Topic: I was shocked that my Neighbor also used bitcoin as mode of payment - page 4. (Read 494 times)
June 07, 2023, 06:31:16 AM
It's wonderful to discover a store that accepts Bitcoin as payment for their goods. If it was me, I would do the same thing. I'll spend time talking with him about how he discovered Bitcoin and why he accepted Bitcoin as payment. You are aware that some users find Bitcoin difficult to utilize because of its scalability and high fees. His response would undoubtedly motivate me. If the store owner is unaware of the Lightning Network, I am willing to educate him so that consumers would use Bitcoin as payment at their store and other stores.
June 07, 2023, 06:21:55 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.
Using LN would make more sense, but you would have to open a channel with each customer, so neither.
While there will be very few payments, the seller may well not wait for confirmation from the network. It is enough to see that the transaction is in the mempool, that the fee looks reasonable, and that no RBF has been used. Of course the risks remain, but for small amounts and infrequent purchases these are small risks, and the attractiveness of the store increases, as well as more bitcoin advertising, which is good.
June 07, 2023, 06:20:03 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.
June 07, 2023, 06:14:37 AM
Great story, I will keep aside the part whether it is true or not but taking Bitcoin payments on a grocery store like your neighbor maybe not suitable. There are difficulty in small payments with bitcoin, his customers have to pay extra fees for the purchase and wait for the confirmation of transaction which I don't think no one is going to do. You said you were there to buy some stuff, but did you pay with bitcoin or you paid with cash? Forget to mention this part.
June 07, 2023, 06:11:32 AM
It's great to know that you have a neighbor who's also engaged in Bitcoin and at the same time, it promotes Bitcoin with their sign saying the accept Bitcoin as payment but on the other hand, who will buy small quantity of goods with small amount and will use Bitcoin as a payment? I will understand if the business have bigger price but not a sari-sari store.
Probably, even if he'll accept Bitcoin, the sign will just be a design in his store since I doubt anyone will prefer to use Bitcoin payment. But it was still a nice initiative of him. Also, your neighbor is open to teach his children about Bitcoin so it's good.
Probably, even if he'll accept Bitcoin, the sign will just be a design in his store since I doubt anyone will prefer to use Bitcoin payment. But it was still a nice initiative of him. Also, your neighbor is open to teach his children about Bitcoin so it's good.
June 07, 2023, 05:51:03 AM
That is really nice, but my question is, can your neighbor pick up the fees? I mean, it is really a small store, and transacting a small amount is really not a good idea unless the customer purchases a ton of goods, but again, it is a really good initiative, and now you can pay him in bitcoin, or in the morning you can talk to him about bitcoin. It is just weird that his cousin is making a living in trading and then he accepts payment in bitcoin because if I were him, I would ask my cousin to teach me trading as a side hustle.
June 07, 2023, 05:31:54 AM
There's always someone interested with Bitcoin in every region regardless it's developed, undeveloped, small, big, restrict Bitcoin or completely accept Bitcoin.
Using Bitcoin in real life or knowing someone use Bitcoin in your country aren't dangerous, but the problem in your story is your neighbor know you're use Bitcoin, your neighbor know your house and it's dangerous for your security.
Many cases of robbery and any criminal thing were caused by neighbor which already know when you leave your house, who's live in your house, when your house is empty etc.
Using Bitcoin in real life or knowing someone use Bitcoin in your country aren't dangerous, but the problem in your story is your neighbor know you're use Bitcoin, your neighbor know your house and it's dangerous for your security.
Many cases of robbery and any criminal thing were caused by neighbor which already know when you leave your house, who's live in your house, when your house is empty etc.
June 07, 2023, 05:21:23 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 $10 worth of items in the store why should I have to wait ten minutes on average and pay a 20% fee if paying with cash I don't pay fees and I don't have to wait.
Using LN would make more sense, but you would have to open a channel with each customer, so neither.
Finally, someone sees the way I see using Bitcoin as means of payment, it doesn't make sense to buy something you can eat using 1$ or more as transaction fee, how much is the thing you trying to pay for? It's not just worth it.Using LN would make more sense, but you would have to open a channel with each customer, so neither.
