When will more retailers accept Bitcoin - page 45.

Termin4tor

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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.

It would be great if more retailers will indeed accept bitcoin but we all know the on going problems with bitcoin. Slow confirmation times, volatility and on top of that the system can be a little bit confusing for the masses, so it still something that retailers should reconsider.

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Quote from: Mometaskers on July 16, 2017, 06:32:47 AM

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.

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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.

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Quote from: orarider on July 15, 2017, 12:10:39 PM

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.

It is difficult for the store to accept bitcoin, it is still unstable, its value is constantly changing, this will pose risks to the stores, so, at present, most Of aviation affordability to put bitcoin into payment.

The value of bitcoin varies, but compared to all altcoins, it is still the most stable currency, in addition, bitcoin has a huge impact on the market, so it takes some time for it to be universal turn anywhere.

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When it becomes so easy to use that you don't have know what a blockchain is to use it!

orarider

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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.

It is difficult for the store to accept bitcoin, it is still unstable, its value is constantly changing, this will pose risks to the stores, so, at present, most Of aviation affordability to put bitcoin into payment.

The_prodigy

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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.

Alas every persons who use the cryptocurrency has eyes on this. However I believe that it would take a few more years before this goes into fruition as we still need a lot of work to do to fully implement and integrate bitcoin or other cryptocurrencies to our society as some has still ndo not even know a little bit out of this and I kni knowledge would still be the key.

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Bitcoin Merchantability is severely affected by 'volatility' and one of the major reason why merchants avoid using it in business.
Conducting day-to-day business is already risky venture and adding Bitcoin essence to it doubles your risk. Your planned profits are greatly manipulated with little change in BTC price.
Increased fees scenarios and long confirmation time frame add to this misery. Overall it is fatigue for businessmen to use cryptocurrencies in business at the moment.
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.

SacriFries11

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Since bitcoin is not yet known by everybody so the number of people who has and earning bitcoin is still less than people who has cash. Well I think there will be more retailer that will accept bitcoin if they knew on how to deal with bitcoin and if almost all people use bitcoin instead of cash. If the retailers think they will also gain profit if they use bitcoin as exchange to their products or whatever they offer so maybe more retailers accepts bitcoin.

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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.

Government can only create an environment but cannot force retailers to start using the currency so far they have not replaced with the official legal tender of the country. And at this time, I am not sure any retailer would want to accept bitcoin especially if its own supplier is not accepting yet due to the fact that he might make more losses simply by just waiting till the next day before going to change it to fiat and buy his goods. Until much stability is witnessed, retailers might have difficulty accepting.

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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.

We will not know when will more retailers will accept bitcoin. With the current problem on bitcoin right now merchants and retailers will be stopping their acceptance of bitcoin. The threat and uncertainty of events after August 1 had led to the panic selling of bitcoins. Just this minute 1 btc has dropped to 2016 US dollars and many expects that it will hit below 2000$ this evening. Merchants are also worried of whats about to come and everything will be settled after August 1. Today it is much better to sell your coins and wait until everything is clear and okay. It will be very troublesome if we do not convert our bitcoin this day.

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Quote from: HeRetiK on July 15, 2017, 06:40:52 AM

Quote from: nakata90 on July 15, 2017, 05:55:20 AM

Exactly, Bitcoin need fix issue in Blockchain about time confirm transaction if want become to digital cash for purcharse everywhere. Not only still confirm slow, use Bitcoin for purcharse at now with small amount very difficult, sometime the fees can high than the price to buy one thing.

The fee market is problematic, but the 10 minute block time is a non-issue. If the buyer paid a sufficient miner fee, in 99% of the cases it will be sufficient to just wait for the transaction to show up on the network, no need to wait for the first confirmation. For larger amounts it would still be recommendable to wait at least for the first confirmation, but for everyday grocery shopping etc. this would not be necessary.

True,as long we do already see the confirmation then it should be fine since those transaction would really go into your wallet. For some this is really a major problem but for me it would be just fine. Seeing on the upcoming event they will really solve this problem and it would really be a great change and might really give the chance of bitcoin to be accepted on most merchants on the world.

