How can we encourage local businesses to accept BTC? - page 46.

marketone

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Quote from: maydna on February 01, 2017, 09:16:47 AM

Quote from: StarofBTC on February 01, 2017, 08:14:14 AM

Quote from: btcdiggingmaster on February 01, 2017, 07:15:16 AM

People should consider bitcoin as one of the payment method for buying any thing in local areas, before that we have to explain in detail about bitcoin advantages to them. So local people should can do two types of business with bitcoin and as well as with their store business.

I think first of all it applies to those shop, markets and stores owners, than the common people will consider bitcoin as one of the payment method.
shop owners must allow bitcoin as a accepted method. just like how lots of shops accept credit cards. same they need to accept bitcoin.

i think your idea can work properly if there are any community or group that giving tutorial or lesson for people so they can trying to search the shop or build their own shop in their city and start to accept bitcoin as their payment. we still having difficulties to find local store that accept bitcoin because the bitcoin education is not much in one city. we should trying to introduce bitcoin into more people and if we have money, then we can build local store and see if there is any progress or not.

I think most of the people are not completely belief in bitcoin, even though we provide good articles to them they are uncomfortable using it. Because bitcoin price is completely depend on market so many people will not show any interest towards trading side. Bitcoin is mainly depend upon the market.

maydna

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Quote from: StarofBTC on February 01, 2017, 08:14:14 AM

Quote from: btcdiggingmaster on February 01, 2017, 07:15:16 AM

People should consider bitcoin as one of the payment method for buying any thing in local areas, before that we have to explain in detail about bitcoin advantages to them. So local people should can do two types of business with bitcoin and as well as with their store business.

I think first of all it applies to those shop, markets and stores owners, than the common people will consider bitcoin as one of the payment method.
shop owners must allow bitcoin as a accepted method. just like how lots of shops accept credit cards. same they need to accept bitcoin.

i think your idea can work properly if there are any community or group that giving tutorial or lesson for people so they can trying to search the shop or build their own shop in their city and start to accept bitcoin as their payment. we still having difficulties to find local store that accept bitcoin because the bitcoin education is not much in one city. we should trying to introduce bitcoin into more people and if we have money, then we can build local store and see if there is any progress or not.

StarofBTC

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Quote from: btcdiggingmaster on February 01, 2017, 07:15:16 AM

People should consider bitcoin as one of the payment method for buying any thing in local areas, before that we have to explain in detail about bitcoin advantages to them. So local people should can do two types of business with bitcoin and as well as with their store business.

I think first of all it applies to those shop, markets and stores owners, than the common people will consider bitcoin as one of the payment method.
shop owners must allow bitcoin as a accepted method. just like how lots of shops accept credit cards. same they need to accept bitcoin.

btcdiggingmaster

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People should consider bitcoin as one of the payment method for buying any thing in local areas, before that we have to explain in detail about bitcoin advantages to them. So local people should can do two types of business with bitcoin and as well as with their store business.

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Quote from: SHAWN-MIDWAYS on January 31, 2017, 04:27:29 PM

Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

The fact in real life turns out totally opposite of your motif. Many of the local merchants are not technically aware of the ways bitcoin can be stolen and hence fail to secure them - as a result they end up with robbed coins and they spread the news that bitcoin is a "scam"

Then they get hold of the person who introduced the bitcoin payment system to them and put them to jail - because none of the legal people even know about bitcoin or crypto-currency.

The fact is we need to make people aware of bitcoin first - but the explaining and trust gaining part is extremely difficult.

Idrisu

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Quote from: Altcoinmoney on November 19, 2015, 06:19:42 AM

If the business is sending money to other country.
Than I think is good to tell them that Bitcoin is a solution because is faster and cheaper.

informing your international clients that the best way to receive payment fast and earlier is through bitcoin. The fees charge by money gram and western union money transfer is too high. Another way I think we can promote bitcoin is by informing family and friends about it. Informing family and friends will create trust and first hand explanation about bitcoin and cryptocurrencies in general.

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Quote from: diegz on February 01, 2017, 12:46:11 AM

Quote from: SHAWN-MIDWAYS on January 31, 2017, 04:27:29 PM

Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

How come that there are hacked wallets? I think fiat is still safer when it comes to security of your money. Robbers won't rob you if they see you on busy streets. They attack when you are alone and helpless. If you are holding a bitcoin and you walk on the street and the robber has an idea about bitcoin, then if they rob you, they'll definitely get your bitcoin.

Anyway, to encourage them, don't push them to dislike bitcoin. What I mean is explain it few times only and don't be an annoyance. That's all.

