Reason why businesses should accept Bitcoin payment - page 7.

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Quote from: bitterguy28 on November 04, 2021, 03:49:37 AM

Quote from: RILWAN on November 01, 2021, 05:45:13 AM

Quote from: Lubang Bawah on October 16, 2021, 05:41:27 AM

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

But most businesses are already accepting Bitcoin as payment as it give them double advantage which is profit making asset and at the same time an acceptable payment gateway for doing business.

Wait, where did you get that Data? can you provide at least one proof of this being happening ? does your market in your place majority accepts Bitcoin as payment? can you buy a Bottled water using your crypto coin?
if not then don't talk as if you are talking for the whole world because this is not reality , I have been struggling to find some merchant or establishment that i can make use my coin for payment but it is indeed hard to find.

maybe he meant that there are some places where they accept bitcoin as a payment method. I suppose he lives in countries like USA or EU countries because in African countries it is a rarity to see somewhere accept bitcoin as a payment method, in this matter I think it will take years for all countries one day to use bitcoin as a payment method. . in my country there is no store at least that accepts bitcoin as a payment method

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Quote from: dEjAvOU on November 04, 2021, 02:59:55 AM

Bitcoin users who continue to increase and spread throughout the world make business people have to accept bitcoin immediately,

exactly in this one , nowadays businesses are being forced to check and learn what or how beneficial crypto in their business, they are now seeing the trend and there are many example on how this will be helpful both costumers and businesses.

Quote

by accepting bitcoin it will increase customers so that business can be successful, especially now if there is an online store that accepts bitcoin it will become viral and this is a great promotional tool. effective.

There are some physical business now in near me that starts accepting bitcoin , even the 7/11 near us now starts accepting bitcoin in some products but not the entire store meaning they are starting to adopt.

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Quote from: RILWAN on November 01, 2021, 05:45:13 AM

Quote from: Lubang Bawah on October 16, 2021, 05:41:27 AM

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

But most businesses are already accepting Bitcoin as payment as it give them double advantage which is profit making asset and at the same time an acceptable payment gateway for doing business.

Wait, where did you get that Data? can you provide at least one proof of this being happening ? does your market in your place majority accepts Bitcoin as payment? can you buy a Bottled water using your crypto coin?
if not then don't talk as if you are talking for the whole world because this is not reality , I have been struggling to find some merchant or establishment that i can make use my coin for payment but it is indeed hard to find.

dEjAvOU

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Bitcoin users who continue to increase and spread throughout the world make business people have to accept bitcoin immediately, by accepting bitcoin it will increase customers so that business can be successful, especially now if there is an online store that accepts bitcoin it will become viral and this is a great promotional tool. effective.

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Quote from: RILWAN on November 01, 2021, 05:45:13 AM

Quote from: Lubang Bawah on October 16, 2021, 05:41:27 AM

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

But most businesses are already accepting Bitcoin as payment as it give them double advantage which is profit making asset and at the same time an acceptable payment gateway for doing business.

Nope, it usually depends on what country or particular place you live in because bitcoin doesn't get through as much as we think in certain places. And not every country has business establishments or stores that accepts bitcoin especially here in our place. The only advantages of bitcoin payment here is ordering international markets and dealers like Alibaba and Amazon, which makes us in advantage also not to move frequently our assets in bitcoin form.
But I do hope soon that there will be some establishments here in our place that do accepts payments in bitcoin form.

RILWAN

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Quote from: Lubang Bawah on October 16, 2021, 05:41:27 AM

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

But most businesses are already accepting Bitcoin as payment as it give them double advantage which is profit making asset and at the same time an acceptable payment gateway for doing business.

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Quote from: Cling18 on October 16, 2021, 06:41:32 AM

Even huge businesses will benefit from the convenience that Bitcoin could provide especially during the pandemic situation that we have. That's actually the reason why big companies are now starting to accept Bitcoin because it's too helpful even for international transactions. It could save us from too much hassle. I believe that more businesses would still choose Bitcoin in the coming days.

not all businesses can accept bitcoin, because some of them have not had time to understand about bitcoin and some of them are still afraid of the level of risk investing with crypto which is so vulnerable to price drops. Only business people who have more asset value can accept bitcoin as a means of payment for their business.
they can group their assets into two groups, firstly fixed assets such as bitcoin investments or bitcoin receipts and secondly current assets for their business activities.

