When I open a business and see that adding Bitcoin as a payment option is possible, I have no problem adopting Bitcoin but it is not supposed to be the only means of payment in a big business and in a country like mine where Bitcoin is not legalised yet.
In addition, I have to look at the feasibility and viability of adding Bitcoin payment before doing that. I will not add Bitcoin payment on a business who cost of buying an item or paying for serviced is cheaper than the transaction fees for such Bitcoin payment. This is not a way of doing business and does not make any economic sense. Like I said before, I will add Bitcoin payment and adopt Bitcoin if I see that it present some types of advantages over other payment options.
Topic: Are you ready to adopt the BTC program for your company? (Read 444 times)
Boss, despite how nice bitcoin and crypto payment is, I think their are still some discouraging factors surrounding crypto payment which is ordinance and it results to high fee, this high fee has been a major problem for many crypto users, I have always supported everything about more bitcoin awareness, I think we have to tell people what they should expect once they are involved bitcoin, just imagine someone making payment with cryptocurrency in an institution that accept crypto unknowingly to such person that he would be charged high at the end of the day after the payment and he noticed that the fee is high will such person go on with such system of payment, no matter how some wallet allow people to choose the fee themselves, what if in the case where you are buying something and you make payment may be the person you are purchasing from didn't see the money, how will they allow you to go with the items that you purchased.
Currently, many blockchains are serving users with high speed and low cost, such as Solana or Ton. Even Ethereum Layer-2 solutions have also had extremely low transaction fees, around a few cents, after the DenCun upgrade.BTC can be used for micropayments, similar to how it is applied in El Salvador: Lightning Network can provide speeds of millions of tps to serve daily transactions.
I think the problem of transaction fees has been solved by Layer-2 solutions, the remaining problem lies in the legality and innovation of businesses.
I would like to know your opinion on the wave of BTC adoption by companies:
- Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
I won't say just Bitcoin, but overall crypto payment system is good for any business. It allows them to tap a new set of audiences. So I think slowly big corporates will come forward and will allow crypto payment in their platform. But it doesn't really matter everytime what a big corporate thinks. A lot depends on the local legislation as well. There are many countries where crypto is not seen as a legal tender. So it may become challenging for the companies to accept crypto payments in those countries.
But I see there's a great amount of positivity around cryptocurrency right now. Usually it happens during any bull run. I just hope this bull run continues and the positivity stays as it is.
Boss, despite how nice bitcoin and crypto payment is, I think their are still some discouraging factors surrounding crypto payment which is ordinance and it results to high fee, this high fee has been a major problem for many crypto users, I have always supported everything about more bitcoin awareness, I think we have to tell people what they should expect once they are involved bitcoin, just imagine someone making payment with cryptocurrency in an institution that accept crypto unknowingly to such person that he would be charged high at the end of the day after the payment and he noticed that the fee is high will such person go on with such system of payment, no matter how some wallet allow people to choose the fee themselves, what if in the case where you are buying something and you make payment may be the person you are purchasing from didn't see the money, how will they allow you to go with the items that you purchased.
I'll never forget how I got a chance to sit down with the CEO of Xerox Ursula Burns to discuss an idea I had to cut costs and build a new line of business. Bitcoin was at $2 and I was urging her to buy half a million BTC and empower me to launch a program to move our international transfers to the blockchain. It would have paid for itself in the first month and would likely have set Xerox on a path to be one of the world's most valuable companies and leader in blockchain technology. Why didn't she follow through with my plan and give me the opportunity? She was dismissive because her next meeting was with Barack Obama to receive an award for being a black female CEO. True story.
I don't blame her, honestly, considering how non-spread and unknown Bitcoin was when it was priced $2, no company would have been ready to do that unless the owner or the CEO has some personal interest in it and had been following up on its progress and updates even back then.
Maybe if I was in place of her, I would do the same because if you are suggesting something that I have no idea at all about, I would barely agree to continue with it.
