Bitcoin's acceptance in the World | Bitcointalksearch.org

kawetsriyanto

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Quote from: ice098 on November 06, 2019, 01:06:30 PM

Bitcoin will soon be accept in many countries, it is started in asia I think, more and more people in Asia already make bitcoin as one of the payment for every purchase they are doing.

I am not really sure if it will be soon but I agree that many countries in Asia seem to consider accepting Bitcoin. My country is one of the countries that still don't accept Bitcoin for a national payment instrument, so Bitcoin is still used for a digital asset only. The laws in our country only validate Rupiah as a national currency [national payment instrument]. So, it is prohibited to use Bitcoin for purchasing goods in my country.

ice098

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Quote from: Capt00 on November 06, 2019, 11:00:48 AM

Quote from: deviant99 on November 06, 2019, 09:14:19 AM

Bitcoin is unexpectedly becoming a recognized payment method.There are loads of different places or websites that will accept payments in Bitcoin and if this continues people will recognize it be accepted but it still depends on the government

That's true, it seems that bitcoin is most widely use online since a lot accepts payment through bitcoin online and bitcoiners also use it to do exchanges from one person to another and I think it will continue to be in the future and I believe it is just a matter of time until a point where majority of the people are using bitcoin.

Bitcoin will soon be accept in many countries, it is started in asia I think, more and more people in Asia already make bitcoin as one of the payment for every purchase they are doing. Many traders I think are in Asia, specially in southeast and in India. There will be a time that the whole world will soon accepts it they just observing other countries so that they can do necessary move once they are in that situation also.

panganib999

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Quote from: HammadAli on October 22, 2019, 06:46:47 AM

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be a major step ahead.

Bitcoins volatility could be lessen and is controllable with the help of massive adoption. If there will be lots of users. There are theory that suggests that the volatility if bitcoin could drop if there would be an increase in business and customer usage. The reason of the latter is, the sensitivity of the exchange rate is being lessen by tge usage of payment creating an estimation that there's a large welfare loss of 1.4% of consumption that the current Bitcoin scheme generates. It could be lessen substantially to 0.08% by adopting an optimal design reducing mining and just focuses exclusively on money growth.

wxxyrqa

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Quote from: Capt00 on November 06, 2019, 11:00:48 AM

Quote from: deviant99 on November 06, 2019, 09:14:19 AM

Bitcoin is unexpectedly becoming a recognized payment method.There are loads of different places or websites that will accept payments in Bitcoin and if this continues people will recognize it be accepted but it still depends on the government

That's true, it seems that bitcoin is most widely use online since a lot accepts payment through bitcoin online and bitcoiners also use it to do exchanges from one person to another and I think it will continue to be in the future and I believe it is just a matter of time until a point where majority of the people are using bitcoin.

To date, there has been a lot of information that large international companies were interested in Bitcoin, which could positively influence not only the future of Bitcoin, but also the development of the entire cryptocurrency market. Nevertheless, Bitcoin cannot satisfy all the requirements due to problems with transaction speed and unstable price.

Capt00

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Quote from: deviant99 on November 06, 2019, 09:14:19 AM

Bitcoin is unexpectedly becoming a recognized payment method.There are loads of different places or websites that will accept payments in Bitcoin and if this continues people will recognize it be accepted but it still depends on the government

That's true, it seems that bitcoin is most widely use online since a lot accepts payment through bitcoin online and bitcoiners also use it to do exchanges from one person to another and I think it will continue to be in the future and I believe it is just a matter of time until a point where majority of the people are using bitcoin.

Eugenar

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I might suggest that this topic will contribute to why more people will be engaging crypto for the next few months.

here: https://bitcointalksearch.org/topic/china-will-not-ban-bitcoin-mining-5199202

Upon the freedom of mining facilities, bitcoin acceptance will be huge as we can assure profits by miners that will enable smooth transactions of our favorite cryptocurrency. China will have a massive contribution plus its massive population in order for us to expect huge ROI as well as better acceptance of cryptocurrency. If other countries will do the same thing with China, the competition will make the demand for bitcoin even higher and I can see, this scenario will induce cryptos massive adoption.

deviant99

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Bitcoin is unexpectedly becoming a recognized payment method.There are loads of different places or websites that will accept payments in Bitcoin and if this continues people will recognize it be accepted but it still depends on the government

jakoylantern

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For me, yes, bitcoin's acceptance is now massive compared to its last five years. More and more countries are now seeing the factor that bitcoin is not an enormous threat to there economy, but they mostly make some regulations to those companies, establishment, etc. that will accept bitcoin as payment. As what I see here in my country because bitcoin is almost legal, it still has a pros and cons. By the way, I get the pros and cons part.

JC btc

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Quote from: Fappanu on October 25, 2019, 01:47:50 AM

Bitcoin payment can still happen, but it still depends on the company as they can either be bankrupt or profitable. As some of our members here said in the forum, we can convert accepted payments to USD immediately. To avoid price volitile. And that way we can now accept the payment of bitcoin in our stores. Because we don't do this we can be led by big companies that accept bitcoin, And here they will have a lot of costomers because many use bitcoin.

The integration of Bitcoin and cryptocurrency is quite fast, over the past 2 years we have seen great results. The only thing that many operators and potential customers do not like is the price of Bitcoin, its volatility!

Actually yes, Bitcoin phasing is really fast, we even have 2 Bitcoin ATMs here in our country and they are still trying to put up in some place where there are many users. Also, Venezuela has also have Bitcoin ATM in their country and adopting Bitcoin to be used in their country.

Wysi

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Quote from: Eugenar on October 24, 2019, 11:42:26 PM

Quote from: HammadAli on October 22, 2019, 06:46:47 AM

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be a major step ahead.

In my opinion, it would be better that bitcoin will stay in having a high volatility in the market. Since it is the characteristic that no other Financial assets have. We, and investors somehow want the massive volume change in a short period of time as we can have huge profits from it.

Actually some big investors are turing tide their way by fluctuating the price using the huge volume of bitcoin they hold and yes volatility will always stay but what we have seen in last one year or so is something which is clear evidence that bitcoin is controlled. Bitcoin will always remain superior to other coins as far as it's characteristics of bouncing back but other altcoins have better features nowadays.

Fappanu

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Bitcoin payment can still happen, but it still depends on the company as they can either be bankrupt or profitable. As some of our members here said in the forum, we can convert accepted payments to USD immediately. To avoid price volitile. And that way we can now accept the payment of bitcoin in our stores. Because we don't do this we can be led by big companies that accept bitcoin, And here they will have a lot of costomers because many use bitcoin.

Eugenar

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Quote from: HammadAli on October 22, 2019, 06:46:47 AM

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be a major step ahead.

In my opinion, it would be better that bitcoin will stay in having a high volatility in the market. Since it is the characteristic that no other Financial assets have. We, and investors somehow want the massive volume change in a short period of time as we can have huge profits from it.

angrybirdy

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Quote from: yohananaomi on October 24, 2019, 12:28:15 PM

Quote from: Upgate on October 24, 2019, 09:07:41 AM

Quote from: HammadAli on October 22, 2019, 06:46:47 AM

If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Don't just see it in a one sided view if cryptocurrency lose 10percent then it's a lose for the company but don't forget if bitcoin gain 10 percent then it's a gain for the company also.
And the company should be aware of that already before asking for payment in bitcoin

all transactions made with bitcoin will always have an indirect impact. because we must know that bitcoin is not static, bitcoin moves quickly up and down and obviously will have a direct impact on the movement.
This is a risk that must be borne when using a bitcoin transaction. can be beneficial and can also be detrimental, all depends on the bitcoin movement.

It's like a double edge sword, they can earn or have losses.
If we can estimate like 10% of loss of earnings, it highly affects the company and it can result in both bad and good impact.
Both consumers and producers will be affected in terms of having an equal transaction.

yohananaomi

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Quote from: Upgate on October 24, 2019, 09:07:41 AM

Quote from: HammadAli on October 22, 2019, 06:46:47 AM

If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Don't just see it in a one sided view if cryptocurrency lose 10percent then it's a lose for the company but don't forget if bitcoin gain 10 percent then it's a gain for the company also.
And the company should be aware of that already before asking for payment in bitcoin

all transactions made with bitcoin will always have an indirect impact. because we must know that bitcoin is not static, bitcoin moves quickly up and down and obviously will have a direct impact on the movement.
This is a risk that must be borne when using a bitcoin transaction. can be beneficial and can also be detrimental, all depends on the bitcoin movement.

wxxyrqa

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Quote from: Flor1982 on October 24, 2019, 12:35:31 AM

The disadvantage of accepting Bitcoin as payment will trully a risk for the business owners if the Bitcoin market value falls down but i think they already know this kind of disadvantage before partnering with Bitcoin as the merchants numbers keep on growing in the whole world because maybe they only see the huge advantages of Bitcoin price rising up but not the disadvantage of having the price will go down.

Maybe I'm naive, but for some reason it seems to me that over time, cryptocurrency users will stop treating Bitcoin as an asset that makes profits for speculators and traders due to their volatility. If in the future we improve the scalability of Bitcoin and interest users in using Bitcoin as a profitable means of payment, then its price will not only increase, but also stabilize. But for the legal daily use of Bitcoin by each person, you must have the appropriate laws. We must accept and acknowledge the fact that cryptocurrency will only work if it is legalized, and legalization will happen only after regulators and controlling structures take control of the cryptocurrency market.

jets567

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Nowadays Bitcoin can be easily converted to fiat currency using a third-party services so I don't think it will be a big problem for a company who accept Bitcoin as payment, they should know the risk of using Bitcoin because being extremely volatile is one of its distinct characteristics. It may not be good for a company's perspective but its a whole different story for a trader because they considered Bitcoin's volatility as a good thing.

Oneandpure

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Quote from: HammadAli on October 22, 2019, 06:46:47 AM

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be a major step ahead.

Many issues make bitcoin terrible for every transaction payment and give bad issues as bitcoin bad using for transaction by many country want to make bitcoin have bad reputation from new investor, they will keep USD and cash money still have value if bitcoin have many investor almost people want to move their money saving in the bank become bitcoin or altcoin assets.

Upgate

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Quote from: HammadAli on October 22, 2019, 06:46:47 AM

If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Don't just see it in a one sided view if cryptocurrency lose 10percent then it's a lose for the company but don't forget if bitcoin gain 10 percent then it's a gain for the company also.
And the company should be aware of that already before asking for payment in bitcoin

dothebeats

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Volatility has always been this double-edged sword affecting bitcoin in all fronts. It has always helped bitcoin reach peaks that were considered impossible and helped bitcoin anchor its name in the global economic scene. Also, volatility equates bitcoin as something that’s not exclusively deflationary, which promotes spending at times and not only hoarding which is bad in the long run.

Flor1982

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The disadvantage of accepting Bitcoin as payment will trully a risk for the business owners if the Bitcoin market value falls down but i think they already know this kind of disadvantage before partnering with Bitcoin as the merchants numbers keep on growing in the whole world because maybe they only see the huge advantages of Bitcoin price rising up but not the disadvantage of having the price will go down.

Topic: Bitcoin's acceptance in the World (Read 720 times)