Increasing acceptance level - Cryptocurrency - page 3.

Kimberl2020

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Quote from: LoyceV on August 05, 2021, 04:02:41 AM

Quote from: Kimberl2020 on August 05, 2021, 01:58:03 AM

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is.
~
Finally, I removed the cryptocurrency payment method.

Depending on your shop's location, it might work to promote it online. There are several websites that show local shops that accept Bitcoin on a map. If there's a popular site that covers your location, new customers will find you because you accept crypto, instead of trying to "convert" existing customers.

At that time, I also tried to advertise in the online shop, but unfortunately I was quickly asked to remove the advertisement because the policy did not allow it.

valentine wheeler

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Quote from: Vaskiy on August 04, 2021, 11:43:29 AM

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

India’s demand for cryptocurrencies is because of the need to reduce remittance fees, and high transaction costs have forced Indians to find other ways.Since the beginning of the coronavirus pandemic, the price of the Indian rupee has fallen by about 7%. Indians need a more stable currency to store value。As the advantages of cryptocurrency in payment and stability become more and more obvious, more countries will definitely adopt cryptocurrency for payment.

Oceat

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Quote from: TelolettOm on August 05, 2021, 05:50:52 PM

Is cryptocurrency legal in India? Or it is legal for payment method?
If so, this is very good news because so far, India has always planned to ban crypto and the regulation is not allowing crypto. But if it is a new regulation decided, it is very nice to see this. Many more countries can accept crypto moreover as payment will be great enough.
However, I am actually confused about the mechanism of paying with crypto in that transportation. Do they transfer before taking the transportation? Or what kind of mechanism. I am so curious. It should need a fast and quick transaction and also what's about the cost?

So far, the Indian government hasn't been successful of banning Bitcoin and other cryptocurrency yet although it is not illegal on their country but it was unregulated that's why the Indian government are doing something to propose a regulations upon using cryptocurrency.
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#South_Asia

I myself too is wondering how they would accept crypto currency and I wonder if it is Bitcoin or Ethereum? How about the transaction fees? A lot of questions popping up here if we talk about accepting Bitcoin but maybe they have their own way such as the restaurant/coffee shop in other countries using a machine to scan and pay using Bitcoin.

TelolettOm

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Is cryptocurrency legal in India? Or it is legal for payment method?
If so, this is very good news because so far, India has always planned to ban crypto and the regulation is not allowing crypto. But if it is a new regulation decided, it is very nice to see this. Many more countries can accept crypto moreover as payment will be great enough.
However, I am actually confused about the mechanism of paying with crypto in that transportation. Do they transfer before taking the transportation? Or what kind of mechanism. I am so curious. It should need a fast and quick transaction and also what's about the cost?

DarkDays

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Quote from: avikz on August 04, 2021, 11:53:13 AM

I believe it's in Bengaluru. Is it a decision taken by the local Auto Union? Because the sign-board says "we" instead of "I". Any Autowala can accept cryptos as per their own will but I am little skeptical how this transaction will work. Did you try paying through cryptos?

I agree that this scale of transaction is great news for adoption but the logistic of actually paying might paint the picture a little different.

I'm not sure if this payment is as it says because of the nature of the transaction - I suppose a sophisticated plan much like that of Uber isn't in place - so, I agree that we need more details on how this actually works if even practical.

Rruchi man

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Whether this is true or not, it is a good and positive thing for Bitcoin and cryptocurrencies in general. First, the average Joe now has some good idea about Bitcoin and cryptocurrencies. Second, folks now believe in the future of this digital asset for massive wealth creation. On the other hand, if this isn't true, then at least we have seen that it is possible that these guys can someday accept payments in Bitcoin in exchange for transport services offered. We can begin to think about building a structure around it that will service these folks who are at the lower echelons of society

Welsh

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Quote from: Kimberl2020 on August 05, 2021, 01:58:03 AM

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is. Some interested will ask, I also have to teach him how to buy it on the exchange and then how to transfer it to me. This wastes a lot of time.

In a month, no stranger pays with cryptocurrency except for a friend who understands Bitcoin. He used Biance's C2C function to transfer me a 200USDT bill. Finally, I removed the cryptocurrency payment method.

