I was shocked that my Neighbor also used bitcoin as mode of payment - page 2.

Oasisman

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Quote from: gunhell16 on June 07, 2023, 01:36:07 AM

I just want to share something here, because I have a neighbor here who has a small store called Sari-Sari store, whose goods are, can goods, coconut, wine, candies, soft drinks, soy sauce, and so on. I was just surprised when I was going to buy from his store, there was a poster that said "We accept Bitcoin" as payment, I smiled at this neighbor of mine.

I asked him what motivated him to do this, and although it's good that he did it, Then who will be the customer who will use Bitcoin to pay for his goods? His answer to me was me, I laughed even more and was happy with his answer. Because apart from me, even his children, when buying their goods, he will also teach them to pay with Bitcoin. You're doing a good job, teaching your children and awareness about Bitcoin, keep doing it and I'll support you in that matter.

And his answer to me is that his cousin is doing bitcoin trade and he mentioned to him that bitcoin is his cousin's primary source of income, and he also advised him that bitcoin can be used as an option for payment for his goods. , and also taught him how to do it.

It's funny because at least I'm not alone in our place anymore, and I also told my neighbor that if he wants to ask a question, He can ask me anytime.

Does anyone willing to pay bitcoin? even if the fee is even more than the amount of your purchases from that store? I mean I know a "Sari-sari" store, usually customers doesn't spend that much barely a dollar every single purchase, compared to how much you are gonna pay in the supermarket/grocery stores. I'd be surprise if someone actually did that, not even you have done that right? because the fees might even more than the amount of your purchase. Nevertheless, that's a good initiative on trying to accumulate bitcoin from the customers who purchase goods rather than accumulating them using your fiat as there will be a fee when you buy bitcoin on your own.
It would also be better if you got a picture from that store showing the signage about accepting bitcoin payments and post it together in the OP.

Stella Mese

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now that bitcoin is increasingly recognized by many people, it is not surprising that there are people who are starting to want to experience bitcoin transactions by making payments using btc like your neighbors who have shops that can pay using bitcoins.

but if my hear your story, it seems that the owner of the shop is still a beginner in bitcoin, if he asks you for help, I think you should be able to explain to him about bitcoin or the risks of investing in btc.

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Quote from: gunhell16 on June 07, 2023, 01:36:07 AM

~

The term "Sari-sari Store" is proof that we are from the same country (PH). Correct me if there are some other countries who are using this term though.
This move of him is good, but it has a bad side as well.

The good thing is that, he's helping towards the adoption of Bitcoin in one way or another... and I guess that's only the good thing of it.

Now the bad side. Since we are talking about sari-sari store, prices of goods that are being sold in that kind of store is small, and if you will add the transaction fees the buyer has to add, overtime it might be a burden for him. Unless the buyer will buy in bulks, then the fees will not be felt at all. Another thing is that, I don't know if it's only me, but he might be more prone to 5$ wrench attacks because more people will know that he's involved into Bitcoin, and cryptocurrency.

TBH, there are more bad things than good things with this move, but it's his decision at the end of the day. I wonder how many customers of him will use Bitcoin to pay those goods. Maybe you can try yourself? Cheesy

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Quote from: Poker Player on June 07, 2023, 01:46:00 AM

Nice story, but, assuming it's true, it doesn't seem to me the best time to accept Bitcoin payments in a physical store, being the fees to get a transaction confirmed in the next block around $2. If I'm going to buy $10 worth of items in the store why should I have to wait ten minutes on average and pay a 20% fee if paying with cash I don't pay fees and I don't have to wait.

I have to believe that the plenty of people who sell groceries and paste the bitcoin accepted never gets customers to patronize them with bitcoin. It could be that they put those signs for formality purpose and for people to see them that they are upto date and enlightened.
When I see this type of post, I have to think about the wait time and who bears the transaction fees which is likely that they will be sending through exchanges and not wallets.

Quote from: Poker Player on June 07, 2023, 01:46:00 AM

Using LN would make more sense, but you would have to open a channel with each customer, so neither.

Even many people here have never tried the LN payment and know how it works, let alone a shop owner who bearly knows about bitcoin.
I have been hearing these types of stories and I don't have strong reasons to believe them, but there are reasons not to believe because there are no evidences.

