When will more retailers accept Bitcoin - page 22.

Potato Chips

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Quote from: eloqant on October 06, 2017, 03:48:17 PM

The key drivers for mass adoption of Bitcoin amongst commercial subjects are two - lower volatility of Bitcoin and friendlier legal and compliance standards. We are still far from such an adoption, I would say that Bitcoin nowadays is rather asset to speculate on than currency to pay with.

i don't think the lower volatility is even possible for bitcoin and should not be included in those key drivers as its beyond reality. although to be honest the second will play a great

role in the coming mass adoption but i think its more of the people will become the key on this mass adoption because if you think it this way, if people or consumers to be

precise, demands for bitcoin then retailers will just follow them. in my own opinion it'll just take time before the mass adoption and the retailers to acknowledge bitcoin and

altcoins

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The key drivers for mass adoption of Bitcoin amongst commercial subjects are two - lower volatility of Bitcoin and friendlier legal and compliance standards. We are still far from such an adoption, I would say that Bitcoin nowadays is rather asset to speculate on than currency to pay with.

ngefek berat

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Quote from: IdVerification on July 14, 2017, 09:57:35 PM

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

The better if a country has received bitcoin well without any tax payment when doing any transaction. I hope next year more countries will start to recognize bitcoin especially in developing countries so that they can change people's lives in order to get better and to fulfill the life of the Economy does not become difficult.

_Dawid_

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So we can say that the change has already come! Japan as we see will lead in this proccess so we can easly say that they will take the biggest benefits from it. Why retailers dont accept bitcoin payments? I think that its price is quite important here. Currently FIATs bring many problems because of price's changes. Imagine what issues could bring the Bitcoin or any other crypto currency changes. When one day price can pump or dump about 10-30%. What is more the finacial regulations are not ready to works clearly and without let or hindrance.

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Quote from: Junko on October 06, 2017, 05:50:51 AM

First before retailers can offer the option of paying with bitcoin, they have to have heard about bitcoin and know what it is. I imagine it is similar to the situation of how there are still a significant number of people who have never even heard of bitcoin. Retailers who have heard of bitcoin, then have to get past all the FUD and consider if the risks vs the rewards associated with dealing with bitcoin is worth the trouble. It seems the number of retailers accepting bitcoin would correlate with the number of individual people who get into bitcoin. As this number rises, so to will the demand for retailers to offer bitcoin as a payment option.

Retailers will start accepting bitcoin if people are willing to pay with bitcoins.
This is a must. And unfortunately the new wave of bitcoin "users" or better say owners is not inclined to do this.
Open a thread with a poll and ask the users here is they would spend their coins or hold them for years and the results are probably going to surprise you. I doubt more than 5% would use BTC to pay for shopping or eating out.

And if retailers check the results of their competitors and see that accepting bitcoin hasn't improved their sales they might not be interested in making this step.
I always thought that hodling might be a real danger for growth.

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Quote from: planfox on October 06, 2017, 06:44:19 AM

Quote from: biskitop on October 06, 2017, 05:35:11 AM

when the situation in the country has made it possible to give license the bitcoin. because the seller will of course sell a variety of products that are also official in the country. so payment must also be with an official payment. when a country has licensed bitcoin, retailers using bitcoin will become a reality.

I agree with it. In our country, many are afraid to take bitcoin as payment, since the authorities can recognize such a deal as illegal and then there will be problems.

Well there's a difference when governments are indifferent towards btc and when they're against it. Even if its not formally allowed, i think as long as it's not illegal, more retailers will eventually accept btc since it will also be convenient to them as well as their customers

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Quote from: biskitop on October 06, 2017, 05:35:11 AM

when the situation in the country has made it possible to give license the bitcoin. because the seller will of course sell a variety of products that are also official in the country. so payment must also be with an official payment. when a country has licensed bitcoin, retailers using bitcoin will become a reality.

I agree with it. In our country, many are afraid to take bitcoin as payment, since the authorities can recognize such a deal as illegal and then there will be problems.

Junko

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First before retailers can offer the option of paying with bitcoin, they have to have heard about bitcoin and know what it is. I imagine it is similar to the situation of how there are still a significant number of people who have never even heard of bitcoin. Retailers who have heard of bitcoin, then have to get past all the FUD and consider if the risks vs the rewards associated with dealing with bitcoin is worth the trouble. It seems the number of retailers accepting bitcoin would correlate with the number of individual people who get into bitcoin. As this number rises, so to will the demand for retailers to offer bitcoin as a payment option.

biskitop

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when the situation in the country has made it possible to give license the bitcoin. because the seller will of course sell a variety of products that are also official in the country. so payment must also be with an official payment. when a country has licensed bitcoin, retailers using bitcoin will become a reality.

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Quote from: Kevin77 on October 06, 2017, 02:27:15 AM

Quote from: lucy1215 on October 01, 2017, 01:35:41 AM

I think that it would take time or years before retailers would accept bitcoin the reason why is because not everyone knows about the existence of bitcoin and some are still afraid to use or invest on bitcoin. But for me it is good to use in purchasing on the retailers for a hassle free transaction.

it will most definitely take a little bit of time and only confidence and more adoptions will make most retailers consider the adoption of bitcoin as payment method.

They are just trying as much as possible to be careful now incase anything changes. A time will come that once the foundation is fully grounded and there is no turning back, then most of them will be certain to make use of it as payment method. Most people accepting now, converts to cash immediately with the help of bitpay.

The retailers are soon to accept bitcoin but they are still hesitating because they are still not comfortable with bitcoin because it is not yet popular and most of the other retailers are not accepting it so that is the possible reason why they are not using bitcoin as a mode of payment but we can see some change for that if bitcoin will become popular and recommended by the big companies.

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Quote from: lucy1215 on October 01, 2017, 01:35:41 AM

I think that it would take time or years before retailers would accept bitcoin the reason why is because not everyone knows about the existence of bitcoin and some are still afraid to use or invest on bitcoin. But for me it is good to use in purchasing on the retailers for a hassle free transaction.

it will most definitely take a little bit of time and only confidence and more adoptions will make most retailers consider the adoption of bitcoin as payment method.

They are just trying as much as possible to be careful now incase anything changes. A time will come that once the foundation is fully grounded and there is no turning back, then most of them will be certain to make use of it as payment method. Most people accepting now, converts to cash immediately with the help of bitpay.

loragean03

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I think its a long process to be, because here at our country, bitcoin is totally famous and more and more people are using this bitcoin, but on some other reasons, more store are not yet know this bitcoin so they didn't implement it yet as a mode of payment. but if that happens it more convenient to us to use this bitcoin to buy some stuff on store without hustle, and im hoping that will be implement soon.

CoinsCoinsEverywhere

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Quote from: Qunenin on October 06, 2017, 12:37:06 AM

I think the reason why retailers not accepting Bitcoin is its price. Bitcoin has no fixed price. Its decrease and increase every minute and second reason is population using the bitcoins . Its true bitcoin is famous but not much,not every person aware about this currency. Come out of this forum and you will find no one knows about the bitcoins.

I think a lot more people know about bitcoin now, but I'm not sure how many people really understand it or know how to use it. Anyone who has trouble with computers will likely have trouble with using bitcoin.

Another problem is that while there is a lot of demand for bitcoins, a lot of that is for investment purposes. If you want more merchants to accept bitcoin, more customers will have to want to use it for purchases.

cryptalt

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Bitcoin is unfortunately not a good currency for small transactions. High fees, slow confirmations are a bad combo. Even lightning only mitigates this for recurring transactions.

Qunenin

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I think the reason why retailers not accepting Bitcoin is its price. Bitcoin has no fixed price. Its decrease and increase every minute and second reason is population using the bitcoins . Its true bitcoin is famous but not much,not every person aware about this currency. Come out of this forum and you will find no one knows about the bitcoins.

So maybe we should wait maybe they start accepting bitcoin in future when every one of us has bitcoins with them and they know how to use them.

dead_m92

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It needs to happen soon, if more shops or brands start to accept bitcoins or any other cryptos, then the market will surely go up because the demand will rise too. I dont know why it is not happening yet, maybe some stores are starting to accept it, but it is a very slowly proccess.
We need more promotion guys, and we need to try to involve more people into crypto, this is the only way that it can happen.

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Quote from: entrepmind23 on October 05, 2017, 09:55:46 PM

Quote from: Colt22 on October 04, 2017, 04:25:11 PM

There is hardly any reason to deny this fact that Bitcoin is for sure a great revolution for all of us in so many ways. It will take little for all us to understand the importance and value of Bitcoin. As far as I think, the retailers will be happily accepting the Bitcoins in the near future. They only want to have confidence on Bitcoin and that’s why they are hesitating yet.

As more stores accept bitcoin, they would be looking at it also because as business owners, they would not want to be left behind. The thing that would make them hesitate to accept bitcoin is because of its volatility. Price of bitcoin is not stable so there would be a possibility that instead of them to have profit, they would end up in a loss because its value go down. It would convince them to accept it as payment if ever all their transactions would be in bitcoin whether it is purchases or sales.

If they buy something from their supplier in bitcoin and then sold it in bitcoin as well then there would be no problem even if its equivalent value in fiat go down because they are accounted for in bitcoin and not in fiat thus there would be no profit or loss in terms of value. The problem with this is that there may be no supplier that would accept bitcoin if they are still spending also in fiat. What is needed is uniformity in usage of bitcoin.

With markets and stores volatility has been considered as a major issue to avoid bitcoin as an acceptable payment source. In my view it needs time for people to understand the goodness of accepting bitcoin, when seen from the outside surely bitcoin features give a bad impression. Only on experimenting can feel the goodness and as a part more such stores worldwide including popular brands have started accepting bitcoin.

Dreamchaser21

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Quote from: tmaleha on October 05, 2017, 09:22:00 PM

Bitcoin will be accepted worldwide by max retail merchant in next few years. It is required one because of the advantage of Bitcoin.

I'm sure for this, bitcoin will surely acceptable worldwide for the future but for now bitcoin should prove his self that he deserved it, as the price movement of bitcoin continues to soar higher I am sure that bitcoin can be one of the major currency that we can use in the future.

entrepmind23

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Quote from: Colt22 on October 04, 2017, 04:25:11 PM

There is hardly any reason to deny this fact that Bitcoin is for sure a great revolution for all of us in so many ways. It will take little for all us to understand the importance and value of Bitcoin. As far as I think, the retailers will be happily accepting the Bitcoins in the near future. They only want to have confidence on Bitcoin and that’s why they are hesitating yet.

As more stores accept bitcoin, they would be looking at it also because as business owners, they would not want to be left behind. The thing that would make them hesitate to accept bitcoin is because of its volatility. Price of bitcoin is not stable so there would be a possibility that instead of them to have profit, they would end up in a loss because its value go down. It would convince them to accept it as payment if ever all their transactions would be in bitcoin whether it is purchases or sales.

If they buy something from their supplier in bitcoin and then sold it in bitcoin as well then there would be no problem even if its equivalent value in fiat go down because they are accounted for in bitcoin and not in fiat thus there would be no profit or loss in terms of value. The problem with this is that there may be no supplier that would accept bitcoin if they are still spending also in fiat. What is needed is uniformity in usage of bitcoin.

craZyLovE0916

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Retailers do technically accept Bitcoin, if you use a Bitpay credit card that is. You can load up your account with Bitcoin and spend it anywhere that accepts credit cards.

Topic: When will more retailers accept Bitcoin - page 22. (Read 17249 times)