India's small merchants accepts bitcoin - page 2.

olubams

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Quote from: Mandoy on June 23, 2017, 03:06:02 AM

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

This is something expected to happen in successive and even massively since government is coming out with a position to the favor of bitcoin. Accepting it before government position is not illegal from the way I see it since it has not been declared illegal only that government does not have a position that she is going with and that's where the small merchant exploited but today and in the next few days, the risk has paved of.

Sniper44

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Quote from: pedrog on June 23, 2017, 03:56:36 AM

No one is going to pay in bitcoin, transaction fee will make the price of meals double or more, and if the fee isn't quite right will he let the costumer leave without confirmation, or the client need to stay there for 48 hours waiting for confirmation?

With many low value transactions when the merchant tries to cash out bitcoins he will need to pay a very high fee to do so and his profits are wipe out.

It's just a marketing stunt, merchants have been doing this since 2012, don't know why people still pay attention to it, bitcoin isn't suitable for IRL use.

i don't think so the high fees and double spend worries are only for users on the forum and social media. i have seen that in the real world merchants are not worried about these things and those who want to spend bitcoin will do it without concerning themselves about paying a $1.8 fee for a high priority transaction versus using their credit card and ending up paying a much higher fee.

niisarearning

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Its really good move but bitcoin till now not treated as currency still it is investing asset as far as my friends and other crypto enthusiasts will be speculating about future under the line of 5 or ten years and they keep storing it .

pedrog

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No one is going to pay in bitcoin, transaction fee will make the price of meals double or more, and if the fee isn't quite right will he let the costumer leave without confirmation, or the client need to stay there for 48 hours waiting for confirmation?

With many low value transactions when the merchant tries to cash out bitcoins he will need to pay a very high fee to do so and his profits are wipe out.

It's just a marketing stunt, merchants have been doing this since 2012, don't know why people still pay attention to it, bitcoin isn't suitable for IRL use.

Juggy777

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Activity: 2646

Merit: 686

Quote from: Mandoy on June 23, 2017, 03:06:02 AM

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

Great to hear this, south India was on my trip list and will make a stop at this hotel to eat and pay here, I actually want to travel the world and Just pay with Bitcoins. If these merchants do accept it, it will help me a lot, send my friends gift from abroad and pay with Bitcoin, it's irritating to pay them via bank transfer and paypal acts weird most of the times. So this is good news for me staying abroad and for my Indian friends when will the confirmation come?

Guvn0r

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Activity: 647

Merit: 274

Great move..this ll clear the air of any unnecessary doubts and all that stuff.. If ordinary people like us starts to get involved and build a community, then I guess that will be a solid foundation for BTC in India.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

this is why i believe regulations are going to be good for bitcoin. it simply leads to a lot of real adoption. and we have already seen it with Japan and how their regulations led to many merchants accepting bitcoin. and the same will be true about other countries.

Mandoy

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Activity: 644

Merit: 264

Aurox

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

Topic: India's small merchants accepts bitcoin - page 2. (Read 780 times)