Topic: Survey Shows Why Walmart Should Accept Bitcoin (For Real) (Read 123 times)
Walmart accepting Bitcoin would be a huge step, and this correlation suggests it's not something vain to do. However, AFAIK, there are some serious taxation issues in the US when it comes to using Bitcoin there. I suppose it's first and foremost related to exchanging Bitcoin to the USD, so perhaps paying directly isn't going to be an issue, but doesn't every transaction call for some taxes if it involves cryptos in the US? Maybe Walmart doesn't want to bother dealing with the intricacies with the authorities, so it's easier to simply ignore Bitcoin. Also, with an average of $50 per customer bill, an average transaction fee of $2.6 is an additional 5% which is not too much, but perhaps not nothing either.
I never understood what's the point of Litecoin.
Nobody understands it, LTC is literary a shitcoin with absolutely no innovation at all. Not a single thing they changed were new at that point!Back in 2011 bitcoin miners were moving to GPUs and it was becoming impossible to mine with CPU so a new shitcoin called Tenebrix used this to come to existence by changing the algorithm from SHA256 to scrypt. But it made the mistake of premining it and very soon people ignore it.
Then Charlie Lee seized the opportunity and created a copy of this shitcoin and used the same design, even the shorter block time (2.5 instead of 5) and removed the premine.
So we can say that the point of Litecoin was to be GPU and ASIC resistant, which we now know was a failure. So LTC is already obsolete.
I could not find any determined source of the figures posted in the article, or how they were collected. For one, people are not obliged to be truthful when taking a survey, and depending on the age bracket interviewed, some may just choose to play around with it, leading to largely inaccurate data.
Walmart would almost certainly not base their discussion on an article, but different cooperations and looking for entry points into the Bitcoin market, and it is only a matter of time others join the likes of PayPal.
Walmart would almost certainly not base their discussion on an article, but different cooperations and looking for entry points into the Bitcoin market, and it is only a matter of time others join the likes of PayPal.
Just another data, so most like +/- and it's not that accurate.
And I don't think that Walmart needs this survey anyways, if they will dab their hands on bitcoin, then do it. They are already one of the biggest not just in the US but globally. And if they saw that bitcoin could be a good option for their client base, they will easily jump on the bandwagon and then it may set precedence for other big chain to join the picture as well.
I never understood what's the point of Litecoin. It just used a different mining algorithm and dropped the block interval from 10 to 2.5 minutes; big deal. Lots of folks bought it, though, back in 2011, and that's probably the only logical explanation it survived all these years. Maybe people preferred it since they could get their transactions confirmed much sooner and due to the low fees.
Anyway, now with the intensive development of off-chain solutions, it's a matter of time until its users move out.
Anyway, now with the intensive development of off-chain solutions, it's a matter of time until its users move out.
It's not only about how many people are holding Litecoin, it's also due the fact it's mined by ASICs, hence the blockchain is pretty much safe.
Plus, afaik, Litecoin did implement this and that before Bitcoin too. With its lower value it has been used by exchanges as a base currency for the very cheap altcoins. And with the fast times and low fees it is considered by many a valid alternative to Bitcoin.
I also agree that's only a copycat. And I guess that if it wouldn't have had the ASICs, it would have been pretty much dead. But with the ASICs in the equation, I am not convinced that people will actually "move out" that much.
A Morning Consult survey published on Sept. 21 has found that frequent Walmart shoppers are two times more likely to own Bitcoin than the average American.
Something looks off for me. I don't know what, but I find hard to believe such relationship between Walmart users and Bitcoin...
I really don’t see a logical connection between someone claiming that a certain percentage of people own Bitcoin, and that they would actually spend that same Bitcoin if it became an option. Most people who invest in cryptocurrencies do so just to make a profit (buy low sell high) and do not treat Bitcoin as a currency - and the proof of this is only about 112 million transactions on the BTC blockchain, which is a trifle if all other transactions go over 500 billion a year.
Walmart is obviously a hot topic right now, but there's no indication that they're interested in integrating crypto payments - and I'm inclined to think that they wouldn't be able to do it so easily even if they had such an intention. The owners of Walmart (Walton family) are reportedly very divided politically, and politics certainly has its fingers in their business. The question is who is stronger, those who are pro-crypto or those who are against?
Walmart is obviously a hot topic right now, but there's no indication that they're interested in integrating crypto payments - and I'm inclined to think that they wouldn't be able to do it so easily even if they had such an intention. The owners of Walmart (Walton family) are reportedly very divided politically, and politics certainly has its fingers in their business. The question is who is stronger, those who are pro-crypto or those who are against?
I could not find any determined source of the figures posted in the article, or how they were collected. For one, people are not obliged to be truthful when taking a survey, and depending on the age bracket interviewed, some may just choose to play around with it, leading to largely inaccurate data.
Walmart would almost certainly not base their discussion on an article, but different cooperations and looking for entry points into the Bitcoin market, and it is only a matter of time others join the likes of PayPal.
Walmart would almost certainly not base their discussion on an article, but different cooperations and looking for entry points into the Bitcoin market, and it is only a matter of time others join the likes of PayPal.
Last week, a bogus press release about Walmart accepting Litecoin, which was picked up by some mainstream media, pushed the price of the O.G. altcoin by almost 30%.
And yet, Litecoin is still manipulated like a puppet. Unreasonably, the most fluctuating one considering its history and market cap.I never understood what's the point of Litecoin. It just used a different mining algorithm and dropped the block interval from 10 to 2.5 minutes; big deal. Lots of folks bought it, though, back in 2011, and that's probably the only logical explanation it survived all these years. Maybe people preferred it since they could get their transactions confirmed much sooner and due to the low fees.
Anyway, now with the intensive development of off-chain solutions, it's a matter of time until its users move out.
A Morning Consult survey published on Sept. 21 has found that frequent Walmart shoppers are two times more likely to own Bitcoin than the average American.
I was really socked what was happen in litecoin and wallmart twitter matter. Lots of crypto investors is in huge loss for this. But now i don't want to talk about that thinga because i am also in loss. But i am really surprised after watching this chart. Almost 39% wallmart users use bitcoin. This is really a huge amount of customer wallmart had. And i don't think so if wallmart accept bitcoin they will be in loss. For me wallmart maybe get more sells and they will be also invest in bitcoin. They can grab more bitcoin. And bitcoin users will be very happy who shop from wallmart. I think wallmart shoulf think about this. 39% is not a joke amount.
A Morning Consult survey published on Sept. 21 has found that frequent Walmart shoppers are two times more likely to own Bitcoin than the average American.
Almost a third of those who visit the largest U.S. grocery chain more than once per week hold the benchmark crypto.
Overall, Bitcoin ownership stands at 16% in the U.S. Only 10% of non-Walmart shoppers have exposure to the top coin.
Last week, a bogus press release about Walmart accepting Litecoin, which was picked up by some mainstream media, pushed the price of the O.G. altcoin by almost 30%.
Notably, the official Litecoin Twitter account also briefly tweeted the fake news. Both Walmart and the Litecoin Foundation were quick to deny the partnership.
As reported by U.Today, founder Charlie Lee blamed the organization's social media manager for the mishap:
"It was wrong to retweet it. We deleted it quickly afterwards. But the damage is done."
Source: https://u.today/survey-shows-why-walmart-should-accept-bitcoin-for-real
Almost a third of those who visit the largest U.S. grocery chain more than once per week hold the benchmark crypto.
Overall, Bitcoin ownership stands at 16% in the U.S. Only 10% of non-Walmart shoppers have exposure to the top coin.
Last week, a bogus press release about Walmart accepting Litecoin, which was picked up by some mainstream media, pushed the price of the O.G. altcoin by almost 30%.
Notably, the official Litecoin Twitter account also briefly tweeted the fake news. Both Walmart and the Litecoin Foundation were quick to deny the partnership.
As reported by U.Today, founder Charlie Lee blamed the organization's social media manager for the mishap:
"It was wrong to retweet it. We deleted it quickly afterwards. But the damage is done."
Source: https://u.today/survey-shows-why-walmart-should-accept-bitcoin-for-real
Jump to: