Crypto Currency acceptance Everywhere

BALIK

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Quote from: uneng on December 29, 2022, 08:55:21 PM

Quote from: Quidat on December 29, 2022, 07:59:46 PM

Quote from: ?? on ??

It will be a very nice thing if crypto currency is accepted everywhere just that I'm seeing it on internet and it will be a very easy for transactions across the globe.

Easy to say but it would be hard to be implement, you should consider these factors;

1. Country regulation
2. Bitcoin/Crypto recognition
3. Hesitance of people on engaging on it
4. Not all business owners or establishments can handle volatility

Its good to see if these things could be applied and would see lots of places do accept crypto
as one of their payment option.

Also, depending the price of the products many customers don't feel confortable in paying with bitcoin, because if they are too cheap like a tea cup, transactions' costs are going to be more expensive than the product itself. The initiative is good, though, and if seller and buyer use a same wallet/exchange provider, there can be the option to send btc from one address to another without paying fees, depending the service used.

I think the biggest barrier is that apart from not being recognized by the government, its volatility is the biggest problem that makes people hesitate to accept and use it. If we buy bitcoin for 50k and the next day the bitcoin price drops to 45k, I believe no one will be brave enough to use bitcoin for payment, no one wants to pay more bitcoin for 1 item, while if you pay in fiat, there is no loss and no extra transaction fees.
A highly volatile asset is more suitable for investment than a payment method.

uneng

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Quote from: Quidat on December 29, 2022, 07:59:46 PM

Quote from: ?? on ??

It will be a very nice thing if crypto currency is accepted everywhere just that I'm seeing it on internet and it will be a very easy for transactions across the globe.

Easy to say but it would be hard to be implement, you should consider these factors;

1. Country regulation
2. Bitcoin/Crypto recognition
3. Hesitance of people on engaging on it
4. Not all business owners or establishments can handle volatility

Its good to see if these things could be applied and would see lots of places do accept crypto
as one of their payment option.

Also, depending the price of the products many customers don't feel confortable in paying with bitcoin, because if they are too cheap like a tea cup, transactions' costs are going to be more expensive than the product itself. The initiative is good, though, and if seller and buyer use a same wallet/exchange provider, there can be the option to send btc from one address to another without paying fees, depending the service used.

Quidat

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Quote from: ?? on ??

It will be a very nice thing if crypto currency is accepted everywhere just that I'm seeing it on internet and it will be a very easy for transactions across the globe.

Easy to say but it would be hard to be implement, you should consider these factors;

1. Country regulation
2. Bitcoin/Crypto recognition
3. Hesitance of people on engaging on it
4. Not all business owners or establishments can handle volatility

Its good to see if these things could be applied and would see lots of places do accept crypto
as one of their payment option.

big kid

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Yeah, it's good to see how crypto acceptance is spreading across the world. But I can see it only on the internet, I'm not sure in my country someone will accept is as payment soon.

Sokoloau

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Quote from: borovichok on December 25, 2022, 02:40:56 PM

Quote from: Godday on December 25, 2022, 07:53:02 AM

This is certainly a very remarkable thing for crypto users in the country because they can buy their tea using crypto assets that they already have, and this is a form that the crypto world is growing and the government is already so concerned about digital currencies that they ask for tax payments, and this is a way that is indeed worthy of being supported by the government for the development of the crypto world for the future.

Cryptocurrency is growing rapidly due it's important function it triggered in the modern era and ease payment. Countries adapting the payment method of cryptocurrency is making an advance step further to eradicate the use of fiat currency. Acceptance of crypto in our present world would have been a dream come true to some certain individuals who are desperate to make it part of their livelihood. Cryptocurrency is the future and government placing high tax on it would only prevent the mediocre set of people from it but the determined ones will always look for a way out.

The positive impact of cryptocurrencies around the world has led more and more countries to accept cryptocurrencies for payment, and many small businesses have begun to understand and support the use of it. Cryptocurrency is bright and has potential, it will be accepted and used by more people over time, and it will become legal in more places in the future.

Tanvi50_

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This is a very positive site to see. but i would like to know more about it. what crypto do they accept and how is it working?
we will see more in the upcoming future. people are starting to accept the new thing as they are becoming bored with the old ones.
hopefully in coming years we can see more like this happening all over the world.
imagine a dude coming to visit you from abroad and doesn't know how much to pay with your local currency. now all he need to do is scan a code and pay with crypto.

klidex

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Quote from: Inwestour on September 10, 2022, 05:33:19 AM

Quote from: pgbit on September 10, 2022, 03:43:54 AM

acceptance of cryptocurrency everywhare is not visible in the world of crypto. Because the price of crypto is often not stable. And always fluctuates. And then the current bear market, all cryptocurrencies have depreciated much from their original prices. In such a situation, when all cryptocurrencies are devalued, its use in transactions will lead to losses for owners. Because stablecoins are always use as a currency everywhere.This volatility of cryptocurrencies will always be the biggest rock in their way.And every one would seem to be hesitant to use it everywhere as a currency.

If we are talking about stables, then the volatility of the crypto market should not react to them as much as to Bitcoin. If an investor sold some of his bitcoins in a bull market and now he has funds in stablecoins, then he can spend them wherever payments are accepted and he will definitely not be worried about market volatility. Unless he wants to buy bitcoin back now in order to make a profit again in the future.

For now, I think there is still very little chance of finding a place or country that has legalized cryptocurrencies as legal tender.
Especially in countries that claim that cryptocurrencies are illegal, there are still many country governments who think that cryptocurrencies can drop the value of their fiat currency and can inflate the country's economy.
So it's not an easy matter to be able to spend cryptocurrency anywhere.

borovichok

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Quote from: Godday on December 25, 2022, 07:53:02 AM

This is certainly a very remarkable thing for crypto users in the country because they can buy their tea using crypto assets that they already have, and this is a form that the crypto world is growing and the government is already so concerned about digital currencies that they ask for tax payments, and this is a way that is indeed worthy of being supported by the government for the development of the crypto world for the future.

Cryptocurrency is growing rapidly due it's important function it triggered in the modern era and ease payment. Countries adapting the payment method of cryptocurrency is making an advance step further to eradicate the use of fiat currency. Acceptance of crypto in our present world would have been a dream come true to some certain individuals who are desperate to make it part of their livelihood. Cryptocurrency is the future and government placing high tax on it would only prevent the mediocre set of people from it but the determined ones will always look for a way out.

Godday

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This is certainly a very remarkable thing for crypto users in the country because they can buy their tea using crypto assets that they already have, and this is a form that the crypto world is growing and the government is already so concerned about digital currencies that they ask for tax payments, and this is a way that is indeed worthy of being supported by the government for the development of the crypto world for the future.

Dzwaafu11

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I think if we should use crypto currency to do our transaction right now people may see it difficult to use it,especially now that the price is still low to use crypto for will assets what those that have a little assets and the investors it won't be suitable for them but if the price is much stable we can use it sometimes but even crypto we can't just rely on it every time.

MiF

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Yeah it's everywhere it is accepted in different countries, and i also notice that it is very popular in social media also here in my country there is a lot of digital wallet that has a convert and swap option to crypto currency, maybe we are not far from the digitalization and soon crypto will be more useable than fiat.

Inwestour

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Quote from: pgbit on September 10, 2022, 03:43:54 AM

acceptance of cryptocurrency everywhare is not visible in the world of crypto. Because the price of crypto is often not stable. And always fluctuates. And then the current bear market, all cryptocurrencies have depreciated much from their original prices. In such a situation, when all cryptocurrencies are devalued, its use in transactions will lead to losses for owners. Because stablecoins are always use as a currency everywhere.This volatility of cryptocurrencies will always be the biggest rock in their way.And every one would seem to be hesitant to use it everywhere as a currency.

If we are talking about stables, then the volatility of the crypto market should not react to them as much as to Bitcoin. If an investor sold some of his bitcoins in a bull market and now he has funds in stablecoins, then he can spend them wherever payments are accepted and he will definitely not be worried about market volatility. Unless he wants to buy bitcoin back now in order to make a profit again in the future.

pgbit

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acceptance of cryptocurrency everywhare is not visible in the world of crypto. Because the price of crypto is often not stable. And always fluctuates. And then the current bear market, all cryptocurrencies have depreciated much from their original prices. In such a situation, when all cryptocurrencies are devalued, its use in transactions will lead to losses for owners. Because stablecoins are always use as a currency everywhere.This volatility of cryptocurrencies will always be the biggest rock in their way.And every one would seem to be hesitant to use it everywhere as a currency.

famososMuertos

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... everywhere! It has always been like this, the matter lies in the intention not of some individuals but in the support of being able to do it without prohibitive conditions by the government.

The idea of the right to use technologies for the benefit of the collective should be expanded, there are organizations (ONGs) that support access to ATMs to have access to Fiat money, if you didn't know it some countries have limitations for something so common.

The point with what I mentioned is that we have to improve the scope, if you put a ads with the message bitcoin is a right (Know Your Rights) you don't get into legal problems if that's the case, and in the specific of your OP it's exciting but we need millions of ads, (please figurative sense, hopefully the literal will come one day)

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Quote from: spiker777 on September 09, 2022, 12:50:39 PM

Quote from: AlphaEther on September 01, 2022, 03:56:40 PM

Not everywhere. Specifically in our country i think there isn't any shop that accepts payment on crypto.

don't be disappointed mate. it is not just your country there are many countries in fact majority of country's nations don't have or know concept of accepting Bitcoin or Crypto as a Form of payment in their businesses.
but Crypto adoption and awareness slowly increasing and more and more people getting to know about it. I am sure there is no shop in your country which accept crypto psychically but there must be people who use crypto online for trading and other online activities.

For now, there are still countries that don't consider cryptocurrency as a mode of payment but it's a good thing that there are also countries that recognize it as a currency. Time will come when more countries will see the worth of crypto as well as the convenience that it could provide everyone.
In our country, even small businesses are starting to accept Bitcoin payments which I think is visible proof that blockchain technology is innovating in our place. Don't feel disappointed but we're all in the process of step-by-step adaption.

A few years ago, there was not a single country or store that accepted bitcoin but now things are slowly changing. that's a very good sign. We need more time and can't be too hasty, bitcoin is still very new to many people. As long as the popularity does not stop growing then bitcoin will soon be accepted worldwide.

At some point, I believe governments will no longer be able to stop the popularity of bitcoin as its demand grows, if they don't want to be left behind and slow down then bitcoin adoption is just a matter of time.

Slow death

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Quote from: Piesel on September 09, 2022, 08:58:58 PM

The title of the topic looks misleading to me, cryptocurrency is not accepted everywhere since it is not yet a global legal tender so saying cryptocurrency is accepted everywhere seems to be an exaggerated statement.

from what I understand he is saying that cryptocurrencies are being used everywhere, and this is true, even in countries where they were banned people managed to use it even if the government doesn't like it and has banned it, and honestly no longer It makes sense that at a time like this there is some country that is banning the use of cryptocurrencies, knowing that most things like exchanges, crypto casinos are willing to comply with government recommendations regarding KYC

I also see that my country is starting to have places that accept bitcoin, it is still a very small number, but I believe that in 10 years we will have a very large number of places in my country that will accept bitcoin as a payment method, maybe even the government at that time pass laws on bitcoin

Piesel

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The title of the topic looks misleading to me, cryptocurrency is not accepted everywhere since it is not yet a global legal tender so saying cryptocurrency is accepted everywhere seems to be an exaggerated statement.

Indeed crypto has provided us a better alternative to traditional currency but then again we should know the role cryptocurrency plays in our financial life, accepting cryptocurrency in a business is a sure way to increase your customer's satisfaction most especially crypto lovers but none cryptocurrency lovers may see it as a waste of time for them to make payment using cryptocurrencies.

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Quote from: Smartvirus on September 09, 2022, 07:54:34 PM

Quote from: ChiNgadOr on September 09, 2022, 05:36:30 PM

It is the duty of crypto exchanges to tax users on trades they are making which can be indirectly collected by the government especially in a crypto that accepted crypto and ask for heavy tax from crypto companies.
Each transaction we are making on exchanges like swapping of coins and sending of coins out of a crypto exchange requires tax each users pays and if the government ask for there own share then nothing is wrong with that.
Crypto exchanges make lots of money from us for swapping out coins other channels of earning from us.

You know sometimes they talk about taxation as it is the main issues with cryptos. Like, can someone really exists in any nation without paying taxes?

Yes. The truth is that there are tax havens all over the world. And some of them are even pleasant places to live in. If your only criteria for a tax haven is zero income tax, then you'll be able to find somewhere to live without worrying about taxes. According to investopedia, there are at least four countries in the world without income tax.

United Arab Emirates
The Bahamas
Bermuda
Monaco

Smartvirus

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Quote from: ChiNgadOr on September 09, 2022, 05:36:30 PM

It is the duty of crypto exchanges to tax users on trades they are making which can be indirectly collected by the government especially in a crypto that accepted crypto and ask for heavy tax from crypto companies.
Each transaction we are making on exchanges like swapping of coins and sending of coins out of a crypto exchange requires tax each users pays and if the government ask for there own share then nothing is wrong with that.
Crypto exchanges make lots of money from us for swapping out coins other channels of earning from us.

You know sometimes they talk about taxation as it is the main issues with cryptos. Like, can someone really exists in any nation without paying taxes?
Thee are direct and indirect taxes and somehow, the government gets to collect this either from its individual citizens directly or on the goods they buy or services they pay for. Its just the way it is.
I am from a country where taxe is mostly so.etning we read in books and the few persons that pays taxe directly are those working in public offices as civil servants. As the government deducts there valued income taxe directly from there salary while paying them monthly but for the ordinary citizens, it comes as indirect taxe. The same goes for bitcoin in most.

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Quote from: kryptqnick on September 01, 2022, 08:46:29 AM

I don't know about India, but taxation legislation differs from country to country, and enforcement of compliance with such legislation differs as well. In my country, cryptos aren't really taxed yet because the details weren't figured out. Some pay income tax, I think, and some pay property tax, if they really want to make their coins fully 'green', but it's not obligatory. But even with things which are taxed, many ignore it and don't pay taxes because, unless it's like a big business, the authorities won't come after you.

because the government's unclear regulations do not fully tax crypto users, the tax is only focused on crypto companies or local crypto exchanges, so they have official permission to manage the crypto market with a predetermined tax. and for india currently imposing a hefty crypto tax for its users which is around 30%, this is a tremendous tax to pay.

It is the duty of crypto exchanges to tax users on trades they are making which can be indirectly collected by the government especially in a crypto that accepted crypto and ask for heavy tax from crypto companies.
Each transaction we are making on exchanges like swapping of coins and sending of coins out of a crypto exchange requires tax each users pays and if the government ask for there own share then nothing is wrong with that.
Crypto exchanges make lots of money from us for swapping out coins other channels of earning from us.

Topic: Crypto Currency acceptance Everywhere (Read 981 times)