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Quote from: yazher on June 07, 2023, 06:42:59 AM

I had the same experience when I walking in town the other day I thought it was just a normal QR code from our local online payment but guess what? it was Bitcoin payment accepted here, I just forgot to take a picture because I was rushing to my appointment. Looks like nowadays we are heading in some new direction regarding bitcoins payment and when you go to some bigger cities in our country, you often see that they also have some stores that accept bitcoins there. That's one of the signs that bitcoins are now gaining more trust from the people unlike before and I'm sure in the future the common fish vendors will also accept it as a means of payment as well.

Maybe like you, op also forgot to take a picture of his neighbor who he didn't fully imagine or expected to do so he was surprised. We don't know, but it's still a good development and establishing such a thing at least there is some bitcoin adaptations happening in their community.

who knows, maybe why his neighbor did that just to save money and to do this he included it in his small business in their area. There are people like that, who don't care about trading, their only goal is to accumulate bitcoin even if they don't know enough about it.

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Quote from: gunhell16 on June 07, 2023, 01:36:07 AM

I just want to share something here, because I have a neighbor here who has a small store called Sari-Sari store, whose goods are, can goods, coconut, wine, candies, soft drinks, soy sauce, and so on. I was just surprised when I was going to buy from his store, there was a poster that said "We accept Bitcoin" as payment, I smiled at this neighbor of mine.

This is really very interesting, every time you read a story related to the use of Bitcoin as a means of payment, doesn't this mean that more and more people know and accept Bitcoin, right? Maybe it's not that big but actually it's a good step up from the bottom and from small things.

What's more, indeed, sometimes we personally secretly relate to Bitcoin and don't tell other people, especially the people around us, for several reasons. Like what happened here, I also don't understand whether the people here are related to Bitcoin or not. Because actually, things related to crypto and Bitcoin are still often being debated. Too bad I haven't found new people who are also doing business in crypto here.

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@OP, it is good news that you were not alone in your community anymore. It is not surprising to see people's stores accepting Bitcoin because Bitcoin advertisements are almost everywhere, especially on the internet. I like the way you offer your knowledge in helping your neighbor to have more understanding about Bitcoin.

Quote from: Marykeller on June 07, 2023, 04:08:15 PM

Your neighbor accepting bitcoin as another mode of payment is actually good but the problem will be, will people in your locality be able to pay for the goods they are to buy from your neighbor with bitcoin despite the gas fees of $2 and above depending on the things they are paying for.

It is quite easy if they have installed the same application on their mobile phone. For example, an internal transfer in Binance exchange doesn't charge anything. So if it happens that the customer of the store have account in Binance and have some BTC fund, then they can make a fee less transaction. Although the target customer of the store is @OP, I am sure some people around will get interested soon.

Quote from: Marykeller on June 07, 2023, 04:08:15 PM

I don't know why some people don't get their research done before adopting bitcoin payment in their business. If your neighbor has noticed of recently about high gas fees of bitcoin, he would have known that, this shouldn't be the best time for someone to pay for something with an extra charge of bitcoin while he can pay easily with fiat without a single charge on top of what his paying for.

As I stated internal transfer of exchanges has no fee, and people who are trading have their funds on exchanges, and in Binance, P2P conversion if the seller wanted to sell his Bitcoin for Fiat also don't have to pay for trading fees. So, the sales the store generates don't have to pay any fees if they wanted to accept and convert Bitcoin to fiat for restocking purposes.

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Your neighbor accepting bitcoin as another mode of payment is actually good but the problem will be, will people in your locality be able to pay for the goods they are to buy from your neighbor with bitcoin despite the gas fees of $2 and above depending on the things they are paying for.

I don't know why some people don't get their research done before adopting bitcoin payment in their business. If your neighbor has noticed of recently about high gas fees of bitcoin, he would have known that, this shouldn't be the best time for someone to pay for something with an extra charge of bitcoin while he can pay easily with fiat without a single charge on top of what his paying for.

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Bitcoin has indeed gained considerable attention in recent years, making it a household term for many. However, not everyone who watches the news about Bitcoin takes the time to dig into it. The fact that your neighbor decides to accept Bitcoin as a form of payment in his store can really play a role in increasing Bitcoin awareness and understanding among his customers. Not only does he serve those who are already using Bitcoin, but he also piques the curiosity of those who may have heard of it but haven't delved deeper into its workings or potential benefits. This is an effective way to bridge the gap between people who have heard of Bitcoin but have not discovered more about it, opening up the possibility of understanding and using cryptocurrency more in daily life.