HeRetiK

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Quote from: nakata90 on July 15, 2017, 05:55:20 AM

Exactly, Bitcoin need fix issue in Blockchain about time confirm transaction if want become to digital cash for purcharse everywhere. Not only still confirm slow, use Bitcoin for purcharse at now with small amount very difficult, sometime the fees can high than the price to buy one thing.

The fee market is problematic, but the 10 minute block time is a non-issue. If the buyer paid a sufficient miner fee, in 99% of the cases it will be sufficient to just wait for the transaction to show up on the network, no need to wait for the first confirmation. For larger amounts it would still be recommendable to wait at least for the first confirmation, but for everyday grocery shopping etc. this would not be necessary.

nakata90

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Quote from: Basmic on July 15, 2017, 05:32:33 AM

Quote from: mattermaster on July 15, 2017, 04:15:37 AM

I appreciate the government of japan on thier decision to remain a tax free economy.
Hopefully, not only japan but all major stores and commercial organisations globally will start accepting bitcoin soon

At the moment it is difficult to do. To buy goods for bitcoin through the online store. I doubt that you have enough patience to go to the restaurant or to the store and wait for a confirmation of your transaction. The price of the transaction also does not make an attractive purchase for bitcoins.

Exactly, Bitcoin need fix issue in Blockchain about time confirm transaction if want become to digital cash for purcharse everywhere. Not only still confirm slow, use Bitcoin for purcharse at now with small amount very difficult, sometime the fees can high than the price to buy one thing.

Basmic

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Quote from: mattermaster on July 15, 2017, 04:15:37 AM

I appreciate the government of japan on thier decision to remain a tax free economy.
Hopefully, not only japan but all major stores and commercial organisations globally will start accepting bitcoin soon

At the moment it is difficult to do. To buy goods for bitcoin through the online store. I doubt that you have enough patience to go to the restaurant or to the store and wait for a confirmation of your transaction. The price of the transaction also does not make an attractive purchase for bitcoins.

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Quote from: RoommateAgreement on July 15, 2017, 01:19:01 AM

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.

You said it well. In Japan, there are now many merchants who are all ready to accept Bitcoin but sales are not yet burgeoning as expected because we all know that Bitcoin has become a speculative tool. I am sure that there would come a time when this can be reversed...we just have to wait since Bitcoin is right now still evolving.

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Quote from: mattermaster on July 15, 2017, 04:15:37 AM

I appreciate the government of japan on thier decision to remain a tax free economy.
Hopefully, not only japan but all major stores and commercial organisations globally will start accepting bitcoin soon

This is also Im waiting and hoping even in my country that it will accept bitcoin in any major stores. Because for sure many will use bitcoin serves as currency. And other people will adopt bitcoin to use also, so this is nice if this will happen in the future.

mattermaster

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I appreciate the government of japan on thier decision to remain a tax free economy.
Hopefully, not only japan but all major stores and commercial organisations globally will start accepting bitcoin soon

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Quote from: Beparanf on July 15, 2017, 04:10:25 AM

There are too much risk in bitcoin for its unstable value but those really businessman at heart may take it as a good opportunity since having business alone is a risk those who will take the risk and changes mostly succeed. They might take research on bitcoin to ease their worry for them to know that pumps is always possible in btc.

Some POS like Coinbase and Bitpay does allow the merchants to convert their Bitcoins immediately to fiat to avoid being affected by the volatility.

The volatility isn't usually a problem if they aren't looking to keep the Bitcoin but just to use it as a method for customers to pay. It is however, a problem to setup if their current system doesn't support either of the POS. While most physical stores do not accept Bitcoin, a lot of the online stores do accept it mostly due to the lower risk of being chargedback.

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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.

There are too much risk in bitcoin for its unstable value but those really businessman at heart may take it as a good opportunity since having business alone is a risk those who will take the risk and changes mostly succeed. They might take research on bitcoin to ease their worry for them to know that pumps is always possible in btc.

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