When will more retailers accept Bitcoin - page 37.

RodeoX

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Quote from: Reid on August 15, 2017, 12:22:14 PM

It will be a hard talk with the retailers.
They will have to consider that bitcoin have a price that is too unstable. It may cost their business to go down or maybe up but that is a risk.
In business, they would always want to minimize that risk so that it can stay for a long time and bitcoin doesnt fit to that yet.

Those are legitimate concerns for a business, but not applicable if you know how. Businesses use a payment processor to handle electronic transactions like credit cards. If they want to avoid price volatility and handling bitcoin then they can simply use a bitcoin processor like coinbase or bitpay. I have helped businesses set up a processor and it is very easy. Once they are set up they can take bitcoin but not touch it. The customer pays with BTC then the processor sends a deposit in dollars to their bank account. It could not be easier and is cheaper and faster for the business than a credit card. There is no logical reason to not take bitcoin. It costs nothing to try and can earn you more when a customer pays with it.

Of course no retailer will do this unless you ~~ask~~ demand it. That is the most important part.

Reid

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It will be a hard talk with the retailers.
They will have to consider that bitcoin have a price that is too unstable. It may cost their business to go down or maybe up but that is a risk.
In business, they would always want to minimize that risk so that it can stay for a long time and bitcoin doesnt fit to that yet.

yugyug

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as long as the value of bitcoin is unstable and volatile merchants and retailer are still on FUD mode besides transaction is still higher while the blockchain processing is still slow once they fix the blockchain network speed and reduce the transaction fee and price stabilizes then many retailers will accept bitcoin.

Vishnu.Reang

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That depends on the type of retailer. If the retailer is mostly dealing with small items with a cost of $1 or $2 per piece, then he may not be interested in accepting direct Bitcoin payments. Who is going to pay $5 in transaction fee, for a purchase of $1?

matchi2011

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Quote from: Carlsen on August 15, 2017, 11:50:28 AM

I am not so sure if the number of retailers accepting bitcoin will increase in the near future.
Right now most people are just sitting on their coins and not spending them.
Accepting bitcoins is something that causes aditional costs for a retailer.
When not enough people use that payment method to cover the costs, it makes no sense from an economical point of view.
And I can imagine that right now this might be the case.

Oh it will increase i'm pretty sure of it. Even now a lot of businesses are alredy taking bitcoin transactions seriously and peer to peer transactions using btc are high among users as well. Bitcoin is the future so its inevitable that businesses and retailers would take advantage of bitcoin

Carlsen

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I am not so sure if the number of retailers accepting bitcoin will increase in the near future.
Right now most people are just sitting on their coins and not spending them.
Accepting bitcoins is something that causes aditional costs for a retailer.
When not enough people use that payment method to cover the costs, it makes no sense from an economical point of view.
And I can imagine that right now this might be the case.

andaresta

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Many will do the bitcoin dilution in the market that will happen in some time, this is when the local or foreign countries also receive bitcoin as a legitimate payment. If the reseller's legal bitcoin gets a name in the market and will be announced.

Ayiranorea

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Quote from: javalemcgee on August 15, 2017, 09:39:52 AM

For more retailers to accept bitcoin, we need more implementations about the bitcoin payment systems. The current payments are slow and subject to high fee.

Depending upon the growth in the price the fee too increases. So when retailers accept bitcoin as a payment gateway surely more than the present Circulation causing price increase can be expected. This year seems to be the best as the retailer market accepting bitcoin has grown to high extent compared to the past year.

Aztek

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Quote from: jc89 on July 15, 2017, 03:24:35 AM

I think more retailers will accept bitcoin if its value will be more stabilized. Especially now that the value is deflating every day. So maybe more retailers are still waiting on what will happen after the hard fork. Retailers are businessmen who are not ready to risk when it comes to transacting with bitcoins. They will need more time to be convinced to accept btc. It's good to invest in bitcoin if you are investing for long term but retailers need cash to run their business.

I think the best reason why people used Bitcoin is because of its price development and progress. So if Bitcoin price will be in a more stable form it may result for a decreased of investment into Bitcoin. So the best way for Bitcoin to become accepted by all form of people is for its price to become a more decentralized current which would maked it more aligned to trading and investments.

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Quote from: IdVerification on July 14, 2017, 10:57:35 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.

Bitcoin will be accepted by more retailers in a certain country , if and only if, it will be legal in the said country. Obviously, retailers will only support it, especially as a mode of payment or currency, if it is legal or also supportrd by the government in that country. Also if it will be demanded in the market itself. They will have to follow the "trend" or what is in demand for them to also, earn and gain profit from their businesses.

AK47-

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Many merchants are accepting Bitcoin and more will definitely follow after Segwit implementation. But the problem is holders themselves wouldn't use Bitcoin for everyday items. They might use it for premium items but not for daily things. Bitcoin being an excellent investment asset because of its deflation property defeats its own use as a currency. So, it really doesn't make much difference in earning of vendors by accepting Bitcoin.

javalemcgee

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For more retailers to accept bitcoin, we need more implementations about the bitcoin payment systems. The current payments are slow and subject to high fee.

bluefirecorp

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Quote from: stepwilli on August 13, 2017, 01:02:30 AM

Quote from: Ayiranorea on August 10, 2017, 02:16:14 AM

Quote from: Shenzou on August 09, 2017, 08:07:40 PM

Quote from: valisa on August 09, 2017, 08:05:17 PM

When more retailers will receive Bitcoin, I think it's just a matter of time, because the more bitcoin the more it uses, the possibility of bitcoin will continue to grow and the price will be more expensive Wink

I agree, bitcoin has already made a huge impact on the internet and the news of it rising up has been the talk of forums and blogs and videos, and i think that the more poeple will join in the soooner it will become widly accepted.

Wide acceptance of bitcoin is found to some extent. This will increase when more people start using bitcoin directly for different purposes starting from purchasing. More retailers start accepting when the people start using it for purchasing in large scale. In the past some retailers started accepting bitcoin and stopped the service all of a sudden, because they didn't gained big through it.

Yes. The increased usage of bitcoins for buying goods, paying off bills etc will push their common use which will ultimately make retailers accept bitcoins as payments. Just like new traders, those retailers also got panicked and gave up on their bitcoins. They must be regretting their decisions now.

If you mean online, then there are already lots of retailers accepting Bitcoin. But as for offline ? Nope, there isn’t any.

Bitcoin won’t be good for offline, that’s why cash is needed. You don’t expect to go to the market and wait for Blockchain confirmation time, and paying fees of almost $2 for everything purchased. That’s crazy. Bitcoin is only for online purposes.

emezh10

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Quote from: IdVerification on July 14, 2017, 10:57:35 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.

I think retailers will accept bitcoin as soon as the consumers will push through their demands that retailers must operate bitcoin as a term of payment. In this situation, establishments will be surely forced to generate the usage of bitcoin because its their consumers needs and wants also to get along with the innovation of currency that is widely spread and used through out the whole wide world.

hdclover

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as soon the block limit issue is fixed there will be more shops accepting bitcoin , i am sure of it.

Oilacris

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Quote from: futile-resistance on August 13, 2017, 10:01:21 AM

Quote from: stepwilli on August 13, 2017, 01:02:30 AM

Quote from: Ayiranorea on August 10, 2017, 02:16:14 AM

Quote from: Shenzou on August 09, 2017, 08:07:40 PM

Quote from: valisa on August 09, 2017, 08:05:17 PM

When more retailers will receive Bitcoin, I think it's just a matter of time, because the more bitcoin the more it uses, the possibility of bitcoin will continue to grow and the price will be more expensive Wink

I agree, bitcoin has already made a huge impact on the internet and the news of it rising up has been the talk of forums and blogs and videos, and i think that the more poeple will join in the soooner it will become widly accepted.

Wide acceptance of bitcoin is found to some extent. This will increase when more people start using bitcoin directly for different purposes starting from purchasing. More retailers start accepting when the people start using it for purchasing in large scale. In the past some retailers started accepting bitcoin and stopped the service all of a sudden, because they didn't gained big through it.

Yes. The increased usage of bitcoins for buying goods, paying off bills etc will push their common use which will ultimately make retailers accept bitcoins as payments. Just like new traders, those retailers also got panicked and gave up on their bitcoins. They must be regretting their decisions now.

Some of them feel like they’re far from it this time, maybe because of price. Asian countries like Japan and China, are always quick in adopting/accepting new technology etc.

But other countries ? Nah, they’re kinda too slow. But we can be sure about the change of trend as new high prices of bitcoin will enforce everyone to adopt/ accept bitcoins either for investments or part of their payment system.

Its not really on how fast country would adopt bitcoin and saying such thing wont really be an easy thing on which we would say that they should accept bitcoin. There still lots of thing to be considered first for a particular country to decide if they would adopt it or not. Japan and China did accept it since they know its capability and potential and hopefully others would really see the same thing too.

ajmapalo22

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I think after 3 more years many establishment will accept bitcoin as a mode of payment because the value is getting higher and the popularity of bitcoin continue to grow

futile-resistance

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Quote from: stepwilli on August 13, 2017, 01:02:30 AM

Quote from: Ayiranorea on August 10, 2017, 02:16:14 AM

Quote from: Shenzou on August 09, 2017, 08:07:40 PM

Quote from: valisa on August 09, 2017, 08:05:17 PM

When more retailers will receive Bitcoin, I think it's just a matter of time, because the more bitcoin the more it uses, the possibility of bitcoin will continue to grow and the price will be more expensive Wink

I agree, bitcoin has already made a huge impact on the internet and the news of it rising up has been the talk of forums and blogs and videos, and i think that the more poeple will join in the soooner it will become widly accepted.

Wide acceptance of bitcoin is found to some extent. This will increase when more people start using bitcoin directly for different purposes starting from purchasing. More retailers start accepting when the people start using it for purchasing in large scale. In the past some retailers started accepting bitcoin and stopped the service all of a sudden, because they didn't gained big through it.

Yes. The increased usage of bitcoins for buying goods, paying off bills etc will push their common use which will ultimately make retailers accept bitcoins as payments. Just like new traders, those retailers also got panicked and gave up on their bitcoins. They must be regretting their decisions now.

Some of them feel like they’re far from it this time, maybe because of price. Asian countries like Japan and China, are always quick in adopting/accepting new technology etc.

But other countries ? Nah, they’re kinda too slow. But we can be sure about the change of trend as new high prices of bitcoin will enforce everyone to adopt/ accept bitcoins either for investments or part of their payment system.

mobilezz

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I think that the sellers would have taken bitcoin if the charges were not so large, because that for small purchases it is not profitable at all. In our country there is still no such possibility.

Lomberjack

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Quote from: IdVerification on July 14, 2017, 10:57:35 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.

I think many retailers will accept bitcoin as a term of payment as soon as bitcoin will be legalize to become a worldwide accepted and credited type of currency due to the fact that many people will continuously engage and involve into bitcoin cryptocurrency that will sure get to push on high demands of bitcoin usage that will push many establishments to generate and operate bitcoin to get along with the consumers wants and needs.

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