How can we actually expect micro businesses to know about cryptocurrencies? Even without any survey or research we can assume that mostly 60% of the local entrepreneurs might not be aware that even cryptocurrencies exist. They might perhaps have went through some post or stories roughly and it would have given the remaining ones some idea about what the cryptocurrencies actually are.
Micro businessman actually focus on the local product sales and promotions. They would not have time to look for any other earning platforms introduced by the cryptocurrencies. Also as long as I can think, most of the entrepreneurs would not accept accepting cryptocurrencies as a payment method in their store.
Topic: 67,1% of micro businesses do not know what cryptocurrencies are. - page 2. (Read 996 times)
January 15, 2020, 06:46:15 AM
January 15, 2020, 03:03:11 AM
In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .
https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
Actually, people who do business will often know about big issues like this but they mean they don't want to get caught up in this fraud game. Most businesses in Asian countries too, they know it but do not dare to touch it because they know the risk is very high.https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
we will hardly be able to convince many businesses to accept payments with crypto because it is not a stable currency, the prices of coins often fluctuate so exchange will be very inconvenient. That is the problem that coins are unable to do.
January 15, 2020, 02:23:14 AM
We need to first think about the reason why merchants and customers are not interested to use crypto as a real-life payment method ((those who are already aware of crypto just like us). I feel they are afraid of further confusion as well as losing out on their value if the market fluctuates as they cannot be dependent on a fluctuating currency to pay and receive their fixed payments. They might about stable coins but not other cryptos.
January 15, 2020, 02:03:58 AM
It's not necessary for small businesses to learn crypto. Different countries also have different views on cryptocurrency that's why this data could be a lot different from other countries. Small businesses were used to traditional system with fiat. If they don't really have the initiative to learn cryptocurrency, then don't expect that they will understand it. And in fact, small businesses only have small transactions from their customer and fiat is easier to use with small amount transactions than crypto.
January 15, 2020, 12:38:32 AM
of course because the number of people who understand and use cryptocurrency is very small compared to people who don't know about cryptocurrency. therefore if we want mass adoption to materialize soon we must always promote bitcoin and cryptocurrency to our relatives and friends. so that more and more people who understand and want to invest in cryptocurrency. but I am optimistic that more and more people are supporting and implementing the blockchain. it will increase the number of people who know cryptocurrency.
With this, different traditional marketing strategy vould be applied to increase adoption of cryoptocyrrency, I myswlf consider wearing shirts that has a bitcoin logo in it, to have mugs, glasses, items and merch that has bitcoin's image will definitely make bitcoin adoption better. Think of some famous brands we have right now, that happened because people can always see their projects everywhere because of paid advertisements. What more we can do if we advertise crypto for free.
January 14, 2020, 08:43:15 PM
of course because the number of people who understand and use cryptocurrency is very small compared to people who don't know about cryptocurrency. therefore if we want mass adoption to materialize soon we must always promote bitcoin and cryptocurrency to our relatives and friends. so that more and more people who understand and want to invest in cryptocurrency. but I am optimistic that more and more people are supporting and implementing the blockchain. it will increase the number of people who know cryptocurrency.
January 14, 2020, 08:18:29 PM
Most micro businesses do not know cryptocurrency because of lack of access to knowledge about cryptocurrency. Indeed, it should
in order to create mass adoption in microbusinesses it is necessary to increase education about cryptocurrency. And what happens
if microbusinesses accepted bitcoin as payment methods is that technological advances will be increasingly rapid, especially digital
currency will become favorite payment. And eventually it will become cashless in the future.
in order to create mass adoption in microbusinesses it is necessary to increase education about cryptocurrency. And what happens
if microbusinesses accepted bitcoin as payment methods is that technological advances will be increasingly rapid, especially digital
currency will become favorite payment. And eventually it will become cashless in the future.
January 14, 2020, 06:52:30 PM
I really doubt this data. I've been through so many commercial website whether it is in my local or international and I figured out that most of the time it's website that sells digital product that usually accept bitcoin and not the usual commercial website like selling stuff for basic needs. Even worse I've rarely seen any website that is from Mexico and even right now bitcoin is not mainstream enough. So many people out there still has no idea about what it is.
January 14, 2020, 06:13:47 PM
In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .
https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
The results are likely skewed.
If you asked the same survey question in a country like the US it is very likely that the results will be staggeringly different as the awareness of cryptos in general is much higher.
Plus, the statistics are positioned in a way to suggest this type of result.
So to answer your question, it is entirely possible and in fact, probable that the gap between countries in terms of adoption is still extremely large given the fact that there is a huge income and education gap between them.
January 14, 2020, 05:27:27 PM
I could try to pay with my wallet, and most of them would not even know what this is.
~~~
Stop trolling on showing up that wallet seed.Ive seen you on other thread as well asking out on how to secure a seed but you basically showing your wallet phrases.~~~
Be at least be on topic when you do join up discussions yet its normal for those merchants not to know on whats the image is all about if they don't have
even the basic info on whats crypto.So its a normal reaction- if you have really tried to ask or just an imaginary thing just to troll.
Adoption is still on the move and it isn't surprising for those numbers though.
January 14, 2020, 05:11:28 PM
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
I guess you wanted to ask why the population does not know cryptocurrencies because most businesses are unaware according to the data.
