seems a great idea. | Bitcointalksearch.org

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: pakhitheboss on April 13, 2023, 08:04:27 AM

You Idea is awesome!

Quote from: teosanru on April 13, 2023, 12:31:52 PM

Haha, even though your idea is awesome

Quote from: elevates on April 14, 2023, 06:27:00 AM

It is indeed a good idea

I am surprised that everyone thinks the idea is great. Have all you guys not heard this before or discussed with your crypto friends ?
Also, I am wondering why none of you is pointing out the fact that crypto is not a legal tender in India.
Accepting crypto payments at shops or anywhere is against the law.

It's not that I am against crypto or anything but it's not simply feasible right now to convince local shop owners to use crypto payments.
I do wish this happens and we promote the usage of cryptocurrencies but at least don't encourage someone to go against the law.

Quote from: Bureau on April 14, 2023, 08:27:08 AM

Tax on Bitcoin earning would not be a big issue as 30 perct tax is only applicable if you have earned money through trading. To solve that issue the trader needs to show his Bitcoin earning which I think would be easy.

As far as I know, the 30% tax is applicable on ANY form of crypto income and not just trading. So we will have to declare all our crypto earnings and pay tax on it.

Bureau

sr. member

Activity: 490

Merit: 279

I have gone through every single reply on this topic. I was able to understand one single thing which is everyone who replied want every single store to display Bitcoin QR code at all those kirana stores.

As we all know startup culture is growing. Why not work on a start up that works on Bitcoin payment using lightning network? Just adding another QR code won't affect the business of a local vendor.

The problem would be to explain that vendor about the benefits of Bitcoin. Second issue would be on convince the vendor about Bitcoin. I think convincing part would be easy.

Tax on Bitcoin earning would not be a big issue as 30 perct tax is only applicable if you have earned money through trading. To solve that issue the trader needs to show his Bitcoin earning which I think would be easy.

elevates

sr. member

Activity: 756

Merit: 390

It is indeed a good idea but only approach someone whom you know. Do inform him about Bitcoin LN which is very fast. The payment is received instantly just like UPI. To send and receive LN payments you need a wallet such as Blue Wallet or Phoenix Wallet. I am surprised that none of us have ever thought about such a brilliant idea. I think you should give it a try.

cafter

full member

Activity: 448

Merit: 223

Quote from: teosanru on April 13, 2023, 12:31:52 PM

Quote from: cafter on April 13, 2023, 07:17:04 AM

you know our local shops like kirana stores, novelties, hardware shops, etc. all accepts online payments like google pay, paytm, phonepe, upi, etc.

what if we convince our local shop owner's to try accepting payments in bitcoin like sticking a printout(QR code) of wallet address in next to other QR codes(google pay, upi)

in this way our people who are not familiarized with bitcoin will also start to learn about crypto and bitcoin. is it a good idea? anyone will try to convince locals?

Haha, even though your idea is awesome I would suggest you do this only with people you know or atleast are regular customer of. Because suggesting someone this in a country like India is risky, he will see you very dubiously first of all, also he will think that you are manipulating him and you might also have your own benefit. Mostly he'll let it go because of all bad things heard by him on media and if something bad happens to his funds he'll blame you. So beware doing such things here where crypto sentiment is very bad.

yes, when randomly we tell any shopkeeper then, how he will trust anyone and then also in finance category.
but the people we know like our neighbour dukandar and so. then we can try atleast.... just an experiment.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: cafter on April 13, 2023, 07:17:04 AM

you know our local shops like kirana stores, novelties, hardware shops, etc. all accepts online payments like google pay, paytm, phonepe, upi, etc.

what if we convince our local shop owner's to try accepting payments in bitcoin like sticking a printout(QR code) of wallet address in next to other QR codes(google pay, upi)

in this way our people who are not familiarized with bitcoin will also start to learn about crypto and bitcoin. is it a good idea? anyone will try to convince locals?

Haha, even though your idea is awesome I would suggest you do this only with people you know or atleast are regular customer of. Because suggesting someone this in a country like India is risky, he will see you very dubiously first of all, also he will think that you are manipulating him and you might also have your own benefit. Mostly he'll let it go because of all bad things heard by him on media and if something bad happens to his funds he'll blame you. So beware doing such things here where crypto sentiment is very bad.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: pakhitheboss on April 13, 2023, 08:04:27 AM

BTW, you gave me a good idea of a good topic.

How come you have never thought of this before ? I have read about this several times before on this forum.

The issue is that shopkeepers have to wait for at least 1 confirmation before they can confirm that they have received the payment.
So basically they have to stand there waiting for at least 10 minutes before they can leave the store which bothers many.
The Lightning Network solves this issue but we require more knowledge on how to use bitcoin as well as the LN.

Besides that, not every shop keeper is educated enough to understand bitcoin very well.
We all know how even the best of us can make mistakes while using bitcoin.

Then comes taxation and regulatory issues. Bitcoin is not a legal tender in many countries and so we cannot simply accept it as a payment method.
The shopkeeper would face regulatory issues if the authorities find out that they are using bitcoin as a payment method.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: cafter on April 13, 2023, 07:17:04 AM

you know our local shops like kirana stores, novelties, hardware shops, etc. all accepts online payments like google pay, paytm, phonepe, upi, etc.

what if we convince our local shop owner's to try accepting payments in bitcoin like sticking a printout(QR code) of wallet address in next to other QR codes(google pay, upi)

in this way our people who are not familiarized with bitcoin will also start to learn about crypto and bitcoin. is it a good idea? anyone will try to convince locals?

You Idea is awesome! What I want you do is just convince a local shop owner in accepting Bitcoin. If you are able to succeed then do post those pictures on you topic.

I would like someone to dare. BTW I have a few Kirana stores and hardware guys who have made a purchase of a small amount of Bitcoin. I also can post their pictures holding their mobile phone as they have Mycelium wallet.

Do it then post it on the Bitcoin Discussion thread with all the proofs as in pictures. Do hide thier face and buisness name. If you are able to do that you would become a known member on this forum.

Do remember if you try to scam members with fake photos it will make a negative impact and won't help you in the future.

BTW, you gave me a good idea of a good topic.

cafter

full member

Activity: 448

Merit: 223

you know our local shops like kirana stores, novelties, hardware shops, etc. all accepts online payments like google pay, paytm, phonepe, upi, etc.

what if we convince our local shop owner's to try accepting payments in bitcoin like sticking a printout(QR code) of wallet address in next to other QR codes(google pay, upi)

in this way our people who are not familiarized with bitcoin will also start to learn about crypto and bitcoin. is it a good idea? anyone will try to convince locals?

Topic: seems a great idea. (Read 110 times)