However, if we talk about the current times, I don't think a company would refuse an offer like that because the performance of Bitcoin and its significance is not an hidden fact anymore.
I'll never forget how I got a chance to sit down with the CEO of Xerox Ursula Burns to discuss an idea I had to cut costs and build a new line of business. Bitcoin was at $2 and I was urging her to buy half a million BTC and empower me to launch a program to move our international transfers to the blockchain. It would have paid for itself in the first month and would likely have set Xerox on a path to be one of the world's most valuable companies and leader in blockchain technology. Why didn't she follow through with my plan and give me the opportunity? She was dismissive because her next meeting was with Barack Obama to receive an award for being a black female CEO. True story.
I would like to know your opinion on the wave of BTC adoption by companies:
1. Having more than one form of payment is a good means of reaching out to more customers. There have been a massive increase in the number of crypto users in the past few years. Therefore these firms will attract more crypto users to thier goods or services if they open doors to crypto payments. - Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
2. There is no free Bitcoin anymore, so I will have to be careful with such service that offers Bitcoin. May of such offers ended up to be scams. Nevertheless, I am will be willing to recieve such reward if I have the opportunity.
3. Accepting Bit Bitcoin will be a dream come through for me in my business because it will gov the business some advantage. But I will have to carryout an analysis or research to ascertain if my clients are willing to pay with Bitcoin. And it will also depend on the kind of services the business offers. If business offers services or sale good that is related to the crypto space ot will be ideal to receive Bitcoin payment. If the target market or customers are youths, adding crypto payment options will be okay because the youths are more conversant with the sector.
I don't have a company yet, but I will surely create a company in the future because I have seen many opportunity that will make me be among the millions in my community if I have the capital to start the company and introduce BTC as a payment for the service.
Well, let me see other people vote in this trend so that I will take some positive things that will help me when our government left the banned on cryptocurrency and BTC and it will give free access to users to use BTC and cryptocurrency freely in the country.
Well, let me see other people vote in this trend so that I will take some positive things that will help me when our government left the banned on cryptocurrency and BTC and it will give free access to users to use BTC and cryptocurrency freely in the country.
I already accept btc as a payment, but only for digital services. For my other business such as restaurant, laundry, etc, I will not accept btc as a payment. Its because price will be expensive for those service, and its not worth for my customer. But I will consider altcoin as a payment, it still worth. But as an entrepreneur, we had to think about price strategy (fee transaction, base service, etc)
Based on El Salvador's experience, I think Lightnign Network is the right solution for widespread adoption. Lightning's million tps speed is enough to serve all user needs at extremely cheap fees, so BTC or satoshi are perfectly suitable to be used in micro payments.What I have to worry about is whether ordinary users are ready in terms of mentality, equipment and knowledge to store and use BTC in daily payments. Perhaps we and BTC both need more time to reach widespread popularity like digital currency in smartphone banking applications.
Quote
Do you think BTC programs will be useful for companies in their efforts to reach users?
If I had too many customer that ask BTC for payment I will add it ASAP. It means BTC can help me to reach more user, and if I add it it will make my customer easy to pay.
Quote
Are you willing to receive rewards in BTC when using future services?
It depend on my business model, price and many other things.
Quote
If you have your own company, are you willing to accept BTC or launch BTC programs?
I already accept btc as a payment, but only for digital services. For my other business such as restaurant, laundry, etc, I will not accept btc as a payment. Its because price will be expensive for those service, and its not worth for my customer. But I will consider altcoin as a payment, it still worth. But as an entrepreneur, we had to think about price strategy (fee transaction, base service, etc)
I would like to know your opinion on the wave of BTC adoption by companies:
- Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
- I think it will be a good thing if that's an option and it will definitely reach different users because bitcoin integration travels fast so people that are interested in bitcoin or have been in the bitcoin space for a long time will definitely check them out but I don't believe that it's going to be a lot of people because most bitcoin hodlers are likely to value their privacy that they might not use the service or program if it means that their identities will be exposed.