They don't know because they don't care about improvements in this sector. When you're running a business you care about your revenue, your suppliers, your loan, but not about new types of payments. Most people know that you get paid with fiat money and that's it. They don't have time to do research.
If it was 67% of enterprises in Mexico probably nothing serious would happen. If it was 67% of businesses in the USA... Let's say that paying 100k for BTC would be getting it cheap.
Of course, there are many entrepreneurs who really do not have time to investigate or make a change of these for now. Well, this is not something simple, it takes dedication and study to understand it. Although there are companies that accept BTC as payment, they are very few. Perhaps because of the volatility that exists now it is not the best business, but I think many will want to implement this method in the future.
January 14, 2020, 04:46:39 PM
~
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
The important point here is that cryptocurrency is a new innovation, only a decade old. So that this ecosystem is not yet widely known, although it is widespread on the internet, but its scope is still not comprehensive. In addition, cryptocurrency is full of controversy, so ordinary people would prefer to avoid it. Another reason why only a few use cryptocurrency as a means of payment is that cryptocurrency is more effectively used as an investment and commodity trading tool, I think so. Instead of using cryptocurrency as a payment tool, I prefer to use it for investment or trade it directly on the exchange. What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
January 14, 2020, 03:40:53 PM
I could try to pay with my wallet, and most of them would not even know what this is.
January 14, 2020, 02:39:10 PM
I am surprised and this is a large amount. about 30% of micro-businesses are willing to accept crypto. I think they need to broaden the search though and ask people from different places about it and more people too.
Otherwise, it might be skewed results. I like that there is so much support I just feel 30% is far too high. If it is 30% then why is that 30% not accepting crypto payments and if they are how many of them are.
Otherwise, it might be skewed results. I like that there is so much support I just feel 30% is far too high. If it is 30% then why is that 30% not accepting crypto payments and if they are how many of them are.
January 14, 2020, 12:25:46 PM
well even if 1/10 of the micro businesses knew about bitcoin , this would have been a great success
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it
I highly support it if this will be the case for bitcoin, but if we are concern about all cryptocurrencies, I highly doubt cryptocurrency as a whole doesn't have the capability to provide fast transaction and low fees. cryptocurrencies are built in a different way, and built suited for different purposes. When it comes to bitcoin, its highly purpose is to be an investment platform and a store of value, but for business to implement cryptocurrency, there is the ethereum blokchain - and basically they have the option to create their own token that could be the payment option mainly by their own company.
January 14, 2020, 10:09:32 AM
well even if 1/10 of the micro businesses knew about bitcoin , this would have been a great success
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it
January 14, 2020, 08:09:23 AM
I think the trouble is until any coin has long-term stabilization, we won’t ever see use cases for crypto. Once this happens and people can actually convert fiat to crypto with confidence and pay a merchant with crypto as easy as they can tie their shoes, you will see more purchases. Also remember the average business fee per transaction is 2-6% for the merchant. This is a trickle down effect that effects everyone in the long run. Cryptocurrency will eliminate this and make it more efficient for the consumer.
And these fees depend from the type of the business accepting the payment (online/offline/products offered). Not to mention one important element, which in general can speed up the business relations - even within one country a wire transfer payment for your business partner can be booked on account on the next day (if you have accounts in two different banks) and order to be processed after 2 days.
In comparison, with cryptos it can be almost instant, so then the product can be shipped easily within the same day.
January 14, 2020, 08:04:46 AM
In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .
https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
What people usually fear are those currencies that they didn't know how to use or they know that certain currencies but they are not yet ready on how they are going to adapt the vulnerability of it's prices. https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/
What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?
That is why, 50.4% of those who knows about crypto said that they are not willing to accept crypto currencies. Here in our country, the acceptance is there but it is limited to very few only and I guess it will continue to grow once the other big countries will start to use crypto currencies as their payment options like in supermarket and etc.
January 14, 2020, 08:02:26 AM
Not only in Mexico but also every country's small scale industries are not aware of Cryptocurrency, so there is a huge lack of communication, I think Crypto expert should take it seriously because that portion would be a good option for more flourishing of cryptocurrency, Only millionaire and Billionaire could not only play the major role in this sector so small scall business should be included in this system for the future purpose, I think if we want to see cryptocurrency as a payment system then mass level popularity is certainly helpful. if 67.1% of microenterprises would accept cryptocurrency then it would add a vast positive vibe to this crypto world.
percentages above 50% are no longer a positive vibe, but they will exceed the average adoption rate, it also has not been calculated by businesses on a larger scale. what needs to be done is an educative movement that is quite often carried out by foundations that really intend to build the basics needed, including covering some important things in helping shape startups, fear is not the main factor for them, the most important is action and reaction. 
January 14, 2020, 07:42:36 AM
I think the trouble is until any coin has long-term stabilization, we won’t ever see use cases for crypto. Once this happens and people can actually convert fiat to crypto with confidence and pay a merchant with crypto as easy as they can tie their shoes, you will see more purchases. Also remember the average business fee per transaction is 2-6% for the merchant. This is a trickle down effect that effects everyone in the long run. Cryptocurrency will eliminate this and make it more efficient for the consumer.
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