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Topic: Reason why businesses should accept Bitcoin payment - page 6. (Read 1246 times)

hero member
Activity: 3010
Merit: 666
I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.
It has to understand that prices are unstable which gives a reason why merchants aren't yet fully embracing the use of crypto but instead of considering this as an investment. As a business owner, it is really risky on our side, price fluctuations come anytime and this could create losses unless if we just hold and never spend them but that is impossible when we are in business.
But I believe that this come to realization and Bitcoin become an alternative online payment to major establishments. It was not necessary to hurry, yet we need to plan it so well rather than regret it later as there are a lot of things to prepare before accepting it.
legendary
Activity: 2282
Merit: 1023
I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.
If i am in a physical stores why would i use any payment method that has a fees attached to it when traditional payment system does not have any transaction charges attached. Have some logic, if i am making an online transaction i am more than happy to use cryptocurrency to safeguard my privacy and moreover i am not comfortable using my credit card when making online transaction due to security reasons.
member
Activity: 137
Merit: 13
I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.
sr. member
Activity: 1876
Merit: 318
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.
Maybe not all businesses, but a lot of them will accept in the future. Not only bitcoin but other good alts for payment method like XRP, TRX or LTC, which incur very minimal transaction fees. A lot of btc holders up until now don't want to spend their satoshis because for the hope that it will gain massive value in the future. But some are already trying to spend their satoshis when they feel it is more convenient for them to pay via btc. Whereas, for businesses, the volatility issue is still their issue why some are still hesitant, but other merchants are now accepting for the same reason. We can't expect them to have the same preferences towards this matter. But the adoption is increasing every day.
Nothing is guaranteed when we do talk about future whether most of them accepting Bitcoin payments or would remain still on what they do have now in terms of payment options.Not all merchants would really be that having positive insights towards Bitcoin or crypto as a whole.

They dont like for their stable profits to be affected by volatility which means they would really be hesitant on that part which isnt really that
surprising.Some of them are still observing.

If there would be some sudden influx of numbers of merchants adopting bitcoin or crypto then they might be considering on joining the bandwagon.

We all will never know what will happen in the future, but we all want to hope for positive things that will happen. I really hope that business owners
can start learning about Bitcoin, so that they can at least know the benefits of Bitcoin, and is expected to adopt Bitcoin. But because Bitcoin also still
has some drawbacks, that's what some merchants are considering when adopting Bitcoin. I believe the price of Bitcoin skyrocketed this year,
has its own charm to make some merchants accept Bitcoin payments. It is profitable for merchants who have decided to adopt Bitcoin if Bitcoin
continues to rise in price, and if we look at the popularity of Bitcoin which is indeed increasing, Bitcoin is probably still in a bullish trend at least
until mid-2022.
member
Activity: 532
Merit: 25
Frankly speaking I doubt that BTC is good for business. Its volatility is very high and no one cool analytic can predict the depth and time of its growths and falls. Moreover, if the company will receive some amount of money in BTC and then the price will suddenly fall and the same thing will cost more BTC, so the company will be in minuses. How to cover huge damage if BTC will suddenly fall on 20-25 thousands, for instance (sometimes new increase happens only in several months) ? What to do with salaries: to pay fixed price in dollars or in BTC? I’ve mentioned only some problems. There are a lot more of them. Business will suffer and even bankrupt if it always face this. Think it’s very hard to make business always using BTC as a means of payment.
member
Activity: 728
Merit: 12
Using Bitcoin as a means of payment in business is a good thing. Bitcoin makes transactions faster and easier. Many people have used Bitcoin as a means of payment and they are satisfied with the sophistication of Bitcoin. Especially for a Bitcoin trader or investor you don't need to convert Bitcoin into fiat to pay because Bitcoin has been allowed directly as a means of payment.
legendary
Activity: 2618
Merit: 1105
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

If movement of btc skyrockets among merchants, businesses and consumers, we will see volatility increasing more instead of getting reduced and balanced because with btc purchases from consumers' end, merchants and businesses will also sell their btc at month end or some time in future to keep balance between fiat-crypto. This will add additional instability to the already volatile bitcoin and may businesses decide to keep btc, it does not keep going up so if it drops, those businesses will also suffer so they will need to maintain the balance.

I have an argument here - if they (businesses) were to accept btc, they would have started to accept gold or platinum or even petrol against their goods or services because these things have a tangibility value.
legendary
Activity: 3122
Merit: 1140
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

Maybe not all businesses, but a lot of them will accept in the future. Not only bitcoin but other good alts for payment method like XRP, TRX or LTC, which incur very minimal transaction fees. A lot of btc holders up until now don't want to spend their satoshis because for the hope that it will gain massive value in the future. But some are already trying to spend their satoshis when they feel it is more convenient for them to pay via btc. Whereas, for businesses, the volatility issue is still their issue why some are still hesitant, but other merchants are now accepting for the same reason. We can't expect them to have the same preferences towards this matter. But the adoption is increasing every day.

Nothing is guaranteed when we do talk about future whether most of them accepting Bitcoin payments or would remain still on what they do have now in terms of payment options.Not all merchants would really be that having positive insights towards Bitcoin or crypto as a whole.

They dont like for their stable profits to be affected by volatility which means they would really be hesitant on that part which isnt really that
surprising.Some of them are still observing.

If there would be some sudden influx of numbers of merchants adopting bitcoin or crypto then they might be considering on joining the bandwagon.
hero member
Activity: 2940
Merit: 613
Winding down.
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.
No matter what we do, it can never change the volatile nature of the market. Even we would say that it lesser the volatility of the market Merchants will adopt the system if they want but this never gives them safe especially when they are mishandling their funds.

But there is one thing that could encourage them to adopt and accept Bitcoin if they know that this has been supported by the government and legally allowed as money tender in addition to fiat money. As in their mind that they were secured when the government is backing it up and they know that they can ask help if there is something wrong happen with them.
sr. member
Activity: 1988
Merit: 275
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

Maybe not all businesses, but a lot of them will accept in the future. Not only bitcoin but other good alts for payment method like XRP, TRX or LTC, which incur very minimal transaction fees. A lot of btc holders up until now don't want to spend their satoshis because for the hope that it will gain massive value in the future. But some are already trying to spend their satoshis when they feel it is more convenient for them to pay via btc. Whereas, for businesses, the volatility issue is still their issue why some are still hesitant, but other merchants are now accepting for the same reason. We can't expect them to have the same preferences towards this matter. But the adoption is increasing every day.
sr. member
Activity: 2660
Merit: 339
in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.
full member
Activity: 1050
Merit: 109
1xBit.. recovered their reputation
enthusiasm for bitcoin is growing year after year

in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment
hero member
Activity: 1316
Merit: 502
Currently bitcoin is a trend and is in demand by investors, even during the pandemic which makes many businesses and investments die, bitcoin continues to increase, many reports state that the rapid development of bitcoin because it comes from millionaires and global companies who invest so that to make the business more developed it is mandatory to accept bitcoins.
Honestly, instead of thinking of an acceptance as a payment feature, I'd rather bitcoin become an investment fund of more businesses around the world because the data reports speak very clearly about this trend, especially after coming out of the pandemic period, such online investments are proving more and more important. Such as the success of Elon Musk and EI Salvador, the original idea was always a payment concept but after the rise of bitcoin they seem to focus it more as an investment
hero member
Activity: 2170
Merit: 530
I think that it is a good marketing step of companies to start accepting Bitcoin as the means of payment. There is a lot of hype around crypto industry today, so people are willing to pay with it. What is more, Bitcoin is really stronger than national currencies of different countries with hyperinflation. That is why is being accepted by weak countries such as Solvador etc.

I believe that accepting bitcoin or having another mode of payment in their business will become one of the advantage of a certain business to other business. Of course this would be one of their marketing strategy that in fact will become one of their great asset because the world economy today are slowly accepting cryptocurrency. This isn't much gaining a massive attention but I do believe that time will come that cryptocurrency will become a useful currency in the world.
full member
Activity: 1736
Merit: 116
I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

Everyone one knows accepting Bitcoin for business is a good idea because it serve so many purposes, the only problem and challenge we have is the government . The government won't let it work  they are not in control cryptocurrency. This is the major issue we have .

If we see the increasing popularity of Bitcoin this year, business owners should take advantage of it, to accept Bitcoin payments. That way it will attract
buyers, because it gives them the option to make payments with Bitcoin. Another fact is that business owners can benefit from the increasingly
expensive Bitcoin price. Although the price of Bitcoin is volatile, but if the price of Bitcoin drops it's only temporary, because Bitcoin is an asset that
recovers very quickly. So there is no need to be afraid of trying to accept Bitcoin payments for business owners, but the problem is that government
support is needed in this regard. Unfortunately, many countries still prohibit using Bitcoin for payments, so this is an obstacle for business owners who
want to accept Bitcoin payments. Hopefully the government that prohibits Bitcoin as a payment can change its mind and can see the positive side of
legalizing Bitcoin as a means of payment.
sr. member
Activity: 868
Merit: 253
Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

I think that it is a good marketing step of companies to start accepting Bitcoin as the means of payment. There is a lot of hype around crypto industry today, so people are willing to pay with it. What is more, Bitcoin is really stronger than national currencies of different countries with hyperinflation. That is why is being accepted by weak countries such as Solvador etc.
sr. member
Activity: 1428
Merit: 252
Currently bitcoin is a trend and is in demand by investors, even during the pandemic which makes many businesses and investments die, bitcoin continues to increase, many reports state that the rapid development of bitcoin because it comes from millionaires and global companies who invest so that to make the business more developed it is mandatory to accept bitcoins.
member
Activity: 742
Merit: 12
Global peace initiative
I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

Everyone one knows accepting Bitcoin for business is a good idea because it serve so many purposes, the only problem and challenge we have is the government . The government won't let it work  they are not in control cryptocurrency. This is the major issue we have .
I guess scalability is one of the major advantages of bitcoin acceptance in a business aside from the fact that the company also profits from the price of Bitcoin if it moves in the upward direction during the period of holding Bitcoin.
member
Activity: 672
Merit: 16
I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

Everyone one knows accepting Bitcoin for business is a good idea because it serve so many purposes, the only problem and challenge we have is the government . The government won't let it work  they are not in control cryptocurrency. This is the major issue we have .
member
Activity: 534
Merit: 19
Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.
And thats if price goes upward only, how about if it goes downward? Who would finance these small start-ups if BTC goes downward drastically? Well, for me BTC as a mode of payment is faster than current way of transacting. It enhances the experience of having a transaction. It also avoids human contact as well.
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