I was shocked that my Neighbor also used bitcoin as mode of payment - page 3.

Nrcewker

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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.

Yes mate, whenever possible educate what you know to the other people. It’s great to see that the shopkeeper is bold enough to accepting payment with Bitcoins. I just want to know, how he is managing the payments at first? If he plans to hold those coins for some time, then definitely he might make more profits from it. He also can encourage more customers to pay through Bitcoins, if he promises them for a cashback to each payment done with Bitcoins. Keep us updated mate, how many payments he received.

nakamura12

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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.

kryptqnick

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It's wonderful when there are small businesses owned by people living nearby, and when such places accept Bitcoin. Since you know the person and the shop, can you share how the payments actually happen? I mean, if it's on-chain transactions, it takes around 10 minutes to get 1 confirmation if one paid enough in fees, which is a while to wait in a shop. Also, canned goods and stuff don't cost a lot of money, so BTC transaction fee can be pretty big compared to the total amount. Or is it a centralized solution? If so, which one, and does it work well?

RockBell

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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.

Your neighbor is attempting to create something novel he rejects conventional payment methods in favor of bitcoin, which is both a good way for him to amass more money and a fresh approach to promote bitcoin. When the new currency arrived in my region and the government was attempting to adopt the cashless policy, many banks were having serious problems. It appeared as though there saver is always breaking down, so I feel we need to be in the future like your friend. The transaction network of bitcoin is superior to that of the banks, which has network issues and many defaults. Kudos to your friend.

Rruchi man

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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.

Two things;
- There are many people around you who are either into bitcoins or interested in bitcoins around you. Some people are not very open about it.

- Even though it is good that you have told your neighbour to ask you questions if he has any, it would be better if he helped him to learn how to get verified information for themselves. You may not be accessible tomorrow, so it is important he knows how to do things himself.

KiaKia

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Looks like a made-up story, who are those paying your neighbor in Bitcoin? Is Bitcoin that cheap to use for buying such low cost things like candies and coconut? That 2$ on gas fee is enough to buy coconut and candies and still have some dollars left, It makes no sense to pay someone in Bitcoin using transaction fee that's not suited for what they are buying.

Are you also accepting Bitcoin as means of payment in your business? What makes this neighbor start accepting Bitcoin too? I expected you to say you are also accepting Bitcoin as payment and if anyone must follow your footsteps, the acceptance of Bitcoin must come with benefits, enough to make someone want to copy you.

Sorry OP, I'm going pass on this story, it makes no sense.

Smack That Ace

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With the development of bitcoin, I think around us, there are many people using and investing in bitcoin that we don't even know. Because many people like privacy and don't want to be bothered even though bitcoin has been accepted in many places. In my area, I hardly know anyone investing in bitcoin, but once I happened to know that a few people were investing in bitcoin through their relatives. But because they want to keep their privacy, they don't want to admit it.

ringgo96

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Do not be surprised if currently many stores have accepted Bitcoin as a means of making payments for the goods they sell, and this has been growing because Bitcoin has been very popular among the public and many people already have Bitcoin so it is easy to make payments using Bitcoin, so you should not be surprised if your neighbor has done this and you must support so that he can receive many customers who do Payment using Bitcoin.

Luzin

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Quote from: Ojima-ojo on June 07, 2023, 07:33:53 AM

Yeah me either, i fine it hard to belive this story because it lack substantial value and content for physical analyses and i am sure quite a good number of another forum user will share the same opinion about the thread.

But if ops can go further to provide some form of evidence to support the claim, even if it may not lead us to the authenticity of the story but at least it may serve as a pointer to where we are going.

As long as I know Bitcoin, I have never used it as a buying transaction tool. This is because my country prohibits that and maybe I could break the law if I did that. Quite happy if in the future Bitcoin can become an official transaction tool in my country. But it seems impossible.

I'm already very happy with the current state of crypto. Bitcoin crypto is recognized as an asset in my country. Although none of my close neighbors use Bitcoin or crypto as assets. Because I still live in a village with royal favorites providing services or production such as farming, servants, selling basic necessities, fishermen. So Bitcoin around my area is still like foreign goods.

isaac_clarke22

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

However, if you also want to teach, don't advise him, as he said his cousin did instead and explained the risks involved. As a result, I believe it is now your duty to teach him how the bitcoin market functions, as you also want your neighbor to be a bitcoiner in your neighborhood.

......Or just put an asterisk to each advise you mentioned. This is usually what I do when I tell my friends about my story using Bitcoin. I am not responsible to where s/he uses her/his money and the volatility of the market. Surely they're intelligent enough to know that volatile market is out of anyone's control. Grin

On the other side, I could just tell that I use Bitcoin for storing my money instead of using banks and then it's up to him/her whether s/he would use it for investment purposes.

Quote from: Wildwest on June 07, 2023, 07:43:00 AM

Bitcoin payments in a store where we shop are certainly very rare to find even though Bitcoin is now very popular among the public, so you should be proud of neighbors who have used Bitcoin as a means of payment for goods at the store, and those of you who already have Bitcoin may be able to make transactions to increase the enthusiasm of your neighbors that Bitcoin is indeed worthy of being used as legal tender, So with the transactions that occur, other people will also be interested in learning about Bitcoin and they will definitely want to make payments using Bitcoin.

Quite rare here also in my area, but people are aware and somehow knowledgeable for a bit about Bitcoin. Though since most of the people here in my area are money-diggers, they're interested more in earning part rather than the storage of money part.

