Topic: Do you think shops should accept bitcoin? (Read 526 times)

With the situations of the economy globally, i believe fiat currency is risky for a business owner while bitcoin is not despite its volatility in nature but business owners need to be well educated about cryptocurrency and how to cut losses/save their funds before accepting it as payment.

Some shop and store owners in the countries where bitcoin is legalized are already accepting it as payment. However, the current price will be profitable for shops owner and if we compare the economy with bitcoin current price accepting crypto is still better than fiat.

Very useful information. So sellers and service providers don't need to worry anymore about high volatility if they can change it instantly.
Well, everyone has their choice, even though it looks complicated because in my opinion using the national currency is more effective. If we want digital transactions we can use e-money. Basically, I prefer to position cryptocurrency as an investment, so I'm not too interested in using cryptocurrency as a means of payment. Besides its limited adoption, I also consider its effectiveness.

Bitcoin prices that go up and down are already a risk and characteristic of bitcoin. Traders who accept bitcoin payments for goods or services they sell can use the Coinbase Commerse platform, which makes it easy to make transactions using bitcoin and convert them directly to stable coins to overcome the high bitcoin price voting. there are still many platforms besides Coinbase Commerce that make it easy for traders to manage their payments. For buyers who use bitcoin as a transaction have personal authority or their own desire to use transactions with bitcoin or other coins.

Seems a little too soon for shops to start accepting bitcoins,with price fluctuations and all..its risky

It is a risk only if seller not selling his Bitcoin instantly to local currency and decide to hodl.
In past i was thinking all sellers should adopt Bitcoin. I don't think that now, Bitcoin is like digital gold/store of value, it doesn't suit purpose of fast and huge volume transactions, lighting network build on top of Bitcoin can do that, not Bitcoin directly. Higher layer is needed for shops to use Bitcoin.

Stores that accept payments in bitcoin will at least anticipate the problem by implementing a system created to immediately convert bitcoin to fiat, so they don't hold it because of course it will be risky and in addition also because stores require fast money turns. That way, implementing bitcoin as a means of payment is at least very possible but the problem here is that they only consider bitcoin as an asset, instead of spending it would be better at holding and that is the case that I have at least found several times.

You can't just apply this price history thing why should a merchant or store accepts bitcoin as a mode of payment.

They are doing business and not to hold bitcoin for a long period. Since bitcoin price is volatile, how can they maintain their capital?

They can accept bitcoin but all payments will be instantly converted to fiat. After all, they add it to make convenience for those who owned bitcoin but no fiat available on-hand.

I don't think accepting payments with BTC is the right thing to do. There are many reasons for this.

First, business should be profitable. But the price of BITCOIN is constantly changing, by the minute. Therefore, the payment of BITCOIN for shops will be able to turn from being profitable to loss due to the price of BITCOIN falling.

Second, about splitting. Bitcoin can only be broken down in the millions and cannot be broken down. So what happens if the price of an object is less than the smallest split unit of Bitcoin? (satoshi-sts)

Tuesday, on time confirmation - complete the transaction. As we all know, moving BTC will take time. Therefore, if the BITCOIN network is congested, payment in BTC will be a problem because the buyer has paid but the seller has not received it. So how does this handle?

Above are my comments. We hope that everyone will contribute and contribute to our problems being clarified. Thanks

this is a topic that is discussed every year and I believe that most people would be satisfied if bitcoin were accepted as a means of payment and all countries in the world. But breaking the barrier of high volatility won't be easy anytime soon because in this crypto market people enter with the hope of making a lot of money and there are whales that focus on manipulating the price to make a lot of money. Imagine the trader who loses 40% in just one day because the bitcoin price dropped 40% in just one day because some whale manipulated the price? it really is a pitiful situation

Already some shops are accepting bitcoin in some countries. It is left to the customer whether to purchase or not if bitcoin value increase or decrease seller need not worry about it.
There is risk seller should no the proper strategy. Even though bitcoin price goes down one it becomes double anyway seller will be more profitable.

Stablecoins aren't a solution, they are just as centralized as fiat payment systems, with KYC, account seizing and all that stuff. If I were a merchant, I'd rather use Visa than stablecoins - at least it's managed by a large company that can be held accountable, unlike stablecoins that can disappear if something happens to their company.


And small businesses don't sit on piles of cash, they actively use their income to maintain their operation or expand.

Why not? I know that the seller have the huge disadvantage here but in terms of the pandemic that we are facing right now, I guess it is better if we have a lot of payment method to choose from including those crypto currencies or bitcoin that you can use. We should also forget the price change since it is aimed to be used in such transactions.

Before the bitcoin does not accept into our economy only a few people see the potential of this coin to make more earnings but now it is rapidly increasing the number of supporters of the bitcoin are increasing way back on the year of 2017 when the market orice of the coin rises on its highest market price it gives huge attention on the public and many people now getting curious what is all about this coin that we need to do. By the time goes by the market price of the bitcoin is increasing again it soon to hits back into the 10k market price. By that many people see the use the bitcoin and blockchain to make an additional process because its a lot of features like in the Bitcoin is like our real currency converted into the digital world that we can use to pay like in the real-time. Also with the help of the blockchain, all of the transactions today are transparently secured by the help of the algorithm and private keys it is harder to the people to access what is the content of this kind of transaction also you can see If the transaction getting active or pending or it is already canceled cause of some errors.


It is hard to use the cryptoxurrenxy on a company because the market is volatile and there is a chance that their funds and investors may lose up and this is a big deal into their company stocks and the whole organization and mostly the workers having a payment with the use of the fiat currency.

It is not about what we think but the company's opinion. If they think it will be a good investment then they will accept cryptocurrencies eventually.
Risks are always present, in all sorts of field. But it will be beneficial for crypto industry and more so for the promotion of decentralized transactions. Acceptance is the start of movement to decentralization.

Only, if I can come up with a contingency plan for such fluctuation. However, I bought many services with BTC. It is very risky from the seller point of view. I wouldn't do it as a seller. But will do any other stable coins like Tether.

It is to understand how risk is crypto and those small businesses will never risk their life into it. For this will be optional at this time and I know it could still be the same in the next years, decade. The volatility will still remain and this will keep business owners will tend to neglect. Though I could say that Bitcoin has a better or greener future but I don't see that everyone will fully accept this as a currency and even some countries will never give their support as well. This is to put into conclusion that Bitcoin won't ever replace FIAT.

It's been quite a topic in the past but just so you know Bitcoin adoption is really on going and we can't stop that, but some owners may accept it while some don't because they find it hard to manage once the transaction fees fires up it is due to the sudden growth of price of Bitcoin. The small fees you provide the less your transaction would be transacted fast unless you put a higher fee. Shop owners should know about the run and process of accepting Bitcoin as a payment before they apply it on their business.

For adoption they should, but for just joining the fame and fud maybe not since the risk to lose their capital is there since we don't know on what will happen on bitcoins on future and might they will suffer from financial loss if they are not prepared to deal with volatility. That's why I think its better to get a goods stance with bitcoin and widen up the adoption before merchants accepts it.

That is the risk in any business. The seller should know about that. But if he is okay with that, I think he can hold his bitcoin for some time until the price increase high so he can sell his bitcoin, and take another profit. But not all sellers will okay to see the price changes every day, and maybe some of them will shock to see bitcoin price can increase and decrease to any price in a second.

If the owner of the shop want to accept Bitcoin, he should know how the system works and the risks. Shops should accept Bitcoin but they wont ever accept without an exchange system, like Bitpay. That way, they get fiat from the transaction while helping people who want to shop with Bitcoin. But the only one who can lose here is the shopper, then. I think this should be an option everywhere, to be able even if it isn't without risk.