I think Burst is one of the best projects but its unknown by normal business people now.
I don't know if Burst can win a big fish (f.e. like amazon) to use burstcoin as payment but I think it can be done more attractive for smaller business people who are a bit tech addicted.
I am using cryptos for some time now and one of the most annoying things is to to do math for the tax. For each transaction you have to do a lot of math. First you have to get price of Burstcoin for the income date then if you sell or buy something with your burstcoin you have to get the price of Burstcoin of the outgoing Burstcoin at that date. Then you have to do the math for the win.
For example, for a little cigarette shop or whatever:
"Someone buys 1 package of cigarettes in your shop for 1000 BURST:
Then you have to do the math as the shop owner
Income 1000 BURT 01.06.2018 = 10 USD (f.e.)
Outcome 1000 BURST 15.06.2018 = 15 USD (f.e.)
You got an income of 10 USD for the 1 package of cigarettes. Then you sell the 1000 BURST on Poloniex or you are paying something direct with burst on 15.06. On that day 1000 burst is 15 USD. Therefore you won 5 USD (15-10) because the value of burst goes high.
On a business you've then to make following writings to your book:
- 10 Doller for the 1000 BURST income on 01.06.2018
- 5 Doller for the winning of 5 Doller of higher price for burstcoin on 15.06.2018
- If you buy something (on 15.06) for your company you could write the 15 USD to running costs of your business.
- And if you want to you write the transactions fees for the transaction (on 15.06) to your running costs of your business too.
This is one Transaction and now think of what you have to do 1000 transactions as a professional.
For those there is a solution on cointracking.info. That makes exactly the math you need. And this is done for nearly all cryptos. You can use FIFO method or others and you can see the profit and income.
For cryptoaddicted people cointracking is realy best and easy to use esspecially for cryptotrades its realy brilliant.
But for the normal people out there with their job and their family and lack of time it's not. I think they will never want to such complicated thing.
For a normal non tech and non crypto addicted guy it has to be very simple. In best case an All in One solution Sofware / Wallet in that way:
- Downloading software / Wallet
- Activating BURST Account
- Getting payments on BURST Account
(this can be actually done bute my idea is the step 4.)
- Software / Wallet can automatically tell the Income, the outcome and the winnings of value rising of BURST (FIFO = First in First out).
It should more simple as using cointracking.info cause its only for burst.
The Wallet / Software should display the Income in USD at the specific incoming date. The value of BURST at the specific outgoing date. And should do the math for trade winnings with FIFO method.
If i would have a small cigarette shop. And selling 1000 Packages in one year actually i would have 4000 writings in my book. And if you did 1 error on those 4000 writings the whole math is wrong when you did the error on the first one. And it's nearly impossible to find the error on that 4000. In that case for me as a small non tech and non crypto addicted shop owner it would be to complicate to do the math and i would not going to accept burst as payment option.
So in the explorer the value of Burst is shown is USD or EUR but its always the actual one of that day you are looking at.
For mass adoption it has to be simple as hell and in best case without any costs to accept burstcoin as payment.
And in best case does the Wallet or a specific software do the math for the shop owner automatic and free.
Especially for small shops it would be a good benefit. No other Crypto has actually the math build in a software.
This feature would be for small shop owner more attractiv than anything else. They don't care about electricity or anything else what we are thinking in our crypto bubble.
A small shop owner want easy get the money and easy do the math (Thats only my Opinion) and then they are thinking of all the cool features of Burstcoin and PoC.
I am no developer. Would it be possible to do a software with exactly that math for burstcoin as a decentral solution and feature of burstcoin ?
If not perhaps it would be possible to do some crossover with cointracking.info. They already have all prices for burst in their databases, it should be possible to read the transactions over the blockchain for a specfic burst adress and then automatically do the math.
And if this software would cost some money or is using a small fee it would be ok. Personally i think this feature can be a key changer.
Of course you can say then the shop owner should use contracking.info. But it has to be simple as hell and automatic and cointracking is not that simple and there is a lot of work for the shop owner.
So let me know your opinion:
- Good idea ? I think so
- Can it be done from a developer view as a build in feature of burstcoin ? Dedicated Software ?
Personally i cannot write code or something like that but I know my personal disadvantage of real world using cryptocoins. It's the f... math (for me). Everytime i am using cryptocoins i have to do all the creepy math. When buying or selling in FIAT I have nothing to do. I know the FIAT income and know the outcome and here we are. On cryptocoins i have to search for price at income and outcome..... . So i think for all other people its the same creepy thing so why should they use cryptocoins.
It would be nice to know how DASH is solving that math problem cause they want to be a coin for everyday use. I think nobody wants to make that complicated math every day.