Topic: Why BTC is not adapted into business?? (Read 3314 times)
because the price of BTC is not flat
I guess it has alot to do with its volatility. Bitcoin is highly volatile that using it for transaction might lead to a loss. Bitcoin will be much used for business when it becomes more stable
I always wondered what is the problem for BTC to be finally adopted in the wide range of business, I was expecting at least a great adaption in the online business but even so, what stops business from adapting BTC, the volatility? The low rates of adoption? Or maybe a lack of propaganda? BTC is so great and I really wish I could use it in more places IRL!
But, it has? The fact that giant corporations haven't jumped on the bandwagon yet, doesn't change the fact that there is a big number of companies that have accepted BTC. And as time moves on, the centralization of BTCs will certainly bring in many more bigger corporations.
Bitcoin at the moment is to volatile and transactions are to slow and expensive. It will take time (probably years) for Bitcoin to be widely used and accepted, but I am convinced that one day it will be, and I for one can't wait to be able to use Bitcoin in much the same way as I use fiat.
One of the reason is inconsistent movement of price. Some products are consistent to thier price thiers a small chance to change the value in slow time. If we see the side of bitcoin every minute can drop to a small value within a second. Yeah we can use it in some businesses like travel book on a hotel, you can buy product using your bitcoin but limited business are accepting crypto.
I think the speculated reason why Bitcoin can't be used or adapted into business is the state at which it's market price keep changing within a short period of time. The changes in its market price can either devalue the rate at which the business transactions are done or over value the transactions. Most businesses can not take this risk associated with the use of Bitcoin for their transactions.
There are two reasons for businesses not taking up Bitcoin, firstly-volatility, the very large swings in the price make it difficult to price your product, for example; you produce an item which you sell for $1,000 now someone wants to buy with bitcoin and bitcoin is at $4,000 so you want 0.25 bitcoin for your product which you receive, next day you want to cash in your bitcoin but it has dropped to $3,000 so now you only get $750 of course the opposite can happen and you make a chunk of extra profit. But the fear of the downside is what is stopping adoption as most people are risk averse. Secondly-high transaction costs with slow confirmation- a merchant taking debit and credit cards pay around 0.3% to 1.99% in fees with transactions confirmed in seconds and with some providers the money is in the bank next day. Hence the slow and limited adoption of Bitcoin etc.
I belive that why bitcoin ia not yet adopted i to many business ita because of its volatility. Once it becomes stable more business will adopt it
today there are many companies that adopt BTC as a business option. Now BTC is one of the best business options online, so BTC will be useful for that
Yes, some companies and private businessmen use Bitcoin actively. However, the majority of serious people do not do it due to the high volatility of the cryptocurrency. They do not want to risk.
today there are many companies that adopt BTC as a business option. Now BTC is one of the best business options online, so BTC will be useful for that
Indeed bitcoin technology is very great. but I do not consider bitcoin as the best online business, because the price of bitcoin can change so that it will affect the value of coins that have been won at any time. bitcoin has a lot of risks so be careful when doing business with bitcoin. Only people who are smart about managing bitcoin will get success.
Bitcoin is at the stage of implementation in the business. But in different countries it happens in different ways and at different rates. Unfortunately, this is normal for such an innovative technology as bitcoin.
Bitcoin is simply too young, both as a technology and as a currency. But he is on the right path of development and gradually begins to take root in the business. So we can be sure of him.
I think that the reasons for the slow introduction of bitcoin into the business sphere are restrictions on the part of the government. For the full acceptance of bitcoin by the authorities need more time.
At this stage, bitcoin is too unstable to connect it to the business. Who would want to put their business in such danger?Today you have a million, tomorrow you have half.As soon as the reverse trend begins,then we can talk about business cooperation.
fluctuations that are too "unnatural" result in many public businesses not daring to go further, besides that there are many challenges from government regulations and this cannot be seen as trivial.at present business concentration is only limited to digital stocks and price momentum is not in line with extreme market concentration. There must be a stable coin to really apply in general.
What are you talking about?What kind of business?Now bitcoin is not adapted even for the average consumer.You just look how many people have suffered and lost the last of these sharp price spikes.No company would ever agree to that.And rightly so.
At this stage, bitcoin is too unstable to connect it to the business. Who would want to put their business in such danger?Today you have a million, tomorrow you have half.As soon as the reverse trend begins,then we can talk about business cooperation.
Adoption has always been the biggest issue with bitcoin. The two big reasons behind not being directly adopted into business are because it is slow and has a hefty transaction fee. All of this might change in the future with the release of the lightning network.
business are yet to adopt use of bitcoin because some are already using their own cryptocurrencies while others are yet to fully understand the working principles of bitcoin but then we will see it being massively adopted in the near future
Bitcoin is already an outdated coin. In technical terms, there are coins much better and more functional than bitcoin. The transaction speed of such coins is much faster, and some have a higher level of anonymity.
I think the adoption rate of bitcoin into business this year alone is not that bad compared to the adoption rate in previous years.
So I believe it's one step at a time.
There's also the need to get the various key technologies of blockchain improved so that it will bring value to everyday activities of the public which will increase adoption rate into businesses.
So I believe it's one step at a time.
There's also the need to get the various key technologies of blockchain improved so that it will bring value to everyday activities of the public which will increase adoption rate into businesses.
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