Fiat will be involved no matter what. And so far, the BTC won't be in the cold storage wallet. But, there are other open source projects that can help us. The merchants just need to understand it on their own that they do not need to pay heavy fees with Coinpayments.
Topic: Bitcoin adoption and payment gateways - page 2. (Read 364 times)
because today we see that fiat is still recognized by the world, and bitcoin is banned in some countries. so, bitcoin can only be converted to fiat for payment, but in some countries, bitcoin has become an unlimited transaction exchange rate.
so, I think that bitcoin processors help adoption, and will not affect bitcoin publicity.
so, I think that bitcoin processors help adoption, and will not affect bitcoin publicity.
This will be good news. If the merchant uses these payment gateways, it will be very helpful for the promotion of the community.
This might not be a bad thing But we basically exchange exposure with extra selling pressure.
the coins that may be sold to give merchants fiat equivalent don't come out of thin air. they are coins that were bought on the market by someone else and now is being sold by another person. in other words they cancel each other out to some extent.
besides payment processors like bitpay aren't just going to sign up on some exchange and suddenly dump a large amount. they have other means of turning the received bitcoin into USD that doesn't affect the market.
Bitcoin payment processor certianly help in making for better adoption of bitcoins.if the options is easily available to all, people will then start using bitcoins as a means of payment, not just as a specuaaltive tool
Transaction is all what bitcoins need to get wider adoption which will move the value up due to demand pressure. Whether the merchants are selling the bitcoins collected on behalf of their customers to the market that is the exchange that we need than holding for ever.
Until the liquidity issues with BTC and other Cryptocurrencies are resolved (which if estimated liberally will still take a while) these methods of accepting BTC will be necessary for merchants to utilize. especially those with high overhead and narrow profit margins. So while day to day it will indeed create a notable selling pressure it is a necessary step towards mass adoption IMO.
A Third party application or website can help merchants get the full amount without paying the transaction fees. In this case, BTCpay server will be very helpful. Upon this, market will regain the balance between demand and supply. Merchants will no longer be reluctant to extra like BitPay of CoinPayments.
Yes, most merchants accepting bitcoin do use such a payment gateway.
They get paid in BTC -> the payment processor converts the BTC to fiat -> pays the merchant in fiat.
While you are right with the fact that it creates selling pressure since these coins are directly sold on an exchange, it is the first step towards BTC adoption.
The goal is not to always convert the BTC into fiat when paying a merchant, but it does reduce the inhibition level of a merchant accepting bitcoin.
Imagine how many merchants would accept BTC if they had to mannually sell them at the end of the day/week/month on an exchange, without knowing how much they actually will get. Since they often only have a small margin, this could completel destroy their business (especially if it is a smaller business).
The more accepted bitcoin as a mean of payment gets and the lower the volatility will be, the more merchants will start to accept direct bitcoin payments (at least if they actually can use these btc to pay their costs).
It is a bumpy road until BTC is seen as THE mean of payment, but it has to start with BTC->Fiat procesors.
They get paid in BTC -> the payment processor converts the BTC to fiat -> pays the merchant in fiat.
While you are right with the fact that it creates selling pressure since these coins are directly sold on an exchange, it is the first step towards BTC adoption.
The goal is not to always convert the BTC into fiat when paying a merchant, but it does reduce the inhibition level of a merchant accepting bitcoin.
Imagine how many merchants would accept BTC if they had to mannually sell them at the end of the day/week/month on an exchange, without knowing how much they actually will get. Since they often only have a small margin, this could completel destroy their business (especially if it is a smaller business).
The more accepted bitcoin as a mean of payment gets and the lower the volatility will be, the more merchants will start to accept direct bitcoin payments (at least if they actually can use these btc to pay their costs).
It is a bumpy road until BTC is seen as THE mean of payment, but it has to start with BTC->Fiat procesors.
I think you are saying well. Bitcoin adoption is very good thinking for crypto people. it will help to easily transaction. it is a very good system for bitcoin people. its future is bright.
Bitcoins payment is most easy and transaction fee free and this is very useful for traders. And gradually they will interested to accept bitcoin. And there have some way to avoid extra selling pressure.
It's like you said, there is definitely fiat being involved. I don't see steam having bitcoins in a cold storage wallet (when they used to accept bitcoin).
I however believe that BTCPayServer being an open source project will help us. It's just a matter of time until merchants realize that they could use it and that they don't need to pay any fees like with BitPay or CoinPayments.
I however believe that BTCPayServer being an open source project will help us. It's just a matter of time until merchants realize that they could use it and that they don't need to pay any fees like with BitPay or CoinPayments.
Is Bitcoin payment processors helping with the adoption?
My concern is merchants that accept Bitcoin as a form of payment use these payment gateways. to my knowledge these payments processors pay USD or some sort of fiat back to the merchants. Putting aside the publicity Bitcoin gets it only takes Bitcoins from customers, sell it at the market price and pay the merchants.
This might not be a bad thing But we basically exchange exposure with extra selling pressure.
Or this exposure brings in more Byers.
My concern is merchants that accept Bitcoin as a form of payment use these payment gateways. to my knowledge these payments processors pay USD or some sort of fiat back to the merchants. Putting aside the publicity Bitcoin gets it only takes Bitcoins from customers, sell it at the market price and pay the merchants.
This might not be a bad thing But we basically exchange exposure with extra selling pressure.
Or this exposure brings in more Byers.
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