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Author Topic: Motivate currency exchangers in big city centres to exchange bitcoin ?  (Read 1487 times)
Webetcoins
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January 16, 2020, 04:59:40 PM
 #21


 
Edit: Just noted that the OP is 2010, and that the dumbo above resurfaced the thread with spam (now deleted). Anyhow, the topic is still a viable discussion, and it goes to show that progress of the OP's idea has not moved along too much.

Such posts always takes you to early days of bitcoin launch when bitcoin was just few cents.
I do agree that this idea is still an idea and doesn’t take the shape of reality even after 10 years. One of major reason for this is government regulations in most of the countries that forbid direct trading of bitcoin. But the way crypto is going up, I am sure very soon currency exchangers will join this market to have there share also.

Government regulations and the banned put on this digital technology is the major hindrance in its way of development. As most of bitcoin users are working on its promotion, common people will get awareness about it soon and this will definitely lead to the further development of this market. Then more and more people will come forward to join hands with the users of crypto market.

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January 16, 2020, 06:38:07 PM
 #22


 
Edit: Just noted that the OP is 2010, and that the dumbo above resurfaced the thread with spam (now deleted). Anyhow, the topic is still a viable discussion, and it goes to show that progress of the OP's idea has not moved along too much.

Such posts always takes you to early days of bitcoin launch when bitcoin was just few cents.
I do agree that this idea is still an idea and doesn’t take the shape of reality even after 10 years. One of major reason for this is government regulations in most of the countries that forbid direct trading of bitcoin. But the way crypto is going up, I am sure very soon currency exchangers will join this market to have there share also.

Government regulations and the banned put on this digital technology is the major hindrance in its way of development. As most of bitcoin users are working on its promotion, common people will get awareness about it soon and this will definitely lead to the further development of this market. Then more and more people will come forward to join hands with the users of crypto market.
We can't change with regulation from government to keep make bitcoin as legal currency payment and exist as investing assets because many countries look hate with bitcoin and try to banned bitcoin as investing assets, look loss competitor if bitcoin become popular and have higher price at the future.
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January 16, 2020, 09:30:13 PM
 #23

Since the idea of motivating local stores to accept bitcoin is IMHO pointless, i have another proposition which could work in the close future (1 year):

Motivating big currency exchangers in centres of major cities to accept internet currencies: Bitcoin, Liberty Reserve, Pecunix and such.
Because those companies are already into "currency buisness", they may be much easier to motivate to use electronic currencies, than local stores.

After people could exchange money for bitcoin on their street, perhaps it will be much much easier to motivate markets/supermarkets/shops to accept bitcoin.

Well said but it is only possible when the owners of those exchangers are open to innovating their ways. Most of the running people are old also don't have the guts to study the new tech and even don't want someone from their firm to.
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January 24, 2020, 10:13:03 PM
 #24

Since the idea of motivating local stores to accept bitcoin is IMHO pointless, i have another proposition which could work in the close future (1 year):

Motivating big currency exchangers in centres of major cities to accept internet currencies: Bitcoin, Liberty Reserve, Pecunix and such.
Because those companies are already into "currency buisness", they may be much easier to motivate to use electronic currencies, than local stores.

After people could exchange money for bitcoin on their street, perhaps it will be much much easier to motivate markets/supermarkets/shops to accept bitcoin.

It's a good proposal,  but cryptocurrency have to be legal in such countries before it can be considered.
Some of this stores are interested in crypto as a legal tender, but the instability in price, and the absence of instant crypto to fait exchange still affects their acceptance.
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January 24, 2020, 10:16:57 PM
 #25

That would boost the people's into using these crypto currencies if that happens. As far as I know there are a lot of people that uses crypto currencies but the thing that stops them from using it is because of the fact that very few of these population accepts bitcoin as a payment method. If currency exchanges accepts this, stores would do too.

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January 25, 2020, 11:18:37 AM
 #26

there are likes and dislikes if a small shop can accept payments using bitcoin.
the good news.
1. practical, efficient.
2. transparent transactions.

the bad news.
1. the cost of each transaction is still fairly expensive, especially if you buy a product under $ 1.
2. Wait a long time to confirm the block if you pay a cheap fee.

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January 26, 2020, 10:26:45 AM
 #27

there are likes and dislikes if a small shop can accept payments using bitcoin.
the good news.
1. practical, efficient.
2. transparent transactions.

the bad news.
1. the cost of each transaction is still fairly expensive, especially if you buy a product under $ 1.
2. Wait a long time to confirm the block if you pay a cheap fee.
This is because it is not widely employed in small shops in many countries, it is still in its productive phase. Once the payment method will become common everywhere and will be used by everyone, its cost will become stable. The people will not face the similar problems once it will be employed freely and fairly. This would happen because of the transparent transactions it offer.

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January 28, 2020, 05:52:10 PM
 #28

Many of them already are since they realize there is money to be made and why not add extra currencies to your exchange? The more the better. You don't want to be turning down customers because their coin is not listed. Even if it is merely a few dollars. With thousands of customers, those few dollars become thousands of dollars. They work more than stocks though since it is a traditional stock market. When I first saw it I was surprised bit I guess it is a good thing for even more crypto exposure.
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January 29, 2020, 12:37:19 AM
 #29

It is indeed a good move to start market adoption through bitcoin local exchanges that are big bit I think they need focus first about making it possible first for people to see allot of stores and markets that offer cryptocurrency as a payment option. Because merely opening a big exchange in a city will just go to waste if peoppe didn't know where cryptocurrency could be use in their daily lives.
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