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Author Topic: How can we encourage local businesses to accept BTC?  (Read 184188 times)
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December 03, 2016, 01:06:39 AM
 #681

It is true that bitcoin still need a lot of acknowledgement, but the real problem is how to convince them that bitcoin is a good payment system, most of the time, the news only talk about how a criminal ask for ransom in bitcoin, how people's wallet got hacked, i think we need to convince the local owner that bitcoin is reliable and they can get profit from bitcoin transaction, this need  a lot of time, because when we talk about business most of them prefer stability and predictable profit and fiat is more stable than bitcoin and fiat easier to spend

indeed, bitcoin's volatility is one of the problems, because when you look at it from a local business point-of-view, bitcoin transactions do have lower fees than credit/debit cards fees (they usually have a contract for POS terminals with flat rate/transaction + monthly cost). Even with the slow confirmations bitcoin is faster because they're only credited once a day/week normally.

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December 03, 2016, 04:31:38 AM
 #682

It is true that bitcoin still need a lot of acknowledgement, but the real problem is how to convince them that bitcoin is a good payment system, most of the time, the news only talk about how a criminal ask for ransom in bitcoin, how people's wallet got hacked, i think we need to convince the local owner that bitcoin is reliable and they can get profit from bitcoin transaction, this need  a lot of time, because when we talk about business most of them prefer stability and predictable profit and fiat is more stable than bitcoin and fiat easier to spend

indeed, bitcoin's volatility is one of the problems, because when you look at it from a local business point-of-view, bitcoin transactions do have lower fees than credit/debit cards fees (they usually have a contract for POS terminals with flat rate/transaction + monthly cost). Even with the slow confirmations bitcoin is faster because they're only credited once a day/week normally.
This thing really bothers most businesses out there that why they dont tend to adopt bitcoin because of price fluctuations. If bitcoin price would be stable i think thats the time they will adopt it because they already know that its not risky already when they are switching.Adoption on this matter would takes time because of some problem they saw on bitcoin.

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December 03, 2016, 06:01:09 AM
 #683

I think its pretty difficult to do that, because it has a bad name.The most stores are not convinced by the bitcoin.
The first you need to explain and introduce to them what is bitcoin, after that you need to convert bitcoin to fiat every day to state the selling bitcoin price and then does infrastructure for bitcoin payment already available for the store
I think to encourage still need a lot of things to cover and to improve
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December 03, 2016, 06:48:55 AM
 #684

There are lots of approach on how to encourage local businesses to accept bitcoin ,We can encourage local businesses by putting less pressure and showing more results. Showing results of the growth of bitcoin and how many people us it.
Once they see that they will decide by themselves that's it's a good move to implement bitcoin into their business as payment method.
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December 03, 2016, 08:42:58 AM
 #685

Showing results of the growth of bitcoin and how many people us it.

WOW, what do You call as "growth of bitcoin"?
In no one of clients is there with Bitcoin, for what reason "local business" will start to use it?

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December 03, 2016, 08:59:02 AM
 #686

Showing results of the growth of bitcoin and how many people us it.

WOW, what do You call as "growth of bitcoin"?
In no one of clients is there with Bitcoin, for what reason "local business" will start to use it?

That's simple then they will not use it either nor adopt it since no clients are there with bitcoin. But in reality, that is an impossible thing to happen because we can't deny what is the success of bitcoin now. The price is keep on increasing that means the demand is getting higher and many people are already using it. And that can make a local business be encouraged to use bitcoin.
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December 03, 2016, 01:38:55 PM
 #687

Showing results of the growth of bitcoin and how many people us it.

WOW, what do You call as "growth of bitcoin"?
In no one of clients is there with Bitcoin, for what reason "local business" will start to use it?

That's simple then they will not use it either nor adopt it since no clients are there with bitcoin. But in reality, that is an impossible thing to happen because we can't deny what is the success of bitcoin now. The price is keep on increasing that means the demand is getting higher and many people are already using it. And that can make a local business be encouraged to use bitcoin.
But still it need our hard work to come to the local business we have to take the start to continue the use of bitcoin in our local businesses. we have to start some services like recharging mobile phones or paying bills and have to ask for only bitcoin so for the convenience of paying bills and recharging mobile phones they will try to adopt bitcoin and in this way the success of bitcoin will be promoted among the local marketers .


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December 03, 2016, 03:34:48 PM
 #688

The main question is that no one is asking to pay in BTC.
For example, i have talked to one guy from NY to sell goods for BTC, he is actually on ebay with 400 products.
He have refused this idea on the basis of no requests for that payments.
The other thing is hard exchange USD/BTC fluctuations, and he need keep all costs in US $.

In this way, try to convert someone in the first person to adopt BTC as payment, and You will see the face of reality.

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December 03, 2016, 03:55:49 PM
 #689

The main question is that no one is asking to pay in BTC.
For example, i have talked to one guy from NY to sell goods for BTC, he is actually on ebay with 400 products.
He have refused this idea on the basis of no requests for that payments.
The other thing is hard exchange USD/BTC fluctuations, and he need keep all costs in US $.

In this way, try to convert someone in the first person to adopt BTC as payment, and You will see the face of reality.

BTC must be more promoted and advertised yet to make the negociations easier and more profitable. I wouls say there isn't many people in the world using Bitcoins yet, that is why it's hard to make deals with the coin. If this fact doesn't change, it will continue being hard to buy stuff with BTCs.

What can happen, is when the Bitcoin price will become more stable, those guys who fear to lose money exchanging USD/BTC will feel safer to start doing this.
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December 03, 2016, 04:13:22 PM
 #690

money exchanging USD/BTC

This is not a big problem, anyone can offer the payment via BTC with a price in US $ at the day of purchase.
But for small orders the exchange fees becomes big and the profit to buy something expire.

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December 03, 2016, 05:07:51 PM
 #691

Local shops are managed by people like me and you. Apparently, these people want to earn money and attract buyers. Perhaps the best way is when we go to the this store to ask seller to pay him with bitcoin. If this is done by several customers for some time he will be forced to learn and accept it as a new payment mean. So more and more local stores see each other will be bitcoin friendly.
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December 03, 2016, 05:13:47 PM
 #692

What missing in the scene is the number of people willing to do a bitcoin transaction with them.

I have never seen someone, who have asked to pay with bitcoin at the shop.


In many countries people have never even heard of bitcoins yet. How do you expect them to accept it when they dont even trust it?

Not everyone in the world is having same acumen and they fail to understand the mechanism how the coin works and how it can change the economy. However local businesses prefer local currencies and not bitcoin.

It is true that bitcoin still need a lot of acknowledgement, but the real problem is how to convince them that bitcoin is a good payment system, most of the time, the news only talk about how a criminal ask for ransom in bitcoin, how people's wallet got hacked, i think we need to convince the local owner that bitcoin is reliable and they can get profit from bitcoin transaction, this need  a lot of time, because when we talk about business most of them prefer stability and predictable profit and fiat is more stable than bitcoin and fiat easier to spend

Indeed this is the most difficult thing to do. People are comfortable with fiat and dont really accept bitcoin as a safe and reliable mode of payment, and are not willing to accept it. Most of use have had first impression of bitcoin with dark networks, ransomware, mining botnets and ponzi schemes. So as soon as they hear of bitcoin they have a negative reaction.

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December 04, 2016, 10:55:58 AM
 #693

Local shops are managed by people like me and you. Apparently, these people want to earn money and attract buyers. Perhaps the best way is when we go to the this store to ask seller to pay him with bitcoin. If this is done by several customers for some time he will be forced to learn and accept it as a new payment mean. So more and more local stores see each other will be bitcoin friendly.

The owner would surely be intrigued about bitcoin when you do that. This is an excellent answer, imo. I've been reading this thread for weeks now and you've got the best answer for me.

People fear getting left out. If 5-10 people came to your store asking if you accept bitcoins, you would think that all the other similar stores are accepting bitcoins and you're the only one that doesn't. Without even confirming that thought, you would most probably look up online what is bitcoin and then start accepting it.

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December 07, 2016, 04:59:18 PM
 #694

I do not think that we have to encourage them honestly we just need to have some patience so the bitcoin can grow more and also used more and more.
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December 07, 2016, 06:26:31 PM
 #695

It is basically on the owner's experience and way of thinking. If they are an experimental type of business man then explaining to them what bitcoin can really provide is such an easy task but when it comes to those who are too careful about their business the only thing that could convinced them is that let them experience first what can bitcoin provide.

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December 08, 2016, 05:33:16 AM
 #696

I do not think that we have to encourage them honestly we just need to have some patience so the bitcoin can grow more and also used more and more.

If you just be patience alone nothing will improve, if the adoption arise only Bitcoin value and demand will increase on it. So try support initialize Bitcoin in their business it would helpful for sure.
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December 08, 2016, 07:43:03 AM
 #697

I do not think that we have to encourage them honestly we just need to have some patience so the bitcoin can grow more and also used more and more.

If you just be patience alone nothing will improve, if the adoption arise only Bitcoin value and demand will increase on it. So try support initialize Bitcoin in their business it would helpful for sure.
Just the problem about the time, Indian, Russian may some other country will come. The bitcoin will increase for naturally and i think if we can't do anything and just watch it. A lot of the people Indian were following for using bitcoin caused by the disaster of his economic. With all of advantages and bitcoin will spread more and more.



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December 08, 2016, 07:59:49 AM
 #698

I do not think that we have to encourage them honestly we just need to have some patience so the bitcoin can grow more and also used more and more.

If you just be patience alone nothing will improve, if the adoption arise only Bitcoin value and demand will increase on it. So try support initialize Bitcoin in their business it would helpful for sure.
Just the problem about the time, Indian, Russian may some other country will come. The bitcoin will increase for naturally and i think if we can't do anything and just watch it. A lot of the people Indian were following for using bitcoin caused by the disaster of his economic. With all of advantages and bitcoin will spread more and more.

Just to clear what you said. You seem to be saying something about India and Russia here and how bitcoin will be adopted gradually through time.

I agree with your statements, Bitcoin will surely be adopted by the world slowly. It would be faster if big corporations like amazon and google implemented Bitcoins. But that's still far off. If small business would help with the adoption of bitcoins, this could be a start for us to grow the number of people using it.
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December 09, 2016, 04:35:19 AM
 #699

Business wills adopt bitcoin on their own when they see an opportunity to make lots of money, currently this is not the case for most business for the lack of people using bitcoin but this is bound to change.
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December 09, 2016, 10:45:40 AM
 #700

Business wills adopt bitcoin on their own when they see an opportunity to make lots of money, currently this is not the case for most business for the lack of people using bitcoin but this is bound to change.

No they won't that's why we need to encourage them to use bitcoins especially to the businesses that is near to us.

And we can simply tell that bitcoin can boost their sales and another option for their customers to pay with the services or products that they wanted to buy.

That is for free if they will just simply adopt bitcoin

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