- Definitely willing to receive bitcoin as a reward, there's no way that it's a bad idea to accept that compared to fiat or airline miles, maybe if you ask people that haven't been heard of bitcoin before or has no interest in getting there then it's possible that they're going to choose other options, but I'd like to see that bitcoin becomes an option for rewards.
- That would be a complicated matter because companies have to pay their employees and the profits need to be ready plus the cost of maintenance needs to be quickly paid so for now, I think my answer would be no because I don't know how I can that bitcoin paid in my company as it is.
Bitcoin becoming an option for payment is a bit more okay for me, because if it is really adopted in business, it is a bit favorable for the business owner, but for the user or user of bitcoin, it seems impractical, unless the customer holds a lot of bitcoins and will use that as payment.
Especially now that we're in the bull season, it won't really work right now. Of course, if most crypto communities are accumulating bitcoin, they won't act to pay bitcoin, even if they see a lot of merchants accepting bitcoin payments.
I don't know why there is a belief that the adoption of bitcoin has to be aimed at large corporations, ETFs, etc. Yes, they are an important part but it is not the whole, large corporations are well informed, they know that bitcoin has existed since 2009 , the main adoption and it is a shame that many arrive so late, although it will always exist despite the adoption that many love, like large corporations taking bitcoin in bulk, the Satoshi.
In my country, from a legal point of view, you cannot make transactions that involve the use of bitcoin as currency, but it is considered a digital asset, so you can sell it, buy it, but to record payments they must always be made in the equivalent of legal tender.
In my country, from a legal point of view, you cannot make transactions that involve the use of bitcoin as currency, but it is considered a digital asset, so you can sell it, buy it, but to record payments they must always be made in the equivalent of legal tender.
I would like to know your opinion on the wave of BTC adoption by companies:
- Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
- I think it will be a good thing if that's an option and it will definitely reach different users because bitcoin integration travels fast so people that are interested in bitcoin or have been in the bitcoin space for a long time will definitely check them out but I don't believe that it's going to be a lot of people because most bitcoin hodlers are likely to value their privacy that they might not use the service or program if it means that their identities will be exposed.
- Definitely willing to receive bitcoin as a reward, there's no way that it's a bad idea to accept that compared to fiat or airline miles, maybe if you ask people that haven't been heard of bitcoin before or has no interest in getting there then it's possible that they're going to choose other options, but I'd like to see that bitcoin becomes an option for rewards.
- That would be a complicated matter because companies have to pay their employees and the profits need to be ready plus the cost of maintenance needs to be quickly paid so for now, I think my answer would be no because I don't know how I can that bitcoin paid in my company as it is.
Bitcoin becoming an option for payment is a bit more okay for me, because if it is really adopted in business, it is a bit favorable for the business owner, but for the user or user of bitcoin, it seems impractical, unless the customer holds a lot of bitcoins and will use that as payment.
Especially now that we're in the bull season, it won't really work right now. Of course, if most crypto communities are accumulating bitcoin, they won't act to pay bitcoin, even if they see a lot of merchants accepting bitcoin payments.
I would like to know your opinion on the wave of BTC adoption by companies:
- Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
1. Of course yes. I don’t think there’s a way the BTC program will be done and it wouldn’t help in reaching more users.
2. Yes, anything that has to do with Bitcoin, I am diving in.
3. If I had a company, most commonly, I would accept BTC as payment method. On the other hand, launching BTC programs isn’t easy, maybe donating to a BTC program would do.
Even if I have a company, I still cannot use this.
For, there is a sanction that I may probably get by using BTC as a salary. But if this is for another adoption activities, it is probably, whatever to support. But, not as salary or payment method or transaction. Because, in my country, crypto is illegal and banned if used as transaction or payment w=method. We will get punished.
While if using as investment or trading or even other commodity assets, this is legal. That is the regulation of crypto in my country. Except that we will use crypto for transaction with our trusted friends, that love using Bitcoin, and can be trusted to be secret.
Isn't this actually quite sad, when Bitcoin was created for decentralization, while we are still quite depressed and afraid of punishment from our country, and are still stressed about using Bitcoin itself? This is quite sad, but sometimes we only have 1 choice.
For, there is a sanction that I may probably get by using BTC as a salary. But if this is for another adoption activities, it is probably, whatever to support. But, not as salary or payment method or transaction. Because, in my country, crypto is illegal and banned if used as transaction or payment w=method. We will get punished.
While if using as investment or trading or even other commodity assets, this is legal. That is the regulation of crypto in my country. Except that we will use crypto for transaction with our trusted friends, that love using Bitcoin, and can be trusted to be secret.
Isn't this actually quite sad, when Bitcoin was created for decentralization, while we are still quite depressed and afraid of punishment from our country, and are still stressed about using Bitcoin itself? This is quite sad, but sometimes we only have 1 choice.
On the plus side, you might attract new customers, the techy types who love their crypto. Plus, Bitcoin transactions can be speedy and cheap compared to, you know, international bank transfers that take forever. And hey, less fraud risk, that's always a good thing.
But here's the thing, Bitcoin's price is basically a jumpy roller coaster. One minute it's up, the next it's down. Keeping your prices constantly updated to avoid losing out is a major headache. Not to mention, the network can be slow sometimes, like waiting in line at the DMV slow. And let's be honest, not everyone is a crypto whiz – some folks might just be confused by the whole thing.
As for spending Bitcoin, that's totally up to the owner. It's their coin, their choice. Some might prefer to hold onto it like a digital gold bar. The bottom line? Bitcoin in your business is a maybe. If you're a tech-savvy shop with a global audience, it could be worth a shot.
But here's the thing, Bitcoin's price is basically a jumpy roller coaster. One minute it's up, the next it's down. Keeping your prices constantly updated to avoid losing out is a major headache. Not to mention, the network can be slow sometimes, like waiting in line at the DMV slow. And let's be honest, not everyone is a crypto whiz – some folks might just be confused by the whole thing.
As for spending Bitcoin, that's totally up to the owner. It's their coin, their choice. Some might prefer to hold onto it like a digital gold bar. The bottom line? Bitcoin in your business is a maybe. If you're a tech-savvy shop with a global audience, it could be worth a shot.
It would work for freelancer or to those who wants to make the payment through Bitcoin just like how signature campaign in this forum pays every well but the a business cannot be entirely run on Bitcoin or any other crypto for that reason as volatility will be a key factor like what if you have paid a certain amount as a salary or project completion amount as agreed and by the time the recipient what if it's value drops own who will be compensating for those loses and I am taking about real life situation wherein not everyone would hodl Bitcoin as we are talking about business not investment.
On the plus side, you might attract new customers, the techy types who love their crypto. Plus, Bitcoin transactions can be speedy and cheap compared to, you know, international bank transfers that take forever. And hey, less fraud risk, that's always a good thing.
But here's the thing, Bitcoin's price is basically a jumpy roller coaster. One minute it's up, the next it's down. Keeping your prices constantly updated to avoid losing out is a major headache. Not to mention, the network can be slow sometimes, like waiting in line at the DMV slow. And let's be honest, not everyone is a crypto whiz – some folks might just be confused by the whole thing.
As for spending Bitcoin, that's totally up to the owner. It's their coin, their choice. Some might prefer to hold onto it like a digital gold bar. The bottom line? Bitcoin in your business is a maybe. If you're a tech-savvy shop with a global audience, it could be worth a shot.
But here's the thing, Bitcoin's price is basically a jumpy roller coaster. One minute it's up, the next it's down. Keeping your prices constantly updated to avoid losing out is a major headache. Not to mention, the network can be slow sometimes, like waiting in line at the DMV slow. And let's be honest, not everyone is a crypto whiz – some folks might just be confused by the whole thing.
