Topic: How soon will automakers start accepting crypto for there payments - page 3. (Read 624 times)
July 19, 2018, 02:15:50 PM
I don't really see it as a big deal for dealers to be accepting cryptocurrency payments. Fr someone to be accepting crypto they must have a knowledge about how crypto works and must be really comfortable with it. Besides adoption will take time and when it happens it will be possible for different businesses to be accepting cryptocurrency. What we should be concerned is for government to get off our back and adoption will spread faster than what is really happening now.
July 19, 2018, 12:26:47 PM
very soon. autoblock ico in uk already got plenty of second hand dealerships waiting for the mainnet launch.
July 19, 2018, 12:23:37 PM
As crypto gains more exposure and more "legitimacy" in the eyes of government and big business, we will see more people willing to take the leap. Right now you really either have to be big on crypto, or looking for some sort of way to stand out from other businesses.
There still remains a big learning curve with crypto, and most businesses just don't have the time or desire to figure it all out.
There still remains a big learning curve with crypto, and most businesses just don't have the time or desire to figure it all out.
July 19, 2018, 12:12:37 PM
Bitcoin still has a big hole to get the government's heart to regulate and legalize any payments system using bitcoin.
It's just a matter of time to make that happen, clearly when many countries accept bitcoin or legally used as a payment system and many people in the country are already using bitcoin so they can push the government to immediately stick the bitcoin as a payment system.
Due to government action that strictly prohibits to crack down on bitcoin users is a useless thing. The internet network can be manipulated by them, so its consideration is prohibited but it will not give a deterrent effect or legalize it and the government can get rewarded from taxes.
It's just a matter of time to make that happen, clearly when many countries accept bitcoin or legally used as a payment system and many people in the country are already using bitcoin so they can push the government to immediately stick the bitcoin as a payment system.
Due to government action that strictly prohibits to crack down on bitcoin users is a useless thing. The internet network can be manipulated by them, so its consideration is prohibited but it will not give a deterrent effect or legalize it and the government can get rewarded from taxes.
July 19, 2018, 06:25:54 AM
Not so soon, I'm afraid. Car industry is no different than any other business or industy that is having issues with accepting Bitcoin payments. High volatility and lack of regulation makes Bitcoin as a high risk payment method so industry is not keen to accept it.
I think this situation will not change so soon and the solution I see is to save the Bitcoin but than convert it to fiat and buy a car. Direct Bitcoin payment system might take long.
I think this situation will not change so soon and the solution I see is to save the Bitcoin but than convert it to fiat and buy a car. Direct Bitcoin payment system might take long.
July 19, 2018, 03:48:18 AM
The dream is that Bitcoin is a unified currency for the whole world, where it is possible to go to any country and pay to the taxi driver/automakers using it without exchange that faces many problems/challenges starting with the legal status of Bitcoin and not ending with price fluctuation.
The legal situation: There are still countries that prohibit trading in Bitcoin so it is necessary to ascertain the legal status or violation of those laws may expose those companies to massive losses, especially that those companies span more than one country.
Price fluctuation: A decrease of $ 5 from the value of each transaction is considered to be a threat to this way of payment.
High fees: Bitcoin's network is still limited for everyday use, so it has to wait a bit.
The legal situation: There are still countries that prohibit trading in Bitcoin so it is necessary to ascertain the legal status or violation of those laws may expose those companies to massive losses, especially that those companies span more than one country.
Price fluctuation: A decrease of $ 5 from the value of each transaction is considered to be a threat to this way of payment.
High fees: Bitcoin's network is still limited for everyday use, so it has to wait a bit.
Yeah! This fluctuation/volatility is the biggest issue, not just for car dealers but any merchant. Cars are high-value items too, so any volatility in Bitcoin's price would result in very significant effects on their business. 15% moves like we just saw 2 days ago sits fine with a trader, but what if the move went the other way?
This is why you not only have to convince merchants to accept Bitcoin, you have to convince them to move to crypto and leave behind fiat mechanisms. And there has to be a market ecosystem all in Bitcoin, from suppliers, to manufacturers, to sellers and consumers, who all use Bitcoin. Then the fiat values make less and less problems.
July 18, 2018, 04:13:36 PM
If you are talking about brand new cars, the problem for the dealer is that they have to pay the manufacturer in fiat, so taking bitcoin etc will impact their cash flow, in addition they have to stand the rate of exchange risk. It may be easier for a secondhand car dealer to take crypto. I believe the only manufacturer who will accept BTC is Tesla, but I may be wrong.
July 18, 2018, 01:56:10 PM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
In my country it is illegal to buy a car with cash and since bitcoin is the digital equivalent of cash it is very unlikely automobile dealers are ever going to accept bitcoin as a payment, I do not know if things are like that in other countries but if it isn't then there is a chance that in the future you can by a car with bitcoin, but for that to happen you will depend on the adoption growing significantly in your country and that could take a long time. 
July 18, 2018, 06:18:16 AM
The dream is that Bitcoin is a unified currency for the whole world, where it is possible to go to any country and pay to the taxi driver/automakers using it without exchange that faces many problems/challenges starting with the legal status of Bitcoin and not ending with price fluctuation.
The legal situation: There are still countries that prohibit trading in Bitcoin so it is necessary to ascertain the legal status or violation of those laws may expose those companies to massive losses, especially that those companies span more than one country.
Price fluctuation: A decrease of $ 5 from the value of each transaction is considered to be a threat to this way of payment.
High fees: Bitcoin's network is still limited for everyday use, so it has to wait a bit.
The legal situation: There are still countries that prohibit trading in Bitcoin so it is necessary to ascertain the legal status or violation of those laws may expose those companies to massive losses, especially that those companies span more than one country.
Price fluctuation: A decrease of $ 5 from the value of each transaction is considered to be a threat to this way of payment.
High fees: Bitcoin's network is still limited for everyday use, so it has to wait a bit.
July 12, 2018, 09:22:45 AM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
I think this will depend on the level of popularity in a country about the existence of crypto because in a country that has a high crypto rate of popularity, I think it will definitely have a lot of crypto users and of course any car company would dare to accept payment by using crypto. 
July 12, 2018, 09:08:15 AM
This is a problem not only in your country. Still a lot of countries do not know how to behave with crypto currency, especially in the issue of legal use. I hope that not only in car dealerships but also any other services can be paid using crypto currency.It seems to me before 2025 to use the crypto currency will be very many countries
July 12, 2018, 08:05:35 AM
Establishments and dealers still do not accept Bitcoin or cryptocurrency in general as it is very volatile and you should understand that establishment owners and dealers do not want to accept payment that is volatile and fluctuates every time as they would need to get their revenue as soon as they get your payment and with cryptocurrency volatility the will have uncertain revenue.
July 12, 2018, 05:50:38 AM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
Uuhm… you wouldn’t find them there. I believe that most people there wouldn’t be much interested in accepting Bitcoin for their business, they will prefer fiat over Bitcoin. Only those that are into online business would know about Bitcoin and maybe accept it for whatever business they are doing. But is it a must you will use Bitcoin to purchase a car? 🤔Ain’t there other ways you can do so? You can even go to the place they are selling it to pay direct maybe with your card or cash.
July 10, 2018, 09:35:33 PM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
An overarching theme I've seen that definitely relates to your situation has a lot to do with third world countries adding crypto acceptance to all kinds of situations. It's pretty tough when people don't really have access to a lot of technology in those countries because all of a sudden cryto's reach is definitely shortened. Auto dealers in a few first world countries do accept crypto and people who sell their cars independently definitely do accept whatever form of currency they want. Maybe it's just a time aspect.
July 10, 2018, 07:41:30 PM
Forbearance is the key to success,
let's be patient, and believe in the future, bitcoin will be the legitimate money in this world,
it just takes time, bitcoin will be recognized in all countries, and then, we can be free to buy anything with bitcoin,
and we can also donate to all countries for those who need money.
let's be patient, and believe in the future, bitcoin will be the legitimate money in this world,
it just takes time, bitcoin will be recognized in all countries, and then, we can be free to buy anything with bitcoin,
and we can also donate to all countries for those who need money.
July 10, 2018, 04:22:04 PM
Should be soon enough especially with the times nowadays, it's incredible!
July 10, 2018, 04:01:33 PM
No one knows how soon, also It depends entirely on the merchant and such decision from them are often influenced by various factors which I believe one of them is "news" so what will happen next is a crucial part. With the recent bans, regulation, hacks and dumps, It's no wonder they may feel circumspect about bitcoin but there's no denying that such happenings just lead to more publicity which is a good thing imo, it could always trigger curious people joining in.
Anything can happen really, but there is no accurate time frame for that so if you're planning to transact with these auto dealers, it would be better to just convert your btc's into fiat and use it for payment.
Anything can happen really, but there is no accurate time frame for that so if you're planning to transact with these auto dealers, it would be better to just convert your btc's into fiat and use it for payment.
July 10, 2018, 03:59:09 PM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
A few questions:1. What is the general attitude of the average Nigerian to Bitcoin and Cryptocurrency?
2. What is the stance of your government on everything cryptorelated?
3. Are there stores or businesses in Nigeria that have started accepting bitcoin?
Your response to the three questions will give you an insight to how long auto dealers in Nigeria will accept crypto payments!
July 10, 2018, 03:27:06 PM
I think that is about volatility of Bitcoin, when it will have more users it will be also more stable and than it will expand much wider!
July 10, 2018, 03:05:18 PM
This has been my concern here in my own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
It's not an issue to your country only but majority of the countries are still lack of auto dealers to accept bitcoin.However in my country there's an auto dealer that's accepting bitcoin, luckily and he's giving discount worth $283 if the buyer's gonna pay him bitcoin.
While in some places, I found these news:
Japanese Luxury Car Dealer Accepts Bitcoin Payments Up to $1 Million
Bitcoin (BTC) Payments Now Accepted For Stephen James BMW Cars
Jump to: