Topic: When will more retailers accept Bitcoin - page 18. (Read 17233 times)
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.
This is a good news to us. We are hoping for this one to happen in the near future. Looks like the heaven is on us. If most of the government of each countries will try to accept the endless possibility of Bitcoin, I think many retailers even manufacturers would consider accepting Bitcoins as payment.
When bitcoin can afford a lot of transactions, right now it can't as the confirmation take so long (10-15 minutes). If this problem is solved and bitcoin is regulated at the country where the merchant is located, it won't take long until they will accept bitcoin.
Do you really think that a delay of ten to fifteen minutes is a very big delay,i really do not think so,the only solution we have to find out is the double spend problem and if you could figure that out then you could start accepting bitcoin with zero confirmation . 
I waiting for a time when amazon starts accepting bitcoin and if they do it would be great.full member
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Many places will accept bitcoin and many places do want to accept bitcoin and with it all the other cryptocurrencies, the only thing is it has not gone mainstream and it is too volatile in order to have a steady value, once bitcoin will reach its steady price many retailers and store will accept bitcoin as a payment, if it is not bitcoin it will be some of the altcoins, think about PAY,OMG and a few others.
In the near future? Let's just say within 2-3 years. I think more and more establishments will see the need for them to accept Bitcoin and also other cryptocurrencies such as Ethereum, LiteCoin, Zcash and others. Japan is really pushing it while other countries are having doubts. It may or may not boost their economy by who knows how much percent and to what extent it might actually bring it. So far, most establishment are seeing the need to transition to digital currency and I think it is a good sign.
Depending on their state regulations, retailers have the potential to help the state from the tax sector if using bitcoin, but most are constrained by rules that only allow e-money (fiat) as a means of payment; There should be a trigger from some developers to provide btc-fiat conversion services to be a middle ground between consumers and retail businesses.
Yes this may be great solution for all of the problem that might come with this. Think that most dont want to use bitcoin cuz of this, they will need account on exchange convert transfer to many operations for one payment. Maybe it will be that some major ones use this conversion in real time at least as a test to see how might turn out to be.
Major part in these kind of situation is from the govt. Because it is the govt which will legalize the use of certain payment system. If govt allows the vendors, sellers to use the bitcoin then you would increase in bitcoin adoption for actual purchase of goods and services.
Depending on their state regulations, retailers have the potential to help the state from the tax sector if using bitcoin, but most are constrained by rules that only allow e-money (fiat) as a means of payment; There should be a trigger from some developers to provide btc-fiat conversion services to be a middle ground between consumers and retail businesses.
I think that will take too long to implement that kind of btc-fiat conversion services to be able to patronized for those consumers and retail businesses, because bitcoin wasn't yet educating people in the local communities. Government is the main frontline for this development and in order to make this as reality to all this must be teach to all people around the world so that bitcoin and fiat currency will be more compatible of exchanges, with regards to spending.
Depending on their state regulations, retailers have the potential to help the state from the tax sector if using bitcoin, but most are constrained by rules that only allow e-money (fiat) as a means of payment; There should be a trigger from some developers to provide btc-fiat conversion services to be a middle ground between consumers and retail businesses.
Yes this may be great solution for all of the problem that might come with this. Think that most dont want to use bitcoin cuz of this, they will need account on exchange convert transfer to many operations for one payment. Maybe it will be that some major ones use this conversion in real time at least as a test to see how might turn out to be.
In my country (Philippines), knowing that we are a third world country, I don't think retailers will fully accept bitcoin in the mainstream market. Tho some small online business here are open in accepting bitcoin but they are soooo few. In general, it will all depend on what country will bitcoin be accepted by retailers.
When bitcoin can afford a lot of transactions, right now it can't as the confirmation take so long (10-15 minutes). If this problem is solved and bitcoin is regulated at the country where the merchant is located, it won't take long until they will accept bitcoin.
Do you really think that a delay of ten to fifteen minutes is a very big delay,i really do not think so,the only solution we have to find out is the double spend problem and if you could figure that out then you could start accepting bitcoin with zero confirmation . I waiting for a time when amazon starts accepting bitcoin and if they do it would be great.
Depending on their state regulations, retailers have the potential to help the state from the tax sector if using bitcoin, but most are constrained by rules that only allow e-money (fiat) as a means of payment; There should be a trigger from some developers to provide btc-fiat conversion services to be a middle ground between consumers and retail businesses.
When bitcoin can afford a lot of transactions, right now it can't as the confirmation take so long (10-15 minutes). If this problem is solved and bitcoin is regulated at the country where the merchant is located, it won't take long until they will accept bitcoin.
Do you really think that a delay of ten to fifteen minutes is a very big delay,i really do not think so,the only solution we have to find out is the double spend problem and if you could figure that out then you could start accepting bitcoin with zero confirmation . I waiting for a time when amazon starts accepting bitcoin and if they do it would be great. Retailers will start accepting bitcoins once it is famous enough and when majority of the mass starts using bitcoins in their daily life.The second reason being that Bitcoin is not stable enough for using it as currency.Bitcoin has been legalised only in a handful of countries so there is still a long way for the bitcoins to become a part of our daily life.
This will happen in near future because a lot of store are taking bitcoin as payment and as they will become successful the things will automatically come down to the low level retailers and this thing will be more fascinating and I believe upcoming era will totally depend on the bitcoin and all things revolves around the popularity.You must to know that most of the Bitcoin users are people under 65 years of age.
That is the reason I do not think Bitcoin will be important in our life soon.
Retailers will start accepting bitcoins once it is famous enough and when majority of the mass starts using bitcoins in their daily life.The second reason being that Bitcoin is not stable enough for using it as currency.Bitcoin has been legalised only in a handful of countries so there is still a long way for the bitcoins to become a part of our daily life.
This will happen in near future because a lot of store are taking bitcoin as payment and as they will become successful the things will automatically come down to the low level retailers and this thing will be more fascinating and I believe upcoming era will totally depend on the bitcoin and all things revolves around the popularity.
Retailers face two big issues in accepting bitcoin as payment.
1.Bitcoin not legalized.
2.Its high volatile nature.
Volatility is the biggest problem which retailers face.They may face a loss if bitcoin price falls immediately after they accept it as payment.
Retailers also fear that if bitcoin suddenly gets declared as illegal by the government,then they would have to face serious problems.But if bitcoin gets legalized,then retailers are ready to accept bitcoins even without much bothering about its volatilty.This is what we witnessed in japan where thousands of retailers started accepting bitcoins after its legalization.
1.Bitcoin not legalized.
2.Its high volatile nature.
Volatility is the biggest problem which retailers face.They may face a loss if bitcoin price falls immediately after they accept it as payment.
Retailers also fear that if bitcoin suddenly gets declared as illegal by the government,then they would have to face serious problems.But if bitcoin gets legalized,then retailers are ready to accept bitcoins even without much bothering about its volatilty.This is what we witnessed in japan where thousands of retailers started accepting bitcoins after its legalization.
Sellers are afraid to take bitcoin because of its unstable price, they are afraid to sell the product for too low a price when it falls sharply. I think only those who like risk will agree to this.
Merchants will only start accepting it as a indicates of payment once authorities institutions commence making it possible for it to be a medium of trade. When a place notifies its citizens and tells them that they can now buy, offer, get income in bitcoin then it would be acknowledged by others.
If we want more retailers to be accepting bitcoins or have bitcoin as another form in bitcoin we're gonna be needing to have the government make that happen. It's only simple, the government will be needing to legalize bitcoin and that will be only when other markets will accept bitcoin.
When bitcoin can afford a lot of transactions, right now it can't as the confirmation take so long (10-15 minutes). If this problem is solved and bitcoin is regulated at the country where the merchant is located, it won't take long until they will accept bitcoin.
to make bitcoin adoption accelerated i think government role are the key.nowadays general public need government action to recognize bitcoin and put some rule on it to make people feel secure. that is the main problem i think , government mostly won't adopt bitcoin for now and even tend to don't care about it. waiting the adoption spread widely without government move will take long time.
When bitcoin can afford a lot of transactions, right now it can't as the confirmation take so long (10-15 minutes). If this problem is solved and bitcoin is regulated at the country where the merchant is located, it won't take long until they will accept bitcoin.
to make bitcoin adoption accelerated i think government role are the key.nowadays general public need government action to recognize bitcoin and put some rule on it to make people feel secure. that is the main problem i think , government mostly won't adopt bitcoin for now and even tend to don't care about it. waiting the adoption spread widely without government move will take long time.
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