As for spending Bitcoin, that's totally up to the owner. It's their coin, their choice. Some might prefer to hold onto it like a digital gold bar. The bottom line? Bitcoin in your business is a maybe. If you're a tech-savvy shop with a global audience, it could be worth a shot.
As a Bitcoin holder myself, I'd be happy to receive rewards in BTC. It's a great way to accumulate more crypto. But for non-crypto folks, it might be a confusing hassle. They'd need to set up wallets, understand conversion rates, and deal with the inherent volatility. So, BTC rewards could be a boon for some, but a barrier for others. Companies need to weigh the pros and cons carefully.
Bitcoin's volatility makes it a risky proposition for day-to-day operations. Imagine paying salaries or covering rent with Bitcoin – prices could fluctuate wildly, creating financial instability. For most businesses, traditional currencies are still the way to go for core operations. So, is Bitcoin all hype? Not necessarily. Maybe BTC won't be the everyday currency companies use just yet. But it could play a role in loyalty programs, cross-border transactions, or attracting tech-savvy customers. The key is for businesses to find ways to leverage Bitcoin's unique features without jeopardizing their financial stability.
Bitcoin's volatility makes it a risky proposition for day-to-day operations. Imagine paying salaries or covering rent with Bitcoin – prices could fluctuate wildly, creating financial instability. For most businesses, traditional currencies are still the way to go for core operations. So, is Bitcoin all hype? Not necessarily. Maybe BTC won't be the everyday currency companies use just yet. But it could play a role in loyalty programs, cross-border transactions, or attracting tech-savvy customers. The key is for businesses to find ways to leverage Bitcoin's unique features without jeopardizing their financial stability.
<..snip..>
I would like to know your opinion on the wave of BTC adoption by companies:
Do you think BTC programs will be useful for companies in their efforts to reach users?
I would like to know your opinion on the wave of BTC adoption by companies:
Do you think BTC programs will be useful for companies in their efforts to reach users?
I do think that there is a long-term advantage of implementing BTC programs to companies. In effect, it has a similar setup when you ask for a portion of your income to be rewarded as stocks in a given company; the difference is that the stock here would be BTC in the process which can be a long-term investment on your part.
Quote
Are you willing to receive rewards in BTC when using future services?
Yes definitely! As someone who has been active in this forum for seven (7) years, I have personally experienced the wonders of BTC and its long-term advantage via investment. By basing it purely on its price history, you could see its steady growth over the years. This solely would be my basis to consider investing into BTC as a huge opportunity for me and for others should they accept BTC as payment for services.
Quote
If you have your own company, are you willing to accept BTC or launch BTC programs?
If there exist such opportunity, I would definitely accept various BTC programs in order to give importance and notice to everyone.
There is just that massive opportunity whenever a person invests into BTC. With this kind of potential, everyone should be taking advantage of it by investing long-term or by trading it short-term to accumulate profit at the end.
10% cashback in BTC sounds quite nice. This way, the company isn't losing anything because the cashback can only be used for further purchases from this company, but they're also popularizing Bitcoin and making people happier by basically giving a discount for the next purchase. I think such efforts can increase awareness of Bitcoin and perhaps promote some usage of Bitcoin as a currency. But when the price is growing, people don't want to spend Bitcoin because they think they'll get more out of it tomorrow, whereas when the price is going down, they often abandon Bitcoin and don't want to deal with it again, being shocked by how much value it can lose and how fast that can happen.
It is nice using cryptocurrency as a medium of payment in company or financial institution, to enhance fast easy and smooth transaction without network or bank issues. In my opinion, I will say USDT or bitcoin would have been a universal standard payment option in crypto currency worldwide. Instead of using multiple coins as listed above as payment option. If I have an industry today I will like my workers to be paid in Bitcoin or USDT, because it will save me stress of bank issues. Atleast it will increase the knowledge of people about cryptocurrency and they will know the importance and cherish it more when they know it more better.
Jump to: