Topic: What can we do to speed up Bitcoin mass adoption? - page 9. (Read 1523 times)

Recently I read about some physical bitcoin store located in a country that helps people with the guidance on buying, selling and using bitcoin and other cryptocurrencies. The same technique has been mentioned in the above quote.

Physical Bitcoin Store

Think of a physical bank. In my country it is possible to see people without knowledge about banking having their bank accounts and transactions made with the help of the help desk in the banks. Though the support is done through a third person, it makes people know about banking and get used to it. Same as this bitcoin stores can help people know about it and the same will lead to widening of the market.

I still mostly hold the opinion that bitcoin won't be used by the mass majority for payments any time soon. First, they need to know the importance of BTC as a decentralized and scarce asset that you can park a certain percentage of your net worth in. We're nowhere near having most people knowing that just yet, it's mostly still that BTC is a get-rich-quick scheme.

Your view of the situation is based solely on where you live, but I live in a relatively small EU country where Bitcoin is not regulated as a currency, but at the same time it can be used on various online sites but also in physical stores. The fact is that the state cares exclusively about collecting taxes, and all those who operate legally are liable to pay taxes. In addition, sellers use a local payment processor that allows them to get a fiat directly to their bank account, in the end, it is a win-win situation for everyone.

However, one thing we must not forget is that most people do not see Bitcoin as a currency, but as a speculative asset - which leads us to the fact that the volume of such payments would probably not increase significantly even if Bitcoin becomes a legal tender in most countries.

I think you are wrong here.

Legal tender (national currency) - "is a form of money that courts of law are required to recognize as satisfactory payment" (wiki). So it does not mean that you are forced to use it to pay for something. It means that you are forced to accept it if someone is trying to use it to pay for something. So you can legally pay for TV using your PC (barter exchange - Is bartering legal in the US?) if someone else is accepting such payment.

Many shops in my country (especially those close to borders) have 2 prices on each product (national currency and euro) so that tourists could easily pay using both currencies.

Reading this forum, I periodically come across posts that glorious times will come when bitcoin will be used everywhere to buy and sell any services and goods around the world. I am amazed and surprised by the optimism of some people. There is an aphorism that goes something like this: optimists are people who are ill-informed. I'm trying to look at the situation from a realistic point of view and this is what I see.

Residents of any country in the world can officially use only the national currency as a means of payment (if somewhere this is not the case, then correct me). Of course, you can pay in any other currency in a dark alley, if you agree, but the only legal means is always the national currency of the country of your residence. If you look at the situation from this point of view, then why would the governments of any country allow the use of bitcoin as a means of payment? Other currencies are not allowed, but bitcoin will be allowed. Why would governments suddenly be given such privileges for bitcoin? For me personally, this is obvious and my forecasts are pessimistic in this regard. The maximum, in my opinion, that they will allow is to officially invest in bitcoin and generously allow you to share % of the profits with them.

It's funny (or not so) true, once you make a profit, they demand a share of your profits, but they don't minimize your risks in any way and don't compensate for losses. This is a small digression.

Now we come to the point that I would like to discuss.
As you know, bitcoin can be easily used as a currency in p2p transactions and no government has any influence here. But what about legal entities? For example, small shops, bars, etc., where now you can pay with BTC (By the way, there are not so many such places). It must be legally difficult to get it right. And what about those in whose countries it is difficult to overcome bureaucratic obstacles and calmly accept bitcoin in their shop?

Can use the "accept as a donation" option instead of paying? In this case, will it be possible to hold you legally liable in your country? Will government agencies be able to punish this method? I understand that each country has its own legislation, but I know examples of countries where under the guise of "donations" religious organizations enrich themselves without paying a penny of taxes (officially and legally exempt from taxes). For example, this organization rents out rooms to pilgrims (and not only) in its "hotels" and the price list indicates "donation" and not payment for services. With this example, I wanted to show that the model of paying for services / goods under the guise of "donations" is quite real and feasible, and if use bitcoi for this, it can be even easier.

The community is waiting for the world to accept bitcoin to be used everywhere. Maybe it's worth trying actions that will speed this up? For example, encouraging buyers of your store's products or providing car repair services. You can offer a discount if pay in bitcoin. This will be beneficial for the buyer, and you get BTC for your purchases from other people, too, at a discount, or in a pinch, leave it as an investment.

Donation + discount when paying in BTC can be combined. Discounts could encourage people to use bitcoin and bring mass adoption closer through more users. In the end, BTCitcoin should circulate in society / economy, like blood in a living organism, and not stagnate and stale.

What can you say about this option? Will it be legal to use it?