Topic: When will more retailers accept Bitcoin - page 32. (Read 17249 times)
I think when bitcoin was widely acceptable. When it is already legal on all country. It is not far because bitcoin is acceptable in other country and becoming legal it world wide is not impossible. Retailer also need an assurance that their business will not be busted after accepting bitcoin as payment.
it could come true, but can it guarantee the security of our account? any tool based on the application installed on the smarphone would be very easy to hack.
"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.
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.
That's good to see that more and more stores are coming forward to accept crypto currencies. It is a real good news for people like me. However, there are many challenges to accept crypto currency for physical store transactions. Let me list out a few for you.
First is the confirmation time, The average confirmation time for bitcoin is around 20 minutes only if you pay high fees. So you will have wait for 20 minutes at the billing counter to actually get the goods you purchased. Also you will end up paying high fees which may not be feasible for small purchases.
Second is the dynamic pricing of bitcoin. Bitcoin price can go to any level within 5-10 minutes which makes the stores vulnerable to exchange rate risk. The product you bought for 10 USD using bitcoin, can be priced at 5 USD after 10 minutes based on the prevailing market rate. It can increase as well as decrease. So that's a risk to the store owners. These are two basic factors why stores worldwide are not accepting bitcoin as a currency.
I think that this will happen soon, because taking bitcoins by sellers will lead to higher prices for goods because of high fees. For small purchases, this decision will be very unprofitable.
Yes this condition is not very profitable, so try to buy maximum amount of bitcoin or if you want to sell then try to sell maximum amount of bitcoin, because in this way you fees will no effect you profit and you will get what pretty much secure future for you bitcoin, and I hope sooner when retailers accept bitcoin then this profit margin will increase further more.Waste? Lols.
You mean giving BTC a purpose to exist in this world.
If nobody would be selling and clearly buying bitcoin also being impossible , with no one buying stuff with bitcoin and for sure no shop accepting bitcoin as they have no customers , what do you think the value of BTC would be?
Not so hard to guess.
What was the value of BTC befoe the first pizza was bought for 10 000 BTC.
0.
And that is the value it will return if nobody is using it and treating it like an "investment".
What I think and in my experience is that people will use Bitcoin when stability comes to the market.
What most people who is no-tech related, talking about Bitcoin is sooo overwhelming. Now imagine you tell them that the currency has variations every second and that in one month they can lose money, and in another month they can win up to 100% (like it happened two months ago)
What most people who is no-tech related, talking about Bitcoin is sooo overwhelming. Now imagine you tell them that the currency has variations every second and that in one month they can lose money, and in another month they can win up to 100% (like it happened two months ago)
Right now it's almost impossible for more people to use bitcoin.
We are constantly hitting full blocks so more transactions are impossible to go through.
This is the current limit so no, without people using segwit there is no growth in usage.
I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Yes, it will be unprofitable for some retailers, and I believe much has been done to convince people to start making use of Bitcoin. So nothing has to be done again. It’s now left for them to choose whether to make use of Bitcoin or not. I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin.
Maybe a few more years bitcoin users increase and more retailers who receive bitcoin as a means of payment in the transaction will greatly facilitate us bitcoin users.
I think that this will happen soon, because taking bitcoins by sellers will lead to higher prices for goods because of high fees. For small purchases, this decision will be very unprofitable.
Yes this condition is not very profitable, so try to buy maximum amount of bitcoin or if you want to sell then try to sell maximum amount of bitcoin, because in this way you fees will no effect you profit and you will get what pretty much secure future for you bitcoin, and I hope sooner when retailers accept bitcoin then this profit margin will increase further more.
What I think and in my experience is that people will use Bitcoin when stability comes to the market.
What most people who is no-tech related, talking about Bitcoin is sooo overwhelming. Now imagine you tell them that the currency has variations every second and that in one month they can lose money, and in another month they can win up to 100% (like it happened two months ago)
What most people who is no-tech related, talking about Bitcoin is sooo overwhelming. Now imagine you tell them that the currency has variations every second and that in one month they can lose money, and in another month they can win up to 100% (like it happened two months ago)
The reason for the indifferent way btc has been treated even with the retailer shops is because of the so many of its disadvantages but the main of all reasons is because it has not been legalised.
Once government comes into it & puts an approval on it, the awareness grows likewise acceptance .
Once government comes into it & puts an approval on it, the awareness grows likewise acceptance .
"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.
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.
Here in Israel they have retailers and restaurants accepting bitcoin and other cryptocurrency as payments.
I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin.
I have read that there will be a big retail in Russia that will soon implement bitcoin later this year, if this happens then is the first official retail that will inspire other companies, we don't always think of fluctuations/volatiles because bitcoin is far more profitable than fiat. This system will adapt to civilization and require drivers for btc implementation on real business.
"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.
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.
That's good to see that more and more stores are coming forward to accept crypto currencies. It is a real good news for people like me. However, there are many challenges to accept crypto currency for physical store transactions. Let me list out a few for you.
First is the confirmation time, The average confirmation time for bitcoin is around 20 minutes only if you pay high fees. So you will have wait for 20 minutes at the billing counter to actually get the goods you purchased. Also you will end up paying high fees which may not be feasible for small purchases.
Second is the dynamic pricing of bitcoin. Bitcoin price can go to any level within 5-10 minutes which makes the stores vulnerable to exchange rate risk. The product you bought for 10 USD using bitcoin, can be priced at 5 USD after 10 minutes based on the prevailing market rate. It can increase as well as decrease. So that's a risk to the store owners. These are two basic factors why stores worldwide are not accepting bitcoin as a currency.
It is possible for developed countries to know their average citizen is already familiar with bitcoin, so they easily receive payments with bitcoin.sedangkan countries, for example in my country people who know bitcoin maybe only about say 20%, and for bitcoin transactions may be only in the city While in the small town town bitcoin does not apply at all as a means of exchange of money.
Yes, in big cities, it is easy to push the use of bitcoins for common purpose because people are mostly quite modern and educated in cities whereas in towns, first we need to work hard to spread knowledge about bitcoins. The markets and businesses that have started bitcoins as payments are all from developed countries. i don't think think having a big country or developed country has any significant connection regarding peoples awareness, acceptance and understanding about bitcoin.
i mean having a big city or a developed one doesn't the people who lived their are knowledgeable about technologies and open minded as well. if that is true then those big
countries would have accepted bitcoin like japan did.
I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin.
I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin.
I think that in poor countries and in villages, bitcoin may not be accepted at all as a payment, as there is likely no one heard or used about it there. Even in developed countries, not everyone now agrees to use it.
Once governments and other big business institutions start accepting bitcoins then other retailers can also start accepting bitcoins as a mode of payment and it would be a favourable decision to the whole world at large.
I think it's starting alresdy. I was able to browse several vendors who has indication that btc is accepted. With bitcoin's quick rise this year, more people will be looking to invest and bitcoin is ready to go to the moon as they say
Once governments and other big business institutions start accepting bitcoins then other retailers can also start accepting bitcoins as a mode of payment and it would be a favourable decision to the whole world at large.
I think that this will happen soon, because taking bitcoins by sellers will lead to higher prices for goods because of high fees. For small purchases, this decision will be very unprofitable.
Yes this condition is not very profitable, so try to buy maximum amount of bitcoin or if you want to sell then try to sell maximum amount of bitcoin, because in this way you fees will no effect you profit and you will get what pretty much secure future for you bitcoin, and I hope sooner when retailers accept bitcoin then this profit margin will increase further more.Jump to: