Topic: When will more retailers accept Bitcoin (Read 17161 times)

I think that sellers are not in a hurry to take bitcoin because they just have not heard about it yet and do not know how to use it. If more buyers ask about the possibility of paying bitcoins, then more sellers will start accepting it.

I wish that i was in japan right now because they are very accepting the innovation and the change in the country they are accepting bitcoins almost everywhere that is very nice because here there are some that are accepting but not all but luckily here in our country banks are accepting it in exchange to cash. But for me it will took at least years 2 years from now and they have a lot of retailers that accept bitcoins as a payment.

Retailers accepting BiTCOIN for payment? that's  possible because many of them are cashless method especially in that country like japan. I think they made a simple gadget to have a receipt like using some other buses here in the Philippines small gadget to be use for receipt that's the only method if bitcoin would be a primary use to your country but as of now no gadget are created here. But sooner or later it might be possible our good I.T expert will make a significant Bitcoin gadget for retailers.

Its already happening more and more people gets familiar to bitcoin and businessman considers bitcoin as a payment with their business. Here in my country I have friends who has food cart business and he accepts bitcoin as a payment and its amazing that people are adopting it. I also see this as a advertising bitcoin since there are others who are not familiar with crypto and by the moment they see the sign they start asking what it is.

With the increased popularity of bitcoin it will automatically make bitcoin easy to use and acceptable to all retailers, I'm sure that the trend of bitcoin usage for online shopping will continue to increase and we need not hesitate with the future of bitcoin.

Maybe in just time there are more retailers would accept bitcoin, but of today those retailers are still observing the program of bitcoin on how they can also benefits the transactions of bitcoins in their business.

It is happening.  EVeryday a number of merchants are accepting Bitcoin.  The current news about amazon accepting Bitcoin and google using Bitcoin API to recieve payment is great.  This means thousand of retailers will accept Bitcoin upon implementation.  Just  a bit more time and we will see Bitcoin going mainstream in terms of merchant acceptance.

Government can only create an environment however cannot pressure retailers to start the use of the currency so a long way they have now not changed with the professional prison soft of the country. And at this time, I am now not positive any retailer would favor to take delivery of bitcoin specifically if its personal supplier is not accepting but due to the truth that he would possibly make more losses definitely by simply waiting till the next day earlier than going to trade it to fiat and buy his goods.

I don't know when but hopefully retailers would start accepting bitcoin as a mode of payment. When that happens it would be easier and hassle free on making transactions online. It is good to hear that Japan is leading on accepting bitcoin since it is a well respected country, that means they entrusted bitcoin and believe that it would be helpful for their citizens. I really hope bitcoin would be legalize in other countries.

Nowadays as soon as more people or countries see some development then that is the time they would also follow up. As of now the developments are slowly rising and it has not yet been fully developed

It depends on the popularity of a cryptocurrency if large companies will notice that cryptocurrency is being widely used by different people then there is a huge chance for bitcoins to be implemented on different business and on other countries as well.

i think Bitcoin price stability is a big factor that affect business owners decision to accept bitcoin as mode of payment. As long as bitcoin is on that trend, only small possibilities that retailers will accept this. Actually they are willing to embraced this kind of technology but they still need time.

In my opinion in the future more and more people will enter in the flood of bitcoin use because day by day people from.every field are entering in this field to make something new and grwo Thier existing business .
But still beside of these things there is another a big factor that clearly tells us that use of bitcoin will not be in bulk in retailers shop until government of that country will not clear his own view for bitcoin use , I mean in few countries government are not clear that what exactly they want with the bitcoin whether to ban or unban and also they want tax from the bitcoin use .
So we should wait for the results and views by government rule to see bitcoin to be use at every place .

I do believe that in the future, when many peoples knowing about cryptocurrency, many merchant will accepting bitcoin for payment. Adoption on cryptocurrency is needed if we want cryptocurrency market become bigger

I think we are now waiting for a real use case to give retail investors the confidence that this is not all a hype. XVG's porhub connection is one of them surprisingly enough. We need more of that although I do think the use in this case is limited, who pays for pornography on pornhub?

Never, at least not directly. Cryptocurrencies, namely bitcoin, are set up as a distributed ledger, meaning that every node in the network has to record a transaction for the system to remain secure. There’s also a high level of encryption, meaning it takes a lot of energy to process blocks of transactions. This results in extremely high transaction costs. It simply doesn’t make sense to pay such high fees for a retail transaction, as the transaction fees will be higher than the cost of most retail items.What CAN happen, though, is for microtransactions (ie retail purchases) to take place “off chain.” This means you will have third party payment processors, much like credit card companies, who will hold your bitcoin in a wallet with everyone else’s and keep their own separate ledger. Payments will then be reconciled in very large transactions on chain. It’s no problem paying 30 dollars per transaction if each transaction is very large. For example, it costs way, way less than 1% to transact a million dollars in bitcoin.So you won’t pay for retail items directly with bitcoin, just like you wouldn’t do a bank transfer to pay for something small. Like when you pay with your bank’s debit card, money doesn’t magically appear in the retailer’s account. It’s simply recorded as a digital IOU, with your bank’s reputation standing in place for actual cash. Your bank is simply saying, electronically, that you have the funds to pay and that they will reserve those funds.In reality, though, any retailer who accepts credit cards already accepts bitcoin, along with many other cryptocurrencies. There are already third party payment processors who issue their own visa cards, which can then be used anywhere credit cards are accepted. It works just like a debit card. You send them your bitcoin, and then you can spend it anywhere you can use a credit card. Give bitcoin’s high volatility though, this only makes sense in third world countries, or in places where banking fees are too high. Thing is, for bitcoin to remain trustless, only the large transactions need to be on chain. Basically, bitcoin is digital gold, but unlike the vault at Fort Knox, anyone can audit it at any time with an internet connection. The ledger is public, so anything fishy will immediately be noticed by the community. For example, if a third party payment processor began issuing more bitcoin than they had in their on chain wallet (like if a bank issues more money than they actually have), then it would be immediately obvious to anyone who knew anything about blockchain. Not to mention, they wouldn’t be able to fulfill their promises at the end of the month.Bitcoin’s role isn’t as a transactional currency. It’s meant to provide security and transparency to the transactional currency. When you see the price of bitcoin going up, it’s actually the price of fiat going down. If bitcoin sees widespread adoption, essentially what will happen is fiat currencies will become pegged to it in one way or another. It will act merely as a reserve currency.

The ascent of Bitcoin (BTC) into the financial mainstream has moved society ever closer to an exclusively digital, universally accepted form of payment. Based on revolutionary blockchain technology , BTC provides users a fast, secure and economical means of making purchases or transferring funds. As the technology of BTC gains acceptance among consumers and retailers alike, many businesses are poised to adopt digital money as a preferred mode of exchange.

If bitcoin is really effective to make payments, it has been widely accepted by retailers and has been proven by Japan as a pioneer, I hope Japan is telling the world how easy, practical and many benefits of bitcoin. Thus will be followed by other countries.

I think there is a number of retailers that will do but not all would.
Bitcoin is highly volatile which makes it difficult to actually mark a fixed price on a product for a longer time period.
They can because of the rising popularity of cryptocurrencies which may serve as their investment.

Where im from people only understand and enjoys fiat more than anything. We have more of local retailers who wont in there mind give up fiat for cryptocurrency. Cryptocurrency has to be enforced or taught before retailers here can accept it.