Calling all Bitcoiners who are business owners \ stacker news ~Import

Calling all Bitcoiners who are business owners

345 sats \ 12 comments \ @globalmerchant 17 Jun Import_Export

I'm encouraging any and all business owners, importers, exporters, wholesalers, retailers on SN that actually use Bitcoin for buying and selling goods. Yours Truly here in Honolulu is a good connection for you, we have a lot of business people from around the World coming through here (Honolulu).

Get your message out there if you're buying and selling any type of building materials, lumber (timber), general merchandise, food stuffs, bottled water, non-prescription medicines, aluminum products of any type, post on B2B territory.

I know everyone automatically says "Stack SATS" but it is important that Bitcoin gets actually used on a daily basis paying for goods and services, or am I totally wrong ?

Ask for Rich www.globalmerchant.io

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0 sats \ 0 replies \ @ways_wilderness 24 Jun

You're spot on!

If I were a bit younger I'd try to get out of online, virtual services to start something on the ground using Bitcoin only :-)

Maybe even something improbable as trading between South East Asia and East Africa, get the right contacts and that would be a healthy business for the years to come!

0 sats \ 8 replies \ @Coinsreporter 17 Jun

Just had a look at your website. Interesting to note that you want some traders in Asia Pacific. What about India? Do you intend to add some from here?

24 sats \ 7 replies \ @globalmerchant OP 17 Jun

I Import large quantities of Polyester Beach Sarongs and some 100% Cotton shirts from New Delhi. I'm trying to orange people my supplier but each year the Government flip flops on what is legal and not legal.

When I send a T/T (Wire Transfer it cost me $ 45.00 to send USD I also use Remitly only costs $ 3.99. I hope in the future It will be Bitcoin I'm sending. They don't want fiat I don't want fiat but that's the reality.

0 sats \ 6 replies \ @Coinsreporter 17 Jun

I'm afraid your suppliers aren't telling you the whole story. There are primarily no rules for Bitcoin in India. So, it's not legal, it's also legal.

They have made some taxation rules for Bitcoin and shitcoins ('virtual assets' as they say). And that taxation rule simply says that anyone making profits by selling Bitcoin at any point of time is subject to be taxed a flat 30% on the profits gained. That's all. There's no mechanism or rule for exchanging Bitcoin to Fiat. So, if you transfer Bitcoin to a supplier and they exchange it immediately in Fiat (shit), there's nothing wrong in that, no tax at all.

TBH, Indian businessmen are very cunning, they don't bother considering anything new if their old system is doing well for them.

I can assume that your supplier should be some very educated person and he must be a third party, not direct manufacturer. That's why he made lame excuses regarding flip-flop from government.

I'm not in the business of cloth but I'm from a place where there are many cotton manufacturers. If you kindly share your requirements in detail with me, I can have a look around and send you some samples first.

24 sats \ 4 replies \ @globalmerchant OP 17 Jun

My main supplier is an established family owned manufacturer in New Delhi approximately 60+ employees. We have been through a lot together during the last five years pandemic bull shit lock down issues putting many retailers out of business.

They manufacturer 100% Cotton button up shirts and Beach Sarongs. Currently they do not view using Bitcoin not as a priority.

However in their defense I would not think making a statement "That's why he made lame excuses regarding flip-flop from government". Lame excuses is not their personality.

Hopefully in the near future they will engage accepting Bitcoin.

Thank you for your reply.

0 sats \ 3 replies \ @Coinsreporter 17 Jun

Okay, I understand you have a good relationship with your suppliers but I'm absolutely right about flip-flop by government. Indian government has never ever made a single remark about the legality of Bitcoin. So, why did they they tell you this?

13 sats \ 2 replies \ @globalmerchant OP 17 Jun

Wow, really the government never once ever published or discussed their position on the legality of Bitcoin. Then this means your 100% correct they must be misinformed.

Thank you very much for bringing this to my attention, wow, shocking they never ever made a single remark.

0 sats \ 1 reply \ @Coinsreporter 17 Jun

Find it out if they had ever. All internet is your garden, mate!

The Reserve Bank of India once attempted to stop Bitcoin-fiat exchange for a few months and by the Supreme Court's order they had to resume these services.

Government had been warning people about Bitcoin prior to this order but after this, they had shifted their stance to taxing crypto heavily. That's all.

0 sats \ 0 replies \ @globalmerchant OP 17 Jun

Thank you, I appreciate your help.

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0 sats \ 0 replies \ @ways_wilderness 24 Jun

Just enter the trades in the books as on the spot cash transactions, problem solved :-)

0 sats \ 1 reply \ @SatsMate 17 Jun

Thanks for sharing! I'll keep this in mind. I have some business people I know in Vietnam who are Retailers who also know Bitcoin. Will give them a heads-up on this.

21 sats \ 0 replies \ @ways_wilderness 24 Jun

The Vietnamese has a looong tradition evading insane BS, they know how to handle virtually anything :-)