Bitcoin Forum

As you have seen that more and more users from India are now getting into crypto currency and companies like zebpay and coinsecure makes it easier to buy bitcoins.
So do you think merchants like flipkart and amazon should use bitcoin as alternate payment gateway.

They should, right now its not necessary for them as bitcoin user volume is very low. Also high confirmation time is one of the reason why merchants could be avoiding bitcoin.

For country like India accepting and using in in day to day transactions bitcoin will be a big change. I think flipkart, snapdeal etc. will slowly introduce bitcoin as alternate payment method. Right now we can buy vouchers from them and they are on right track.

I guess online retailers would love to use BTC since it will cut their banking fees. Once the retailers starts using bitcoins, the awareness of cryptos will also increase throughout the country.

BUT the problem here for the retails is the uncertainty of government's position on cryptos.

I dont think confirmation time is any hindrance since they dont have to deliver their products instantly.Even a fastest delivery takes longer than confirmation time

If they think bitcoin could take long time for confirmation they could use ethereum. :D

I think merchants should use bitcoins, as the volume Cap of bitcoins is highest and also it is know by most people.
Other Alts first needs to be converted to bitcoins, before they can be used.

It is one of the great utilities. So yes for sure !

I doubt they see any benefit in this, especially with wallets like Paytm and Mobikwik already there which are fast and periodically offer big discounts. In fact I have been using Paytm a lot due to the huge cashbacks.

That is obviously temporary. It is not the merchant who is giving you the cashback but these wallet providers themselves. Same as uber offering 7INR per km rides. It will eventually stop some day when they can no more raise money. From what I have heard, paytm has burnt 30% of their recent raise just for giving discounts and cashbacks.

Regards

Thank you Paytm for burning money, I have saved a lot buying expensive stuff like laptop and air conditioners ;D

Still, in the future I am more likely to use Paytm than Bitcoin as payment method as a customer, and this come from someone who has been in Bitcoins for a few years now. Unless there is a benefit in using Bitcoins I don't see it catching on.

Then you will have to wait for some bitcoin company to start throwing in discounts and cashbacks left and right as they earnt or raised tons of money. May not happen in near future i believe.

i think using crypto currencies may not be as absurd or unimaginable as many might think.
I personally think that incorporating bitcoins as a method of payment on such e-commercial giants might increase awareness of general masses into the world of cryptocurrency and might even result in an increase in our online cryptocurrency world

+1

Here is an article penned by Elizabeth. Quite a strong read

http://blog.coinsecure.in/post/142404073145/why-accept-payment-in-bitcoin

Can also add that Bitcoin does not expose the customer to giving up his information at the Point of Sale to/ through the merchant.

I think both can be used.

Nice article but
"... additionally eliminating any risk of fraud."
Imo chances of fraud in bitcoin are more than any other payment system because
1.Even stolen bitcoin can be spent anywhere anonymously.
2.Chargeback work as safeguard for buyer
Also
"... Bitcoin
is a trustless system and more secure.
With credit and debit cards, one makes
a transaction and trusts that the
individual on the other end will take
out only the agreed upon value."
In offline purchase,buyer enters the amount to be paid in pos,sellers can not change it.
I however agree to below in toto
"...
Online purchase require otp sent to cardholder registered mobile number.
As Bitcoin is a global technology,
Bitcoin acceptance enables merchants
to accept payment from individuals
around the world. Paypal, debit cards
and credit cards simply do not have
the extent of a global reach that
Bitcoin has."

Using both can be a good idea. You can enjoy benefits of both  Bitcoin and crypto currency

If course they should accept bitcoin payment also but the question is why would they do this?they are the leaders in their niche and they wont see any additional advantage of using bitcoin payment gateway.Remember most of Indians prefer COD payment option anyway.Adding one more option would increase their business.Nobody is holding their purchase from these sites because they dont have option to pay with bitcoin

I would suggest yes if they can have an immediate sale option as price fluctuations will not be that big criteria if they are getting the rate on the spot which they required. For this we already have exchanges in India. Another thing will be the quick withdrawal process since they all merchants will require easy acces to thier money unless they want to invest and keep it for long in Bitcoin is different story.

Imo chances of fraud in cash are more than any other payment system because
1.Even stolen cash can be spent anywhere anonymously.
2.Chargeback, provided by bitcoin banks like coinbase, work as safeguard for buyer

You can always seek help from law enforcement agencies in case of stolen cash which is not the case with bitcoin currently

Unocoin's attempt to get the physical stores to accept Bitcoin by launching its PoS app

News : http://www.newsbtc.com/2016/04/23/unocoin-launches-unocoin-pos-for-indian-merchants/

Promo : https://youtube.com/watch?v=uWWhbSH6nO4

Your promo is nice it not only promotes your service but also explain how easy bitcoin transaction is.Just scan a qr code and make payment.Nothing can be easier

:)

oh so lovely

Why Cryptocurrency Will Take Over the World

https://youtu.be/OwG4d17zzuA?list=PLuO-dTbCjrwpfhvj1e13Ic0hPerK_RSd3

they should provide bitcoin payment as an option to buyers..
this can be helpful for buyers to know about bitcoin

You can because there is no such thing as a bitcoin! If your keys were hacked, that is a cyber crime in India & you can seek the police.

Personal anecdote: My credit card was stolen so I went to the UP police. No one knew what credit card was! (that was around 10 yrs ago) When I tried to explain what credit card was the policeman's reply was "wo to theek hai par rupaye pade kahan the jo chori ho gye?? Bank waley to naa aaye report likhane.." (Credit card is fine but where were your rupee notes stolen from? The bankers didin't report any theft..)   ::) ??? :o I expect the same even if bitcoin was legalised.

Lol that is really funny but it was 10 years ago.Things have changed a lot now.We have a separate cyber cell these days and I hope people in there would have some knowledge.But the question is will they be able to locate stolen theif and even if they do how would they get hold of their?

I don't think a surveillance state like India will ever let that happen.

For sure it does as long as the product or service can be paid through cash without revealing the identity. For example why would the restaurant cashier bother about the identity as long as he is getting bitcoin as the payment ?
But let us say you are buying a two wheeler, the identity would definitely matter because the buying of two wheeler is regulated.

Regards

yes i am with you.its not my only guessing but i am sure police are not aware from bitcoin.i am also in u.p can't expect police are about to help someone in such types of cases.and tracking someone by bitcoin transactions is too though.

Restaurant cashier doesn't get any information about your identity when you pay in cash also.Nobody ask your name or other info when you pay at restaurant.

So, your explanation is supporting my argument right? :)

You can say that.My point is it doesn't matter wheather you pay with cash or bitcoin,In some transactions you have to disclose your identity while in some you dont require

And where ever you end up disclosing may not be because you are paying in Bitcoin. You may have to reveal irrespective of mode of payment.

what do you mean by stolen btc?
i didn't heard ever that bitcoin can be steal.i think stealing btc without someone's private key is not possible anymore. and private key are safe, if you share with someone its your great stupidity.

Btc can not be stolen but wallets that keep bitcoins may be hacked or break into

i think bitcoin n cripto can to trading
not must options

your comment is ungrounded what is different between "stealing btc and hacking wallet"?
because you are saying " Btc can not be stolen but wallets that keep bitcoins may be hacked or break into". ;D

why,why crypto currencies are not must option? we want to listen more about it please share your thought here about crypto trading.
well...personally i love crypto trading.it don't irritate like fuvcking stock market.in stock market price take long time to profit but in crypto currencies good profit can be seen daily.

I think you haven't heard of day trading.You can buy and sell shares in a single day to make profit with price fluctuations.
Crypto trading is also lucrative and if done properly,can give you some good profit

sure merchands must accept bitcoin, because with accept bitcoin he can invest at bitcoin too

If merchants accept bitcoin it will help bitcoin users like me to pay instantly with bitcoin and also new users will start using bitcoin

Merchants should accept Bitcoin as it will reduce fees for both the merchant and the customer. Credit card or PayPal fees are very high.

Yes I feel merchants should pair up with Bitcoin payment gateways and accept Bitcoins for payments. Even better, if the merchants had a chance to sign up a deal with a couple of sellers to accept receiving Bitcoins rather than fiat for their sales or transactions. This would surely instill Bitcoin spending and purchases in India.

But, there could be a couple of reasons why this hasn't yet been implemented by large e-commerce sites like Flipkart or snapdeal is because a large percentage of the customers aren't cryptocurrency customers in India. Bitcoin rates are also subject to volatility and hence handling returns of goods and returning the Bitcoins at a lower price would not be favorable.

It would indeed be great if they start accepting bitcoin and it will give bitcoin huge push in India