Topic: Reasons of why bitcoin accepting shopping sites are not famous - page 2. (Read 1672 times)
The reason could be as simple as most of the bitcoin accepting sites are just not famous. They were not famous before accepting bitcoins or are famous after accepting. In my opinion bitcoin users like to spend their bitcoins on products of some specific categories and if a bitcoin accepting store have these products then advertising in a proper manner might make that shop a bit popular. When Steam and Fiverr started accepting bitcoins it was a big news because both of them are well established brands. Accepting bitcoin is not simply going to make a shop popular unless you have targeted products for the bitcoin users.
bitcoin is currently developing. and in fact is not yet widely-known e-commerce are adopting bitcoin as a medium of payment.
but already there are some large companies that accept bitcoin, bitcoin will continue to grow and expand their services.
but already there are some large companies that accept bitcoin, bitcoin will continue to grow and expand their services.
Yeah, bitcoin is in developing. Bitcoin I think the future will be accepted by other large companies.
And the reason why the company, especially shopping sites are not popular in accepting bitcoin is the price is not stable, just imagine if the bitcoin price keeps changing that make price at the site changing too. Hehe Thank you
1. Most bitcoin accepting online sites are already super famous
Sites like Microsoft, Steam are already established players in the industry.
2. Shopping sites? Other than the need to have anonymity by not using credit/debit or fiat to avoid tracking of identities, for now, bitcoin transactions are too slow.
Say a site wants to have a sudden speed sale? It will turn into a slow sale by the time you confirm bitcoin payments with the huge mempool now.
Side note thought, the real bitcoin "shopping sites" are in the dark corner with all the mostly non legit services. Then again, I wouldnt really call those sites famous.
Sites like Microsoft, Steam are already established players in the industry.
2. Shopping sites? Other than the need to have anonymity by not using credit/debit or fiat to avoid tracking of identities, for now, bitcoin transactions are too slow.
Say a site wants to have a sudden speed sale? It will turn into a slow sale by the time you confirm bitcoin payments with the huge mempool now.
Side note thought, the real bitcoin "shopping sites" are in the dark corner with all the mostly non legit services. Then again, I wouldnt really call those sites famous.
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Considering a number of bitcoin users and their behaviour which are mostly not so consumptive that majority of bitcoin users are only spending their money for investing or any financial things. They're probably really not attracted to implement bitcoin which is could be definitely wasting their resources and time for nothing, though, most of the online stores which sell such techy things like domain, VPS, and hosting are now starting to accept bitcoin widely.
In my opinion, those store aren't necessarily needed for fulfilling my real life expenses while there's bitcoin debit card existed.
In my opinion, those store aren't necessarily needed for fulfilling my real life expenses while there's bitcoin debit card existed.
bitcoin is currently developing. and in fact is not yet widely-known e-commerce are adopting bitcoin as a medium of payment.
but already there are some large companies that accept bitcoin, bitcoin will continue to grow and expand their services.
but already there are some large companies that accept bitcoin, bitcoin will continue to grow and expand their services.
There is still alot of negative stigma towards Bitcoin, which means that users are concerned whether the site is legitimate, meaning it is much harder for small companies to start accepting Bitcoin.
Well, you're generalising a crapton. I may go as far as to say you're hideously exaggerating.
Most of bitcoiners are screen addict. They prefer to spend their btc on gambling sites than to buy stuff.
Well, you're generalising a crapton. I may go as far as to say you're hideously exaggerating.
The reason why a lot of shops on the internet aren't implementing bitcoins is mainly because it's price isn't stable and fiat $$ is what works in this world.
Some companies actually started solving this such as Bitpay which takes the bitcoins and sends cash to the companies. That's good.
Another reason for them not to accept btc directly is because it will need a team/staff to learn how to deal with it and how it works it might be simple in your eyes but it really isn't as in business you don't spend on something except it gets much more than what you spent.
I think companies will start implementing it one by one once they realize that it has a great buying potential.
Some companies actually started solving this such as Bitpay which takes the bitcoins and sends cash to the companies. That's good.
Another reason for them not to accept btc directly is because it will need a team/staff to learn how to deal with it and how it works it might be simple in your eyes but it really isn't as in business you don't spend on something except it gets much more than what you spent.
I think companies will start implementing it one by one once they realize that it has a great buying potential.
They will be famous soon as bitcoin goes more mainstream thanks to smartphones and bitcoin wallet apps. Well, majority of people are now using smartphones and so mobile payment is becoming more of a payment option and that includes bitcoin wallet apps. I remember reading an article about this that and more and more people use smartphones, mobile payment will become the first choice of payment. When that happens, many stores will support bitcoin payments via bitcoin wallet apps.
It's true that many mom and pop websites accept bitcoin in an effort to attract more customers but BTC certainly isn't the reason they are not "famous". But there's no reason to correlate their acceptance of BTC with the size of the businesses because bitcoin as just another payment option certainly isn't holding them back.
We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites. The reason is that these online shopping sites do not advertise their sites they even do not advertise on here which is the biggest bitcoin community and where they do not need any higher budget for advertising but can start a smaller signature campaign.
Companies in general are just resistant to change, there are many red tapes involved with trying to implement a "new payment system" like Bitcoin, and requires ton of training of staff to get them to understand what's going on too. Not as simple as just "oh hey let's setup bitcoin payments today".
Even then, for the common man, Credit Cards are WAYYYYY easier to use than Bitcoin right now, even if you have a bitcoin debit card. And hence most people don't see the need to switch, coz in fact their existing way of doing this is already better!
Sure BTC has lower fees and all, but we must not discount exchange fees, currency exchange loss, and other fees.
Companies will implement bitcoin if they think it will make them profits.
However, it is clear from cases like Overstock, that despite implementing bitcoin payment, and getting MASSIVE publicty about it, bitcoiners themselves refuse to use the service. According to Overstock less than 1% of their revenue is through bitcoin. See
http://www.coindesk.com/into-the-war-room-overstock-looks-back-on-bitcoin-embrace/
The problem is that bitcoiners like the idea of shops enabling bitcoin, but they refuse to spend their coins, they're hoarding in case bitcoin goes to the moon.
It means bitcoin is a failure as a currency, and has turned into an asset (because of fixed number of coins). I expect that when an inflationary coin becomes popular, people will then spend it - but that future belongs to an alt like doge or steem.
The main profits come from the masses who dont currently use bitcoin so the incentive to add it as a payment option is less. Things are slowly changing, more sites than ever before take BTC right.
BTC payment was not famous because in some countries, Bitcoin is not legal so it is not advisable for online shop to accept because it was not available around the world, Besides that , only few percent around the world are crypto oriented that's the majority of online merchant will not take a risk to venture out if there is no huge possible customer that used it on current days.
Only reason that big online retailers are not offering bitcoin as payment is because of its volatility. They know that the price of bitcoin fluctuates so how can they profit if that is such a case? And not many people out there know about what bitcoin is, so they would rather have paypal or other payment options instead of bitcoin.
The main profits come from the masses who dont currently use bitcoin so the incentive to add it as a payment option is less. Things are slowly changing, more sites than ever before take BTC right.
the only problem is that people either don't know about bitcoin or they know about it but they are not willing to spend any of it because it is their investment and they want to become a millionaire overnight by holding it tight.
otherwise if you know about bitcoin (not just know it exists but know what bitcoin offers you when you use it, like the features or benefits whatever you want to call it) you can easily find places to buy stuff you need. and even with good discounts.
otherwise if you know about bitcoin (not just know it exists but know what bitcoin offers you when you use it, like the features or benefits whatever you want to call it) you can easily find places to buy stuff you need. and even with good discounts.
I think the reason why online shopping site are not accepting bitcoin as their payment system is because bitcoin is not stable on its price and some of the online sites see that as an disadvantage because they can't have a fixed money when they received the bitcoin as a payment. And another reason for sure is they are not familiar with digital money .
We are not talking about this, but about the fact that shops already accepting Bitcoin do not advertise much this possibility. Another false information about your post is that most shops accepting Bitcoin must take a risk. That is false. Most of them, if not all of them, accept Bitcoin via BitPay, which takes the bitcoins and give fiat money to the website. So no risk at all for the shops.
I think the reason why online shopping site are not accepting bitcoin as their payment system is because bitcoin is not stable on its price and some of the online sites see that as an disadvantage because they can't have a fixed money when they received the bitcoin as a payment. And another reason for sure is they are not familiar with digital money .
One thing I know. It is neither bitcoin fault nor the advertising part.
We are all used to seeing MasterCard or Visa as a means of payment when brought to a television station.
It is not that easy to make it happen.
Paypal have spent so many years to earn that and bitcoin is still starting.
I know someday it will be known. We just have to be patient.
We are all used to seeing MasterCard or Visa as a means of payment when brought to a television station.
It is not that easy to make it happen.
Paypal have spent so many years to earn that and bitcoin is still starting.
I know someday it will be known. We just have to be patient.
We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites. The reason is that these online shopping sites do not advertise their sites they even do not advertise on here which is the biggest bitcoin community and where they do not need any higher budget for advertising but can start a smaller signature campaign.
using bitcoin can attract another type of customer different from "classic" customer.
likewise more nerd, with an high technology expertise, and much more. Some time accepting bitcoin is a really marketing choice.
We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites.
Despite the terrible syntax of that sentence, I think I sort of get what you're saying. People find it difficult to spend Bitcoin online because major retailers don't accept it yet.But I think the major retailers know what they're doing. They're only going to accept Bitcoin if there are legitimate business reasons for doing so, which I would argue there are not. In reality, they would get very few payments in Bitcoin and I doubt it would be particularly viable for them, especially when they're afraid of the risks associated with it, such as volatility.
I don't think they would accept Bitcoin while it's as volatile as it is because it would accept complex monitoring of exchange rates and instant conversion to fiat since in reality they're not dealing with Bitcoin and earning profits in it.
That is because those big websites added Bitcoin just as a secondary option, to maybe drag some people to them, but this is for sure not an offensive strategy to get customers. That is simply because Bitcoin customers are too few, so that would not be worth for them to spend more money on advertisement than they would get.
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