Is it helpful or harmful to the Bitcoin to offer products/services only in BTC? - page 3.

altcoinhosting

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Quote from: dblink on July 01, 2015, 11:49:45 PM

It is too early to open a small grocery or general stores and sell the things in Bitcoin currency, still so many people unaware of the Bitcoin digital currency, even they do not know how much the exchange rates, besides that have you ever thought about fluctuation in the currency value of Bitcoin.

Just hypothetical, wouldn't BTC fluctuate less and less when more and more businesses accept it as a viable payment method?

dblink

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It is too early to open a small grocery or general stores and sell the things in Bitcoin currency, still so many people unaware of the Bitcoin digital currency, even they do not know how much the exchange rates, besides that have you ever thought about fluctuation in the currency value of Bitcoin.

HigsonPP

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Quote from: Miracal on July 01, 2015, 12:06:52 PM

. Maybe have recharge cards which hold btc value and have a recharge money which recharges their cards and puts btc in it in exchange of cash. You will be converting currency on the side too. How awesome is that?!

That's a really awesome idea, if all stores start using this sytem then maybe it really helps btcto grow and all the shops using this service also get extra money for exchanging and promoting bitcoin and they can benefit from that. All shopping malls, amusement rides, food chains could sue this system to load btc into the card in exchange of fiat and then the card can be used to spend the btc and returned when the purchasing has been finished. AWESOME IDEA.

Miracal

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My advise would be to accept all kinds of payments including hard cash and also bitcoin, do not deprive someone of buying their daily needs just because they do not have any bitcoins. Although it is a very wise idea for you to start a grocery store which only offers products in exchange of bitcoins but I am very unsure if you would be making money right away. Maybe have recharge cards which hold btc value and have a recharge money which recharges their cards and puts btc in it in exchange of cash. You will be converting currency on the side too. How awesome is that?!

DeepLee

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Obviously, you should accept both local currency and BTC.

azguard

legendary

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Crypto-News.net: News from Crypto World

Its good the more people are involved and get know to btc it will be good. Here you have services that provide payment in btc not in cash (was it dollar or euro or any other currency). So this can not be harmful only good for community.

arallmuus

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Quote from: dblink on June 28, 2015, 04:20:18 AM

do you have consumers who has knowledge about bitcoins

This is pretty much unneeded because accepting BTC doesnt mean that your business intended to target only BTC user as some people might be interested to know more about BTC the moment they see a business only accepts it as a payment form. Some people might be enthusiast enough to learn about it but it depends on what is your target customer. If your target is a 50 year old grandpa than I'd assume it will be a bad business but if it is a young teens and such then it could be a good idea.

In fact it may not be harmful to offer BTC only as a payment method but it will not be as successful as accepting both FIAT and BTC as a payment . Accepting both could be much usefull and that wont prevent people from stopping and turn away the moment they saw that it accepts BTC only

dblink

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Quote from: akiliholmes on June 25, 2015, 03:50:00 PM

I almost ready to open a small general store and I have been going back and forth with myself on rather its of more importance to make the store exclusively for Bitcoin, include the local currency as well as BTC, or if it makes a difference one way or other? Thoughts? Experiences? Suggestions?

Where you want to open a small general store, do you have consumers who has knowledge about bitcoins, there is no doubt that bitcoins has extreme value at its own and it has a very great future, however since you are going to start a new venture, start with local currency first, once you earned the decent profit from the business then from that profit, invest some on the bitcoins or include bitcoins in your venture transactions.

maheshmahi

newbie

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I dont think it is harmful but at the same time i don't think it is useful.
On today's economy not everybody has bitcoin. So it will be less used in one way or other.

mayflor2

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It is helpful for a certain part of the bitcoin community to offer their products and services only in exchange of btc but it is not so helpful for other people who do not deal in btc as they cannot complete transactions and payments through btc. It has its pros and cons i guess

1986

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From a business perspective I don't think it's good to only offer bitcoin payments but that's up to you. I'd create a store and accept as many payments options as I could including bitcoin. You would then get more customers from both sides as bitcoiners would chose your store over others because they could use their coins as opposed to the many stores where they cant and are forced to use their cash alternatives.

ObscureBean

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I don't see why you would want to offer your products in BTC only, having more payment options is always better. If you want to promote Bitcoin just make sure you have the 'Bitcoin accepted here' banner clearly visible. USD is one of the most widely used currency in the world and it's not going anywhere anytime soon, if you're running a business, it would be silly to not accept it.

altcoinhosting

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Quote from: bitbaby on June 25, 2015, 11:48:45 PM

I think it's best if you include both, but do advertise that you accept BTC and if it is possible offer people discounts if they purchase using BTC, this way you'll encourage people to use bitcoins and it might help in bitcoin adoption a little more for people who don't know of it might try to find out about it to avail some discounts.

Giving discounts to ppl using BTC makes sense in several ways: it not only helps BTC adaptation, BTC also has a much lower fee than traditional bankcards, paypal,... Only cash has a lower fee (depending on which bank you use, and how far you're located from your banks office), but less and less people actually use cash anyways...

manselr

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BTC is still too small and niche to make a business go BTC only, unless you know that your audience knows BTC. If you have a local coffee shop in the middle of somewhere you'll never encounter anyone that uses BTC. If you make it near a trendy, modern city, you'll have more chances at finding a good BTC public.
If you have an online store, it's way easier to accept BTC only and get profits, but you need to study the demographics of your location if the shop is going to be physical.

avatar_kiyoshi

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Quote from: akiliholmes on June 25, 2015, 03:50:00 PM

I almost ready to open a small general store and I have been going back and forth with myself on rather its of more importance to make the store exclusively for Bitcoin, include the local currency as well as BTC, or if it makes a difference one way or other? Thoughts? Experiences? Suggestions?

Better to use local payment and btc payment. And for the price I think use local price, not btc price, why? because bitcoin price movement.

SFR10

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Crypto Swap Exchange

I think its best if you include the most used payments on your website with the means of promoting and making Bitcoin payment your main payment but still to be able to use other payments so anyone could buy from your store

EternalWingsofGod

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It's likely more helpful to support multiple payment providers than one exclusively, while it is possible to develop a niche having a larger cut of the market would result in more people going to your site and being aware of Bitcoin.
That said in part it also depends on what products you decide to offer whether it makes sense to just use Bitcoin to save costs or add on additional options.

hua_hui

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Yes, it is good for increasing bitcoin's awareness in your local area. But you want to open bitcoin payment exclusive store, it depends on what products or services you are selling! Is it relating with bitcoin or altcoins? Then you can open such kind of store! If not, you'd better provide the usual payment methods as other stores, otherwise you will be out of business!

Amph

legendary

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in theory it should force people to use bitcoin more, if you store has something that they want, otherwise better to leaves the other payments option or your income would suffer

one thing you could do, is offering some kind of bonus if someone pay in bitcoin, this should incentivate more its use, without cutting too much your earning and without escluding a big clientele

Harry Hood

sr. member

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Merit: 250

I think it's helpful.

If we are to see the project grow we need to be committed to only operating in bitcoin. If goods or services are offered in bitcoin and fiat buyers will use which ever currency is easiest. There's no incentive to us bitcoin if no one ever has to, right?

Topic: Is it helpful or harmful to the Bitcoin to offer products/services only in BTC? - page 3. (Read 3551 times)