Bitcoin Forum

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano. Lugano is a city in Switzerland.This is for sure the best thing I have seen on the internet today. From my POV it is a win-win both for the buyer, the business owner, and Bitcoin. How? The buying saves money. The business owner gets an increase in revenue because they would experience sales increase. People love discounts. For Bitcoin, more increase adoption in that city.

Sincerely wish to see it spread to other cities and see more shops get involved. So, if you are in the city of Lugano, you know what to do.

*  https://twitter.com/LuganoPlanB/status/1664548340950769671?t=K79BxSdTKnsJ3i40ZzpNKw&s=19

This is a motivating cashback and a good way to attract customers to adopt Bitcoin as payment in those shop Switzerland is one of the Bitcoin-friendly countries, and its regulations on Bitcoin is flexible which is a good point to start with for businesses.

10% is a tempting amount of percentage that most Bitcoin users in that region will take advantage of, and buying in large quantities from those shops will be the ones to earn a lot of returns on their shopping spending via the cash back, I will like to know if those shops have international shipping service and if possible we can have a link to the website of one of those shops to see what product the deal on.

I've noticed the news in the feed, but since no source link was provided (on Twitter) one question did remain in my head: since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

It's like a loyalty program offered to Lugano app users. The 10% is not in BTC but in a token called LVGA so yeah you may need to input your personal details into the app first before you could receive those cashbacks. It doesn't look like there are other wallets that supports their token.

You made mentioned of 250 shops in lugano?
Wow this is quite impressive seeing that about the above mentioned shops are accepting bitcoin payment, meaning this is calling for max adoption in that country. But how do we get stat from that country that they are actually accepting bitcoin because I believe what ever information being shared here are hardly to be known, maybe anyone from that same country can attest it to be true. But nonetheless, this number is really encouraging meaning if we could have something like this across the globe then nothing stops bitcoin from being legalized because I know too well that even the government that refuses to legalized it are directly or indirectly taking part of it but may not opening say they are involved.

This is surely a great news! This is something which will help bitcoin to gain adoption for sure. People love discounts and cashbacks so it's really a win-win situation for both parties.

Today morning someone argued that BRC-20 tokens are going to help bitcoin adoption. I strongly disagree with that. Ordinals are not good news for bitcoin. But adopting it as a payment processor with 10% cashback offer will go a long way if it gets right promotion.

Lugano is a beautiful city that is experiencing a good period when it comes to Bitcoin.  The administration has decided to support btc and every year (twice this year) organizes the Plan B Forum where many very important speakers meet to talk and make this technology known to the public.  I think Lugano has a very prosperous future ahead of it.

The thing is cashback isn't given in Bitcoin but rather in LVGA as Yogee stated.  So the marketer is hitting two birds in one stone here, marketing Bitcoin and at the same time giving their Payment system apps an exposure.  If anyone isn't familiar with LVGA coin here is a brief description.  More or less this is a wallet application advertisement

And you can find more information in this site: https://my.lugano.ch/en/


At the current state of the Bitcoin network, I also don't think BRC 20 token give a positive effect on Bitcoin adoption.  No one wants a congested high transaction fee cryptocurrency.  If the high fees and network congestion continues, people will look for an alternative.  BRC-20 is only giving benefits to the miners but gives problems to Bitcoin users.

You are correct, the cashback is not even for BTC payment, but for payments in LVGA.
The City of Lugano and Tether are working to make crypto payment popular in Lugano, this initiative called the plan BTC initiative is not exclusively about BTC. From the source i have they are working with crypto payment facilitator GoCrypto to help the merchants accept BTC lightning, Tether and LVGA transactions fast and conveniently through their pos terminals. Nevertheless, it is not a bad initiative, and it is good for crypto adoption, this is the link ^[1] to read more about it:

[1] https://gocrypto.com/blog/get-onboard-the-crypto-payment-train-in-lugano-switzerland

Indeed a great news for the cryptocurrency industry. But in the real sense there is no cashback. I have seen these kinds of promotions, although in fiat but in the end the company gets their money back eith huge profits.
There's always a loop hole somewhere the business owners are utilising unknown to the public.
Meanwhile, who pays for the transaction fee. Let's say the 10% cashback covers for the transaction fee. It's all fine and a good win for cryptocurrency because the offer is  not exclusively for bitcoin.

So it's their own token can be stored in their own wallet and can be used for paying with your next purchase in their platform so it's kind of business module that's in practice already but they choose Bitcoin to get more attention.

I don't believe in discounts and cashback because no one is going to sell a product for loss unless they have ways to make money in future.

It is an initiative between Lugano, Tether and GoCrypto, they want to promote crypto adoption in Lugano, so what they are doing is partnering with GoCrypto to distribute their pos terminals to merchants in order for them to accept payments in usdt, BTC Lightning and LVGA token which is a stable coin that can only be used in Lugano^[1], the mention of BTC surely gives their initiative more attention anyway. The cashback can only be earned in LVGA stable coin which is pegged to the Swiss Francs and can only be bought in the MyLugano app, take note that LVGA cannot be used for anything except payments within Lugano.
Some businesses that accept BTC do give a little percent discount on BTC purchases, but they do this for a short time to see how their customers react.

[1] https://my.lugano.ch/en/lvga/

This is a nice initiative and a welcome development  for bitcoin  in Switzerland  because it will  also help  to spread  and promote bitcoin  in the country.
But I will also want to know the terms and conditions  in these purchases and if the purchase  might require the buyer to use a special kind of wallet or do anything extra  or beyond the normal  and casual bitcoin  transactions  or will it get to do with kyc if yes for any of this then I don't think many people especially  those of them that take their  private crucial  will want to give it a try.
Nevertheless,  its a nice initiative.
If there are users who .amen this great testimony  about  the city then I don't think this advert is actually a big deal for its citizens as they might have seen simply  offers within.

There is also a slightly deeper question which also  did remain in my head : which is the tax status of those stores that accept Bitcoin payments, and how the state will be able to deduct taxes on those transfers. I do not think that Switzerland has established an automated system to monitor these transfers, nor do I imagine that Switzerland is tolerant with those shops, even if it is a crypto-friendly with regard to individuals.
The application of these discounts at a specific rate to all stores raises many hypotheses as well, which remain ambiguous. In addition to all the issues related to privacy and how these attractive offers can enable the regulatory authorities to track the financial activities of both individuals and small companies (Shops) .

Yeah, like they are saying... Give me your identity and private information and get a chance of getting a 10% discount on all your purchases using your identity, because that's how it seems to me.

If they want to promote crypto currency, then they should do it the other way around, since the bonus is to come from the LGVA payment only. Since they are able to create a working and functional token that could be used as a means of payment, they can still use that method, which increases the usage of the currency, but this time no KYC should be mandatory, and such a bonus should also be applied to every other currency used as payment, provided that it's being paid from the appropriate app.

Anyhow, it's good to have businesses actually recognize the use of crypto currency, no matter how little it shows that adoption is rapidly growing even if all payments are not directly Bitcoin-related.

its not a 10% bonus or a 10% discount on BTC purchases

its a hand a custodian your BTC. they change balances of their users (customers and merchants) and then they give the customer some valueless token thats not bitcoin and pretend the token is worth 10% of bitcoin

heres the thing about bitcoin..
if there is no bitcoin txid with confirms. means its not a bitcoin transaction

also.. "mylaguna"(3AC) is a subnetwork of the ethereum network.. so yea. definitely not bitcoin

if you want to be a sucker and hand a custodian your BTC and be handed back some pointless token on some subnetwork of ethereum.. go ahead. but atleast dont pretend to call it bitcoin

the 3AC network is not a open decentralised blockchain of PoW
its a centralised private network using a centralised governance(PoA)

The best way to advertise or promote Bitcoin is this way, people that don't know what Bitcoin is will become curious here.
One of the pros that doing this is more Bitcoin rewards, a more convenient way to pay for your purchases.
More places will follow this bright idea to promote Bitcoin for sure, it's a big help for entire Bitcoin community.

Now that’s a great news to be see. I am really impressed whoever proposed this idea among the shop owners. I mean this will help new people to discover about Bitcoins for the 10% cashback. This will also help the shop owners to collect Bitcoins whose values are increasing as the days are passing. I would love to know about it more, like what’s the status till now, how many have availed the cashback and are they happy or not. Moreover these types of offers can only make more people dive into these crypto space.

Even though it looks interesting and the creative idea that Lugano is doing will never happen in our country, because the only legal transaction tool that is recognized by the state is fiat currency. This week there is one young person who accepts payments using crypto has to deal with the police and the person concerned has also been detained at the police station. It's a very surprising phenomenon that our country is not playing around in cracking down on bans and it's just one person trying to accept bitcoin as a means of transaction and imagine if most do that?

Lugano is a city in Switzerland and mostly accepts means of payment using bitcoins, but actually in that city not only accepts bitcoins as legal tender but other cryptos can also be used to a large extent. So it's no wonder that what they are doing is an important aspect of providing an effective service and this has been going on since 2022, this program is also believed to have a positive impact on business growth there.

If I am not wrong and based on what I see in the photo, the business only run that cash back program with Bitcoin Pizza day. They are a Pizza store and take advantage of Bitcoin Pizza day to attract more customers to their store.

Like in Bitcointalk we have Bitcasino.io with their $50 give away to anyone who order pizzas and make proof with photos. They will pay back $50 to those users directly in accounts on Bitcasino.io.

I will like more if the pizza store do cash back in Bitcoin. You come to our store, order and eat pizzas and get 10% cash back in bitcoin, not in cash. They can use Lightning network to do cash back in bitcoin. They can do two options for cash back: cash and bitcoin.

indirectly means this is practically a public fraud with a 10% cashback,
many times I read the OP's board, and I thought what kind of 10% cashback? whether in btc or fiat form applies

you give the laguna custodian your BTC and they instead give you some crap token called LVGA which you then send to merchants. whereby whatever price the LVGA is the balance then shows as 10% of that balance returning to your laguna app in LVGA  token form

its not actually buying things with bitcoin. because the merchant receives LVGA tokens

It's actually cool to see that, it's clearly a win-win situation for both the business owner and the clients. Not only does buying with Bitcoin help save money, but it's also extremely convenient to make payments, I mean it's really easy to do it. Personally, I don't feel like I'm spending much or even notice it at all. In addition to that , the 10% discount is quite attractive.

For the business owner, they may receive less money now but once Bitcoin's price increases again they'll undoubtedly make a huge profit. Based on that I'm confident this business will thrive.

What's particularly important now is Bitcoin itself. Through these shops a lot of people will become aware of Bitcoin and eventually become involved with it if they find the idea appealing. I will definitely use my bitcoin if I was in Switzerland.

Damn thats misleading!

I was thinking before reading through the thread that I would just take the reward and
put it straight back into Bitcoin by using a Bitcoin ATM, I'm sure there are some in Lugano.

I wouldnt be interested in using any $hit token just to get 10% back in it after spending
my precious Bitcoin.

It sounds like a scam to get value into that LVGA and fooling people into thinking
there is some value in it.

It is not a scam, just like i have explained in my previous posts in this thread. The LVGA stable coin doesn't have any value, it cannot be used outside Lugano, and its only use-case is for making payments to merchants within Lugano. This stable coin is backed by the Swiss Francs, so it is more like you are just spending fiat, but in a digital way; the initiative is clear and open for people want to take advantage of it, you are correct that it is not really about BTC, but it isn't a scam.
You can use your BTC in many places, you don't have to be in Switzerland. Check my previous posts to understand what this initiative is about. The initiative isn't exclusively about BTC. Lugano, Tether and GoCrypto are working together to promote crypto payment in Lugano, the idea is to encourage people to pay in usdt, BTC lightning and LVGA, and if you use LVGA you get a 10% cashback of the stable coin into your MyLugano app.

10% is great cashback, and Lugano seems to be a pretty popular tourist destination in Switzerland. How does the cashback work, though? Is using a centralized app to pay in BTC required? Or does the owner just send 10% of BTC purchases individually to BTC addresses of the customers?
It seems from franky1's reply that it's a centralized service, and transactions don't occur on the Bitcoin blockchain. It also seems from his replies that a token is being used, not Bitcoin...

To clear the confusion once and for all, the title of the topic is misleading!

The discount only applies when you pay with LVGA!
LVGA is a centralized token, it's pegged to the Swiss franc, it's impossible to convert on any exchange as it's impossible to transmit outside your app, it's basically PayPal money or Starbucks credit.

The promotion has nothing to do with Bitcoin, :
https://my.lugano.ch/en/


So this is shitcointalk material.


You do realize you're cheering for a CBDC centralized, fully censorable, mandatory KYC, not your keys, not your coins shitcoins here, right?

If this is real it's either Bitcoin is already known in the country or it just attract more customer to acknowledge Bitcoin. But I think using those method would target people who doesn't think of the transactions fee which mean customer would be lose on this promo. %10 is more likely a payment to the fee already so it's a win situation to the owner. But I guess it would hook more people to invest themselves and gather knowledge. But in our country it would be consider hassle due to Bitcoin is not known as payment and there's more convenient with less fee.

Cashback? How are they going to perform cashback? If something costs 0.01 bitcoin, are they going to send me back 0.0001 bitcoin? It's won't be comfortable, they'll also have to pay transaction fees. Maybe they should change the term and use sale instead.

By the way, to be completely honest, bitcoin isn't that popular to adopt it in your store and expect enormous sales growth since that day, at the moment, 10% sale on bitcoin payment from every merchant is just an enthusiasm of bitcoin and cryptocurrencies, which I highly appreciate. There were moments where person was offering 15% sale on bitcoin payments and I paid him without extra 15% sale. I just appreciate!

As an Italian I feel a bit made fun of by the hand move made in their billboards  ahahah, guess there are Italians in their marketing team.
 
Also in their tweet they abuse of it  ;D ;D

https://i.postimg.cc/7hh0680h/Immne.png

Anyway, beside the hassle of having to register in dedicated app, provide personal details ( which derails a bit the purpose of using cryptocurrency) and obtaining the cashback in for of  their not so diffused tokens  this is a very cool initiative to promote the use and the awareness of cryptocurrencies.

its also worth noting that the "mylaguna" app gives you tokens on a 3ac blockchain which if you look at their costs of becoming a user after the "trial" is $1100 for 2 years.

yep they want you to pay to become a member so that they as a custodian  can grab your bitcoin and sign over(federation of PoA) their silly valueless token on a ethereum subnetwork, which you paid $1100 just to be able to play with

follow the breadcrumbs.. chew on the crust:

https://www.3achain.org/en/use-cases/
https://www.3achain.org/en/casi-uso/my-lugano/
https://www.3achain.org/en/how-it-works/
https://www.3achain.org/en/users/

The discount might look enticing but they complicated everything with the introduction of the LVGA stablecoin. This will make you surrender your information to a centralized platform for a token that is worthless outside Lugano. They are just hiding behind Bitcoin to promote a shitcoin. The only advantage of this move is that it will increase cryptocurrency awareness because people will be introduced to Bitcoin and other cryptocurrencies. I agree it is not a scam but it can promote scams because the citizens of Lugano is been introduced to the wrong coins.

This is a great offer and the promotion of Bitcoin through it is very commendable. A 10% discount is a great money saver when we purchase something at a higher price. So when someone goes to buy something from here for a big amount then they will definitely be interested in paying in Bitcoin because they are getting 10% money back there. Bitcoin is really going to be a potential currency for shopping and receiving all kinds of services. and recently Google Cloud is partnering with Bitcoin's Lightning Network. these events point to a bright future for Bitcoin

Read all of the topic to get the truth of what's happening here, the belief that this initiative is run to promote BTC has been debunked, if you had read all of the thread, you would have made a different post.
No i am not doing that, my posts in this thread have all been to set the records straight and debunk the misleading op; i said it isn't a scam because i don't think it is likely people will lose money with this initiative, especially if they pay with BTC lightning, in which they do not have to use the MyLugano app, but they only have to pay merchants who will accept the payments with their GoCrypto pos terminal.

the 10% discount is in the form of the laguna stablecoin you speak of.. its not a 10% btc discount/cashback

I am aware of that. Did you read my previous posts in this thread? I've made mention of it more than once.

I never knew that Switzerland was so friendly regarding cryptocurrencies, if there are not any regulations or anything like that, I think the adoption rate will increase pretty quickly this way. Such things should be done in tourist places where tourists from all over the world come to visit those places and when they see Bitcoin and other cryptocurrencies being accepted everywhere, a lot of people will surely be interested in them.

A city like Tokyo or New York City should have such things and then we will see the adoption booming for sure because these are the most busiest and crowdy cities in the world and there are always a lot of foreign people in there so it surely will be useful.

Good one, I must say. But this will mostly cater towards people who are already using bitcoin, and not the ones who aren't. You have to understand that no amount of price could top the customer's convenience, they know that so well and thus would rather just pay the bill outright than be taught for 5-10 mins on how to create a bitcoin wallet, transfer their funds there, and then pay stuff. In my opinion, there has to be a more aggressive take on this, something along the lines of, "You get something for free if you download and pay us with a bitcoin wallet" or something similar. This way, people that are not within bitcoin's reaches back then would be at least more enticed to use bitcoin now.

Lugano has over 400 points of sale that support bitcoin payments via the lightning network, and two McDonald's in the city

POS terminals do not support other cryptocurrencies, only Bitcoin lightning network because transactions are instant and there is no fee

They are promoting there Luga app by doing this. Yes they are doing auto promotion in bitcoin due to their attractive offer but here their aim is to promote their own apps LUGA. But such physical crypto payment is a very positive point for Bitcoin

That's a really nice step by Lugano city to promote Bitcoin across the whole city with the medium of 250 shops. I like their way of promoting awareness regarding Bitcoin because everyone wants to have 10% cashback and for that purpose people would use Bitcoin as a way of payment for the purchases on those shops.

The people who use Bitcoin for such payments would try their best to learn about Bitcoin and at the same time they will share such deals with their friends and family members. I hope that other cities and country may also follow similar approaches to promote awareness about Bitcoin as the more people will learn about Bitcoin the higher will be the number of Bitcoin users.

is this for first purchase? or will run in every purchases conducted? if does then this is a perfect way to push bitcoin not only in this city but in the whole country.
imagine having that big cashback? 10% is not a small amount in each purchasing power.
congratulations to your city mate, you must be proud of it.

This great news as it will enhance and improve the use and adoption of bitcoin in that region. When did this cash back started there? Because it looks like this offer is coming at a very good time where people want to buy and hold bitcoin for the bull run as it is fast approaching. If that’s not their aim at all, it is still okay since they’ll have improved sale on their products and people awareness about bitcoin will increase there, people love going for discount price than paying full price for a product.