Topic: Motivate currency exchangers in big city centres to exchange bitcoin ? (Read 1526 times)

It is indeed a good move to start market adoption through bitcoin local exchanges that are big bit I think they need focus first about making it possible first for people to see allot of stores and markets that offer cryptocurrency as a payment option. Because merely opening a big exchange in a city will just go to waste if peoppe didn't know where cryptocurrency could be use in their daily lives.

Many of them already are since they realize there is money to be made and why not add extra currencies to your exchange? The more the better. You don't want to be turning down customers because their coin is not listed. Even if it is merely a few dollars. With thousands of customers, those few dollars become thousands of dollars. They work more than stocks though since it is a traditional stock market. When I first saw it I was surprised bit I guess it is a good thing for even more crypto exposure.

This is because it is not widely employed in small shops in many countries, it is still in its productive phase. Once the payment method will become common everywhere and will be used by everyone, its cost will become stable. The people will not face the similar problems once it will be employed freely and fairly. This would happen because of the transparent transactions it offer.

there are likes and dislikes if a small shop can accept payments using bitcoin.
the good news.
1. practical, efficient.
2. transparent transactions.

the bad news.
1. the cost of each transaction is still fairly expensive, especially if you buy a product under $ 1.
2. Wait a long time to confirm the block if you pay a cheap fee.

That would boost the people's into using these crypto currencies if that happens. As far as I know there are a lot of people that uses crypto currencies but the thing that stops them from using it is because of the fact that very few of these population accepts bitcoin as a payment method. If currency exchanges accepts this, stores would do too.

It's a good proposal,  but cryptocurrency have to be legal in such countries before it can be considered.
Some of this stores are interested in crypto as a legal tender, but the instability in price, and the absence of instant crypto to fait exchange still affects their acceptance.

Well said but it is only possible when the owners of those exchangers are open to innovating their ways. Most of the running people are old also don't have the guts to study the new tech and even don't want someone from their firm to.

We can't change with regulation from government to keep make bitcoin as legal currency payment and exist as investing assets because many countries look hate with bitcoin and try to banned bitcoin as investing assets, look loss competitor if bitcoin become popular and have higher price at the future.

Government regulations and the banned put on this digital technology is the major hindrance in its way of development. As most of bitcoin users are working on its promotion, common people will get awareness about it soon and this will definitely lead to the further development of this market. Then more and more people will come forward to join hands with the users of crypto market.

Such posts always takes you to early days of bitcoin launch when bitcoin was just few cents.
I do agree that this idea is still an idea and doesn’t take the shape of reality even after 10 years. One of major reason for this is government regulations in most of the countries that forbid direct trading of bitcoin. But the way crypto is going up, I am sure very soon currency exchangers will join this market to have there share also.

Would it be more possible if we have small business adopting first to bitcoin followed by big exchanges? but it is also possible that these big exhanges will be the driving force to attract small businesses to adopt to cryptocurrency. With this, it might be easier to push the approval of the government to apply and formulate laws concerning crypto, unlike by small business which will noticable to be just ignored by the government.

From what I always believe on, the adoption should start from those big ones. Motivating small businesses is truly pointless since from these entrepreneur's perspective, they won't adopt something that even the big players are not doing, which only means that it isn't feasible to use. Though for me, it should start from the multinational companies in partnership with payment gateways, before it would be feasible to even SMEs.

Yes, the regulations to be followed differs with every country. This way it is little complicated process for exchange service providers to start cryptocurrency exchanging. Maybe this service can be initiated within a limited range at the beginning. In real life this will happen, but takes time as user community is getting wider.

yes I really agree with the bitcoin is very easy for us in the transaction. hopefully bitcoin can be accepted as a currency that we can use to transact anywhere

I don't think that can easy function in practice, at least not in all countries.
Every country has its own regulation and rules about exchanges so they can't just so easily decide to deal with cryptocurrencies too. That should be regulated first, otherwise they would do their business outside law.
So, nice idea and initiative but not likely to be well performed in real life.

Big exchanges on the cities to support exchanging of currency with bitcoin is good initiative, and this at the beginning won't be that effective. Also the business the large exchanges have is really big, upon the same bitcoin exchange service within them won't get more attention. At the very early stage it is us who need to establish small scale exchange service. Only through this it is possible to make a big difference in future.

It sounds not bad, but I wouldn't do it. For one, exchanges take extra fees, and often the fees are quite significant, especially if a currency is not one of the most popular ones. So for me, for instance, it would make no sense to exchange more under a crazy commission in a big exchange when I can do it online at reasonable rates already. Another thing is that encouraging exchange for fiat rather than Bitcoin adoption makes Bitcoin insufficient and not really used as money in real life, which is a problem we already have and probably don't need to make bigger. At the time the person wrote it, the situation must have been very different. So I guess many local exchanges already accept Bitcoin.

As it is banned in many countries also, bitcoin is placed under the carpet. Due to this people are not aware of it and its benefits. So to create a high demand of it in the market and currency exchangers, we should bring it from under the carpet in front of exchangers. It will attract people only if it will offer good exchanges than other currencies.

It's not that easy to realize. many countries have their own legal regulations. First of all, progress should be made on this issue. But a few exchanges like this, I can see that they are getting ready to step up in the future about it. In any case, it is very important to overcome legal issues.

I didn't know if people had so high ambition 9-10 years ago when bitcoin was just 1-2 years old. I think this thread mustn't be so dead and that's why I am posting too.
There are a lot of currency exchanges in streets, they have better exchange rates than banks and people usually use them (I don't mean exclusive exchange rates from banks, those are for millionaires). They are good in offline work but it can be possible to offer bitcoin exchange rates that will be better than the ones that are offered from online exchanges, at least they will be far better than bitcoin ATM rates but it needs analyse and some staff to make it work. Once people will see stick of Bitcoin logo on doors/walls of many exchanges, they'll get more interested with it + most of the times there are shops near to exchanges, when owner of this shop will see that these exchanges have B logo, they may as well get interested to accept bitcoin payments. OP's opinion is really correct, we don't only need to offer better exchange rates and availability but to create high demand on it but Western Union and other money transfer companies that are partners of such exchanges will be against this to happen because they charge high fees and get solid profit from this business + have control on money.