Bitcoin Q&A: Accepting Bitcoin in my Enterprise

What are the most secure practices for accepting bitcoin at my enterprise? Why is it necessary to keep up custody and use open-source options? Is it potential to simply accept donations through Lightning? What are invoiceless funds? How may an auditor discover information of Lightning community funds, comparable to for tax functions? Capital features reporting is tough.

Purchase superior customized t-shirts with bitcoin!

These questions are from the September month-to-month patron session, the fifth session of MOOC 12, and the October month-to-month patron session, which befell on October eleventh, and October twenty sixth 2019, respectively. If you’d like early-access to talks and an opportunity to take part within the month-to-month dwell Q&As with Andreas, turn out to be a patron:

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has turn out to be probably the most well-known and revered figures in Bitcoin. He’s the writer of “Mastering Bitcoin,” “The Web of Cash” sequence, and “Mastering Ethereum.”

Observe on Twitter: @aantonop
Web site:

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MASTERING BITCOIN, 2nd Version:

Translations of MASTERING BITCOIN:

THE INTERNET OF MONEY, v1:
THE INTERNET OF MONEY, v2:

Translations of THE INTERNET OF MONEY:
Spanish, ‘Web del Dinero’ (v1) –
German, ‘Das Web des Geldes’ (v1) –
German, ‘Das Web des Geldes’ (v2) –
French, ‘L’web de l’argent’ (v1) –
Russian, ‘Интернет денег’ (v1) –
Vietnamese, ‘Web Của Tiền Tệ’ (v1) –

MASTERING ETHEREUM:

Music: “Unbounded” by Orfan ()
Outro Graphics: Phneep ()
Outro Artwork: Rock Barcellos ()
Be part of the aantonop Channel:

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34 COMMENTS

  1. Best channel and best content to educate and create awareness of blockchain technology. I’m always telling people and my viewers about this channel.

  2. Anytime I think I’m well versed in Bitcoin, I just tune into Andreas to have my bubble burst

  3. In practice wouldn’t it be safer to reuse an address for a frequent customer making large transactions so there is never any possibility of confusion as to what address to use? Ie: client sends payment using their uncompromised system and you confirm receipt of it. A few weeks later their system is compromised with malware that replaces BTC addresses in their web browser with a hacker’s BTC address, your invoice’s BTC address is now the hacker’s BTC address.

    Wallet makers should implement some sort of GUI security mechanism for checking that 2 addresses go to the same wallet without having to give your entire extended public key to a customer. I guess you could use signatures in some way? Send the address and a signature with a reoccurring secret message that only the client knows?

  4. My business accepts BTC since 2014 (yep, I am glad today that I tried it “just for fun” at that time 😉 Starting “all manually” in the beginning for just one customer. Today we always have like 10000 vanity addresses created in advance. So an ordinary malware at the customers PC cannot easily replace those addresses.

  5. Dear Andreas, LN just sounds so complicated and not user friendly. I would prefer a onchain solution

  6. Are there BTC burner wallets?
    Or..
    Could BTC be nested as meta-data in a crypto transaction?

    Stashed in a wrapped-crypto-kitty maybe.

    I can see some sort of “suspended in transit”
    way of safekeeping,

    Also a similar way to go to paper transfer.
    (via nft)

  7. TBC is spendable today, and it holds value! Speed of Growth is increasing within every measurement, including how many REAL MERCHANTS are joining everyday now. Expect the Speed of Growth to continue to increase dramatically! Soon TBC Merchants will be handy and close to all of us all around the world. TBC is REAL! Be proud of YOUR Super Power to turn people into TBC Millionaires.

  8. someone also asked the same question:
    Owain Edwards
    1 hour ago
    Why should we not use the same address to receive BTC?

  9. What type of camera 🎥 this dude have? I don’t think bitcoin helping him🤦‍♂️🤦‍♂️🤦‍♂️😂

  10. Andreas how do I get my private keys from my trezor are so that I can write them down and keep them with my public keys

  11. I usually don’t care about “not reusing addresses” especially to receive bitcoin because it is not unsafe to do so. It only exposes all of your transactions and the account could be linked to you more easily. Am I right that it is only a privacy issue? Once I heard that there had been a bug in the bitcoin protocol and that it was unsafe to reuse addresses to send bitcoin (but not to receive). I have a few addresses that I use and are linked to my hardware wallet. All these addresses that I have used so far have been only used to receive. I have used bitcoin to make payments but directly from hot wallets for small amounts so far

  12. Thanks for this, a concise and very useful rundown for anyone trying to use bitcoin for eCommerce. Much appreciated

  13. bitcoin fees are lower than any credit card’s
    the merchant will pay considerably more for his client using credit cards than for bitcoin
    bitcoin is also faster than credit cards

  14. What would be the best state in the US to accept BTC? What would be the best way to generate new trusted addresses for a wallet? January 3rd proof of keys. Take you money off the exchanges and into a controlled wallet or cold storage like Ellipal or Trezor. Nacho cheese Nacho Bitcoin

  15. Thank you! This is what the world needs to hear right now! I am trying to educate myself to teach businesses how to accept it in person at their store. I would love to see more tutorials that can be practical solutions for small businesses transacting in person.

  16. I recently used a two-way Bitcoin ATM and I noticed that the QR code that they generated for me to scan also included a unique serial number and or transaction/order ID number that showed up automatically in my mycelium wallet under the transaction details for that payment. How did they do this and did they write the order number to the blockchain along with the Bitcoin address or was it embedded in the QR code that I scanned… please forgive the Newbie question I’m still learning this stuff

Comments are closed.