It takes a long time to promote cryptocurrency payments.

I've said this in the past, at its current state Bitcoin isn't exactly beginner friendly, and while there has been leaps, and bounds of progress on making it easier for users to use it as a currency, its no where near the level it is required to be at if we want mainstream adoption to occur.

Even wallet software probably needs to be improved, its too complex for the average user that isn't computer literate, and doesn't know too much about Bitcoin. I actually think making Bitcoin more intuitive, and therefore easier to use will over come most of our issues when it comes to adoption.

Btcvilla

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it can be easy for us to do with no more prohibitions that occur in various countries.then it will be very easy for us to do, especially in trading carried out in the world of crypto currency so as to make the crypto world so much more flexible to develop this business to all corners of the world so that it can be easily accepted by any group who will invest in the crypto world

Dewi Aries

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In my country, anything other than fiat is already ilegalized to be as payment. For adoption or maybe acceptance level, we need something bigger like companies which accept bitcoin because maybe p2p only wouldn't really give big effect for it. But in my country it will be very hard, even a site that selling digital product like to help people pay something and we can pay them with crypto, already closed.

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Quote from: Kimberl2020 on August 05, 2021, 01:58:03 AM

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is. Some interested will ask, I also have to teach him how to buy it on the exchange and then how to transfer it to me. This wastes a lot of time.

In a month, no stranger pays with cryptocurrency except for a friend who understands Bitcoin. He used Biance's C2C function to transfer me a 200USDT bill. Finally, I removed the cryptocurrency payment method.

It takes a long time to promote cryptocurrency payments.

It is not easy to promote cryptocurrency in an environment where people are not familiar with crypto and some other modern payment platforms. If your country legalizes the use of cryptocurrency as payment, I think you should proceed to accept cryptocurrency payments. Apart from being another option for payment, people will be more familiar and interested so that they will continue to use it someday.

The country that is currently studying the use of cryptocurrencies is El Salvador, which makes its people able to use bitcoin as a legal means of payment.

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Quote from: Vaskiy on August 04, 2021, 11:43:29 AM

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.
-snip-

How is this going to work? Don't see any address or code to scan so they can send the payment. What about the fees associated with the transaction? Are they going to wait till there is one network confirmation? What about the fees? What if the guy sends a very small fee. This means its going to take forever for the confirmation to take place. And the poor guy might become a victim of the market volatility. Is it just this one guy or is everyone doing the same over there?

Tigerheart3026

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its a good adoption way of btc in india. i excited to know that only this rickshaw puller is accepted btc individually? or
is it being accepted crypto at the decision of the organization of this rickshaw puller community where with he is associated?
in india btc isn’t legal yet btw many big companies launched lot of projects. wazrix is the big crypto exchange here.

bosede1

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It is glad to see people in the transportation setting accepting bitcoin as a means of payment from the passenger, with time I know it will cut across other developing and developed countries.

cabron

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Quote from: Kimberl2020 on August 05, 2021, 01:58:03 AM

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is. Some interested will ask, I also have to teach him how to buy it on the exchange and then how to transfer it to me. This wastes a lot of time.

In a month, no stranger pays with cryptocurrency except for a friend who understands Bitcoin. He used Biance's C2C function to transfer me a 200USDT bill. Finally, I removed the cryptocurrency payment method.

It takes a long time to promote cryptocurrency payments.

Thats frustrating, it only shows less people are aware of crypcocurrencies.
It would be easier if therenis a payment method like remittance app in the country that starts adopting BTC as well which you don't have to demonstrate what cryptocurrency is if anyone askz what cryptocurrency is.

Do you feel good whenever someone ask and you taught them well about BITCOIN? If YES then just let it stay and continue displaying it.

kryptqnick

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Is it a personal initiative of one driver, or is it on a level of a company/business? I just want to understand the scale of this, especially given what's been pointed out about India's hostile stance toward cryptos. I also wonder how they accept cryptos, and which cryptos. Is it via some payment processor, or is it via direct blockchain transactions from one wallet to another? And what about the fees and the time it takes for a transaction to get at least one confirmation? There are many questions that arise here, and it would be lovely if op could comment on them.