I'd like to think that robbers have different kinds. There are some that attacks you when they're in stealth mode but there are some that takes advantage of the crowd. If you're in a busy street or a crowded place, when he robs you, you'll easily lose track of him since there's a lot of people. Most people on the street won't help you chase the robber since they have other things to be busy about and mostly the robber have other friends to whom he passes the thing that he snatched from you so they can easily get out of the robbery scene.

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Quote from: SHAWN-MIDWAYS on January 31, 2017, 04:27:29 PM

Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

How come that there are hacked wallets? I think fiat is still safer when it comes to security of your money. Robbers won't rob you if they see you on busy streets. They attack when you are alone and helpless. If you are holding a bitcoin and you walk on the street and the robber has an idea about bitcoin, then if they rob you, they'll definitely get your bitcoin.

Anyway, to encourage them, don't push them to dislike bitcoin. What I mean is explain it few times only and don't be an annoyance. That's all.

choppork

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Quote from: SHAWN-MIDWAYS on January 31, 2017, 04:27:29 PM

Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

Correct. They don't need to have the account logged in on their computer at all since they can just look the address on Blockchain to see if the payment of the customer has already received. Right now, robbers aren't interested in bitcoin wallets yet since they don't understand it yet just like most people. But when it come to the time were they are using bitcoins too, the only bitcoin wallet that can be robbed in a store would be those that are logged in on the phones of the people inside that particular store.

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Quote from: SHAWN-MIDWAYS on January 31, 2017, 04:27:29 PM

Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

Why do you think that bitcoin is safe for business? Every goverment has their revenue service and in my country it requires bank account. Every detail of transaction is recorded in bank and money is protected under bank, also if there will be wrong transaction, we can to solve problem with bank and in bitcoin's situation, you need cold storage, high protect of private keys and if there will be wrong transaction, you can't get it back. Also price of bitcoin is changing very quickly and that's main reason why local businesses aren't accepting bitcoin.

SHAWN-MIDWAYS

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Local businesses should actually find it easy to adopt bitcoin on the security side of things as holding fiat in their safes or tills attracts robbers unlike a bitcoin wallet which would be safer for them and might encourage their customers to use btc for secure cashless transactions.

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Quote from: slapper on January 31, 2017, 11:00:21 AM

Quote from: dmamigo on January 30, 2017, 04:52:07 AM

Quote from: Sadlife on January 27, 2017, 10:58:18 AM

Well firstly show them how they can gain easy profit on it and how to use this crypto-currency

You can tell them how quick and easy is bitcoin to tranfer and send money without any information required not like paypal.

It will be not that easy, the value of Bitcoin is very volatile, so its not guaranteed that he will be in profit. Moreover its tough in many region to change their mindset. Local small shop owners will not likely take this risk. And yes its much easier and safe to transact, but still its risky and the time taken to complete it sometime is much longer.

The more people using bitcoin, the stable the prices will be. Therfore, we must do something to encourage them using Bitcoin. If there are billion of people use it, I doubt that no one can easily affect the bitcoin prices and more people will use it as a currency

Goverment support also affect bitcoin popularity on each country. When more people use bitcoin, bitcoin value will stable just like other currency
For some country , bitcoin become something criminal so they forbid bitcoin usage

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Quote from: dmamigo on January 30, 2017, 04:52:07 AM

Quote from: Sadlife on January 27, 2017, 10:58:18 AM

Well firstly show them how they can gain easy profit on it and how to use this crypto-currency

You can tell them how quick and easy is bitcoin to tranfer and send money without any information required not like paypal.

It will be not that easy, the value of Bitcoin is very volatile, so its not guaranteed that he will be in profit. Moreover its tough in many region to change their mindset. Local small shop owners will not likely take this risk. And yes its much easier and safe to transact, but still its risky and the time taken to complete it sometime is much longer.

The more people using bitcoin, the stable the prices will be. Therfore, we must do something to encourage them using Bitcoin. If there are billion of people use it, I doubt that no one can easily affect the bitcoin prices and more people will use it as a currency

dmamigo

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Quote from: Sadlife on January 27, 2017, 10:58:18 AM

Well firstly show them how they can gain easy profit on it and how to use this crypto-currency

You can tell them how quick and easy is bitcoin to tranfer and send money without any information required not like paypal.

It will be not that easy, the value of Bitcoin is very volatile, so its not guaranteed that he will be in profit. Moreover its tough in many region to change their mindset. Local small shop owners will not likely take this risk. And yes its much easier and safe to transact, but still its risky and the time taken to complete it sometime is much longer.

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Quote from: dhampir-D on January 28, 2017, 07:08:54 AM

The best way to make merchants feel motivated to accept the cryptocurrency is to make them realize that there are people using Bitcoin and supporting it. That means, this is something that will depend on the users, the more users using Bitcoin and requesting that the currency be adopted by the merchants, the more this will catch their attention, and they will have more incentive to provide the payment option for Bitcoin.

Yes merchants always care for their customers and their say so for example if 80% of their customers demands it then they will

consider it and accept it as a payment. But right now that even online shops like amazon or ebay won't accept it we have a much

lower chance on local stores to accept bitcoin. When bitcoin hits its peak of popularity local stores will always be the second one to

accept it cause not everyone can access the internet.

bohr

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Quote from: bit1 on January 25, 2017, 06:52:54 PM

Quote from: bohr on January 25, 2017, 05:35:33 PM

Quote from: Barbut on January 16, 2017, 04:06:38 PM

Quote from: Choy13 on January 13, 2017, 07:00:34 AM

If majority of the people will used the bitcoin in transaction. We can assure and prove to other people that bitcoin is really the fastest way to transact especially in buisness. Not just that ,the value of bitcoin can increase dramatically in less than a minute. It just need proper managing .

First question is why would people use bitcoin in transaction? Bitcoin is not fastest way, and bitcoin price has nothing with selling goods, they have their own price and that price doesn`t depend from bitcoin. Second question is what you think what kind of managing do we need?
Local business need legality and stability, what is someone sell all store for bitcoins and the next day bitcoin price drops significantly, merchant will lose a lot, and he will lose business cause he will not be able to order new stuff. I think local businesses need stability, they will not risk their money and wealth just like that.

Merchants don't need to keep bitcoin if they don't wish to expose themselves to the volatility of the market they could always sell their coins immediately after getting a purchase.

Yes, in theory that should work but I also think that it also depends a lot on the size of the merchants and the volume they handle, to cite an example, let's suppose that a large merchant sells ten thousand usb when price BTC is on $900, if the price falls that same day $50 then he will suffer a loss according to the number he has sold and paid him with BTC, and it's what you mention he should have sold immediately, but what if his sales were made in 20 hours almost all day, talking about an online store for example, the seller can not be changing his BTC every moment,so it could have to wait for at least one day to make the change, but do not know if the price will go up or down, it went up more than $900, He will be happy and will do the exchange, but what happens in the opposite case, that is to say that the price goes down, He will have to wait until the price recovers in the best of cases or sell at a loss which would be very bad for the business, and here you start to see why not many businesses still accept it as payment.

I think by the time merchants are doing thousands of dollars a day in transaction in bitcoin then bitcoin will have enough volume to accept those trades without flinching too much, besides if you traded that bitcoin during the course of the day instead of dumping them all at once then your loss if any will be minimal.

dhampir-D

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The best way to make merchants feel motivated to accept the cryptocurrency is to make them realize that there are people using Bitcoin and supporting it. That means, this is something that will depend on the users, the more users using Bitcoin and requesting that the currency be adopted by the merchants, the more this will catch their attention, and they will have more incentive to provide the payment option for Bitcoin.

ivanst776

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It is not easy for a merchant or for a big business to start accepting bitcoin because of the the finance procedures.

There should be lots of new employees that should be good "crypto-finance" and do the things that are needed within the company.

Larvas has mentioned some good reasons why it is hard for companies to accept bitcoin and collaborate with banks or other things that are needed.

delliaerd

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Quote from: UDC on January 27, 2017, 04:19:12 PM

Well it's hard to change their minds when most news either about bitcoin's price or ransomware demands.

Even in my place there is not a local businesses know about bitcoin so i think they didn't have any bad or good thinking ababout bitcoin. In this situation may be a good chance to explain that bitcoin is good currency and has many advantages, said that business will take many benefits by using bitcoin as well.

Larvas

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It's not that easy guys.

Yes, the online merchants can accept BTC, but most of the offline merchants can't because of several reasons.

First - the invoicing system is not supported by BTC in most countries which have a fiscal cash register (cash register connected to the tax system from the goverment), which means that you can't issue an invoice for BTC-s, e.g. you're avoiding the taxes and your business is ilegal.
Second - the book keeping systems do not accept BTC, which means you have to transfer your BTC to your currency to actually go through the papers
Third - the workers do not accept BTC, mostly because of security (credit cards, loans, payment information, credit score), so, again, you need to transfer it to your currency and pay out the salaries
Fourth - it's in the merchants best interest to keep his money on the bank account, in case a problem occures, he can always go for a loan or a smaller late payment

I still have problems explaining my book keeper and the goverment what PayPal invoices are, and only god knows how it would be if I would want to explain her BTC.

I personally didn't come up with a solution for a legal offline business, but feel free to add your opinion.

Topic: How can we encourage local businesses to accept BTC? - page 46. (Read 184968 times)