tax related, will keep everything in one currency (the one in which is paying taxes), no mention at all about btc. BTC is cash, in this case is just a form of payment, like paypal for example. All the invoices are made in the taxing currency not in btc. Taxma n not even have to know that was paid in btc.
Indeed I was expecting more merchants to come. We need to hear these amazing experiences and take them as examples.
Thank you sir for your great contribution!
when I said
just need to switch the chip in your mind and make it happen
I meant that sometimes you just need to give up on what you (most of the time are just social contracts, you decide to agree to) have and be ready to receive... make space for the new somehow?! Otherwise the new doesn't arrive.
So you are not counting bitcoins as cash? Or is more about the exchange rates for the international currency accounting?
Hehe, we go into details here. We do have two accounting systems though: one internal, the oracle, and the other is maintained by our law & accounting partner. So not sure if we count bitcoin as cash, because isn't, it's bitcoin and that's it. So let's just say that for us Bitcoin is also the oracle that define the exchange rates for any other currency.
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Fair enough, I don't want you to doxx more here.
I am just curious about how people "see" bitcoin in their accounting.
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