Topic: Bad market for businesses wey de accept bitcoin. - page 2. (Read 216 times)

This is where people are getting bitcoin creation wrong. You are not to open a business that only accept bitcoin but you should also accept fiat because fiat is the primary currency while bitcoin should be the secondary. Bitcoin was created to be an alternative currency to fiat and not to take over from fiat. No customer or seller using bitcoin that wouldn't have fiat, that is why at the time that the transaction fee is high, you should tell any customer that want to buy your goods to pay in fiat.

I don't see the high transaction fee a barrier for people doing their buying and selling of goods local place, it might be a barrier for international business people but they will still pay the fee, if they love making payment with bitcoin. OP, you can still accept bitcoin as an option of payment, because the high transaction fee will soon subside.

Lol . This matter wey you talk like this me self don dey reason am. emagine say the first bitcoin oga brainboss send me na $2.30 and the transaction fee na $4.3. I come dey reason say dis one na winning at Lost, say e for better make him keep am make the money accumulate before him go send am. two times wey him send na $8 fee for $6.30 transaction, who come loose now? So the matter no be Bobo juice, emagine say na person wey go Barb him hair and money na #500 you come use $4 or $14 according to trust wallet. Come use pay for the hair cut, that means na you be the best customer of the year.

This na another big wahala wey we don find ourselves inside cos I believe right now e dey affect many of us here cos we no fit send or receive Bitcoin either and this follow for problems wey make people no dey like use am for there business despite say e no dey happen often but the fee dey very big where person no fit compromise to pay am.

I go suggest say every business with Bitcoin as payment, make dey cancel out the option for now cos no body get that amount to waste for ordinary gas fee, since the business owners no fit bear the fee and the customers no go also gree bear am even if the person get the money plenty  dat alone na big loss make we dey do our business with our normal Naira as per the best option now.
But certainly everything must surely go back to normal in due time

I follow for people wey de advocate for businesses to de collect bitcoin, as payment. I even de encourage my customers dem to de open bitcoin wallet so dem go fit to de do decentralized crypto transactions. I believe say different business people for all over the world go de do di same thing, to grow di adoption of bitcoin, for payment transaction matters.

But as e be now di matter don fall hand, based on say all di preaching for customers to pay with bitcoin, don partially cast for now. Dis congestion of di mempool, wey come make transaction fees to come high like iroko tree so, na big minus for businesses wey de accept bitcoin, as payment. Na from which person account wey dem wan minus di high fees? Na from seller or buyer money? Imaging say you sale market of $66, and you need to pay transaction fee of $14,  dat na approximately 25% of the total money wey you wan take pay di high fee. If you wan use lightening network, di customer wallet need to enable am too, before una go de reason di technicalities, before di transaction proper.

So in short to accept bitcoin for businesses now no de profitable at all, because seller and buyer no go wan bear the cost of the high fees.

So how una reason di matter, na for di businesses to suspend to de collect bitcoin for now, till di congestion clear? For business owners to bear di fees alone, or push am to dem customers? Have in mind say customers fit to say dem no go pay am and di seller go lose di sales wey im for make profit ontop.