Complementary currencies and bitcoin

[mrozzsr]

Hello

Iam creating new project in UK.
See webpage presenting this project: http://www.crowdfunder.co.uk/scottie-supplementary-regional-currency
Iam thinking about backing it up by Bitcoin.
Can you give me any feedback about options, or explanations why to do it or no?

I will be very happy to get any comments.

Thank you

[Assman]

The issue is convincing regional merchants to accept and require your currency.  Shopkeepers, etc, arent going to want to make it more difficult for visitors to purchase their goods/services.

[mrozzsr]

Its not issue if you just add it to valid national currency. In this case it will be more benefiting as people that have currency will be able to use it it this few shops along with national currency and they will seek this shops to use currency they got. And spreaded information about accepting this complementary currency is form of advertising.

[Xester]

If you are putting up a shop then just advertise that you are accepting cash, bitcoins, paypal and others as form of payment. The more options as mode of payment the more customers will try to purchase from your shop. And lastly dont forget to make good promotion both online and offline to boost your market.

[ikydesu]

That's good idea, with bitcoin recently can help country from inflation. But I'm not sure when I read the site and said it's physical currency, it's mandatory to be a physical? If physical bitcoin, it's need at least paper wallet to make it real, the problem is how educate people to create it, if the paper wallet create by the coordinators from the community, is that need a high trusted.

[szpalata]

Hello

Iam creating new project in UK.
See webpage presenting this project: http://www.crowdfunder.co.uk/scottie-supplementary-regional-currency
Iam thinking about backing it up by Bitcoin.
Can you give me any feedback about options, or explanations why to do it or no?

I will be very happy to get any comments.

Thank you

This is a laudable idea and the world need to come to terms with the fact that currencies need to complement each other for effective trading. Bitcoin is getting bigger and bigger and it needs to be integrated into our trading circus like you're doing to enhance trading.

[darthmaul]

Its not issue if you just add it to valid national currency. In this case it will be more benefiting as people that have currency will be able to use it it this few shops along with national currency and they will seek this shops to use currency they got. And spreaded information about accepting this complementary currency is form of advertising.

Or may be he can just implement a system which allows users to checkout from the store via a exchanger services. For example if Im transacting from USA country but buying stuff on Chinese site then I have to pay obviously in yen. So I find an option called PayPal which allows me to do the transaction in my own currency by converting the stated amount of yen. This type of system can be put in place so that user will come with their credit/debit card and just pay the amount equivalent to bitcoin. The buyer pays in USD or their own currency and seller gets paid into bitcoin with small amount of fees for transaction. I think that would be most easy stuff and good idea.