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Quote from: gunhell16 on June 07, 2023, 01:36:07 AM

I just want to share something here, because I have a neighbor here who has a small store called Sari-Sari store, whose goods are, can goods, coconut, wine, candies, soft drinks, soy sauce, and so on. I was just surprised when I was going to buy from his store, there was a poster that said "We accept Bitcoin" as payment, I smiled at this neighbor of mine.

I asked him what motivated him to do this, and although it's good that he did it, Then who will be the customer who will use Bitcoin to pay for his goods? His answer to me was me, I laughed even more and was happy with his answer. Because apart from me, even his children, when buying their goods, he will also teach them to pay with Bitcoin. You're doing a good job, teaching your children and awareness about Bitcoin, keep doing it and I'll support you in that matter.

And his answer to me is that his cousin is doing bitcoin trade and he mentioned to him that bitcoin is his cousin's primary source of income, and he also advised him that bitcoin can be used as an option for payment for his goods. , and also taught him how to do it.

It's funny because at least I'm not alone in our place anymore, and I also told my neighbor that if he wants to ask a question, He can ask me anytime.

I'm glad that bitcoin is accepted as a payment method when shopping. It is both motivating and instructive for future generations. There are bitcoin ATMs around and some places accept bitcoin payments. Glad to see this and I think bitcoin is on the right track. So bitcoin will reach everyone. I will not go into details about your purchase, I do not want to ask questions such as how long the transfer process will take, I just want to say that you are facing a very good situation. Bitcoin will be in many places as time goes on.

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I don't think bitcoin is something strange in 2023 for most countries. In fact I am very sure there are many traders and investors who are widespread in every country although bitcoin has not been legalized as a means of payment. Many people use bitcoins as their way of making money, so that's why I can find them easily especially when they are gathered together somewhere.

As a currency, bitcoin is a suitable means of payment. But traders and buyers have to be smart enough to get around things because of price volatility and transaction fee. Adoption of bitcoin as a means of micro payment has also been supported, but I believe bitcoin tends to be used for macro payments rather than micro payments. Bitcoin is suitable for cross-border financial transactions, apart from its fast transaction speed, it is also safe.

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Quote from: gunhell16 on June 07, 2023, 01:36:07 AM

It's funny because at least I'm not alone in our place anymore, and I also told my neighbor that if he wants to ask a question, He can ask me anytime.

I can understand the feeling of having someone who shares the same ideologies with you as well as accepts bitcoin in a neighborhood where it seems using Bitcoin is a crime 🤔.
I don't know how strict the restrictions on bitcoin is in your country but you guys should take things easy and still stay very much undercover till you feel safe using the asset openly as we've heard similar incidence where some security personnel came harassing a petty trader simply because she uses bitcoin with claims that she helps to aid crime through trading with bitcoin.

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Quote from: taufik123 on June 07, 2023, 09:51:46 AM

That means you become a spreader of Bitcoin knowledge and awareness that Bitcoin will provide better benefits for your neighbors or people near you.
You become a teacher who teaches how Bitcoin works and even tells about this forum.

Yeah I am aware that I also spread the information about Bitcoin and I am glad that I taught someone because now I have someone I know that I can talk about the forum, crypto and other information. My brothers and sisters are already inactive inthe forum and also in crypto. All I can hear from my siblings is they only ask if I sti continue posting in the forum or not and I always answer "yes". It's better if I teach those who are interested near me and if they want to learn then all they need to do is to ask metk teach them.

robattfield

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Bitcoin and other cryptocurrencies have gained more awareness and acceptance over time. So I'm not surprised by this, but it's also a joy when neighbors and relatives start to accept Bitcoin as a form of payment. When they see Bitcoin as a potential investment opportunity or a hedge against inflation, they can try to use and accept it as a payment method. Although not everyone openly uses Bitcoin or other cryptocurrencies, Many people prefer to keep their financial choices private. However, as awareness and acceptance continue to spread, it is becoming more common to encounter others using or accepting Bitcoin with various capabilities.

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Using bitcoin as a source of investment and also as a payment system implies to the fact that lots of people are accepting bitcoin. Bitcoin is regularly adopted and surely one day bitcoin will be accepted by numerous individuals all over the world. As your neighbor mentioned about bitcoin so his this act is beneficial, he is spreading good thoughts about bitcoin by doing so. One thing is important to note that as bitcoin is using as a method of payment, it has positive impact as well as it also include some risk because of unregulated nature which a shopkeeper should know and then should take some decision according to it.

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Quote from: Dzwaafu11 on June 07, 2023, 02:00:09 AM

Since you just said that your neighbor heard about it from his cousin, which implies that he only heard bitcoin stories and became interested, I think from your statement that your neighbor didn't know how bitcoin transactions work. Your neighbor needs to learn about bitcoin transactions before accepting bitcoin as a form of payment in his store, however, as that would enable him to operate in his store.

I think the cousin has already done that but it's still not a bad idea if the OP can enlighten the neighbour the more. I just think the timing is wrong based on the mempool congestion and the high transaction fee on the bitcoin network. No one would one to pay for those petty goods he sells with Bitcoin because of high transaction fees. The publicity is good though and I hope he gets more patrons when the bitcoin network gets better.

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It's really a good thing that shopping malls are using Bitcoin. But it would be better if you mentioned which country you live in and it would be easier for us to understand. Because not all shopping malls accept Bitcoin.It accepts Bitcoin as payment at truly untrusted retail stores. Actually there is nothing to surprise us with Bitcoin now. Bitcoin is getting easier day by day and Bitcoin demand is increasing in workplaces. Since his cousin knows well about Bitcoin, must have given him good advice about it which is why he took such initiative.We also want our country to accept Bitcoin like this, and people can transact easily.

Vinaa77

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Actually this is a good step, and a good appreciation for your neighbors who are interested in telling about Bitcoin to the surrounding community where this option is rarely used by retail store business owners, maybe one of the positive impacts in this way is Bitcoin. will grow around you faster, and we hope some other places or countries are already able to implement this payment Option in their business.

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Quote from: nakamura12 on June 07, 2023, 09:14:09 AM

That's good when you have a neighbor who also know about Bitcoin where you guys can share or ask questions if you need it. Unlike mine where the only one I know is he is the one I told about Bitcoin and I am also the one who taught him how Bitcoin works and also how this forum works. It's not that I don't want to teach him what I know but I think it would be helpful for me when I know someone who use Bitcoin as a mode of payment.

That means you become a spreader of Bitcoin knowledge and awareness that Bitcoin will provide better benefits for your neighbors or people near you.
You become a teacher who teaches how Bitcoin works and even tells about this forum.

But about how someone makes Bitcoin payments, it depends on how Bitcoin regulations are applied in your country.

Quote from: bangjoe on June 07, 2023, 09:33:03 AM

-snip-
The thing that needs to be said here is also, whether using Bitcoin is not prohibited in his country, because most of what I know is that only a small number of countries allow payment tools with Bitcoin. If there is a prohibition in my opinion it is dangerous because it violates, and can be hit by punishment and damage his business that has been built so far.

Like in my country Indonesia, things like this will certainly be prohibited because Bitcoin is only getting regulation as a commodity asset, not allowed to be used as a means of payment. If that is done it will violate the law.

I just hope to meet someone who is a user and enthusiast crypto .

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Quote from: un_rank on June 07, 2023, 01:41:20 AM

Good for your neighbor, you can ask them if they did their research before setting up their bitcoin payment option and if a single customer would be enough to keep such payment option up considering they would be paying fees to withdraw the bitcoin to your local currency.
Or if they plan to hodl the bitcoins gotten.

- Jay -

Yes, of course, has a fairly expensive cost at this time, especially today the transaction is fairly expensive for purchases in small amounts in such a business, unless it has a large value in purchases, I don't think it becomes a problem. Logically in the case of the progress of my business profits, my business is effective, but if the goal is to educate it certainly will not be a problem.
The thing that needs to be said here is also, whether using Bitcoin is not prohibited in his country, because most of what I know is that only a small number of countries allow payment tools with Bitcoin. If there is a prohibition in my opinion it is dangerous because it violates, and can be hit by punishment and damage his business that has been built so far.

If so the OP provides advice only to be made an alternative investment or diversification of income on bitcoin.
If there is no ban, it is a very fositive news and must be continued.

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