On merchants not willing to accept crypto - page 3.

gabmen

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Quote from: Juggy777 on February 20, 2019, 01:38:46 AM

Quote from: alonelyorange on February 19, 2019, 08:45:03 PM

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

Hey this depends on who the merchant is and which country does he belong to, initially many were keen to accept it but due to their governments not approving bitcoins they don’t accept it now. Also I feel one should be careful when using bitcoins to pay sellers with zero reputation, here I would suggest you use PayPal. Hey Bitcoins cannot be banned or stopped governments do not have that kind of mechanism to stop it, they can only impose rules which can always be broken.

Well we can't expect majority of sellers to have that much confidence in transacting in btc yet. This is a pretty new technology and people needs to have time to become familiar with it. Especially after the 2018 debacle that stripped confidence from new and would-be users. Give it time. It's inevitable that technology will be embraced by everyone.

Irvinn

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In my opinion, there is not even the willingness of sellers of goods to accept cryptocurrency. In my state, business structures do not do this, because the tax authorities are bombarded with fines. Business structures cannot violate the established rules, in case they switch to using cryptocurrency, they will have problems with reporting. Until the cryptocurrency is legalized by the state and there are no specific instructions from the tax authorities, business structures will be afraid to use cryptocurrency as a means of payment.

Juggy777

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Quote from: alonelyorange on February 19, 2019, 08:45:03 PM

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

Hey this depends on who the merchant is and which country does he belong to, initially many were keen to accept it but due to their governments not approving bitcoins they don’t accept it now. Also I feel one should be careful when using bitcoins to pay sellers with zero reputation, here I would suggest you use PayPal. Hey Bitcoins cannot be banned or stopped governments do not have that kind of mechanism to stop it, they can only impose rules which can always be broken.

OrangeII

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Quote from: alonelyorange on February 19, 2019, 08:45:03 PM

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

well, because of that, there are still many people who use crypto. that's the function of the exchanger. however, some people want to do direct transactions with crypto, and unfortunately there are still many traders who reject it, because it is not in accordance with the government regulations.

alonelyorange

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What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

mapanlah

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traders who want to receive krypto only exist in developed countries or countries that provide support facilities for buying and selling using crypto. but in a country that has not recognized crypto as a currency then if the merchant wants to accept crypto as a means of payment it will be a problem. because the government will take legal action against the trader.

deisik

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Quote from: Iamannie on February 19, 2019, 05:51:29 AM

Quote from: deisik on February 19, 2019, 05:35:30 AM

Quote from: tbossmitche on February 19, 2019, 04:03:22 AM

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

That is if they use payment processor like coinpayments, coinbase etc but some merchants who would rather partner with the merchant directly like XVG and other altcoins then they do suffer the volatility at its finest (or worst

You may want to read the thread too

Merchants who choose to accept crypto directly can easily get rid of volatility through hedging (which I explained earlier as well). But it makes sense if you have quite a few consumers willing to pay with cryptocurrencies. If you don't, you'd better go with third party solutions like the ones you mentioned. Otherwise, you can use major exchanges like Bitfinex to open offsetting short positions and thus become invincible to volatility bursts

iMark

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Quote from: EdenHazard on February 18, 2019, 03:19:07 AM

Quote from: Bitcoindigger02 on February 18, 2019, 01:31:29 AM

There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

Have you remember a Chinese government effort to force its people to use Baidu to leave Google? has it succeeded? I do think not, Chinese people still use Google instead of Baidu. I guess this is the same as bitcoin now, you can use bitcoin even though the Chinese government provides many procedures to do it.

The point is people will use what they think is more comfortable, Chinese people prefer Google because it is easier and wider network. so is bitcoin, which covers the entire world. I'm sure bitcoin will be increasingly used even though some countries and merchants still reject it

Iamannie

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Quote from: deisik on February 19, 2019, 05:35:30 AM

Quote from: tbossmitche on February 19, 2019, 04:03:22 AM

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

That is if they use payment processor like coinpayments, coinbase etc but some merchants who would rather partner with the merchant directly like XVG and other altcoins then they do suffer the volatility at its finest (or worst).

deisik

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Quote from: tbossmitche on February 19, 2019, 04:03:22 AM

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

tbossmitche

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You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins. A major reason why I believe that the users also are at fault is due to the fact that we are all just truly concerned about the profits we stand to gain by hodling and selling cryptocurrencies. This is sad considering the fact that we all claim to be looking forward to mass adoption of cryptocurrencies. The movement should start with us as individuals.

deisik

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Quote from: kram31 on February 18, 2019, 10:39:38 AM

As long as there are no much regulation on the coin and cryptocurrency we will have a hard time to get more merchants to accept bitcoin on their market

In fact, it cuts both ways

As it depends on what kind of regulation is being enforced by the authorities. If the rules and regulations are not about banning crypto out of hand, but actually about making things clear and well-defined, i.e. about regulating it (as in Japan, for example), that would in fact make accepting cryptocurrencies easier. When the rules are clearly defined, merchants will always know where they stand in respect to cryptocurrencies and can act accordingly

Sithawaka

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Regulations from governments has become a big problem for many merchants to avoid accepting Bitcoin because any organizations doesn't won't trouble from the low frame work in there country because it can be very bad for the progress and due to regulations and restrictions from government against crypto merchants think twice before accepting crypto so freedom from governments is a must for merchants to accept crypto

kram31

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As long as there are no much regulation on the coin and cryptocurrency we will have a hard time to get more merchants to accept bitcoin on their market.
THey will be in trouble if they allow it, especially if the government is not allowing the use of cryptocurrency or bitcoin in their country.

AAKODI

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Merchants are not accepting bitcoin due to some kind of believe system or a mentality they are having regarding cyptocurrencies than the true reality because if some one deny bitcoin or any other altcoin due to a loss by trying them by adopting in there businesses it is acceptable but many doesn't do that and spread false information regarding bad side of cryptocurrencies for no reason so majority of merchants deny crypto for no solid reason but due to false rumors from media and the mentality or believe system that they have build according to those information

EdenHazard

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Quote from: Bitcoindigger02 on February 18, 2019, 01:31:29 AM

There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

Have you remember a Chinese government effort to force its people to use Baidu to leave Google? has it succeeded? I do think not, Chinese people still use Google instead of Baidu. I guess this is the same as bitcoin now, you can use bitcoin even though the Chinese government provides many procedures to do it.

deisik

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Quote from: eaLiTy on February 17, 2019, 08:53:46 PM

Quote from: deisik on January 27, 2019, 11:37:42 AM

And this is where we see Bitcoin being willingly accepted by providers of these services and suppliers of such goods. You can easily buy elite real estate, pay for the most exclusive sports cars, seduce your passion with most exquisite jewelries, and you can do all these things with bitcoins - provided you have enough of them, of course. In simple terms, when money talks bullshit walks. And Bitcoin is that money

So it is not about merchants at all

These are probably one off deals and it does not mean that they are accepting bitcoin for the rest, the elite customers can negotiate the deals on their terms if they are willing to pay more in bitcoin than the dollar rates and i am sure so is the reason they got these one off deals but that does not mean that they will be accepting bitcoin from everyone, surely money talks and that is what has happened here, merchant adoption means that everyone is able to spend the same coins and get those products and that is not the case here. People who accumulate wealth can dictate the terms but not everyone

I definitely see your point

And I can't say that I particularly disagree with it. However, while a small individual with empty stomach and holey pockets can't indeed dictate his terms (and in this you are certainly right), things change if there are many such individuals. In this case, it becomes essentially the same as one big wheel with deep pockets. Thereby, we still come to the same conclusion, i.e. it is the lack of sufficient demand that prevents merchants from fully embracing crypto

Bitcoindigger02

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There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

xWolfx

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Quote from: Yield7 on February 17, 2019, 02:08:58 PM

IF btc Will be more accepted on the Main Stream then the btc price Will Go Up.

the big guys Want to Get Crypto Under the table (otc) just Before they make Crypto price high.

Once they got most of the Crypto then they are Happy to make it more mainstream.

This is what we need to Understood first

Yes this is what we need to understand first i agree.

But we also have yet to understand that with the current mining rate still years left to buy relaxed. So it's better to take advantage of those because they won't come back ever again. Something to think of.

I personally use Bitcoin unless i got it in a high price and it dropped a lot even like this. It's just a matter of perspective. Just leave some money on the bank for emergency cases or you will lose a lot of money and they blame it on crypto like a lot of people do.

hen cet

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Quote from: babysweetTiger0401 on February 17, 2019, 12:57:29 PM

Nowadays, there are few of the merchants who are accepting bitcoin and crypto as payment.
Perhaps, it will take more years before the majority would accept it. Because especially now the market was down, I think
lots of the merchants are afraid to risk their business on this matter.

In business traders make decisions that benefit them. Indeed, not all traders accept payments using bitcoin, for some reasons such as bitcoin is not recognized in the country, it is difficult for transactions, the internet is slow, etc.
But to change the perception of traders to be willing to accept bitcoin takes a long time and the role of government where bitcoin is not illegal.

Topic: On merchants not willing to accept crypto - page 3. (Read 1239 times)