Beefing up profits: Aussie farmer makes 20% bitcoin sales
Saturday 05 October 2013
An interesting look at a small, rural business, which is managing to make up to 20% of its sales in bitcoin. How is it achieving this when some of the bigger names are struggling to make even 5%? This Coin Desk article by BitScan's Louise, takes a look:
When it comes to businesses accepting bitcoin, there is nothing hi-tech about a farmer and his wife selling beef in rural Australia. However, David and Peta Moloney are doing for the beef industry what bitcoin is doing to the financial one: disrupting it.
High-profile companies such as WordPress and Foodler already take bitcoin, but the percentage of income generated in bitcoin is still very low. OKCupid, another big name to take bitcoin told us less than 5% of their revenue comes from the currency.
So how has a beef-seller in northern New South Wales achieved up to 20% of his business in bitcoin?
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