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Quote from: Kimberl2020 on August 05, 2021, 01:58:03 AM

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is. Some interested will ask, I also have to teach him how to buy it on the exchange and then how to transfer it to me. This wastes a lot of time.

In a month, no stranger pays with cryptocurrency except for a friend who understands Bitcoin. He used Biance's C2C function to transfer me a 200USDT bill. Finally, I removed the cryptocurrency payment method.

It takes a long time to promote cryptocurrency payments.

I totally get the frustration. But why not leave it in? It's not like the sign was harming your business or something. Yes, you're not getting the results you wanted specifically(receive cryptocurrencies), but think of it this way: because of your sign, other people get interested in this space. Which is still a win in the end!

michellee

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Quote from: Kong Hey Pakboy on August 05, 2021, 05:53:57 AM

Quote from: john_nautica on August 05, 2021, 05:49:56 AM

That's nice, it looks like it just really needs some time before people will be able to accept cryptocurrency and also this might be a good advertising as well, some people who are not familiar with cryptocurrency would be able to get curious and probably do their own research on what cryptocurrency is. Let's hope that more and more people would be able to accept cryptocurrency as a mode of payment.

Totally agree, if everything goes the way it is right now for cryptocurrency, then time will be on our side but the only problem that we have to solve is that we have to continuously improve the network for the biggest cryptocurrency in the market because if it can't keep up with the demand, we only see new people not being impressed with it because of how slow it is.

It says clearly in the photo that he accepts crypto. That means his customer can pay anything inside crypto and not just pay using bitcoin. People aware of crypto will try to use bitcoin or other coins to see which one has a fast confirming transaction if the bitcoin network is busy or which coin does not need to pay a high fee. If that can become popular among the other services, people will start to adopt crypto and use it for other payment systems besides fiat money.

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Quote from: pooya87 on August 05, 2021, 12:17:58 AM

There is no limit to what you use lightning network for and since many of the altcoins are copies of bitcoin they too support lightning network of their own. There is no centralization in bitcoin either so any transaction whether on-chain or on second layer would require a regular confirmation from any miner who picks up the transaction.

It was a kind of sarcasm about the difficulty of opening and closing payment channels, due to the peculiarity of the fact that making regular payments between the driver and passengers is impossible, (although, I confess, I was not interested in whether altcoins support their own Lightning networks). The same goes for bitcoin transactions ... I answered this absurd idea in the spirit of the idea itself, because even if you ignore the transaction confirmation time, there is still an insurmountable barrier in the form of an extremely low cost of travel, which is almost identical to transaction costs.

AicecreaME

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Quote from: Vaskiy on August 04, 2021, 11:43:29 AM

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

Cryptocurrency adoption, in general, is a good thing because it promotes wider scope of establishments to be used our cryptocurrencies with. It will benefit the crypto community because the users will have a lot of options to use their funds aside from making it a store of value and in trading. However, the services offered must be improved first. Most of us know already that the processing time isn't instant. It takes several minutes for a transaction to be processed and reflected which may cause a slight inconvenience most especially if you are making the transaction in a hurry. In addition, the transaction fees are a little higher compared to the traditional payment methods. Acceptance of cryptocurrency will be pointless if there would be many inconveniences that will come along with it. I just hope in the next few months there will be positive changes regarding this matter so that we can promote it to more people without worrying about making another burden to them the moment they decide to use it on daily basis.

CaVO32

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Quote from: ene1980 on August 05, 2021, 07:37:16 AM

A Tuk Tuk driver accepting cryptcurrencies, that is a whole new level of adoption and that too in India which is believe is a common mode of transportation. It is funny at the same time a huge promotion for anyone who is not aware of the market.

@OP did you click this pic and if so did you talk with him and what all cryptocurrency he is accepting and did he get anyone who paid with cryptocurrencies.

Would be hard if you are just for short stop. Bitcoin confirmation may take some time. Unless, they are accepting TRX or XRP, which are pretty fast and cheap in transaction. But with this sign board, passengers will be aware of crypto payment, and they may search it how it can be done. And eventually, may drive for further adoption. They may ignore at the first look, but at some point, they will search it, for some curious people.

Topic: Increasing acceptance level - Cryptocurrency - page 3. (Read 645 times)