Topic: Accepting btc of tuitions payments for College/students? - page 2. (Read 879 times)

op We will be able to pay BTC for tuition only when the government declares Bitcoin legal in our country. In countries where Bitcoin is legal, of course if they want they can do tuition through BTC or various transactions through BTC. Indeed if we could pay BTC for tuition then we would be able to do BTC transactions in restaurants shopping malls. But it will never be possible unless the government of our country wants it. Honestly in our country the government has not legalized Bitcoin yet. So it is never possible to pay BTC for tuition in our country.  Doubts whether the government of our country will ever legalize Bitcoin?

everything is possible but first we must find a school or college or university that supports crypto so they may consider
accepting payments for enrollments or for other school obligations , but that will happen in long term process, though there are
online classes now that starts accepting bitcoin/crypto as payment yet I have not heard any school from my country that
accept tuition fees using bitcoin , hoping to find one sooner.

  It depends on the principal or owner of the school in their jurisdiction to do that as a payment option for students who will enroll in their school. It's just that, with the upcoming bitcoin halving, it seems impractical to do so.

  It is not okay when there is a congested issue in the Bitcoin network, but it is okay if the transaction fee of the blockchain network is normal in Bitcoin. It means that the bitcoin payment is also dependent on the time that is being faced, like what is happening now that the transaction fee is high.

To many people wanting this to happen but for what currently we have with bitcoin price action I don't think those people have zero knowledge about bitcoins would really love what they see if we see a huge decline from it. That's why for now its impossible for this to happen since there are so many things need to consider to happen before acceptance to anywhere will happen. Also a lot of people around the world needs global awareness of its existence including the risk and how to deal with bitcoin is really needed so like us they can adopt to it and know what to do in certain worst case will happen.

But for now dreaming to have this happen maybe not possible its because of to many negative factor that can affect for bitcoin adoption to happen. Maybe we should enjoy what we currently have since if good things happen for sure all what we think could possibly happen.

Bitcoin is growing everyday and having more awareness, and as time goes own more country will accept Bitcoin as an alternative currency. I believe in time to a country where bitcoin is legal may decide to accept Bitcoin as currency for tuition fees .

As far as  bitcoin keeps getting more awareness and as countries is making it legal, bitcoin has a very good chance of becoming an alternative form of payment for institutions, payment for good and service in companies. So I don't think it will be surprising if institutions starts accepting bitcoin as a form of payment, this will definitely take place because more countries will accept Bitcoin as a legal currency in the future.

It is hoped that Bitcoin will continue to improve in the future. It will have more stability. And people's confidence in it will increase  in further. And it is not far off when it will take the form of common currency.
Before 2000, there was a lack of business confidence on the Internet. Fraud and fraud were rampant. And whenever some people thought that there would come a time when the confidence of people doing business on the Internet would be restored.
And with the introduction of block chain technology, people have regained their confidence in doing business on the Internet. Although this seems difficult at present. But in the future Bitcoin will become a universal currency.

Educational institutions as well as businesses, if they are in a country where bitcoin is legal, can accept tuition payments in bitcoin. But wanting this to be applied across all universities in the world is impossible, it is no different from asking bitcoin to become a world currency. And the possibility of bitcoin becoming a true world currency is very unlikely, if not impossible.

I think bitcoin's price volatility is not the main barrier to it becoming a global payment method, simply because its decentralization makes it difficult for governments to regulate.

I don't know if any country has paid students, staff and teachers in educational institutions through Bitcoin. However, other transactions or payments may be made through Bitcoin but it will not be possible to accept or recognize Bitcoin payments on a large scale. Bitcoin will never be accepted as a universal payment due to the unstable market of the price. But it may accept or accept payment with banks in any country but it will never be accepted in educational institutions.

Of course it's possible and I'm aware of a few institutions that accept bitcoin payments in replacement of cash for tuition. As a means of payment, bitcoin is also accepted by many business owners. Since this is the case, why can't schools do the same? While accepting bitcoin payments is one thing, it is also important to consider whether or not people will be willing to pay with bitcoin given its potential. Just a few individuals in my opinion, would want to part with their bitcoins. Although no school in my nation has begun to take bitcoin payments for tuition, I hope that will change very soon.

Countries are starting to fully understand the principles behind bitcoin, and some are progressively starting to legalise its use. Fiat currencies have ruled the world for a very long time, and I agree that they have done so flawlessly. However, I fail to see why people believe that fiat and bitcoin cannot coexist, as long as fiat is allowed to continue being used, and people continue to use bitcoin when needed. After all, there will always be those who reject bitcoin and would rather use fiat currencies.

Although I would love it if it did, I don't think bitcoin will become the main form of money on the planet. Instead, I believe that if bitcoin is widely used as a substitute for fiat money, it will benefit many economies and create economic stability. That way, the cryptocurrency's reputation won't be damaged and Bitcoinwon't be written off as a failed project. Bitcoin can never be a failed project because it has already shown to be the greatest cryptocurrency and a reliable payment option.

It's very much possible. If the school allows it, then the students are free to do that. The stability of the asset does not really matter and it won't be the student concern. What will matter is for the student to make payment through the desire method. Beside, schools don't spend all funds all at once, most of their funds are placed in reserve and the payments, which come in form of bitcoin, can be used as reserve. 
 
Hier in my local school they are not yet expanded or developed up to that extent and many have so much fear for the currency up and down price, so implementing that won't be a easy thing fit them to just quickly decide, and beside, how many student or parent will be ready to pay fees with bitcoin, when they have fiat for that purpose. 

What is the big deal here? If you can use Bitcoin to pay for goods and services, I think it's going to be an option thing and not a compulsory stuff for students. Furthermore, with or without Bitcoin being legalized in a country, and we have a situation where the country is Bitcoin-friendly and without restrictions on Bitcoin, With private institution or University we can see a situation like this in the future play out, So the volatility would not matter for both the students and the school because the institution will have taken that into account before adopting Bitcoin method of payment.

Indeed, this does not rule out the possibility that it could be applied if the country legalizes Bitcoin as a legal currency, or in the sense of a tender contract. If it becomes legal tender, Bitcoin can be accepted for various types of legal payments, of course with various consequences that will be received. because, without clear and legal regulations, I think the school will not dare to accept Bitcoin payments. especially if the state prohibits it. This will of course be related to the applicable laws, and a school is an institution that is usually subject to the laws and regulations in force in that country, even though it is a private school.

No - it was considered a payment method on day one, but it's hard to expect it to become a global currency. This still depends on the clarity of a country's regulations - but several governments in the world have adopted it as a means of payment.

I disagree with your first point - bitcoin is not illegal in most countries although governments generally have not legalized it as currency. At least you can still convert bitcoin to fiat and pay school fees – especially if you are in a country that has not yet legalized bitcoin as a means of payment.

The government certainly can't control bitcoin - but it can control users with regulation. They take advantage of regulations without letting you use bitcoin as legal tender - in some countries the government even levies taxes on your bitcoin income.

It very possible that some crypto enthusiast institutions would start collecting their tuition fee with Bitcoin, probably due to the ease in procedure for payment and  transactions and possibly to avoid a third party like banks, though the price of Bitcoin might not be stable, however some institutions might adopt a method to convert those payments to a stable coin like USDT to avoid the possible of dump in the price of Bitcoin though that gonna be a matter of choice, once thing I am very sure of is that in no distant future Bitcoin payment and it adoption would widely be accepted not only in institutions including more businesses and organizations.

They're already in shambles already. El Salvador in particular. Saw news and a few posts here talking about how everyone in the country practically hates the new monetary system that was imposed upon them overnight. Businesses and regular joes holding protests to retort the change and all that stuff, so El Salvador's probably not the best country to use as an example here.

Although as for payment processors, local crypto wallets could do the same trick for you. The Philippines got Coins.Ph and recently, Gcash, that both offer fiat and crypto payments simultaneously, while the government of your country's haven't made their mind up yet, perhaps look into using local crypto wallets first as they oftentimes do the trick albeit with more effort on your part.

Yeah, you got the point. If you buy and sell instantly, all you lose is some portion of it that is required for the fee. Other than that, you are getting what you are paying for. If organizations or colleges implement something that converts any BTC directly to fiat currency, then it will be no issue for both parties. The amount you pay will instantly get converted into fiat equivalent to the current market price you are paying. You get the advantage of using BTC as a payment method while the organization gets what they have asked for. It's a win-win situation and I see no problem with it.

But everything comes to us in the end. As mentioned before, will we be willing to pay in BTC?

It will take a long time for bitcoin to be considered as a payment method. Bitcoin is not legal in many parts of the world and many people don't know anything about the use of bitcoin so they rely on fiat currency to pay cash. More importantly if bitcoin is not decentralized and cannot be controlled by the government of a country it is beyond our control whether it is possible to pay tuition to future students with bitcoin or other cryptocurrencies. Governments can't control bitcoins because they don't give legitimacy. Teaching about bitcoin will greatly benefit future students.

This depends on which country legalizes BTC, many countries have not agreed to legalize this asset for payment, each country has special regulatory rules to determine payment, in my country it is only limited to exchanging commodity products, payment is only currency. Maybe the educational curriculum can be accepted by many countries. Indeed, in terms of BTC prices, the price is very volatile, but what you need to know is that when you buy this asset, the nominal value of BTC will not change no matter how long you hold it. Who says fiat is stable, the value of fiat is fixed, for example $100, but look at how many goods you got 5 years ago compared to now. Inflation is what eats away at your money.

If I can remember well, there was a newly established private university in my country that agreed to accept bitcoin as a payment method. That was before the central bank of my country decided to ban all accounts that had a history of bitcoin transactions, so I don't think the school will still keep on accepting bitcoin. I can't really hear anything about the school anymore, but I am sure they will no longer accept bitcoin because they won't want their account or school to be compromised. But I am sure later in the future we will see more schools that will be accepting bitcoin. Everyone is just scared in my country to make it public that they do accept bitcoin so that their business won't end up being compromised.

If we talk about educational institutions, this means that legally it involves government policy and all payment methods must follow the rules to increase state income. In other words, schools cannot carelessly implement payment systems via Bitcoin or other cryptocurrencies, they will still comply with the rules and laws of countries where fiat is the only legal payment method. Bitcoin and other cryptocurrencies are not generally accepted because not all students use them. You need to learn this because there are things that cannot be applied arbitrarily. Educational institutions are controlled by government agencies, so it is not surprising why until now no one has implemented payments using this method. If there is, it must be done in countries whose governments have legally recognized and legalized Bitcoin as a currency option. However, so far every country still uses the same policy, namely maintaining fiat circulation in order to increase economic growth.