I prefer using Bitcoin as means of payment if what I am trying to pay for is costly, like I will gladly use 2$ as a transaction fee for 200$ worth of anything, that's why accepting Bitcoin as means of payment is not for every business.
If you are selling things around 5$ to 40$ it will be hard for people to patronize you because they will set their minds on how much they will be using to pay for your goods, not cool, unless they are buying more than one or two items from you.
Presently, Bitcoin as means of payment is only good for merchants that are selling costly goods and services.
June 07, 2023, 05:16:05 AM
The fact that you meet people familiar with Bitcoin sounds very optimistic. You were surprised to meet an ally of interest, but it can be assumed that there are a lot of people like you and a neighbor in your area, but people do not want to tell the whole world about it, knowing what consequences this can lead to.
But even the fact that your neighbor will have few customers willing to pay for goods with bitcoins at this time is good because people, knowing about the alternative method, may gradually become interested in bitcoins.
We do not know what will happen in the future, but we all hope that there will be more users of Bitcoin every year and that your neighbor, in some sense, is now becoming a distributor of this idea. I think it's great.
But even the fact that your neighbor will have few customers willing to pay for goods with bitcoins at this time is good because people, knowing about the alternative method, may gradually become interested in bitcoins.
We do not know what will happen in the future, but we all hope that there will be more users of Bitcoin every year and that your neighbor, in some sense, is now becoming a distributor of this idea. I think it's great.
June 07, 2023, 05:05:41 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.
It shouldn't be funny to you. You don't need to be surprised because your neighbour receives Bitcoin as payment, it is nothing new. People are getting to know Bitcoin everyday which you don't expect them to announce it to the public. For your neighbour to make decisions of accepting bitcoin as payment that means, he already understands bitcoin and have a good reason for the new means of payment which will be beneficial to him and his business. Don't get surprise when you discover people who are close to you deal with bitcoin, people are getting more awareness of it.
Perhaps what the OP meant is that he find it quite funny,and that he is surprised because he doesn't think that his neighbors are into bitcoin. And his curiosity, he asked the owner and that's how everything started the conservation and that's where the OP offer his help.
And we understand that crypto or bitcoin is growing in every country. With that, maybe in the next couple of years we might see just ordinary business having a "bitcoin logo accepted here" and obviously it will be great for adoption.
June 07, 2023, 04:46:19 AM
It's a good advice and she had the opportunity to get more customers who will be willing to make payment with bitcoin within her location, try to encourage her the more to learn how this could also be profitable to her and her business, just as suggested by previous replies that she can also make decision on the use of bitcoin lightning network provided that if she's having more customers coming and interested to make payment in bitcoin, it will be an opportunity for her to use her savings or asset realized also doubled as an investment which could yield more funds when the market rise.
June 07, 2023, 04:26:31 AM
Sound good to hear that your neighbour accepts Bitcoin as payment in the retail store, but with all due respect this story is not enough to create a thread for it I guess there are several threads here in the forum where you can share your story and also receive the necessary attention.
If you could story writing, gunhell16 can tell his story.Pay for coffee with Bitcoin .
We need more stories to have more Bitcoin adoption.
How does he intend to manage the fees on small goods and who pays for the blockchain fees while using it in the store to pay for the goods?
Lightning Network.Electrum Lightning Network walkthrough
June 07, 2023, 04:23:33 AM
~snip
Small shops accepting bitcoin as payment as your neighbor is unlikely to have any effect on the cryptocurrency industry. Even if it will be dozens or hundreds of similar shops. I also have doubts that at least someone other than you will pay with a bitcoin at least once in this store for purchases. Despite the negative forecasts, there are still positive moments in this. An important point is that in such stores there is an alternative to traditional money. The more such stores and places there are, the more beneficial it will be for the entire bitcoin chain. But I still believe that for efficiency bitcoin should include big chain stores in the payment method. That's when it really takes a leap forward. And what is happening in your region is nothing more than an inconspicuous trifle on a global scale. 
June 07, 2023, 04:12:10 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.
Good to hear that, I haven't heard any "sari-sari" store near my place that accepts bitcoin as payment method. Maybe your neighbor really knows how good bitcoin is, although it might be a struggle for him because of the price fluctuation and volatility, and hopefully he/she will not sell on a lost specially if he needs to sell to cover up expenses in his store and sort of keep his business as he needs to buy needed items to be sold in his store. So that's only my concern to the store owner, nevertheless its a bold move on his/her part as usually Gcash is the universally accepted in the Philippines. But this proves why Philippines, is the,
https://www.bworldonline.com/infographics/2022/10/24/482406/philippines-places-2nd-in-the-global-crypto-adoption-index/
June 07, 2023, 04:11:28 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 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.
This is surprising if your country didn't have any foot tracks of users using crypto. But if many already used crypto to your nearest neighborhood then its expected that adding bitcoin as payment method will gonna happen. But still this good news to be heard since for making this to happen it open other door to your nearest merchant to follow the same since they can create a little discussion about what they do. And this is free marketing especially when many talk about bitcoin and merchants accepting this.
June 07, 2023, 04:01:44 AM
Nowadays, if I see even a child talking or some young people making use of Bitcoin, I will never be shocked because I believe that Bitcoin is not a new word to the world because the word has reached many ears due to the spread of Bitcoin news in different social media. Almost no one will login to his or her site without finding news about Bitcoin, but the only problem is that many of them don't want to learn, and that is the reason why the rate of adoption is not up to our expectations.
Your neighbor's decision to accept Bitcoin as an alternative payment in his shop will follow good rules in bitcoin adoption because this is the type of thing that attracts the intention of customers who are not willing to learn about Bitcoin at first but founding thing in this ways may make think to learn about it faster. Many customers who have heard about Bitcoin and think that is a ponzi scheme or a scam will be able to learn and understand more about it once they discover that they are using Bitcoin as payment and accepting it at a nearby store.
June 07, 2023, 03:11:26 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.
It shouldn't be funny to you. You don't need to be surprised because your neighbour receives Bitcoin as payment, it is nothing new. People are getting to know Bitcoin everyday which you don't expect them to announce it to the public. For your neighbour to make decisions of accepting bitcoin as payment that means, he already understands bitcoin and have a good reason for the new means of payment which will be beneficial to him and his business. Don't get surprise when you discover people who are close to you deal with bitcoin, people are getting more awareness of it.
June 07, 2023, 03:09:59 AM
It's a good thing, your neighbor did. And it's great to see small business embracing an other payment option to their customers. By doing this, he is not only catering to customers who actively use Bitcoin, but also promoting awareness and adoption of digital currencies in your local area.
Even though people don't pay or purchase goods from his store using Bitcoin because of the high cost of transaction fee, I think he has actually helped a lot way in promoting Bitcoin adoption. Even a passer-by would be interested in knowing what bitcoin is about. And I think that if more ideas like this is promoted, that is Bitcoin flyers and bill boards are made available in our local areas, it would also go a long way in promoting Bitcoin adoption.
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.
Using LN would make more sense, but you would have to open a channel with each customer, so neither.
Even though people don't pay or purchase goods from his store using Bitcoin because of the high cost of transaction fee, I think he has actually helped a lot way in promoting Bitcoin adoption. Even a passer-by would be interested in knowing what bitcoin is about. And I think that if more ideas like this is promoted, that is Bitcoin flyers and bill boards are made available in our local areas, it would also go a long way in promoting Bitcoin adoption.
June 07, 2023, 03:03:11 AM
Let's say his neighbor did not have a single customer who would pay him using Bitcoin. I would still appreciate his initiative. I will encourage other businesses to accept Bitcoin whether they have a customer for it or not. If I see a store accepting Bitcoin for the day, I may see it, smile and walk away because I might not need anything to buy from that store. Let's say I may need something to buy after a week, and I will prefer that shop because I saw they accept Bitcoin. Poker player has a point, BTW. The current transaction fee is too high for small transactions!
For Lightning, they may consider using Blue Wallet.
For Lightning, they may consider using Blue Wallet.
June 07, 2023, 03:00:09 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.
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.
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.
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.
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