Topic: When will more retailers accept Bitcoin - page 44. (Read 17234 times)
Bitcoin is gaining popularity at a very fast rate and i think by the end of 2018 most of the people out their will start to believe in bitcoin
Let's assume I am a retailer/merchant. I sell soups.
So I am selling soups all day for bitcoins. At the end of the day I have to pay salaries, suppliers, rent etc in dollars. So I take my BTC revenue and convert it to dollars.
However, since bitcoin can go up and go down I cannot be sure how much money I will have made in the day.
How are the merchants today accepting Bitcoin? Do they put the price with a huge premium so that they are not exposed to the risk? Like add 10% on top of price in bitcoins.. also you would need to re-label the shelf prices like twice a day.. brr.. too complicated.
Does anyone have any insight?
So I am selling soups all day for bitcoins. At the end of the day I have to pay salaries, suppliers, rent etc in dollars. So I take my BTC revenue and convert it to dollars.
However, since bitcoin can go up and go down I cannot be sure how much money I will have made in the day.
How are the merchants today accepting Bitcoin? Do they put the price with a huge premium so that they are not exposed to the risk? Like add 10% on top of price in bitcoins.. also you would need to re-label the shelf prices like twice a day.. brr.. too complicated.
Does anyone have any insight?
If they accept bitcoin then it will make bitcoin more expensive but there are someone who uses bitcoin there even they don't have retailer they using it and then sell to the people who really needs bitcoins and still make some money to it.
I still think one of the main reasons for this is that there is still not enough people who own bitcoins. Sure there are still the problems with the confirmation time and fees but I think people would be able to find a way to solve that. Like how in the past not every shop have a credit card terminal.
This is why I'm glad the Japanese has decided to turn their eyes on bitcoin. If you can expect anyone to try on the latest stuff, that would be them. Even if it was China that mines most bitcoins, most of their digital purchases are still paid using yuans in apps. Hopefully there'll be a lot of bitcoin innovations that'll come out of Japan that could be applied elsewhere.
When there are more facilities or physical machines that can be used bitcoin instantly, many will adopt it and can be a good way for the growth of bitcoin again. More countries might implement it too soon since Japan and China already did.This is why I'm glad the Japanese has decided to turn their eyes on bitcoin. If you can expect anyone to try on the latest stuff, that would be them. Even if it was China that mines most bitcoins, most of their digital purchases are still paid using yuans in apps. Hopefully there'll be a lot of bitcoin innovations that'll come out of Japan that could be applied elsewhere.
The facilities are a good bonus, though I doubt retailers would start adding them unless a certain percentage of the population becomes acquainted with bitcoins. Provided bitcoins become compatible with microtransactions again, I'd probably take, say 2-5 years more before a sizeable number of stores can start accepting them. This is why Japan's decision is important, people always look at their innovations and then they decide if they also want to try it in their country.
"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.
In Vietnam, I have not seen one retailer that accepts bitcoin payments. Maybe in a few years it will happen in supermarkets, restaurants, hotels ... for example when bitcoin has become popular and uses swipe cards. Currently, bitcoin in Vietnam is only traded online. 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.
Am optimistic that very soon more retailers will start accepting bitcoin and even other crypto currencies. Just that they only need to understand the potential investment opportunity in bitcoin or crypto currency in general, so I believe information is key for more of the retailers to start accepting bitcoin.
One day more and more retailers will accept bitcoin as payment, It will become a standard payment just like fiat maybe couple years from now. Hopefully August 1 update will become an advantage for payment processes and faster confirmation so that more companies will trust the bitcoins decentralize system.
This future can happening when Bitcoin successfully fix issue about time confirm transacton, fees, block size and stable system! I don't know in next time Bitcoin can do that or not, but I see XRP, DGB are crypto have enough condition become to digital cash better than Bitcoin in presentOne day more and more retailers will accept bitcoin as payment, It will become a standard payment just like fiat maybe couple years from now. Hopefully August 1 update will become an advantage for payment processes and faster confirmation so that more companies will trust the bitcoins decentralize system.
This future can happening when Bitcoin successfully fix issue about time confirm transacton, fees, block size and stable system! I don't know in next time Bitcoin can do that or not, but I see XRP, DGB are crypto have enough condition become to digital cash better than Bitcoin in present 
Bitcoin has inbuilt deflation. At present, supply is limited and demand is increasing because of increased interest in cryptocurrencies. With time you can buy more things with same amount of Bitcoin. This make people hoard it and why would people use bitcoin instead of its fiat which is an inflationary counterpart. People are largely using it as an investment unwilling to use it for day to day transactions.
Moreover, because of less market cap it is still very volatile. A small news can bring an instant negativity and hence leads to dip in price which doesn't make Bitcoin ideal for everyday use.
I think in future too the situation will remain the same and Bitcoin largely will serve as an investment asset than a currency.
Moreover, because of less market cap it is still very volatile. A small news can bring an instant negativity and hence leads to dip in price which doesn't make Bitcoin ideal for everyday use.
I think in future too the situation will remain the same and Bitcoin largely will serve as an investment asset than a currency.
The problem of Bitcoin are transactions speed and transactions fee, if both of them can be handle then retailer will consider adapting Bitcoin, but the problem lies in the price volatility, as we know Bitcoin price change every day and for the retail shop who got small profit from the selling will be difficult to adapt it
One day more and more retailers will accept bitcoin as payment, It will become a standard payment just like fiat maybe couple years from now. Hopefully August 1 update will become an advantage for payment processes and faster confirmation so that more companies will trust the bitcoins decentralize system.
Not just USA but rest of the world will accept the bitcoin too in local shops. Just take examples of heavily populated countries like India, china, Europe they have so many options open and they can easily be accepted there. Even there is news that few of the hotels started accepting bitcoin in India. It wouldn't be that far when everyone will realise the use of it.
As many said i would surely agree with them bitcoin is indeed volatile currency and many businesses can be affected because of this for the good or the bad, i asked few retailers that what's the reason for not accepting bitcoin even though you are a holder and they said " Bitcoin is good and i have got good profits but we normally have to make payments to the vendor next day and if we accept bitcoin we will have to convert daily which won't be possible everyday and as you see the price has falled by a great margin so we may start the day with $2300 but price ends with $1900 in long run i know price will increase but in order to pay the vendor i will have to sell at a huge loss" . This kind of makes sense and only the huge stores can afford to make a move like this. Don't always blame the retailers think from their point of view for once.
If BTC shows more stable nature and comes out of speculation mode, then possible that we could see more real use of it on shops and stores.
If bitcoin was stable it would still be at $0.001 and I'm sure most holders won't care much if retailers don't accept bitcoin if price becomes stable profit will reduce significantly for holders and no one really wants to see a situation like this.
If BTC shows more stable nature and comes out of speculation mode, then possible that we could see more real use of it on shops and stores.
"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.
Retailers owners will accept bitcoin payment if they use bitcoin, if they consider bitcoin is profitable for their business.
So, if you want more retailers accept bitcoin, go on and ask them : what do they think about bitcoin? whether they want to use it or not, show to them bitcoin advantages and disadvantages. But, I doubt they will accept bitcoin if it still have two major problems regarding high fees and confirmation time.
"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.
No, right now it would make very little sense to see an expansion of Bitcoin within the west. There isn't really a massive boots-on-the-ground community within the United States, especially when you compare the population sizes, and most people are not doing anything to make it massive thing within the US mainland. For online retailers there may be a bit more encouragement, but even then the ones that used to accept it have dwindled. That says one of two things: the demand isn't there, or people want the option but don't want to spend anything yet.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.
"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.
No, right now it would make very little sense to see an expansion of Bitcoin within the west. There isn't really a massive boots-on-the-ground community within the United States, especially when you compare the population sizes, and most people are not doing anything to make it massive thing within the US mainland. For online retailers there may be a bit more encouragement, but even then the ones that used to accept it have dwindled. That says one of two things: the demand isn't there, or people want the option but don't want to spend anything yet. 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.
"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.
Retailers will start adopting bitcoin in all most countries the moment government gives them the go ahead and also ensure that there is massive publicity about it because by the time the total number of people in the crypto world is divided according to country basis, the figure remaining might not be enough to make a change for big retailer to spend funds on putting the necessary infrastructures in place to ensure the acceptance of bitcoin. Another reason is that if the timing of confirmation is settled and the price is more stable, then I see them accepting bitcoin until then, we just have to wait.
I wish I could spend my bitcoins locally or even in my country at all (easily). Although it has helped me hang onto them and earn quite a bit over the years.
Same is the case here, I had quite decent earnings with the bitcoin and still it is doing great job for me in regards of earnings and adding some extra amount to my monthly income. But there still is no spot in my country to spend the bitcoin that I earned. I need my local currency for each & every payment that I have to make for billing etc.
more retailers will accept BTC when there are more user friendly apps to complete payments and greater adoption in that particular retailers market
in my opinion there are a couple of things that are preventing retailers from accepting bitcoin:
1. people who own bitcoin are a lot but people who are willing to spend bitcoin are very little. this means the possibility of little to no customers.
2. price is volatile still. it has been becoming less volatile but we can see drama like blocks and split can cause bigger volatility again!
3. fees. although they have come down ever since spam attack stopped but if they go up again and remain high people will be even less willing in spending their coins.
4. things such as chain split. which are scary and nobody wants a scary currency when there is fiat.
when these change, more retailers will accept bitcoin.
I accept that the number of people spending bitcoin is less but it due to the lack of opportunities to spend bitcoin. I haven’t seen any store yet that accepts the bitcoin directly, this is the hurdles that keep on the users saving it or converting the bitcoin into fiat. 1. people who own bitcoin are a lot but people who are willing to spend bitcoin are very little. this means the possibility of little to no customers.
2. price is volatile still. it has been becoming less volatile but we can see drama like blocks and split can cause bigger volatility again!
3. fees. although they have come down ever since spam attack stopped but if they go up again and remain high people will be even less willing in spending their coins.
4. things such as chain split. which are scary and nobody wants a scary currency when there is fiat.
when these change, more retailers will accept bitcoin.
I guess people will start spending bitcoin once they find a cool place where bitcoin is accepted as a pay method.
Jump to: