Bitcoin Forum

translated from portuguese:


Mass adoption is not about banks, neither about instituional money.

This is mass adoption.
I just want to buy coal, eggs and chicken with bitcoin.


this is the way

Lots of places think they're aiding adoption by having a Bitcoin ATM in their store, but it would be far better if more small companies could start accepting Bitcoin directly in exchange for goods like this place is.  Sadly, it will involve some extra effort on behalf of the store proprietors to do that in most jurisdictions, though.  If you're not using a payment provider to convert it to your national currency right away, you'd probably need some decent software, like BTCPay Server (https://btcpayserver.org/) or a really good accountant to sort out the bookkeeping side of things.  Small businesses have to be careful there, because they are an easier target for regulators and governments for tax enforcement compared to individuals.

It's awesome to see what BTC was able to achieve in it's short lifespan. To see some random shop in Brazil open his arms (and marketing) in order to fully embrace and advertise that it now accepts a cryptocurrency as a way to exchange goods, it's something really awesome. It's this kind of mentality that we need if we want BTC to go to even greater highs :)

Keep it up random brazilian shop owner !  :)

Eversince 2017 up to present, here in my country still adopt the system on bitcoin with the presence of fiat conversion. They're compatible on most payment method like online transaction on bills of electricity, mobile loading, banking payment and more features coming.
It's awesome to see, that nowadays people who've been using bitcoin were now starting to become transparent this way of showing how convenience would come into your hand.
Hopefully Government would realize the importance of it, and won't disrupt it's ongoing development in the future. Basic necessities like food and other household stuffs aren't yet present for its payment unless supermarket will also divert on this type of cashless payment.

I've seen several phone repair shops in my area that accepts bitcoin since 2018, and have continued to do so until now. The bigger shops however, wouldn't want to do this move just yet. Why? Probably because of regulations, and the complications it brings re: tax. Once the regulations, tax, and all the legalities and loopholes have been addressed, maybe that's the time we'll see more of this--hopefully--in the future.

It'll start with legalizing these things 'technically' before we get to see the boom into adopting it.

Who wants to use bitcoin when it takes 10 minutes to make a transaction?

This is the freest thing I've ever seen in a while.  :D

Unfortunately, this can't work except if they do pay taxes. Also, I observe inconvenience from the seller, the operator of the business, if that's the only shop that accepts bitcoin around there. Traditionally, the man that runs a similar business is already uncertain about his profit. He has to predict it, by measuring things like expenses. Can you imagine that he also have to consider the uncertainty of the crypto's prices?

Although, in the long term, when more shops like this one, accept cryptocurrencies then the price will be less fluctuating. Think about it, the more shops, the more it'll look as a medium of exchange.

LN.

Depending on the transaction amount, you don't necessarily need to wait for a confirmation.

For low amounts (e.g. some drinks or a meal), if some attributes are met (e.g. no RBF-flag set and no conflicting transaction has been found in the network), accepting 0-conf transactions can be pretty safe.
I mean, you can never completely negate fraud. But you also can't with credit cards.

Further, i doubt lots of people would walk in and double-spend for a burger..


The 10 minute confirmation time is not an issue in this case IMO.
And the Lightning network will further solve this "issue".

Definitely, the owner is closely monitoring the btc and other alt prices in the market. Now, that's a tedious job. Wonder how often he changes the price of his goods? But maybe, he has only one site he is basing his conversion rates, and one possible is their local crypto-exchange. It will be good to see shops like this that you can find even in rural areas.

By the way, is the XP coin referring on the photo is the experience points coin - https://www.coingecko.com/en/coins/xp#markets?

It's good to see some real life utilisation of crypto currency and bitcoin in particular because this somewhat restores our faith in the technology instead of just considering it as an investment medium. But wouldn't it be a hassle for the seller if the value of Bitcoin or any other altcoin's drops aftersale? Either the owner who accepts bitcoin and other crypto will immediately convert it into stable coins like USDT or else he is either losing out big time or gaining huge profit as per the market situation.

We do all hope for this but these places would really be just on some few count that will be accepting Bitcoin and the rest will really be sticking out with those traditional money transactions.

They cant really just able to handle its volatility.For some this wont matter but for majority of them will really be looking on this way.This is a common reason for them to hindered out
on going to full adoption scale.

Using up our own coins on establishments like this or any other service physically then that could really give us some good feeling but well these places were
just limited out and the rest will be sticking on what they had been used to.

Definitely agree!  If the institution adopts Bitcoin, it is called institutional adoption.  Masses portrays to people, from ordinary to small-medium businesses.  If this set of group of people started to accept Bitcoin as a mode of payment and transact with them regularly, then we can really see the real concept of mass adoption.

Hoping they will disregard XRP  :D (kidding).

This is one of ton ways to spread mass adoption, by just doing this, a lot of people will become more curious on Bitcoin or other cryptocurrency and they will try to use it.

I am curious if they are using some payment processors or just doing manually to pay cryptocurrency.

I can't wait to try to use my Bitcoin to buy some items/services in our local areas.

Its more than a shop offering goods for payment in Bitcoin, its about creating a new
ecosystem where people can earn Bitcoin so they can Hodl it and spend it.
Maybe this will happen over time where people have the opportunities to offer goods
and services in return for Bitcoin payment so they in turn can buy goods and services.

FIAT becomes redundant and people control their own finances.

Look like that in the country, Bitcoin has been used for daily needs and legal fro payment method.
This is exactly a mass adoption of BTC and also another cryptocurrency.
This is not a big company but being brave to take risks with this kind of payment. If it is about the daily needs, and even this is not about only big companies, this merchant has proven that everyone can use BTC for payment.

However, rules are still gonna be rues. We may not be able to ignore or avoid rues if we are living in a country where Bitcoin is still not legal for payment. And this really happens. So, merchants will really take high risks if using this kind of business, but if they think about the future, it will mean many things.

But, this is what makes the mass adoption cannot grow up so significantly because of the rule in the countires.

If this is happening right now, what are we going to experience in the next decade? We are already in the digital era and I foresee this to replicate to other continents. Mass adoption is when small businesses accepting digital currencies as a mode of payment

This looks interesting. A convenience store that accepts crypto payments. We are actually near Mass adoption. Although not all are really convinced with crypto payments being so convenient because of the high fees, but if they will see such stores like this who allow netizens to pay in crypto forms, those who aren't aware about it will have an interest to know cryptocurrency.
 
 Some areas in my place like gasoline station, bars and small stores which I have seen and go there personally hasn't that well used at the moment. Ive talked to the owners and managers and ask them if adoption of crypto payments are going smoothly but sad to say, only few use it as a payment method.

I think that could happen when the government approves the bitcoin existence, so we will see many local stores or cafes that will accept crypto, especially bitcoin and other top coins. If that is happening in many places, mass adoption can grow, and we will see many people will try to use bitcoin.

But with the high fee of bitcoin transactions now can make people think twice to use bitcoin just to buy something in the local store because they can still fiat or debit/credit card or other digital money. Maybe they will use bitcoin as their investment than spend or buying in the store. After all, that promotion can attract attention from people who see that and can have the curiosity to know more about bitcoin.

Wow! That's quite a way to go and what an elaborate sign post. Should the merchant be successful in managing his or her business, it would go a long way in motivating other business outlets to adopting cryptocurencies as a medium of payment and maybe bring in a few investors to cryptos too. There is no better way to preach cashless policy better than this way and the merchant stands to gain more should accumulated coins rise.
I really hope countries with a stiff regulation on cryptos would see merchants like this and know that crypto isn't the enemy but a new and easy means of transacting.

This is also the misconception I think with what happened last year. Many people are considering that it is adoption which was made by PayPal to accept cryptocurrencies but I guess it is not a total adoption simply because the amount of crypto, perhaps Bitcoin, will be converted to fiat in most of the transactions especially if the company or the counter part of that transaction is not open to cryptos as a medium. It is more likely a movement to regulate this technology through taxation in cryptotransactions which can't be done in a daily basis with this industry, wherein cryptos are mostly decentralized. What OP have mentioned is the real thing.

Wow, that's pretty amazing but you could please let us know how do they manage the huge fees bitcoiners have to pay to make a transaction ?
Phone repairs hardly take around $20 - $30 in my country. Paying around $4 as fees is about paying 14% of the total amount as fees.
How do those shopkeepers tackle this problem ?

Making Bitcoin to be used in purchasing of goods and services is mass adoption, hence I believe you are right about what mass adoption is, and it is through this way that more people within that vicinity will be able to learn more about Bitcoin and other cryptocurrencies, because it will bring a burning questions within them, and also the advert is clear and captivating as well. Imagine what will happen when more businesses within that location starts accepting Bitcoin and cryptocurrencies as well, it means more people will be enlightened and more people will be brought into the crypto space. And also, another interesting fact is that, the business also accepts other cryptocurrencies thus making it easier for customers to pay with their desired coins.

Wow, a rather creative person created this))) Applauzes! lots of people just wait when different organizations will directly accept the BTC as the means of payment, while others without Internet have done it already without hesitation or lots of assets fir advertisement)) respect for those people. In my opinion in case the bigger amount of people wil do like this others will have no choice and just will have to adopt something like that in order not to loose their positions on the business or market space. While some wait others act.

Absolutely right. People wait for the institutions to accept bitcoin and others as a payment method, but small retailers can begin this trend with such initiatives. As r/wallstreetbets did, bitcoin enthusiast retail vendors can begin to use bitcoin as an alternative payment method and it will be revolutionary.

In here you can recharge your mobile with Bitcoin. I've seen in my area some local stores provide Bitcoin QR codes for mobile recharge, you can easily send Bitcoin by scanning the QR code. although they use Custodial p2p service for Bitcoin transactions as it avoids paying extra fees and becomes an instant transaction. Such initiatives are very effective for Bitcoin adoption and promotion.

Looks cool :)

I wouldn't use Bitcoin, but Tron is entirely acceptable because of fees and speed. And I would have a separate wallet for small purchases as I don't want anybody to welcome me on a gunpoint for the rest of my coins.

Now this is the kind of posts I want to see on this forum. Looks kinda unreal, you sure it isn't photoshopped?

I don't think I would spend my Bitcoin there if other places accept fiat. I mean it is obvious. As long as I get paid in fiat, there is no reason for me to spend BTC which appreciates in value at an average of 200%/year. Fiat on the other hand loses its value the more you keep it in your bank account.

This is the problem about Bitcoin adoption. As long as fiat exists in the current inflationary form and salaries are paid in fiat, the wise choice for people is to spend the dollars first.

It is a good initiative for small businesses that accept bitcoin and cryptocurrencies in Brazil or anywhere in the world.

I did a tour of my city if any supermarket wanted to accept bitcoin and they did not accept that was a year ago before the pandemic. The impression I received was that the owners did not have any knowledge of how to handle bitcoin. I live in the south of the country and technological advances are not so good.

Following the topic of OP I have done a little search and found the following article published on December 21, 2018.

https://news.bitcoin.com/brazilian-supermarket-chain-now-accepts-payment-in-bitcoin/ (https://news.bitcoin.com/brazilian-supermarket-chain-now-accepts-payment-in-bitcoin/)

It is not easy to find related information. It would be ideal for any developer to build an app that locates businesses that accept bitcoin and cryptocurrencies around the world. It could be a good invention of interest for users of cryptocurrencies.

A great startup, this is what adoption is anyway amd should be. So seeing this honestly puts a smile on my face. The problem with the public's current views on how adoption works is that they forgot the usability department. They're all for everyone should have it and stuff like that but what really matters is that it's readily available and usable so the common joe can get into it as easy as entering a mall, not as hard as crossing the border. Pretty sure it isn't. Well, in order to inspire adoption we have to show people how convenient it is to use bitcoins over fiat, that includes using it for purchases over fiat currency which definitely is a tad bit expensive but if you're all for bitcoin's global adoption, then it should outweigh the prjce.

We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.

What we need is instant confirmation as people buying products does not want to waste their time waiting.
Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.

I agree that the real mass adoption is with the many offline stores that accept Bitcoin and altcoins payments. As in the picture in the opening post,
I want to happen in my country, where I can buy daily necessities with Bitcoin. Even though it is very difficult it can happen in my country, because
right now my country's prohibits using Bitcoin as a means of payment. But I believe my country's rules regarding Bitcoin will change, if Bitcoin
becomes more popular and many countries start legalizing Bitcoin. For now I really have to be patient, because I can only use Bitcoin as a digital asset.

Businesses can implement Lightning Network. This way transactions are made in an instant and the fees are insignificant.
If you ask me it is quite convenient to pay in fiat as it is. I mean you just need to approach your card or your phone to the PoS and you're done. That's as straight-forward as it can get if you ask me.

The only thing that annoys me is that we need to trust a third-party entity to hold our money and facilitate payments. So for me, decentralization is the main selling point of Bitcoin in terms of making day-to-day payments.

'coz that' s how regulation works in the first place, in contrast with decentralisation which is in nature of Bitcoin and most of the cryptos. In order to alter its nature, there would be a manipulation, which is in this case, regulation through third party networks. But regarding adoption, this technology is still questionable to countries still, not being certain of the actual reason but we just cannot force things. Let us be glad that this could be a huge step towards real adoption, wherein in such way, more people will be able to build trust accepting this kind of currency.

That is totally true. And I really think there aren't any crypto customers on a shop like that. Most people on these areas aren't crypto adopters and are informal workers, receiving their payments in cash. They won't deposit it at a bank, send the money to a third party service and convert it to bitcoin through an exchange to send btcs to the shop just to buy a cooking gas, wasting a lot of money in different fees from the beginning to the end of the process.

If citizens were receiving their wages in crypto currency, then it would be another story...

Totally agree with your opinion. There is no false in your statement. We do not need banks or any institution to accept bitcoin in order to start a mass adoption. Few businesses implement bitcoin in their system will start a big revolution. However, it is hard to do this in my country since government's legislation do not accept bitcoin in any kind of payment

Brazil is absolutely a heaven to crypto lover. Love those banners

since 2018, I dream of owning an accessories store using bitcoin payments. although until now this has not been achieved due to the lack of bitcoin users in my place, it is even very difficult to find those who actually own bitcoin. maybe you can count the number, about 10 people in my city who are really active bitcoin users. even here only my brother and I are involved in cryptocurrency and we still survive.

Some governments in the world have their own regulations and of course they will not be the same. For example, in my country in Indonesia, Bitcoin is only allowed as commodity trading and cannot be used as a means of payment because it is prohibited. Mass adoption will indeed provide benefits and provide more payment options, but the high voting has made several government governments disagree with it and further research is still being carried out.
Cryptocurrency and blockchain are becoming revolutionary future technologies that will change the way of transacting in new ways, but all require a process. Mass adoption cannot be done that easily, there is still some research to be done first.

With the government involve I'm sure it's not going to be done easily when 3rd party payment method and CBDC also converting coins to digital fiat. What is being presented to us today is going to take part in what is coming in the future. There may be another 3rd party when it comes to buying items on grocery stores and another 3rd party when paying from wallet to bills.

this is the kind of things we really want to see. if this dosent happen , then we are far from what we call adoption. untill bitcoin gets to the grassroot of every nation, adoption is still not achieved. when you can spend what you hold, its value will increase.

Indeed, this but on a global or at least a larger scale, where we could see this in malls, hospitals, even schools and all. Plus there should be a place for bitcoin or cryptocurrency in the curriculum so students get to be acquainted with bitcoin as early as highschool, in that way they can partake in bitcoin investmetn as early as possible.

There are many ways of mass adoption of Bitcoin, but the most effective mass adoption so that the general public can immediately get to know
Bitcoin by increasing the number of offline stores that accept Bitcoin payments. That way many people will be curious about Bitcoin and for sure
new investors will continue to emerge. Indeed, there are many obstacles faced by applying Bitcoin as payment, but if we don't try to run it first
we will never know what the result will be.

This is exactly how adoption looks like. If that guy had a store near my place I'd drop in for groceries and a little chat.
A bitcoiner will always find something to talk about with another bitcoiner.


Why are you kidding? It's a serious matter. Centralized shitcoins should die. :P

We didn't see that bitcoin will come this far, I'm so proud that I knew bitcoin since 2017.

These small businesses who adopted bitcoin will surely grow in the near future, imagine if bitcoin started from scratch then probably small investors who also have nothing will surely grow. Mass adoption is really something else and it can really help each and everyone who trust on its potential to be the best asset.

I will be punctual with the OP, there is no anonymity in that case but there is trust, so if you are not trusted on the buyer you must wait 10 or more minutes to withdraw your order, for trusted buyer He does not need to wait for any confirmation from the Bitcoin network, he has the trust of the business owner.

The true adoption we need is from ordinary people, but it lacks confidence not only between individuals also with bitcoin, in understanding that it works that it is a feasible monetary reality.

When the government changes it will have a big impact. When FIAT becomes digital and is used as payment for all kinds of transactions for goods and services, it will certainly become competition for crypto. FIAT goes digital even if it looks faster and more efficient without fluctuating because FIAT has a fixed intention.
But actually even though FIAT has a digital form, crypto is only used as a more revolutionary alternative with the development of more sophisticated technology compared to FIAT. There will be many types of payment methods to choose from and can make all transactions easier.

I can agree that we are still very far away from what we might call mass adoption. Let's be honest and admit that still very small number of people in the world in general population is using Bitcoin in any way. Or any other crypto. Maybe that doesn't seem so form the perspective of forum person but that is the real situation
Alz, for mass adoption we would need regulation and some framework that would enable trust, different attitude of governments, central banks and regulatory agencies and we are still very far from that.

Don't think so instead total government regulation will kill all bitcoin has built over the years. Bitcoin core developers just have to work on the technology and improve it more. The reason why we're lacking mass adoption is as a result of the network not having the capacity of accommodation hundreds of users and not failing (high fee or low confirmation time).

Even the centralized crypto platforms like Binance and their likes can't couple with high volume of users than how is the industry expected to grow in utilities. The only aspect of the industry growing continuously is the price value which is why the industry is seen as more of a speculative assets than a currency.

Mass adoption is quite more than what's seen in the OP/Image. It should be seen as an advantage to accept bitcoin thereby bringing about competition and price reduction in goods or service using Bitcoin as payment options. The lack of this competition is why the current service providers are over charging.

This indeed is what mass adoption should look like. It seems that this district in Brazil gets it, and it is great as people will be able to spend their money without the help of central banks. I hope this becomes the main stream.

I would like to have an adoption like this globally where all the local stores starts accepting cryptocurrency and that is the real adoption. The users make the difference and the institutional money is all about making their profit and not to help the market in any way, yeah it might put eye balls and force people to invest thinking they could profit but adoption truly means everyone able to use them on a daily basis but the biggest problem is that we are yet to scale to reach those levels.

This type of bitcoin's publicity is really essential for us to know how bitcoin can be adopted in many areas.

Especially in Africa, bitcoin adoption there is really outstanding. Bitcoin ATMs in their place are really implemented immediately and not most of the countries can do that. Also, this picture shows us how bitcoin can be adopted in many kind of businesses or investments.

We should wait for more adoption around the world because bitcoin do really have a lot of potential and it is already the best cryptocurrency to hold.

But before that step, I believe Bitcoin SHOULD first be stable and only because of stability can it be used as the default “unit of account” for merchants, and exchanges if they choose.

Because of Bitcoin’s volatile nature, maybe its stability can be attained if it is trading at higher prices. 6 digits? 8)

This is a good start for that country and for the community of cryptocurrency to arise, a lot of countries are now accepting crypto so for sure this would be more in the future. A public building a good start for people to get curious to try cryptocurrency and try it. For sure there would also am an organization that may help many people understand it, that is the thing that may help someone understand the community.

this is heart warming and i feel touched because a small store like that knows how to appreciate crypto by adding it on their business but big and fine stores dont .
 what they care of  are the mainstream payment methods that everyone is using . they never gave crypto a chance . is mass adoption normally starts this way ? from small enteprenuers ,  i guess so .
 if we are slow in the outside world , the adoption spreads faster in the online world

The developer of bitcoin and altcoin payment app should make more advertisement and innovation so small retail store like that in the world can adopt cryptocurrency sooner. And it will be good for tourist, it will be very practical for them to buy anything they need while traveling. It seems that the world is starting to adopt bitcoin little by little, now is better than few years ago when I first know about bitcoin, it was so hard to find place where I can spend my BTC. But now there are so many bitcoin related company that emerging, this is so good.

kudos to the owner. I remember a thread on our local board that features local small stores that accept bitcoin and altcoins. Small Business that accept bitcoin or cyptocurrency here in PH, worth it ba? (https://bitcointalk.org/index.php?topic=5249761.0)

a lot of us wants this but with the current fees it's not worth it.

also, you forgot to translate bebidas. bebidas=drinks (according to google translate)

Yes this is the kind of mass adoption that I really like to see where we could see more business accepting Bitcoin not just branded but also local stores.
Although Banks and institutional money are good for us we also want to see it being used as a currency where we could use it to pay or buy what we want using it not converting it into Fiat before paying.

This is the real mass adaption, we don't need to start it with the big ones or with the banks in which we don't need to start it already on adaptation by banks but instead let's start it on us by small business, if some local or small store offer to be paid their products by bitcoin or ethereum then let's try it by supporting and adapting the new digital currency. By just doing this we are slowly adapting and supporting the bitcoin and other cryptocurrencies as a payment method to the other stores.

Yeah indeed that is mass adoption but it will be quite funny when you transact using bitcoin and you see that the transaction fee is much more bigger compare to the goods you bought  :) provably you will collapsed when  you see a x3 or 4 more bigger the amount.

But hopefully there will be an option to lower down the fee's since if this will occur and no solution for this issues maybe the usage of bitcoin will reduce.

Amazing I think this is what the future is gonna look like hopefully in every store wearer going to see this thing accepting cryptocurrency as a payment.

I have a similar topic like this one in the Pilipinas section, a collection of small businesses that are accepting cryptocurrency or bitcoin in my country. And it's really amazing to see people adapt in cryptocurrency started in accepting cryptocurrency as a payment method and how creative they were creating these ads in their shops.

Here's the link:
https://bitcointalk.org/index.php?topic=5249761.0

More ads, more market exposure bring Bitcoin into huge adoption. If I have Bitcoin and one store is accepting this, I don't bother myself to go far, converting my BTC to fiat just to buy stuff or anything, I surely stop down there.

We have this Bitcoin on the market for more than a decade, I think it was long enough to see its potentials and the store will consider accepting it. It really fits this time since most of us are wanting a cashless payment system.

Sure we don’t need banks for mass adoption of Bitcoin, it’s something that is up to we as individuals, we can only do it by ourselves, we don’t need banks and Bitcoin was not created for banks , rather it was created for the people so that they manage their money by themselves without the help of banks. I look forward to seeing more of things like this, especially where I live, because it’s not really like this, it’s only traders and exchanges that you will see accepting Bitcoin or any cryptocurrency at all, you wouldn’t see shops where it is accepted.

The only problem I can see that this kind of store that accepts bitcoin is the prices are constantly and violently changing every minute. I do love the idea but we need the prices to stabilize in this one and I think that when that happens then maybe I can support it. I disagree with the store accepting cryptocurrency but don't get me wrong mass adoption is good thing, we have to be rational about the situation, price stabilization and then adoption.

It probably you can't expect price stabilization since the market price changes abruptly. Maybe we consider a stable price if we are using fiat but for this, you can't simply think about it.

We will be expecting more stores, establishments, and big companies are going to adopt crypto globally. That was more exciting to see and we can finally say that Bitcoin is the future currency that we've been discussed before, and we are coming near to that.

Three things comes to my mind when I see these type of discussions. Volatility, Fee structure, and the speed of tx.

Volatility is something not new to crypto users, we accept crypto thinking that eventually, the price will go up. The problem with this thought is that you need to have back up funds if the market gets into a correction and you have to buy more stock to run your business.

The Fee has to be put on the buyer, so unless it is less than 1-2% of the total transaction, most of the buyers will back out on paying through crypto.

The speed of the transaction is also an important factor as the tx has to be confirmed instantly or at least under a minute otherwise it will be harder for stores that have a crowd of customers.

I have seen stores accepting crypto, most of them prefer TRX, XRP, or LTC.

Also, we as a community have to start using crypto in transactions and not just hold them forever..  ::)