Topic: Using Crypto at Gas Stations - page 4. (Read 1173 times)

Even if you knew about blockchain and cryptocurrency it will still be a hard thing to accept cryptocurrency as a payment for crypto is very volatile so profit is not guaranteed. It will take us very long road in able to get closer to that kind of world where we can use crypto as a payment for our daily needs. For now i hope that blockchain and cryptocurrency will go towards being mainstream so that we can attain that kind of vision.

Why you need a different token for that, it can be done using bitcoin, if we keep on creating more tokens and crypto for every specific use then we will not see the real adoption and we will see the opposite reaction. We need to look for some company that can come up with a solution with bitcoin that can be used in petrol stations worldwide and that should be the ultimate adoption.

High volatility in cryptocurrency makes the use in real life by vendors almost impossible. If I'm a gas vendor, I will most likely not accept payment in cryptocurrency if I don't understand the concept behind it. If I don't also know how to handle my keys I won't accept it if I can't keep up with the market to avoid loss I won't accept it either.

Not only in your coutry, but most of the countries people is afraid using their mobile phone, also it is prohibited using mobile phones in a gas station. It is a bad idea since there are risk of using phones in a gas station.
It is true, they will prefer to use fiat instead, however, if crypto will be develope more, maybe this could possibly happen in the future. The idea is good, but the thing is, this community still lacks the capability to implement it.

Definitely it is a good idea but why we need one more token? If the existing cryptos like bitcoin or stable crypto can be used for this purpose when gas stations are ready to accept it.

For gas station, in my country if it possibly happen, maybe only a few who will do it. This is just if because in my country no other than fiat can be used as payment. Since people will afraid to use phone in gas station, people will faster to pay with physic money because sometime it will need time when people pay with other payment.

The plan put forth in the opening post is really good to increase the market for cryptocurrency. Particularly if any of the firm with partnership starts tokenizing the services of the oil industry surely it'll gain good return. This is quite a complicated process as a large network tie-up is required to make the oil industry within the smart contract.

Not sure how this will work since crypto is highly volatile in nature, gas stations does have huge transaction everyday I don't think they will take this risk because a sudden dump might cost a huge loss to them. And they might also face legal consequences, but I think they might entertain stable coins like "Tether".

This could work if designed as a subscription offer for gas. Like pay for certain litres of gas with crypto at a time then head off to your gas station to redeem your gas by refilling your tank?

Well it seems like a thing in the future
I mean anything that is related to storing data/transactions detail can be good with blockchian

It is just the matter of time imo

As the world makes many changes, at some point I do agree with your opinion that this concept can be used not only in the gas station around. Accepting cryptocurrency as a payment in a frequently used system will surely help to improve adoption. As many alts were producing like the aci coin. In fact, it is so useful to change the payment system in all stores, not just only at gas stations and many more establishment that offers man needs.

I think if cryptocurrency price is still up and down drastically and still played by whales, i'm sure crypto won't adapted as a mass adoption because people could manipulate the price and could buy anything that they want with lower price and it cannot be implemented in a realworld

Using QR code to is applicable. There is a system in my area where you use G-cash by just scanning the QR and you'll be able to pay it. It can be adopt by bitcoin too in terms that there is a specific wallet that both gasoline station and customer will be use.

Well, we can actually implement some other optiins like putting up the funds in a card where we only need to tap it to pay amounts we need or else is to pay thr gasoline in a distant counter, as simple as qr scanning will do, becauss most of the time, we get tired especially if it is a public transportation and we're late, the driver needs to ciunt his money first for payment but with crypto, transactions will be faster.

This will happen soon. As time passes, mass adoption of cryptocurrency is increasing with business communities accepting cryptocurrency as a method of payments and some countries issuing their own digital currency. Even China, which came down heavily on cryptocurrency, is now becoming flexible and is reported to be issuing its own digital currency. So I am very optimistic about it.

Good point. Still, a proprietary token might become useful for tracking gas sales and other sorts of stuff. It could also reduce the burden on the main Bitcoin blockchain, as transaction processing is done on a much scalable chain (in this case, Ethereum). The ICO days of 2017 greatly introduced new ideas to the industry (although I'd have to admit that most projects were scams). In today's regulated (sort of) crypto world, a company could simply launch an STO to raise funds for this kind of business model. Gas stations could use a separate ERC-20 token that would give perks to customers, and more. Still though, it's possible that a mainstream company would want to use an existent cryptocurrency that's capable of processing large TPS in a short time frame. They could either use Bitcoin's Lightning Network or Dash's "InstantSend" feature for settling payments at Gas Stations. The possibilities are endless here.

A full-serve gas station with an automated cashier accepting crypto payments seems to be quite revolutionary in the transportation industry. But for something like this to become a reality in the future, there needs to be demand from people in the mainstream world. At least, the idea is there. We'll have to wait and see if a mainstream company becomes interested in accepting crypto payments at Gas Stations for the benefit of all. Just my thoughts

I think this is a very good idea to increase the mass adoption of cryptocurrencies, but this concept will be very difficult to run in my country.  currently, 90% of gas stations operating in my country are state-owned (state government business) in order to use currency crypto at the gas station then the government in my country has to legalize the cryptocurrency and until now my country's government still does not recognize crypto as a means of payment..  I think it needs a difficult struggle.

All I would say is why do we need another Altcoin diversification which could pave way for another unnecessary trading or scam kind of thing if the team members run away with the money? ICOs have possibly been one of the smartest scams which were happening over in the cryptocurrency industry in the 2017-18 era. Many companies which weren't really well aware of the technology have been starting up various ICOs and has scammed newbie investors who have thought that as a way to get rich quickly. I don't really have a good solid state of opinion on majority of the stablecoins, but some are quite really good and have the proof of their fiat funds.

Why should a company create a token separately for gas when we have Bitcoin with us? Bitcoin is meant to be used as a currency and we could use them in gas stations if they really accept these currencies. All we need is the adoption and I believe they are not really far away. Imagine a world where gas station accepts bitcoin and the user pays their charges in bitcoin! Once when the station got to receive the money, fuel would be filled by then! Why should we create an unnecessary token here which could pave way for further scams when they were traded badly? Another point is that, will everyone use the same token?

That will need interconnection from whole of blockchains in the world. Remember even the cross blockchain platform is not alive yet as so many blockchains didn't give the permission for the developers to create a cross blockchain platform that connected one to another blockchain. This idea is so difficult to be real as the development is not easy caused by any blockchain has the different construction and that needs a very long time development.
Not so many cross blockchain platforms are exist these days.

Some companies are starting to use crypto. However, it may take time for a big company to create their own coin to be used for their services. Once big companies have seen the advantage of crypto being associated in business, this can push other companies to adapt and associate crypto in their businesses.