Rishabh riyz

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Quote from: Alisha-k on October 08, 2021, 03:15:39 PM

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.

the charges ,if you might be referring them to as taxes that the government takes then you might be contradicting your own words of positively impacting the economy, how can a country run when more and more people have a way of transaction that doesn't provide the government with incomes , I mean I am not saying that taxes are always good but they are sort of primary income for the government and they are a must for running any nation .

now about business accepting bitcoins it would certainly be a boost for the crypto but at the same time isn't microtransaction for daily spending too much time consuming , people would have to be educated enough to understand the working of the crypto currency and that the transaction process may take time , people would have to be more patient and have basic knowledge about transaction made via blockchain technology , its easy to start accepting bitcoins for mode of payment but people should also use it as a currency , people think of bitcoins more as an asset than a currency and the volatile nature of the value of BTC also forces them to think the same.

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Quote from: RILWAN on October 08, 2021, 02:26:53 PM

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 agree with what you said that the company can gain in 2 ways. Thru profits coming from the sales itself and at the same time, capital appreciation coming from Bitcoin.
On the other hand though, the company can loss in 2 ways too instead of one. Thru losses coming from the business itself and with capital depreciation coming from Bitcoin.

Lets also take note that this adds risk to the owner of the business since Bitcoin is very volatile, there might be a chance that it will go down at the time when they need to sell it and vice versa. I would love to see businesses accepting Bitcoin though since it adds to the adoption rate and its another way to market it. Maybe in few years, we may see more and more businesses accepting it.

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Even huge businesses will benefit from the convenience that Bitcoin could provide especially during the pandemic situation that we have. That's actually the reason why big companies are now starting to accept Bitcoin because it's too helpful even for international transactions. It could save us from too much hassle. I believe that more businesses would still choose Bitcoin in the coming days.

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Quote from: Lubang Bawah on October 16, 2021, 05:41:27 AM

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

not just that instead how they can earn high as the value of bitcoin now are more cheaper compared to the incoming prices when the adoption finally comes.

if they are aiming to collect bitcoin(as holders) then this is the best way to accumulate more and more bitcoin to be ready in the years to come.

Quote from: Sir Legend on October 13, 2021, 02:44:01 AM

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

it is more on today as the ETF seemingly bringing hype in the market

https://coinmarketcap.com/

i think this will also help more people to understand what this crypto can bring to them .

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The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

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Quote from: cotton ball on October 09, 2021, 02:24:59 AM

the reason companies accept bitcoin is that as a way of paying in business, it can be a solid and promising market today. This is predicted to pave the way for you to face competitors and improve your business performance. We must keep up with the times, we must dance according to the musical instruments being played.

But what about the issue of volatility of bitcoin? Say for example that a person who works from a big company starts to accept bitcoin as a form of his/her salary, yes we could safely say that bitcoin now is on the hype and currently $61k. But what if the value starts to drop dramatically, maybe the remaining option their is to hold that crypto and wait for the market to recover.
Yes truly, we must dance according to the music and keep up with the time. But I still think best that the employee can have an option of to receive the salary by cash (fiat) or in crypto form.

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Since bitcoin is now dominating all over the the world, it will be a welcome development to such businesses that will be accepting bitcoin payment. There are many millionaires in the country who are looking for where to buy goods and pay with bitcoin without fiat money involve. Many investors now prefer to purchase their products to where bitcoin is accept for payment to make things with them.
It will make such business that accept bitcoin payment to be more popular in that particular community because there are many bitcoin users who is looking for where to purchase their goods or services with bitcoin in the environment.

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Quote from: MrcMrc on October 13, 2021, 03:28:58 AM

Quote from: Sir Legend on October 13, 2021, 02:44:01 AM

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

The market rate of Bitcoin is one of the motivation of many businesses that are now adopting Bitcoin in the business. The rate of such companies is on the increase, but this can only be aided if they can use Bitcoin lightning networks to carry out such transactions.

They may looking for adoption but does not count until it happens, there are many countries considering this fact but yet what are their stand now? still on process for years?
let us not count the chick when the eggs are still solid.
bitcoin is really an outrageous innovation for the whole world but appreciation is not enough instead we wanna see understanding and adoption because that will make this market grow much high than what we have had now.

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Quote from: Sir Legend on October 13, 2021, 02:44:01 AM

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

The market rate of Bitcoin is one of the motivation of many businesses that are now adopting Bitcoin in the business. The rate of such companies is on the increase, but this can only be aided if they can use Bitcoin lightning networks to carry out such transactions.

Sir Legend

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The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

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Quote from: sulendra12 on October 12, 2021, 03:19:31 PM

Quote from: RILWAN on October 08, 2021, 02:26:53 PM

So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

Well you did said about volatile so that's one of the reason why some of the big companies or even the smaller ones are not gonna accepting bitcoin as their payment because of how volatile the market is and it could either make the company profit of their bitcoins or things will go in the opposite way. The other reason is transaction fee but it's not a big deal.

Steam was accepting Bitcoin for quite some time but unfortunately they removed it: https://hexus.net/business/news/internet/112973-valve-removes-bitcoin-payment-option-steam/

Well, bitcoin's biggest problem lies only in the fees. however, it seems that almost everyone has accepted it in their business. So far, not only bitcoin, but ethereum and even BNB have also become one of the payment recommendations for businesses, especially BNB because of low fees and fast transactions.
however, this goes back to the regulations in their respective countries. there are so many advantages to adopting bitcoin or other crypto in the business world.
I think steam is just not ready for the fluctuations that exist in bitcoin.

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I think theres a few benefit if business accept bitcoin payment.
1. New marketing opportunity. Telling people that you accept crypto might boost your sales in no time.
2. Lower fees. Credit card payment providers charge merchants 3% fee and more for each payment. Crypto payment providers charge significantly less and can convert those received coins to fiat and send to the bank account, so it’s a good opportunity to save some money for the business.

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Quote from: blockman on October 12, 2021, 04:53:25 PM

Quote from: Ryker1 on October 10, 2021, 04:15:09 PM

Quote from: blockman on October 10, 2021, 12:47:40 PM

Real businessmen are wise, they won't add anything to their business if it's not profitable and helpful. So if there are businessmen that don't want to add bitcoin on their payment option, they're just trying to be wise. But if there are businessmen too that adopts bitcoin as a payment method to their businesses then they're the wisest because they're aware of its volatility and there's two-way for accepting it. One for the actual payment, second for its volatility that they understand and it's another form of business to them.

Well, the term wise is not accurate for me --it should be a businessman that is willing to take a risk or high risk. Accepting bitcoin as payment is also have a risk because if you are the owner and accepting bitcoin in a bull season and then suddenly drop in the next few months it could affect your total sales when bitcoin is down. But if you can able wait until the bull trend is coming, it could be your profit will double but sad to know it has no time frame when it will happen. Willing to take a risk is also a high potential to gain profit.

You know in business, there's already the risk. And upon accepting bitcoin as payment isn't risky to them but holding bitcoin is. The first type of businessman that I've said, they're just trying to be careful and they don't want too much volatility as they're just trying to do business, no other than that. And the other type that's totally fine with it has the experience and is very open to new things like adopting and accepting payment of bitcoin to their products, they're optimistic and sees the potential of it. This is like, you can't just please everybody.

When you do start up a business or investment then risk always accompanied with that and adding up something risky too like Bitcoin then its up to business owners on making such actions whether they do accept it or not.

They would be aware about the possible profits raised if the market turns out to be good and the losses that they could get whenever it dumps down.Just let them be on what are the decisions that they would make.

Some might have some reconsiderations and some wouldnt really have any care at all on accepting or integrating it into their business.

Topic: Reason why businesses should accept Bitcoin payment - page 7. (Read 1246 times)