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Author Topic: How can we encourage local businesses to accept BTC?  (Read 156919 times)
batang_bitcoin
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June 21, 2017, 06:04:48 AM
 #1201

This would be very risky since it is not that easy to understand, using bitcoin is not just about making your own account and start visiting forums. To encourage local businesses to accept BTC you should give them broad explaination. discuss to them the pros and cons of using BTC. You should guarantee to them that their money wont get in to waste
I don't find it very risky because you will only explain plainly what bitcoin is to them. It's like a process, from easiest or familiar things into deeper ones. I advice to you that you shouldn't guarantee to them that their money will be wasted because of the movement of bitcoin's price worst comes worst if they have a weak feeling.

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June 21, 2017, 11:32:06 AM
 #1202

EDIT: big bull I said, forgot to add the bytes

size of transaction=in * 146 + out * 33 + 10 gives 189 bytes minimum, with BTC = 2500 USD this would make a minimum of 1.89 USD. If the creditcard charges 3%, the BTC is better for payments over 63 USD.

But most local businesses are selling simple stuffs like coffee, fruits, vegetables, donuts, etc. Those stuffs don't go higher than 63$. Nice computation, by the way, but that just gives us a conclusion that bitcoin is only good to use for huge purchases. As the time goes by, the transaction fee is going higher and higher. I was surprised last night seeing that a small transaction costs 0.002BTC for transaction fee. As time goes by, that 63$ for btc being a better payment method goes higher and higher. It might be 63$ today but it can be 70$ next week, and so on.

Yep. With SegWit and hopefully LN this will diminish. In any case, the fees are pushing the price up, at some point it becomes so expensive that people wont make all the volume of transactions needed to keep miners in profitable margin. This will force fees down. It is like any market with competition.

Apparently that "at some point" will be far from now. People are starting to become wiser on their transactions. They buy all at once instead of buying today, then buying again tomorrow. People will just cope with the transaction fee because they have no other choice. We can't force SegWit even with UASF. We would always have to transact even with the rising transaction fees.

Segwit and LN will really solve all these microtransaction problems and will help local businesses to accept bitcoins but will SegWit ever be activated? I don't really think so because it requires 95% of the miners and most miners don't want SegWit. LN is believed as just an idea for now and that we don't have the technology to implement it.

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June 21, 2017, 12:33:24 PM
 #1203

I am looking to help move BTC forward into our economy more and would like to get some suggestions on how we can get more retailers to accept BTC as a payment.  The best part about accepting BTC is that they do not have any threat of charge-back from the customer.  I am just looking for some more input before I start approaching some of these local retailers.
We could reach retailers individually and explain them about benefits of bitcoin.We must show them how easily transactions are carried out in bitcoins and how bitcoin payment could be made through scanning the QR code.Unlike paypal,we must explain them that transactions made in bitcoins are irreversible.We must gain their trust by giving them details about latest developments such as Japan legalizing bitcoins,China,Russia regulating bitcoins and even india to legalize bitcoins.


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Almeida
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June 21, 2017, 07:01:52 PM
 #1204

Segwit and LN will really solve all these microtransaction problems and will help local businesses to accept bitcoins but will SegWit ever be activated? I don't really think so because it requires 95% of the miners and most miners don't want SegWit. LN is believed as just an idea for now and that we don't have the technology to implement it.

I read somewhere that 80% of nodes already signaled for segwit, but I think is bull. How to know the current status of acceptability?

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June 21, 2017, 07:09:57 PM
 #1205

Segwit and LN will really solve all these microtransaction problems and will help local businesses to accept bitcoins but will SegWit ever be activated? I don't really think so because it requires 95% of the miners and most miners don't want SegWit. LN is believed as just an idea for now and that we don't have the technology to implement it.

I read somewhere that 80% of nodes already signaled for segwit, but I think is bull. How to know the current status of acceptability?

Ok, here:

https://coin.dance/blocks

over 80% supporting segwit2x, segwit+2mb block size.

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June 22, 2017, 08:20:11 AM
 #1206

Segwit and LN will really solve all these microtransaction problems and will help local businesses to accept bitcoins but will SegWit ever be activated? I don't really think so because it requires 95% of the miners and most miners don't want SegWit. LN is believed as just an idea for now and that we don't have the technology to implement it.

I read somewhere that 80% of nodes already signaled for segwit, but I think is bull. How to know the current status of acceptability?

Ok, here:

https://coin.dance/blocks

over 80% supporting segwit2x, segwit+2mb block size.

I just checked the link, the 85% was for the blocks mined today. Not for the mining networks that support Segwit. You can also check on their actual website, http://segwit.co/. We don't need all the other details anyway. 33.3% as I type this post. We're so far from 95% and it would be a long journey. How I cope to the increasing transaction fee is by getting more bitcoins through trading, buying and selling stuffs (on facebook groups). We have no other choice but to pay the transaction fee, anyway, while waiting for the SegWit to get activated (even though I really doubt it).

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June 22, 2017, 08:34:37 AM
 #1207

I just checked the link, the 85% was for the blocks mined today. Not for the mining networks that support Segwit. You can also check on their actual website, http://segwit.co/. We don't need all the other details anyway. 33.3% as I type this post. We're so far from 95% and it would be a long journey. How I cope to the increasing transaction fee is by getting more bitcoins through trading, buying and selling stuffs (on facebook groups). We have no other choice but to pay the transaction fee, anyway, while waiting for the SegWit to get activated (even though I really doubt it).

Will they be victims of their own greed? If the network sucks more and more as more and more regular people join the revolution, it will fail and they will have nothing but castles of sand.

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June 22, 2017, 09:40:09 AM
 #1208

I am looking to help move BTC forward into our economy more and would like to get some suggestions on how we can get more retailers to accept BTC as a payment.  The best part about accepting BTC is that they do not have any threat of charge-back from the customer.  I am just looking for some more input before I start approaching some of these local retailers.
try to invest in some Eload retailers using your bitcoins and also introduce first bitcoins in your retailers and also in your buyers,, we can encourage them to use bitcoin but not in fast way we can encourage them in step by step so that they will not difficult to understand.


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June 22, 2017, 03:24:16 PM
 #1209

3-5% is still a large difference than almost 100% transaction fees for bitcoin's microtransactions. You can never hide the fact that bitcoin users would know that when they are going to do a microtransaction, the transaction fee is almost equal to the amount that they are sending. You're just going to waste your time setting up all these "we accept bitcoin" things since most bitcoin users wouldn't use that service anyway if they are being practical.

Lol. Credit card machines? You can literally just plug in a credit card scanner to your phone in order to have a card transaction.

400 satoshi cost 1 cent of dollar currently.

EDIT: big bull I said, forgot to add the bytes

size of transaction=in * 146 + out * 33 + 10 gives 189 bytes minimum, with BTC = 2500 USD this would make a minimum of 1.89 USD. If the creditcard charges 3%, the BTC is better for payments over 63 USD.


But most local businesses are selling simple stuffs like coffee, fruits, vegetables, donuts, etc. Those stuffs don't go higher than 63$. Nice computation, by the way, but that just gives us a conclusion that bitcoin is only good to use for huge purchases. As the time goes by, the transaction fee is going higher and higher. I was surprised last night seeing that a small transaction costs 0.002BTC for transaction fee. As time goes by, that 63$ for btc being a better payment method goes higher and higher. It might be 63$ today but it can be 70$ next week, and so on.


And I know the answer after all research. Customers should have discounts when they will to pay with btc.

Sure discounts attract customers. But as a local business owner, are you prepared to charge less to people just because they are using bitcoins? You're lowering your profit with this choice.
but there are also big businessmen who are doing business of electronics, sports items and so many other thing you can go to them and can explin bitcoin to them in a good way. hope that will give good time to you.

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June 22, 2017, 08:07:01 PM
 #1210

try to invest in some Eload retailers using your bitcoins and also introduce first bitcoins in your retailers and also in your buyers,, we can encourage them to use bitcoin but not in fast way we can encourage them in step by step so that they will not difficult to understand.

Don't expect that it will be fast for those local businesses to understand and think that bitcoin can be profitable and helpful for their business. As there are some that will stay for cash to cash basis, credit card and PayPal payments. But of course there are people that are open minded when it comes to the upgrade of technology and willing to understand it, your idea is good.

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June 22, 2017, 09:01:14 PM
 #1211

3-5% is still a large difference than almost 100% transaction fees for bitcoin's microtransactions. You can never hide the fact that bitcoin users would know that when they are going to do a microtransaction, the transaction fee is almost equal to the amount that they are sending. You're just going to waste your time setting up all these "we accept bitcoin" things since most bitcoin users wouldn't use that service anyway if they are being practical.

Lol. Credit card machines? You can literally just plug in a credit card scanner to your phone in order to have a card transaction.

400 satoshi cost 1 cent of dollar currently.

EDIT: big bull I said, forgot to add the bytes

size of transaction=in * 146 + out * 33 + 10 gives 189 bytes minimum, with BTC = 2500 USD this would make a minimum of 1.89 USD. If the creditcard charges 3%, the BTC is better for payments over 63 USD.


But most local businesses are selling simple stuffs like coffee, fruits, vegetables, donuts, etc. Those stuffs don't go higher than 63$. Nice computation, by the way, but that just gives us a conclusion that bitcoin is only good to use for huge purchases. As the time goes by, the transaction fee is going higher and higher. I was surprised last night seeing that a small transaction costs 0.002BTC for transaction fee. As time goes by, that 63$ for btc being a better payment method goes higher and higher. It might be 63$ today but it can be 70$ next week, and so on.


And I know the answer after all research. Customers should have discounts when they will to pay with btc.

Sure discounts attract customers. But as a local business owner, are you prepared to charge less to people just because they are using bitcoins? You're lowering your profit with this choice.
but there are also big businessmen who are doing business of electronics, sports items and so many other thing you can go to them and can explin bitcoin to them in a good way. hope that will give good time to you.

Yes there is a lot of those businessmen who deals with that kinds of invesrments you've mentioned, but the probleme is how it iw to be implemented. One ways to implement this is you should be developing a seminars for these people who engaged on a particular business. It can be consumers, owners and other people who planned a future business ahead. The aim is to attract those people regarding the profit that they may gain if they will accept bitcoin as payment of their businesses, more importantly is the time consumed of transactions; and it's a cashless type of spending. Let them register an online wallet in order for them to have assurance on the earnings they will.be having soon bitcoiners will transact in a test run to those businessmen.

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June 23, 2017, 02:22:12 PM
 #1212

try to invest in some Eload retailers using your bitcoins and also introduce first bitcoins in your retailers and also in your buyers,, we can encourage them to use bitcoin but not in fast way we can encourage them in step by step so that they will not difficult to understand.

Don't expect that it will be fast for those local businesses to understand and think that bitcoin can be profitable and helpful for their business. As there are some that will stay for cash to cash basis, credit card and PayPal payments. But of course there are people that are open minded when it comes to the upgrade of technology and willing to understand it, your idea is good.
yes it can be time consuming but we nee to take a step, because if we will start work  on them right now ta time will come when they  will become able to learn about bitcoin and then they will haply start using bitcoin in their business.

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June 23, 2017, 07:09:44 PM
 #1213

there is a lot of those businessmen who deals with that kinds of invesrments you've mentioned, but the probleme is how it iw to be implemented. One ways to implement this is you should be developing a seminars for these people who engaged on a particular business. It can be consumers, owners and other people who planned a future business ahead. The aim is to attract those people regarding the profit that they may gain if they will accept bitcoin as payment of their businesses, more importantly is the time consumed of transactions; and it's a cashless type of spending. Let them register an online wallet in order for them to have assurance on the earnings they will.be having soon bitcoiners will transact in a test run to those businessmen.
Yes such businessmen need to introduce bitcoin in their area, they need to arrange seminar and other such programs through which they can collect people.

As soon as people will get knowledge about bitcoin and as soon as they will start using bitcoin for purchasing stuff the merchants will become more confident and will allow people to use bitcoin for shopping, but it think to educate people about bitcoin it is a time consuming activity and not so easy.



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June 23, 2017, 09:59:09 PM
 #1214

try to invest in some Eload retailers using your bitcoins and also introduce first bitcoins in your retailers and also in your buyers,, we can encourage them to use bitcoin but not in fast way we can encourage them in step by step so that they will not difficult to understand.

Don't expect that it will be fast for those local businesses to understand and think that bitcoin can be profitable and helpful for their business. As there are some that will stay for cash to cash basis, credit card and PayPal payments. But of course there are people that are open minded when it comes to the upgrade of technology and willing to understand it, your idea is good.
yes it can be time consuming but we nee to take a step, because if we will start work  on them right now ta time will come when they  will become able to learn about bitcoin and then they will haply start using bitcoin in their business.

Yes take one step at a time and it will always be not too hasty since it is a business involved. Those business owners will clarify and know everything just for the security of their investment, business and money. They won't allow themselves to be taken for granted so they will even do their very own research and once they are convinced, they will volunteer ask us with it.

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June 24, 2017, 04:08:13 PM
 #1215

The problem is not many people know about bitcoin, especially in my country. So, if a shop accepted bitcoin, it's like a useless move. Because nobody in my area using bitcoin.
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June 24, 2017, 10:55:44 PM
 #1216

The problem is not many people know about bitcoin, especially in my country. So, if a shop accepted bitcoin, it's like a useless move. Because nobody in my area using bitcoin.

Once someone opened it up, it's a great step.

I will share you the journey of our local exchange here, coins.ph. It was established even the status of bitcoin users here in the Philippines is not that much. I think Im using their service for 6 months before I noticed the increase in adoption of bitcoin here in our country. Take note, they have a service that really you can't find on any exchange despite the fact that only few people will used it since bitcoin is not known well here.

But today look how far it grows. Most of the bitcoin newbies uses coins.ph as their first wallet and now began exploring how to earn bitcoin. Currently, there are already lots of people who uses their service and that means that the adoption of bitcoin really grows. You have to take the risk before making it become successful which their team did.

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June 25, 2017, 03:47:04 AM
 #1217

Maybe the best way is orienting them about bitcoins and telling them what is the benefits of getting into bitcoin and benefits in accepting it in businesses in this days,that would do alot i think

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June 27, 2017, 12:12:51 PM
 #1218

I think Global business are already accepting Bitcoin. But in local business in local country need to accept bitcoin for encouraging Bitcoin. This should be a convincing matter of Govt. In today democracy most of the country like India and USA also not accepting bitcoin fully as accepted partially.
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June 28, 2017, 03:48:38 PM
 #1219

It's a good question! Then, entrepreneurs are mostly looking for safety and comfort! Does Bitcoin provide that? Besides, are your customers users of this technology? Of course, accepting Bitcoin costs nothing, ultimately lacking more ambition and business vision of these entrepreneurs, because the potential Bitcoin is incalculable.
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July 01, 2017, 04:11:03 PM
 #1220

ive been really thinking about this and how can i accumulate bitcoin also
when i order online i always ask if they accept bitcoin as payment  and the usual reply was  "what is bitcoin?"
i feel bad only small percentage specially here in our country has knowledge about bitcoin
so i said i guess aside by trading cryptocurrencies i would love to have an online store and accept btc as payment
and keep it wait for the increase in value is it nice double profit haha
i guess all we can do to contribute is spread the news guys

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