Topic: Do you think shops should accept bitcoin? - page 2. (Read 526 times)
It is hard to accept Bitcoins due to is high fluctuations, But Some shop owners will accept if they will get proper knowledge about Bitcoins. If I have shop I can take payment in Bitcoins because I know how to handle Bitcoin payment. Depend on shop owner's think.
Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
Why not just change the price?
You can't just put a price in Bitcoin the same as the price with fiat though it is true that it is a bit of annoying since you should be able to keep up with the price of it in the market and change the price of it in bitcoin depending on that change. It is a risk really for the reseller but in the long run, I guess it is the advantage of the seller. Another thing is that with the pandemic we are facing now, I guess shops should really accept Bitcoin.
Some shops have been accepting bitcoin as a payment, but of course, we cannot force every business to accept bitcoin. Those who accept bitcoin and other cryptocurrencies are already into it and are willing to risk. If you are a shop owner, why would you accept bitcoin if you are not aware of its volatility?
Since bitcoin's price changes easily, it depends on the owner if they are willing to accept it. Although I have not personally encountered some small-scale businesses who accept crypto, it would be great to know that some businesses are adopting it. From a seller's point of view, a sudden drop may be a loss to them but if you will just hold it for the long-term, you can gain higher profit. That's why it depends on the shop, and if I were to make my own business, I will be glad to accept bitcoin payment as well.
Since bitcoin's price changes easily, it depends on the owner if they are willing to accept it. Although I have not personally encountered some small-scale businesses who accept crypto, it would be great to know that some businesses are adopting it. From a seller's point of view, a sudden drop may be a loss to them but if you will just hold it for the long-term, you can gain higher profit. That's why it depends on the shop, and if I were to make my own business, I will be glad to accept bitcoin payment as well.
Yes, I agree that accepting Bitcoin as a mode of payment for a certain service or product pose risks on Business. Although, I don't think that as of now, small businessmen will not accept Bitcoin as their mode of payment because of the fact that their capital is low and they cannot afford to hold their Bitcoins and wait for it to rise because they only have limited amount of capital that they immediately need to purchase raw materials.
Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
Yes, if the store accepts payment in bitcoin, it will be quite risky. Because the value of Bitcoin is not stable, it fluctuates. Who is going to suffer losses if Bitcoin drops in price? Moreover this is very inconvenient for retail shops and even for shoppers. And for large businesses that can pay with cryptocurrency. 
I'm sure the bitcoin community really wants all shops to accept payments with bitcoin. Because with many stores that accept
payment by bitcoin, this will make bitcoin growth more rapidly. If the issue of bitcoin prices can go up or down suddenly, this
can be overcome by converting bitcoin to fiat instantly when the seller accepts payments with bitcoin.
payment by bitcoin, this will make bitcoin growth more rapidly. If the issue of bitcoin prices can go up or down suddenly, this
can be overcome by converting bitcoin to fiat instantly when the seller accepts payments with bitcoin.
Yes But
Shop is Regular Business. their Business is sell something.
Accepting bitcoin is Not Primary Business.
If some company or Platform Give Immediately USD Settlement. Then They Might be Instrested
Or They Get Choice in Platform Hold or Auto Selling When they Received payments.
Shop is Regular Business. their Business is sell something.
Accepting bitcoin is Not Primary Business.
If some company or Platform Give Immediately USD Settlement. Then They Might be Instrested
Or They Get Choice in Platform Hold or Auto Selling When they Received payments.
Yes, that is a major issue but the chance of $10 becoming $20 is also high. Considering the price of Bitcoin from 2010 till date it has always gone up.
For example let's look into the price of Bitcoin on Bitcoin pizza day
2010: $0.0041
2011: $6.47
2012: $5.07
2013: $120.96
2014: $508.41
2015: $238.17
2016: $445.23
2017: $2,136.02
2018: $8,465.99
2019: $7,623.51
2020: $9,205.40
So, if a vendor accepts Bitcoin he/she will benefit and not incurr any loss.
For example let's look into the price of Bitcoin on Bitcoin pizza day
2010: $0.0041
2011: $6.47
2012: $5.07
2013: $120.96
2014: $508.41
2015: $238.17
2016: $445.23
2017: $2,136.02
2018: $8,465.99
2019: $7,623.51
2020: $9,205.40
So, if a vendor accepts Bitcoin he/she will benefit and not incurr any loss.
This is a really bad of thinking about it, business owners aren't long-term investors, they are mostly focused on short term. Just look how covid-19 impacted small business, so many of them were forced to close because they can't afford a month or two of rent when they have no income. The same can easily happen with Bitcoin - imagine a business that mostly accepts Bitcoin and doesn't convert it, and one month Bitcoin crashes by 50% - now they are at a loss and will have to take loans or get closed, but it's still a risk because there's no guarantee that Bitcoin won't fall further.
If a shop wants to accept BTC, they need to be smart about it, have a solid strategy for converting to fiat, prepare for it legally, maintain proper security, etc.
No one will need to convert to fiat with the right Bitcoin ecosystem. If we have multiple stablecoins backed by national currencies on Bitcoin network, people could accept Bitcoin or their "national stablecoins". I think I would prefer to aThe ccept Bitcoin and automate it to convert, maybe 50—70% to stablecoin whenever I receive payments. I wouldn't trust leaving all my funds in fiat currencies long-term
Because of volatility Bitcoin still represents a risk for merchants and not much of them.are willing to accept Bitcoin as payment method. Also, mostly online shops accept Bitcoin and in physical stores that is very rare.
I think there should be bigger number of shops who accept Bitcoin but there should be some campaigns.that would encourage them and thus they would attract more customers, especialy younger generations so it would be worth for them.
I think there should be bigger number of shops who accept Bitcoin but there should be some campaigns.that would encourage them and thus they would attract more customers, especialy younger generations so it would be worth for them.
Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
I am interesting in having online shop because my Cousin is already establishing His own and there are really good profit inside
Online business.
And asking about Bitcoin acceptance as payment for Business?of course this is advantageous because i have enough capital
that can take those Bitcoin payment into another investments of mine.
so i invested in Online shop and also for Bitcoin holding isn't that a great idea?
Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
If they are going to be converting it to fiat at the end of the day, then it’s of no need. It would be better for them to just accept fiat and nothing else. And moreover, there is a fee that is being charged when you try converting your coins to fiat or another cryptocurrency.Cryptocurrency is good, but I won’t recommend it to a small business. A small business that is making use of cryptocurrency might be experiencing loss, because of the processes that will be involved in converting and withdrawing their money. Big businesses are the ones that can accept Bitcoin, because they will still cover up the fees and wouldn’t mind if the price of Bitcoin drops.
But immediately converting it into fiat will make them more vulnerable to the fees, so maybe they will just save or hold it for awhile and they will convert it altogether when its price is reasonable for a profit. Also a business that accepts crypto will really grow from time to time, they just need to comprehend how bitcoin moves in the market so that they know what to do with them. Although a small business will do, but you need to become more flexible and you learn how to adjust for your small business to grow. For a big companies, it is not that hard for them to make profit using cryptocurrency because big companies have business partners and that will make them to promote more and gain cryptocurrency when they know that people are using it as a payment in transactions.
There are big problems when shops accept bitcoin for the payment of the customer, the feature of bitcoin being volatile makes it a big problem for the seller. I don't think that there would be a customer that will buy their products when the value of the bitcoin goes high, they will wait for the price of the bitcoin to goes low before they buy something. The seller won't make a profit from accepting bitcoin.
There are already existing shops that accept bitcoin for payment, there is some hotel that uses bitcoin to pay for the reservation, there are also some schools that accept bitcoin as payment for the tuition, and many other things.
You have mentioned the risk of accepting the bitcoin for payment so there are still many shops that do not accept cryptocurrency for payment, but if they are going to make it like this, the example they offer payment for coffee then they are going to give the coffee and exact price example $1 then they may but it using bitcoin at least the seller won't lose from doing that.
That is a great idea if they are going to have a fixed price of Dollars on the product and they will let the customer pay bitcoin, the seller won't lose their money from it but the customer would also wait for the price of the bitcoin to goes high. You have mentioned the risk of accepting the bitcoin for payment so there are still many shops that do not accept cryptocurrency for payment, but if they are going to make it like this, the example they offer payment for coffee then they are going to give the coffee and exact price example $1 then they may but it using bitcoin at least the seller won't lose from doing that.
There are already existing shops that accept bitcoin for payment, there is some hotel that uses bitcoin to pay for the reservation, there are also some schools that accept bitcoin as payment for the tuition, and many other things.
You have mentioned the risk of accepting the bitcoin for payment so there are still many shops that do not accept cryptocurrency for payment, but if they are going to make it like this, the example they offer payment for coffee then they are going to give the coffee and exact price example $1 then they may but it using bitcoin at least the seller won't lose from doing that.
You have mentioned the risk of accepting the bitcoin for payment so there are still many shops that do not accept cryptocurrency for payment, but if they are going to make it like this, the example they offer payment for coffee then they are going to give the coffee and exact price example $1 then they may but it using bitcoin at least the seller won't lose from doing that.
There are a number of opinions that companies should not accept Bitcoin due to high price and fee volatility. It is certain, however, that as the Bitcoin network develops, this way of thinking will change in the future and there will be more and more companies that accept Bitcoin.
They will be having plans with those things in the future, bitcoin is really great from payment purposes, it makes the transactions easier and faster compared to fiat currency. Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
Although there is lightning network which can reduce high fees for bitcoin transaction but there just a few people who still interested to use the way. It may lightning network is more centralized and make the user tend to avoid it. Whereas we need such platform, bitcoin's transaction is high already.
So, it will be hard if bitcoin used by online shop as mean of payment system. They may look an altcoin which has a low fees and fast for transaction process like XLM.
Some stores already accepted bitcoin on shopping stores and it's a good way to spread awareness and adoption towards the future of cashless society. I don't see any objection of this kind of pursue towards bitcoin as the second source of payments but it still depends of the store if they accept or not. It still not globally accepted but one day it will become a reality despite the volatility negativity effect of it.
The store owner should be open-minded and knowledgeable about bitcoin for that to happen. If the owner knew the idea of bitcoin where it is volatile in the market, he will understand how to manipulate and get profit from it. There are more profit in bitcoin than you can imagine, there's something more about that, it is not just a digital currency, it can give changes in people's lives.
You're right that there are some stores that are already accepting bitcoin as a payment, I'm pretty sure that they will benefit that for so long because of what bitcoin can do to their business. People just need to adapt and believe in the ability of bitcoin in giving you profit. Never doubt bitcoin as it is the most famous and popular cryptocurrency in the market.
Many people are already investing to it, so if you're owning a business or store, learn and understand how bitcoin works in order for you to grow more in the near future.
Many online sites are now using Bitcoin as their payment system. It may happen in the near future, But it will take a long time to happen. I don't think it is likely to happen very soon. There is a fear that the price will go down. On the other hand, once the price goes up there will be some risk. This is normal. But the last thing is that if the current situation continues, it will never be possible.
Some stores already accepted bitcoin on shopping stores and it's a good way to spread awareness and adoption towards the future of cashless society. I don't see any objection of this kind of pursue towards bitcoin as the second source of payments but it still depends of the store if they accept or not. It still not globally accepted but one day it will become a reality despite the volatility negativity effect of it.
Majority of the shops actually do not want to accept bitcoin ot other crypto coins as a payment. You just said the reason: volatility.
If one particular item will cost $5, and the market goes up or down, buyer will still pay btc/usd costing $5. It's still great and advantageous if the shop receives it at low market price and it surged up. But what if it was the opposite and they need to convert crypto right away? Those are the problems we can determine.
Plus fees and waiting for that transaction to be confirmed.
If one particular item will cost $5, and the market goes up or down, buyer will still pay btc/usd costing $5. It's still great and advantageous if the shop receives it at low market price and it surged up. But what if it was the opposite and they need to convert crypto right away? Those are the problems we can determine.
Plus fees and waiting for that transaction to be confirmed.
Not thing yet because small shop is not stronger when accepted bitcoin as payment way because higher fees, many people not have the same payment without get fee for each transaction and better for small shop using cash money for transaction, I know easy and faster if using bitcoin but how to make charge fee little for many people only getting 100$ for each transaction, its enough they have pay fee more than $4?
Bitcoin price goes up and down all the time. If someone buys something costing 10$, the next day it may cost less or more. So it's a risk for the seller.
So the seller can accept stable coins if he doesn't want to see the bitcoin price is volatile so after he gets his stable coin, he can hold the stable coin, or he can send it to the exchanges to buy bitcoin. The seller will have so many options for the coins that he wants to use as the payment system, and he doesn't have to used bitcoin if he worries with the fluctuated price of bitcoin.
Bitcoin price will be like that, while the seller can allow their customer to use cryptocurrency to pay whatever they buy from the seller. That can help cryptocurrency grows too so many people can know that they have another option to pay.
I think there is a seller who can accept the risk of the fluctuating of bitcoin price so they can still use bitcoin as the payment method.
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