Question from a merchant:
I spent a little over a decade refusing to work with credit cards, after having lost a battle with Visa in the late 90s over a fraudulent transaction for which they left me on the hook. My tourist business in Alaska hardly suffered, but eventually - after we were able to obtain significantly lower transaction fees - we re-entered the Dark Side and now get somewhere over 80% of our revenue from guests paying with credit cards
But I still don't like it...
So, on to Bitcoins. Perhaps the Bitcoin universe could whittle down our embrace of credit cards? That suggests a few questions:
1. How might I as a vendor set up acceptance of them?
2. How might I as a responsible organization properly account for such transactions come Income Tax time (
subquestion: how do I find a toupee for my thus-hairless accountant??? )
3. Am I correct in assuming I would have the alternative of (a) selling my stash of Bitcoins (to whom?) in return for US dollars, etc.,
OR (b) finding items to purchase with Bitcoins (like what?)