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Author Topic: Reasons of why bitcoin accepting shopping sites are not famous  (Read 1672 times)
jakelyson
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April 16, 2017, 02:14:22 PM
 #41

There is not that many people using bitcoin and maybe the percentage of bitcoin users that are really online shoppers are very low as well. So, the effect of accepting bitcoin in a shop is very minimal.

ASHLIUSZ
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April 16, 2017, 02:22:00 PM
 #42

There is not that many people using bitcoin and maybe the percentage of bitcoin users that are really online shoppers are very low as well. So, the effect of accepting bitcoin in a shop is very minimal.


As said it's one of the prime reason for the decreased popularity of​ bitcoin accepting stores. This will become popular when the user rate increases high. Also bitcoin accepting shops are found low, and also only limited service were available that we cannot get what we look for, but can get the one provided by the service providers​.
Rahar02
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April 16, 2017, 02:43:16 PM
 #43

We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites. The reason is that these online shopping sites do not advertise their sites they even do not advertise on here which is the biggest bitcoin community and where they do not need any higher budget for advertising but can start a smaller signature campaign.
There are a lot of sites which accepted bitcoin transaction back to last few years when a transaction doesn't need a lot of time to be confirmed. Everyone could access those sites on Google of course, search it which took place in your city/country.
But, how much people willing to spend their precious bitcoin instead of just using fiat money to do a transaction easier and faster today? maybe just a few because many people think to saving their bitcoin as long term investment.
d.kevin29
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April 16, 2017, 03:26:04 PM
 #44

We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites. The reason is that these online shopping sites do not advertise their sites they even do not advertise on here which is the biggest bitcoin community and where they do not need any higher budget for advertising but can start a smaller signature campaign.
There are a lot of sites which accepted bitcoin transaction back to last few years when a transaction doesn't need a lot of time to be confirmed. Everyone could access those sites on Google of course, search it which took place in your city/country.
But, how much people willing to spend their precious bitcoin instead of just using fiat money to do a transaction easier and faster today? maybe just a few because many people think to saving their bitcoin as long term investment.

Steam can be considered an online shop, and they do accept Bitcoin. The payments are even instant..

For a clothings shop, or something similar to Amazon, it would be easy to implement BTC. That's because they're giving you a term of 2-3 days for shipping, time in which they can see whether the payment has been confirmed or not.

My guess is they do not want to accept BTC because of the highly volatile price.
avikz
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April 16, 2017, 04:17:54 PM
 #45

There are some reasons for what shopping sites don't accept bitcoin for selling products. Most of the shopping sites are legal and bitcoin's legal status is still not clear in many countries. So they are not sure whether to accept it or not, because it may create a lot of problem for them during audit. It may affect their tax status in that country as well as enforcement agencies can start running behind them.

Also the dynamic pricing of bitcoin can also be another reason for not accepting bitcoin. The percentage of profit can differ from time to time. So it is not possible to keep a dynamic price for the products which will change every hour. A product value can change from 1 grand to 1.5 grand within an hour if the bitcoin price is not changed with the market rate. These are two basic reason I can say. 

jc89
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April 16, 2017, 05:11:50 PM
 #46

We all can see that on internet there are a lot of online shopping sites which have a lot of customers even bitcoin users also need paypal to shop online while they do not know that with bitcoin they can shop online easily without any exchange but they do not know about these sites. The reason is that these online shopping sites do not advertise their sites they even do not advertise on here which is the biggest bitcoin community and where they do not need any higher budget for advertising but can start a smaller signature campaign.
Those new sites are just trying to see whether accepting bitcoin would be successful and profitable.Once they get good results,they would start advertising their sites that they would start accepting bitcoins.

But how come they will get any profit from accepting bitcoin if the bitcoin users does not know that they are accepting bitcoin. They must advertise that  they are already accepting bitcoin from the start. That way, they can evaluate whether accepting bitcoin as payment is profitable or not.

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April 16, 2017, 05:15:37 PM
 #47

There are not much web shops that are accepted Bitcoins and they are not well promoted as well so they need better advertising. Also you can't find many diverse shops so users can't buy as much different goods as they would like to. I think many merchants still think that accepting Bitcoins brings too much risk for them.

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