Blockpay Lets Businesses Accept 8 Major Cryptos at Zero-Cost

[Ezekial2517]

Bitcoin.com recently chatted with Christoph Hering of Blockpay. Hering is an entrepreneur and the co-founder of Bitshares Munich. He shares with us his vision for Blockpay a new Point of Sale platform that allows merchants to accept a wide variety of cryptocurrencies at zero cost. The system will also have other features such as loyalty points that may entice people to use cryptocurrency for everyday transactions.

https://news.bitcoin.com/blockpay-businesses-zero-cost/

[bbc.reporter]

It is a nice initiative but what merchant would want to accept cryptocurrencies? They want "real money" in their cash registers. Not even bitcoin can attract them to want to have it because most of them do not know what it is. The ones that do will want to convert it to fiat right away to avoid the volatile nature of bitcoin.

Maybe the idea is too advanced for what is really wanted today.

[ranlo]

It is a nice initiative but what merchant would want to accept cryptocurrencies? They want "real money" in their cash registers. Not even bitcoin can attract them to want to have it because most of them do not know what it is. The ones that do will want to convert it to fiat right away to avoid the volatile nature of bitcoin.

Maybe the idea is too advanced for what is really wanted today.

I like the idea behind it, but I'm with you. Aside from select merchants that plan to hold (I give Overstock.com a huge +1 for this), most are going to want fiat. It gets rid of the volatility, which is important because you have to pay suppliers or you go out of business. I think it's too soon for this to be heavily utilized, though it's good to have the option open.

[ranlo]

It is a nice initiative but what merchant would want to accept cryptocurrencies?

Because their competitor next door is accepting crypto and generating more sales while they are having a hard time paying the rent and putting food on the table. 

Not every "merchant" is experiencing boom times.  Where do you live? Have you ever met a mercant? Have you ever seen a salesman get fired for failing to meet his commission quota because he turned down a potential Lambo sale simlpy because he refused to accept Marc's bitcoin as payment? 

Merchants who do not compete for sales will be eaten Darwinianly by those who adapt to the changing world around them.  Those who stand still and refuse to evolve will not survive as long.  That's called science, and if you can understand it, then it can help you predict the future.

They want "real money" in their cash registers.

Then they will end up with no money when Marc buys his Lambo in the store next door! LOL

Not even bitcoin can attract them to want to have it because most of them do not know what it is. bitcoin trancactions take a half hour, and blockpay takes 3 seconds.

There, fixed it for ya

The ones that do will want to convert it to fiat right away to avoid the volatile nature of bitcoin.

Blockpay supports bitUSD, bitEUR(o), etc which you obviously did not know about when you wrote this.  Learning is fun!

Maybe the idea is too advanced for what is really wanted today.

Which is?....

Please teach me, because I love to learn...

I like the idea behind it, but most are going to want fiat. It gets rid of the volatility, which is important because you have to pay suppliers or you go out of business. I think it's too soon for this to be heavily utilized

You will be pleased to learn that this "volatility" issue is no longer an issue, therefore, according to your logic, it will be heavily utilized.

When did I state that the lack of volatility means it will be "heavily utilized?" I stated it was a concern; in no way did I state, neither implicitly nor explicitly, that volatility was the sole reason for merchants to not utilize the system.

[ranlo]

I'm sorry, but I thought that you were only able to come up with only 1 reason as to why a free app that accepts all the hot new cryptocurrencies (in 3 seconds) won't be heavily utilized.

And since this reason that you came up with was indeed factually incorrect, I thought that you would simply leave the conversation.

Of course, if by "heavy" utilization, you are referring to Visa scale transaction levels, then even though this free app can handle these loads, they can't handle them right now anyway.  So, the scalability will grow with adoption was a basic assumption from the start.

In other words, scalability is not an obstacle to adoption here, and neither is transaction speed, or price volatility, so that just leaves.....................

this is where you say one thing that you think will keep a merchant from thinking that this free app that allows them to grow their customer base is NOTworth the capital expense of zero money...............

Since you are Legendary for posting mega frequently, I'm sure that youe silence will mean that you cannot fathom one possible reason why most merchants would turn down this FREE app.

This is BitShares posts get buried (because nobody can think of obstacles to heavy adoption besides the legwork of downloading the app for the merchant and training them to use it (which would net you a fat percentage of all their future transactions with this business model) (whaaaa?)

Did you know about that Mr Legen....dary?

It'd be easier for me to write out a list of reasons FOR why people should use the app. I don't know why you're so hostile. I am a pretty decent-sized investor in the crypto realm, have helped with (and still do) numerous projects, and I've been around a long time, but I'm not delusional. I know its limits. There are still many hurdles to cross, and it's something I, unlike most people around here, work to help achieve.