Wildwest

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Bitcoin payments in a store where we shop are certainly very rare to find even though Bitcoin is now very popular among the public, so you should be proud of neighbors who have used Bitcoin as a means of payment for goods at the store, and those of you who already have Bitcoin may be able to make transactions to increase the enthusiasm of your neighbors that Bitcoin is indeed worthy of being used as legal tender, So with the transactions that occur, other people will also be interested in learning about Bitcoin and they will definitely want to make payments using Bitcoin.

Ojima-ojo

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Quote from: EFS on June 07, 2023, 05:20:03 AM

Good one if it's real. No offense but there are some made up stories. I would be surprised if I saw something like that too. We used to support stores like that but now unfortunately Turkish law forbid to use Bitcoin and other crypto-currencies as payment option. It's okay to trade Bitcoin but it's forbidden to use it as money, that's funny.

Yeah me either, i fine it hard to belive this story because it lack substantial value and content for physical analyses and i am sure quite a good number of another forum user will share the same opinion about the thread.

But if ops can go further to provide some form of evidence to support the claim, even if it may not lead us to the authenticity of the story but at least it may serve as a pointer to where we are going.

wahyuagung26

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That's an interesting thing, using the Bitcoin payment option makes Bitcoin's performance so far not in vain in the sense that at least they can find out the use of Bitcoin other than investing, and from the options that have been used by your neighbor, it is clear that he is someone who likes Bitcoin. and what's interesting is that he didn't know that bitcoin was spreading around him, and this is good for someone's introduction.

and here he got a glimpse of Bitcoin from his cousin who probably didn't teach him fully, sounds from the story he just introduced the basics to him, and maybe now you will teach him about the mechanics of Bitcoin which is better in Options, and this is the interesting thing I think. keep teaching him if you wish the people around will fully understand Bitcoin in their life, maybe they will become like his cousin or at least they will see great opportunities in the future.

Agbe

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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.

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

Exactly. And I don't think at this time of the high fee transaction retail stores accept bitcoin for payment of goods. The story is... The write up might be there to say "We/I accept Bitcoin Here" but who will buy something in which the transaction fee is even higher than the normal amount money that you will use to buy the goods. Even the seller won't resell those accept coins because of low price of bitcoin at the moment and high transaction fee. One thing we have to know here is that money is for business and business money is for buying and selling of goods and not for stock. So how will the labour do to buy new goods? I have such stories but I have not been move to share mine.

komisariatku

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I think this is a great innovation, But sorry, this is not the right place to apply bitcoin as a means of payment. Costs will be more expensive than the goods purchased, it is not a solution, but a new problem.

I'm afraid that people see bitcoin transaction fees to be so expensive and that it's illogical. Bitcoin will not be effective for shopping for goods worth $ 1 - $ 100. bitcoins are effectively used for shopping payments at prices over $1000

I think putting bitcoin as payment in your neighbor's shop is not quite right. I like the innovation, but not to be applied in your neighbor's shop

yazher

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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.

Blitzboy

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So, your local Sari-Sari just took a quantum leap into the crypto cosmos? That's an exemplar of progressive thought! Your neighbour seems to be adroitly maneuvering the intricacies of unknown, stepping boldly into the futuristic unknown, one Bitcoin handshake at a time. There's a certain allure to the spectacle of a modest convenience store accepting BTC, wouldn't you agree? His decision to school his youngsters about Bitcoin? An unambiguous A+. The crux is to inoculate the young ones with the nitty-gritty of digital currencies at the earliest, to brace them for the looming future. Who's to say, maybe these sprouts will sprout into formidable crypto mavens someday!

Moving on to the clientele. Sure, the crypto enthusiasts form a tight-knit community as of now. But ponder this - every crypto investor who chances upon your neighbour's outlet will be on cloud nine. Similar ecstasy will echo among the netizens once news breaks about this local, small-scale hub embracing BTC. This has the potential to set the internet ablaze, trust me! Let's not downplay the PR potential either! It's a riveting tale begging to be unearthed by the media. Envision the buzzworthy headlines - "Tiny Sari-Sari store rides the Bitcoin wave." Sounds slick, doesn't it?

Onset

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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.

It only hurts new customers who set up a Bitcoin wallet just to pay at the store. Or anyone asking about the new pyment method perhaps, because then they’ll find out fees are large so in their mind from then on it’ll be “Bitcoin is expensive to use”.

For the time being, accepting Bitcoin in a store is actually likely the best time to do it. You don’t want to gather Bitcoin earnings during price peaks, right now it’s pretty much an investment if you accept it in your store! Anyway, how many people do you think will actually pay using Bitcoin? It still isn’t a popular choice in my opinion..

shivansps

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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.

Nice story
Maybe he added this payment method more as a joke, cause there will be some problem to use bitcoin in usual shop as a payment
For retail, this is not the best way to calculate. If I want to buy a bread for example, I have to pay half of its price. We need to wait some minutes and it's just for one bread brick.
This method is good for paying attention to this store. People will discuss this store. We're now talking about this man and his store from many kilometers away from him. Probably he never not sell anything using bitcoin, but it was good advertising

Reid

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Great. How I wish people could be as open-minded as that guy you talked about. Even though it's just a small store, it doesn't matter. Bitcoin is currency and it can be used as means of payment for anything.
This must also be a tough time with all the Bitcoin transaction speed and expensive fees. His customers won't be able to pay him directly as they might regret the $2-5 fees just so it could enter faster. I have a transaction earlier and it's still not confirmed for 12 hours, that's a dollar fee only because I just want to try how slow the transaction are now.
I hope this problem can soon be fixed for those small shops to accept Bitcoin again without trouble.

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