As a small hotel accepting bitcoins, do I show only one payment address?

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I am currently accepting bitcoins as payment at my hotel, but I am uncertain about the payment address(es).

I prefer to avoid payment service such as BitPay and Coinbase to mention a few.

At this moment, the idea is that when a client books a room online he receives an invoice in US$ amounts by email with the payment options. In order to confirm his booking, he can then decide to pay in cash, credit/debit cards or bitcoins and replies by email or in person. In case of bitcoins, I, as the merchant, will send him an email (or inform at the reception) with the conversion rate US$/BTC and ask the client to transfer x BTC to my address.

My preference is just to show my payment address or QR code on my website, but I would like to know the following:

Can I use the same payment address (how long?) or is it really important to create a new address for each client? What best practises would you recommend for a legal and transparent...
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It has been suggested that this article is merged with Merchant Howto.

This guide is intended for small business owners who wish to help promote Bitcoin by accepting it as payment for goods and services. It's written with the assumption that you operate a regular business that sells goods or services for regular national currency such as dollars, and that you wish to accept Bitcoin as another legal way to pay, and that you intend to pay taxes on your Bitcoin income just like any other income.

With Bitcoin being touted as a way to conduct anonymous transactions and as way to compete with government currency, many small business owners wonder what's the right way to accept and account Bitcoin, or if it's legal or ethical, or whether and how they should pay taxes on income received through Bitcoin.

Bitcoin has been formally recognized by some governments and authorities as a "currency", but in practice, Bitcoin is no different than accepting payment in other forms...

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Evidently, Bitcoin addresses are only meant to be used once... for a single transaction.

Yes. This should be it for many reasons. Mainly privacy and security. Let's say "it would be much better".

Yet, for the most part, I see people list a static Bitcoin address on their web site and/or social networking page.

Mainly because they don't know or they don't care but if you do, you'd better not.

But if the whole point of Bitcoin is to remove intermediaries, it doesn't make sense for the currency to be dependent on a company like Coinbase to process transactions.

Yes it does. Companies like these are meant to help the user by removing some burden like custody, tax reporting, address issuing, selling bitcoins etc.. But if you can avoid the company and take the burden you can obtain independence.

In Bitcoin you have a choice.

Is this a big flaw or am I missing something here? Seriously, please let me know.

Every bitcoin...

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Recently Gavin merged support for

BIP 70

, 71 and 72 into Bitcoin-Qt. BIP 70, aka the payment protocol, is intended to be a big change to how people use Bitcoin. A lot of questions about it come up repeatedly, so here's an attempt to answer the most common ones.

What is the payment protocol?

Old timers will remember that Bitcoin v0.1, the first version ever released, allowed you to pay people in two ways. One was by entering a Bitcoin address. The other was to enter an IP address. If you entered an IP address, your computer would connect to the node on that IP and run a rudimentary payment protocol that involved asking the node for a fresh public key, then uploading the payment transaction directly.

Satoshi thought this payment protocol would be how people mostly used Bitcoin. It had some advantages, like guaranteeing a fresh address. He originally intended addresses to be used only for when the recipient was offline. But he was wrong - addresses quickly...

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© Reuters. Nowotny addresses a news conference in Vienna

VIENNA (Reuters) - European Central Bank governing council member Ewald Nowotny warned against accepting bitcoin as an official payment method, saying the digital currency lacked stability and was too vulnerable to speculation.

Many governments around the world are considering how to regulate and classify bitcoin , whose value surged in June to hit a record just shy of $3,000.

In April, the Japanese government recognized bitcoin as legal tender as part of efforts to use financial technology to stimulating the economy.

" lacks the one thing that makes a good currency, namely stability," Nowotny told Austrian daily Kleine Zeitung in an interview published on Wednesday. "Bitcoin is an object of speculation," he said.

Like other virtual currencies, bitcoin lacks a single governing authority like a central bank. Instead, bitcoin transactions are recorded on thousands of computers across the world that...

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One of the world's largest online travel agencies, Expedia, has become the latest company to accept Bitcoin transactions as a form of payment.

The firm will initially accept the virtual currency for hotel bookings only, and is currently restricting the trial to its US site.

But one Bitcoin watcher told the BBC this was "a big move" for the currency.

Expedia's announcement comes after a turbulent few months for Bitcoin, which has been plagued by security concerns.

A number of smaller online travel sites already accept virtual currencies, including Travel Keys and CheapAir, but Expedia is the first company of its size to adopt Bitcoin.

Emily Spaven, managing editor of Bitcoin news site CoinDesk, told the BBC the move was "brilliant news" and it "brings digital currency further into the consciousness of the mainstream".

In a statement, Expedia's global vice-president, Michael Gulmann, said the company was "in a unique position" to "solve...

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Expedia—your online travel agency. As one of the world's leading online travel companies, we make it easy to plan your next business or leisure trip. Explore our site, mobile apps, and Facebook page to discover destination ideas, get information about flights, hotels, car rentals, cruises and more...

Turn your hobby into a business like I have with SpendBitcoins. Don't let the name fool you, this course trains anyone how to make money online, from affiliate marketers to bloggers to full-on merchant websites.Click here to see SpendBitcoins founder Jeremy West's full endorsement of Wealthy Af...

NewEgg now accepts bitcoin!Providing computer parts and hardware, hard drives, cameras and software as well as electronics, tools, appliances, sporting goods, jewelry, watches, gaming, and much more. With fast-shipping! Once you know, you Newegg!...

overstock.com Let Overstock.com help you discover designer brands and home goods at the lowest prices online. See...

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Buyers can pay with bitcoins for products that have bitcoins listed as a payment option in the “Shipping & Payment” tab.

Sellers can accept bitcoins by activating this payment option. It is recommended that Sellers offer multiple payment options.

How it works

Buyers with bitcoins shop for products from sellers who offer bitcoin as a payment option. Buyers make a purchase and proceed through checkout, choosing bitcoin as their payment method. Sellers will then receive the bitcoin payment into their bidorbuy account. bidorbuy automatically converts bitcoin into South African Rand and then credits the full Rand amount to the seller’s bidorbuy account. Sellers do not require a bitcoin wallet to accept this payment option and there is no charge-back risk.

How do I pay for items on bidorbuy using bitcoin?

Sellers have the ability to turn this facility on and off, so not all items will include bitcoins as a payment option. All sellers can opt to...

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A tonnnn of businesses accept Bitcoin

Bitcoin: some think it will revolutionize currency, others think it’s nothing more than a Ponzi scheme. The worth of the open source cryptocurrency has fluctuated significantly since it was first introduced – mostly losing value. Nonetheless, a surprising number of major corporations have begun accepting payments for products in Bitcoin.


A Wired.com article encouraged those “uninitiated” in the ways of Bitcoin to “catch up,” noting that “irrespective of your opinion, the rise in popularity of cryptocurrencies cannot be ignored. Today, there are a number of billion dollar businesses that accept Bitcoin as a form of payment.”

Online retailers the first wave

The trend began in 2014 when Overstock.com announced that it would accept Bitcoin payments. Several other large online retailers, like Ebay and Amazon.com, followed suit.

Other major companies to accept Bitcoin payments include Target, CVS,...

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Last updated: 19th October 2015

This year has been something of a watershed, with a number of merchants – some of them retail giants with billions of dollars in revenue – deciding to accept bitcoin in exchange for goods and services. Many of them are online e-commerce sites, but an increasing number of bricks-and-mortar stores are also now accepting cryptocurrency.

While in the past trying to find a bitcoin-accepting merchant for the item you want was often tricky or even impossible, there are now growing options for people who don't wish to pick their way through hundreds of listings just to find products vaguely approximating those they want.

The best way to find bitcoin-accepting merchants is via marketplaces and aggregator sites that gather large numbers of supporting establishments together at once. CoinMap.org also offers a visual way to locate bitcoin stores in any geographical area, and new businesses are appearing all the time. However, CoinDesk has...

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Bitcoin is entirely virtual currency that works without need for central bankExpedia is the largest travel company to accept the currency
US customers now have the option to pay with Bitcoin as well as cards

Published: 09:14 BST, 13 June 2014 | Updated: 14:30 BST, 13 June 2014

The digital revolution is coming... to a hotel near you. Well in the States anyway, where virtual currency Bitcoin is now being accepted as a form of payment for hotel bookings through travel website Expedia.

For Expedia customers in the US making a hotel booking, bitcoins are now offered as a payment method alongside Visa, MasterCard, American Express and Paypal.

Expedia's global vice-president, Michael Gulmann, said the company was in a good position 'to solve travel planning and booking for our customers and partners alike by adopting the latest payment technologies.'

Travellers making hotel bookings through Expedia in the US will now be able...

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Core Functions

Is Bisq safe and Open Source?
There are already other decentralized exchanges. How is Bisq different?
Which payment methods are supported?
Which altcoins are supported?
How can I get support for my favorite altcoin?

Trading Details

When will I be able to buy or sell real bitcoins?
How does Bisq protect my privacy?
How long does a trade take?
How much does it cost to trade on Bisq?
Why do I need to keep my application online when I have an open offer?
How can I edit my offer?
Will my bank know I’m buying bitcoins?

Dispute Resolution

What is an arbitrator?
How does the arbitration process work?
How is collusion between arbitrators and traders prevented?
What happens if the person buying bitcoin does a chargeback on their national currency after the bitcoin has been released from the multisig escrow?
Wouldn’t a pure reputation system among traders make arbitrators...

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Contents of Earn Bitcoins

Earn Bitcoins by accepting them as a means of...
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Some Questions & Answers

Bitcoin and Taxes

First, tax regulations differ for each country around the world, so how Bitcoin is taxed in one country may not be the same elsewhere. Please look into the tax laws of your own country to find the specific details. What is pretty much global, is that buying Bitcoin or any other crypto-currency is not in itself taxable. However, you are likely to be taxed when you sell or even spend those coins and make a profit. How much depends on the amount of gains, how long you owned the coins and if and how your country taxes capital gains.

Receiving or buying Bitcoin is much like buying a gift card. Generally there are no income taxes or sales taxes (a notable except is Australia that does charge GST on the Bitcoin amount) but you might have to pay sales taxes or VAT on the fees portion charged by the exchange for the service of selling you the coins. Much like you might have to pay tax on the...

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This is the address where the bitcoins you're buying will be delivered to once your payment is confirmed. Paste your address into the empty field.

You'll receive a 4-digit SMS pin and an email confirmation. Once you've confirmed these forms of contact, you should see this:

Most people will not need to upload a selfie. Just skip step 8 if CoinMama does not request this from you.

Upload a selfie with you holding your credit card towards the camera. Make sure your name, expiration date, and the first four and last four numbers on the card are visible.

CoinMama needs to verify that your credit card payment went through successfully.

If your credit card payment went through, you should receive an email that looks like this:

Long process, yes!

But that's it. Wait 20-30 minutes for the bitcoins to arrive in the address you provided in step four.

BitPanda Tutorial (Credit Card/Debit Card)

This section will show you how to buy...

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It exists different types of wallets out there. Here we will go in the detail of online wallet, because I think, that is the most flexible and easiest version of bitcoin wallets. Another advantage is the access to your online wallet from any place where you are regardless of the device.

Also online wallet has a disadvantage. The online wallet providers hosts the private key of the wallets and therefore you don’t have the full control over it.

It seem daunting especially as newbie. Therefore we take only the really trusted provider.

Blockchain has established itself 2011 in London. They grew fast and now they are the biggest provider of online wallets. Blockchain.info has a lot of security measures and the latest encryption system. All bitcoin transactions can be tracked with a search box.

Xapo – Quick and easy could be the motto of XAPO. That was my impression, as I have signed up at XAPO. Xapo combines the convenience of an everyday bitcoin wallet with...

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Writer, reporter, and film producer Jim Epstein talks with EconTalk host Russ Roberts about mining Bitcoins in Venezuela as a way to import food. Venezuela is a tragicomic example of how policy can lead to strange and presumably unexpected outcomes. Epstein also discusses how Bitcoin is being used elsewhere in Latin America and the potential for the blockchain technology to lower the costs of owning and transferring property.

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Readings and Links related to this podcast episode

Highlights



There's a bitcoin mining opportunity in the US, if you heat your house with resistive heating (as used to be common).

Every watt used for anything, fans, TVs, and in particular computers, makes the furnace run one watt less. Everything except light that escapes out the window turns into heat at a watt for watt basis.

So the furnace is only special in that it does nothing...

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