On merchants not willing to accept crypto - page 4.

eaLiTy

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Quote from: deisik on January 27, 2019, 12:37:42 PM

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. Wink

Yield7

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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

michael23

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I agree with you. Only a small number of people are really interested in blockchain technology. Other use bitcoin to make a profit. Therefore, they are certainly not ready to give it.

winer099

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I totally agree. The biggest fear is just adapting crypto. If people would trust it more, they would use it more so there would be no problem in using it in everyday life.

babysweetTiger0401

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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.

virasog

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Quote from: traderethereum on February 06, 2019, 09:00:36 AM

Quote from: naufals4 on February 02, 2019, 11:56:02 PM

Quote from: Sithawaka on February 02, 2019, 11:57:54 AM

Quote from: Julunguul on January 29, 2019, 06:57:52 PM

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

I don't think so because merchants will watch the bitcoin price at the market and somehow, they will enter the market too as traders and they will considering that way will give them more profit. I think with many merchants will accept bitcoin as a payment, the rate of bitcoin will get stable because I think the merchants don't want to see the price fluctuate in often or very quickly. But hmm I wonder when the merchant can accept bitcoin and other coins.

Due to the increasing popularity of the bitcoins, merchants will have to accept it in any case and those who will ignore bitcoins will remain backwards in thier business.

ASHLIUSZ

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Quote from: Sithawaka on February 17, 2019, 12:39:12 PM

Quote from: deisik on February 06, 2019, 02:41:51 PM

Quote from: metalglowd on February 06, 2019, 01:33:56 PM

Quote from: shield132 on January 29, 2019, 07:26:21 AM

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

I agree with you many merchants are not using bitcoin because they haven't understand how Bitcoin can be use in businesses in a parallel way with fiat currencies with there core payment structure without making a conflict between fiat currency transactions and crypto transactions but in reality if it is implemented properly in a company both fiat and Bitcoin payment transactions can be done to provide benefits to both customers and organizational stakeholders

Yes, people haven't known better about the use case of bitcoin. Stores accepting bitcoin don't sustain longer as it didn't yield a big revenue. Few of which were the Expedia, majority of the firms here depend on a third party service render. In most cases bitpay seems to be the best.

Sithawaka

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Quote from: deisik on February 06, 2019, 02:41:51 PM

Quote from: metalglowd on February 06, 2019, 01:33:56 PM

Quote from: shield132 on January 29, 2019, 07:26:21 AM

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

I agree with you many merchants are not using bitcoin because they haven't understand how Bitcoin can be use in businesses in a parallel way with fiat currencies with there core payment structure without making a conflict between fiat currency transactions and crypto transactions but in reality if it is implemented properly in a company both fiat and Bitcoin payment transactions can be done to provide benefits to both customers and organizational stakeholders

deisik

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Quote from: metalglowd on February 06, 2019, 01:33:56 PM

Quote from: shield132 on January 29, 2019, 07:26:21 AM

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

Rmcdermott927

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I agree but it’s just a matter of time. It’s like trying to get my grandparents to use an iPhone. Small mom & pop shops don’t understand crypto and may never understand it. It’s only a matter of time until that generation dies off and is replaced by more forward thinking people without a fear of technology.

There are other issues when it comes to larger businesses. Most of those issues are legal or liability issues and that will change in time as well when more precedent is set by people who already accept crypto.

Rome was not built in a day, and in a timeline of modern history, bitcoin is barely a blip on the radar.

It’s coming, it just may take a few more years or even decades until crypto is not only accepted, but preferred.

aad140386

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I do not know if I can agree with you. On the one hand, you are certainly right, but on the other hand, no. Of course, elite real estate or elite cars can now be bought for cryptocurrency, but what percentage is the total share of sales of elite real estate or elite cars. I mean, if only 5% of all retailers in real estate sell housing for bitcoins, then this is very small, and your choice will be limited. As for the car, the situation is exactly the same. If you want Mazeratti and you can only buy Lambo for bitcoins, then this is a limited choice, and this is bad. Only then can Bitcoin become the number one currency in the world when you can buy anything for it.

metalglowd

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Quote from: shield132 on January 29, 2019, 07:26:21 AM

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down ?

traderethereum

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Quote from: naufals4 on February 02, 2019, 11:56:02 PM

Quote from: Sithawaka on February 02, 2019, 11:57:54 AM

Quote from: Julunguul on January 29, 2019, 06:57:52 PM

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

I don't think so because merchants will watch the bitcoin price at the market and somehow, they will enter the market too as traders and they will considering that way will give them more profit. I think with many merchants will accept bitcoin as a payment, the rate of bitcoin will get stable because I think the merchants don't want to see the price fluctuate in often or very quickly. But hmm I wonder when the merchant can accept bitcoin and other coins.

iMark

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Quote from: imstillthebest on February 03, 2019, 12:26:35 AM

Quote from: naufals4 on February 02, 2019, 11:56:02 PM

Quote from: Sithawaka on February 02, 2019, 11:57:54 AM

Quote from: Julunguul on January 29, 2019, 06:57:52 PM

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

That is a mainstream reason, I think merchants will definitely receive payment with bitcoin when the demand for it is very large? for now many merchants have not added bitcoin as their payment method because there is still little people use it, when the demand for it is large, they will definitely accept

bajingluncat

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indeed there are too many things that hinder the adoption of bitcoin in everyday life
1. traders, even though they are not completely wrong, may be a matter of calculating profits, if using btc, the amount of profit is uncertain
2. Buyers, too many considerations especially if you see prices going up, they prefer to save as an investment tool rather than using it to buy goods
3. government, there is a regulation that only cash issued by central banks is a legitimate means of transaction, is the most important obstacle because it deals directly with the law
4. price fluctuations, price volatility makes people think again to make it an eye
money
5. security and many other factors that make bitcoin hard to become a full currency.
in conclusion, all right is not an absolute mistake of the trader but the choice is returned to those who have bitcoin itself

LogitechMouse

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One reason is because of the volatility of it. They are afraid that they will be in a loss if they try to accept crypto in their stores. If you will see the movement of Bitcoin in the past 2 years, in 2017 it went from 1000 to around 20000 in less than a year and then it falls at around 3000-4000 in the end of 2018. Many are not accepting it because of this nature of Bitcoin.

I agree with what you are saying. There are many Bitcoin holders out there and its just the consumer doesn't want to use their Bitcoin to buy things because they are hoping that they will gain profit in a certain time.

deisik

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Quote from: eaLiTy on February 06, 2019, 01:32:13 AM

Quote from: pooya87 on January 27, 2019, 11:40:06 PM

- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

The merchant adoption rate was much bigger during 2013 and more merchants were accepting bitcoin during that time than the present situation and since you are an old member you might remember those golden moments, our catch phrase during that time was transfer any small amount all over the globe basically without any fees or a very minimal fees, but things turned for the worst when transaction reached a bottle neck and transaction fees started rising and that is the reason many merchants stopped accepting bitcoin and they are yet to open the market so soon after that situation. Major online outlet accepting bitcoin will make a huge difference without a doubt

If ever, it was not the direct cause

But obviously, people were pretty much discouraged to pay such exorbitant fees even if they wanted to buy something for Bitcoin as it was them who paid the transaction fees, not merchants. So merchants (whoever accepted cryptocurrencies) turned off this payment option due to lack of demand as it might have become prohibitively expensive for them to support see (see Steam as an example of that)

thesmallgod

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Your points are actually valid. before 2017 in my country, just few local exchanger and merchant that will accept bitcoin exist but immediately many people are getting to know bitcoin and they are as well holding it, it create a pressure which drive the acceptance among merchant because many people are ready to use it as a payment options. today we have so many merchant that accept not only bitcoin and ethereum but also some other coin such as XRP. willingness of people to use bitcoin make more merchant to accept it.

eaLiTy

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Quote from: pooya87 on January 27, 2019, 11:40:06 PM

- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

The merchant adoption rate was much bigger during 2013 and more merchants were accepting bitcoin during that time than the present situation and since you are an old member you might remember those golden moments, our catch phrase during that time was transfer any small amount all over the globe basically without any fees or a very minimal fees, but things turned for the worst when transaction reached a bottle neck and transaction fees started rising and that is the reason many merchants stopped accepting bitcoin and they are yet to open the market so soon after that situation. Major online outlet accepting bitcoin will make a huge difference without a doubt.

Groucho

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Yes you can buy the most fantastic things with Bitcoin and live the way of the rich & these merchants that accept this type of payment take the biggest risk maybe because they are rich and speculate in Bitcoin as they have agreed to take this form of payment. Ordinary retail merchants Bitcoin payments are definitely not a practical method of payment because the percentage of profit maybe so slight that the more Bitcoin that they accumulate can have a detrimental effect on profit margins. As Bitcoin fluctuates to much they would incur a heavy loss against luxury merchants that are Bitcoin savvy consider their goods as a stock trade with higher percentages of profit buy with Bitcoin pay more sell for Bitcoin attract newer type of customer. The only way that I can ever see Bitcoin merchant adoption is if when the seller has a bitcoin payment everything is handled on the buyers end the buyer pays with Bitcoin plus percentage for conversion to stable token and the funds are sent to the merchant. Bitcoin fluctuates that much that BTC would have a major flaw as the time it would take to reach the vendor can at times take more than 2 hours as you have probably experienced also.

Topic: On merchants not willing to accept crypto - page 4. (Read 1186 times)