I guess that's a good move If your goal is to spread Bitcoin adoption. This is one of the few effective ways to let the people be aware of the evolution in the financial field.
I know accepting Bitcoin may not draw many people to dispose fractions of their Btc for a cup of coffee, though there will be a handful I think who loves to experience paying with Btc for something, but this will be a huge step towards mass adoption.
Now, let's get down to how are you going to handle the terms of payment? Do you need full confirmation in blockchain or you release the product as long as the payment is pending in the blockchain?
Topic: Pay for coffee with Bitcoin - page 6. (Read 1616 times)
It's better before making a decision to use bitcoin as a means of paying for your coffee, you must first understand state policies before being penalized. if your country does sanction the use of bitcoin as a medium of exchange, I think Op's policy is very good with paying for coffee with bitcoin.
The law in my country does not ban Bitcoin in totality but only cautions citizens against the risk in Bitcoin investment, but since we can build adequate knowledge about the crypto industry we will be to manage ourselves through the problems associated with Bitcoin.In a third-world African country, Nigeria operated by Female CEO. Hello, friends am from Nigeria a country where government regulation on cryptocurrency is flexible according to the law, the CBN which is the apex central bank warns against the risk involved in it and advise Nigeria to be careful, but Nigeria is one of the highest in terms of cryptocurrency adoption according to statistics. With the decentralized nature of Bitcoin that have Thousands of Nigeria Citizens who have knowledge of blockchain and digital currencies and have adopted it, In December 2022 I launched a campaign among crypto friends to adopt Bitcoin as a mode of payment in our venture and outlets, on 31st of January I open a Coffee shop and the Capital City Abuja for Bitcoin and none Bitcoin customers. This is aimed at promoting Bitcoin adoption and, as a newbie member here, I wish to see your advice and suggestions.
Thank Odusko
This is a great plan which will also normalize the idea of owning bit[Suspicious link removed]d luck with your business. And with time, who knows bitcoin may be accepted all over. Thank Odusko
I choose not to purchase disposable, single use items like coffee with bitcoin because I see the long term value of holding my BTC.
Personally, I believe BTC will reach 100k in 2022 so purchasing coffee with crypto seems like a bad deal. On the other hand, I can understand buying items that you see as an investment with crypto.
For example, I have friends that have bought smart phones or cars with BTC because those purchases can potentially give one the ability to earn more money.
Personally, I believe BTC will reach 100k in 2022 so purchasing coffee with crypto seems like a bad deal. On the other hand, I can understand buying items that you see as an investment with crypto.
For example, I have friends that have bought smart phones or cars with BTC because those purchases can potentially give one the ability to earn more money.
It's better before making a decision to use bitcoin as a means of paying for your coffee, you must first understand state policies before being penalized. if your country does sanction the use of bitcoin as a medium of exchange, I think Op's policy is very good with paying for coffee with bitcoin.
The law in my country does not ban Bitcoin in totality but only cautions citizens against the risk in Bitcoin investment, but since we can build adequate knowledge about the crypto industry we will be to manage ourselves through the problems associated with Bitcoin. This is aimed at promoting Bitcoin adoption and, as a newbie member here, I wish to see your advice and suggestions.
Thank Odusko
Thank Odusko
I find it amusing to see that third-world countries are starting to adapt and integrate BTC in their mode of transactions on payments. I just do not understand on why some first world countries are missing out in this opportunity, given that cryptocurrencies are starting to take over predominantly on the market.
With your business model, how do you plan on receiving the payment on your end? Once the transaction has been confirmed, will that verify/imply that you have received the payment? My only comment with this would be the time when you receive such confirmation as this may create lines on the restaurant. Anyway, wishing you all the best on your business, OP.
In a third-world African country, Nigeria operated by Female CEO. Hello, friends am from Nigeria a country where government regulation on cryptocurrency is flexible according to the law, the CBN which is the apex central bank warns against the risk involved in it and advise Nigeria to be careful, but Nigeria is one of the highest in terms of cryptocurrency adoption according to statistics. With the decentralized nature of Bitcoin that have Thousands of Nigeria Citizens who have knowledge of blockchain and digital currencies and have adopted it, In December 2022 I launched a campaign among crypto friends to adopt Bitcoin as a mode of payment in our venture and outlets, on 31st of January I open a Coffee shop and the Capital City Abuja for Bitcoin and none Bitcoin customers. This is aimed at promoting Bitcoin adoption and, as a newbie member here, I wish to see your advice and suggestions.
Thank Odusko
Thank Odusko
That's a good initiative from someone who supports blockchain and uses Bitcoin. It will be beneficial to your business as well as the crypto users in your community. If more people would have this kind of initiative, I'm sure that more will gain knowledge on how blockchain works in our daily lives. Most countries only need knowledge and awareness which could lead to crypto adoption in the future.
It's better before making a decision to use bitcoin as a means of paying for your coffee, you must first understand state policies before being penalized. if your country does sanction the use of bitcoin as a medium of exchange, I think Op's policy is very good with paying for coffee with bitcoin.
Regulations in each country are different. but if what happens is an agreement between the seller and the buyer of coffee for transactions using BTC I don't think it will be a problem.it's the same as when I go to a neighboring country for a vacation. but ran out of money and far from changing money. some sellers also accept money from my country. they said they could later be able to help exchange it.
BTC regulations in each country are different. and it creates a dilemma for those who want to transact using bitcoin.
I wish you success in your venture! From what I understand Nigeria is not very welcoming toward cryptocurrencies, but maybe thanks to people like you that attitude may change at some point!
This is really a good move for more crypto adoption but you should consider the government rules and regulation about cryptocurrency and the cost of transaction fee for every cup of coffee. Bitcoin transaction fee is too high, I don't think if people choose to pay with bitcoin in just a cup of coffee.
It is another good adaptation cryptocurrency is not just for about the investment but for the business to most of the business I saw that accepting the crypto is using a QR code or scanning some form and pasting or getting the address. Does the currency fix with the USD value like they paid 30$ and the wallet received 30$ worth of BTC like the gambling platform the hard thing in the crypto is volatile there's an instance it dumps so its not healthy on the business.
That's a good initiative right there. But are you planning to hold the bitcoins or convert them to fiat? Didn't CBN put a ban on using bitcoin. I heard that they closed all bank accounts that were involved with crypto currency transactions. How will you be converting them to fiat? What about the transactions? Do users have to wait for 1 network confirmation or you trust them enough to let them pay with zero confirmation? What about the network fee? How would you deal with high fees and network congestions?
Every business operators are I think like us. They can use bitcoin in their products and then maybe hold bitcoin for sometime or when its value got really high and then they will sell a portion of it, it can be for fiat or can also be a direct spending for an item using their bitcoins and no bank did not put a ban on them but only just a warning about the potential risks of using a crypto and I think this has to deal with the volatility but just to be safe he should inquire in the banks first if crypto related transactions are allowed or not so that no issues are going to be faced later on. There are lots of complications with btc being used to pay but adding another crypto can solved the issue.
as long as your goal is to indirectly educate many people that the use of bitcoin is also very doable, of course very good. but you also have to think about how it will impact yourself with the implementation you are doing, as long as it is not hindered by problems in making disbursement later it is clear what you did very well.
because by being able to accommodate bitcoins you can also play a role in playing the bitcoins that you get to be also profitable for yourself compared to you having to trade on the exchange of course.
Congratulations for the courage you do, of course, needs to be appreciated.
because by being able to accommodate bitcoins you can also play a role in playing the bitcoins that you get to be also profitable for yourself compared to you having to trade on the exchange of course.
Congratulations for the courage you do, of course, needs to be appreciated.
while in my country I can't carry out these transactions because bitcoin has not been widely adopted so that it can be realized until now but if the adoption process has been carried out by various countries then it is not impossible that we can do bitcoin as a legal transaction tool in the process any purchase, with the production process carried out by several countries can at least increase the popularity of bitcoin among the public
in my country also btc can not be used for legal tender. Because the regulations have been issued by the central government. So BTC can only be used for investment assets.
Maybe the government has done research on the bad effects and it's good to make payments with Btc. That's why Bitcoin is only allowed for investment assets, not for legal payment instruments.
Actually the government prohibits using Bitcoin as a means of payment will not work effectively, because there are still many people who can still
buy goods using Bitcoin even though it is illegal in their country. Then I don't believe if Bitcoin is used as payment in a country it will have a bad effect
on that country, the real reason is that these countries are too afraid that Bitcoin will replace their country's currency. In fact, if the government
properly studied Bitcoin, realizing that Bitcoin was legalized as payment would not threaten fiat. But I believe in the future more and more countries
will realize that it is a good thing to legalize Bitcoin as a payment. For now we can only be patient, and grateful that there are still many countries
that are neutral by legalizing Bitcoin as an investment.
while in my country I can't carry out these transactions because bitcoin has not been widely adopted so that it can be realized until now but if the adoption process has been carried out by various countries then it is not impossible that we can do bitcoin as a legal transaction tool in the process any purchase, with the production process carried out by several countries can at least increase the popularity of bitcoin among the public
in my country also btc can not be used for legal tender. Because the regulations have been issued by the central government. So BTC can only be used for investment assets.
Maybe the government has done research on the bad effects and it's good to make payments with Btc. That's why Bitcoin is only allowed for investment assets, not for legal payment instruments.
In a third-world African country, Nigeria operated by Female CEO. Hello, friends am from Nigeria a country where government regulation on cryptocurrency is flexible according to the law, the CBN which is the apex central bank warns against the risk involved in it and advise Nigeria to be careful, but Nigeria is one of the highest in terms of cryptocurrency adoption according to statistics. With the decentralized nature of Bitcoin that have Thousands of Nigeria Citizens who have knowledge of blockchain and digital currencies and have adopted it, In December 2022 I launched a campaign among crypto friends to adopt Bitcoin as a mode of payment in our venture and outlets, on 31st of January I open a Coffee shop and the Capital City Abuja for Bitcoin and none Bitcoin customers. This is aimed at promoting Bitcoin adoption and, as a newbie member here, I wish to see your advice and suggestions.
Thank Odusko
Thank Odusko
It doesn't matter, I think Cofe pays with Bitcoin, this may be a new thing that I hear, but this unique thing is the main attraction for Bitcion lovers to enjoy coffee. And this I believe will become the bitcoin community will gather here and of course this is a positive thing for all of us bitcoin lovers in staying in touch.
However, my advice in promoting coffee should also use other social media such as Instagram, Facebook and others because I think it will be easier for people to know, because almost everyone in the world has a social media account. I hope success for you.
OP, I wonder how you can manage the volatility of bitcoin price when you accepts bitcoin payment? Do you convert if to your local currency everyday or you keep holding it because we all know right now is not good to hold bitcoin since the price continue to fall from 67k to 32k last few days, what if this bear market continue for some months will you still continue to accept btc, its a bit risky for a business, right?
I think OP isn't a newbie who doesn't know well about Bitcoin price volatility, so I believe he knows what to do. If he uses the payment in BTC for the daily needs of his coffee shop, then he probably converts the Bitcoin to his national currency. But if he already has enough funds, he may keep the BTC for his investment. It depends on how his financial strength in the coffee shop. So, don't need to be so afraid of the bearish, there are too many ways to deal with the price decline.
That's a good initiative right there. But are you planning to hold the bitcoins or convert them to fiat? Didn't CBN put a ban on using bitcoin. I heard that they closed all bank accounts that were involved with crypto currency transactions. How will you be converting them to fiat? What about the transactions? Do users have to wait for 1 network confirmation or you trust them enough to let them pay with zero confirmation? What about the network fee? How would you deal with high fees and network congestions?
Looks like bitcoin is successfully entering the day-to-day lives of people! I have always been cautious about using bitcoin to make small payments. But it’s good to know that you can buy coffee with bitcoin. The day is not far when other retailers will also start accepting bitcoin for payments.
OP, I wonder how you can manage the volatility of bitcoin price when you accepts bitcoin payment? Do you convert if to your local currency everyday or you keep holding it because we all know right now is not good to hold bitcoin since the price continue to fall from 67k to 32k last few days, what if this bear market continue for some months will you still continue to accept btc, its a bit risky for a business, right?
Jump to: