During its early adoption phase, Bitcoin was frequently associated with black market uses , most notoriously the Silk Road . Today, CoinMap.org lists over 7,000 businesses employing BitcoinCT r: 7 worldwide.
CoinTelegraph talked to several business owners, both legal and extralegal, about their use of Bitcoin. White Market
Dr. Darren Tapp, Ph.D., a mathematics professor who teaches mainly homeschooled children, started using bitcoin as a toy. “As I learned more about it, I started to realize that bitcoin or something like it will change the future.” He believes accepting Bitcoin helps him retain certain clients who pay with it exclusively. Responding to local market demand
Matthew Ping, a property manager who manages several rental units in the Manchester, New Hampshire area, adopted Bitcoin to facilitate the rent payment process. “There was a market demand for it in Manchester and I’m intrigued by the technology. As a property manager I received the request to accept bitcoin because some of my residents get paid in bitcoin. I want to make it easier and less expensive for my residents to pay rent on time.” Ability to instantly accept payments
And largely, this has helped Ping’s business, since he can receive on-time payments when residents are traveling anywhere in the world, without accruing an additional transaction cost or waiting for a check to arrive. However, he doesn’t see using Bitcoin as being without complications. “It is sometimes difficult because the mortgage lenders and vendors don’t accept bitcoin yet. The rent payments have to be converted by using a service like Bitpay or Coinbase which make the facilitation much easier but still somewhat of a hassle.” Compliance with all local regulations
Ping seeks to operate in complete compliance with all local governmental regulations for the security of his business. “I operate my business […]
