India's small merchants accepts bitcoin

[Mandoy]

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration  the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods  accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

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[BTCLovingDude]

this is why i believe regulations are going to be good for bitcoin. it simply leads to a lot of real adoption. and we have already seen it with Japan and how their regulations led to many merchants accepting bitcoin. and the same will be true about other countries.

[Guvn0r]

Great move..this ll clear the air of any unnecessary doubts and all that stuff.. If ordinary people like us starts to get involved and build a community, then I guess that will be a solid foundation for BTC in India.

[Juggy777]

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration  the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods  accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

Great to hear this, south India was on my trip list and will make a stop at this hotel to eat and pay here, I actually want to travel the world and Just pay with Bitcoins. If these merchants do accept it, it will help me a lot, send my friends gift from abroad and pay with Bitcoin, it's irritating to pay them via bank transfer and paypal acts weird most of the times. So this is good news for me staying abroad and for my Indian friends when will the confirmation come?

[pedrog]

No one is going to pay in bitcoin, transaction fee will make the price of meals double or more, and if the fee isn't quite right will he let the costumer leave without confirmation, or the client need to stay there for 48 hours waiting for confirmation?

With many low value transactions when the merchant tries to cash out bitcoins he will need to pay a very high fee to do so and his profits are wipe out.

It's just a marketing stunt, merchants have been doing this since 2012, don't know why people still pay attention to it, bitcoin isn't suitable for IRL use.

[niisarearning]

Its really good move but bitcoin till now not treated as currency still it is investing asset as far as my friends and other crypto enthusiasts will be speculating about future under the line of 5 or ten years and they keep storing it .

[Sniper44]

No one is going to pay in bitcoin, transaction fee will make the price of meals double or more, and if the fee isn't quite right will he let the costumer leave without confirmation, or the client need to stay there for 48 hours waiting for confirmation?

With many low value transactions when the merchant tries to cash out bitcoins he will need to pay a very high fee to do so and his profits are wipe out.

It's just a marketing stunt, merchants have been doing this since 2012, don't know why people still pay attention to it, bitcoin isn't suitable for IRL use.

i don't think so the high fees and double spend worries are only for users on the forum and social media. i have seen that in the real world merchants are not worried about these things and those who want to spend bitcoin will do it without concerning themselves about paying a $1.8 fee for a high priority transaction versus using their credit card and ending up paying a much higher fee.

[olubams]

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration  the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods  accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

This is something expected to happen in successive and even massively since government is coming out with a position to the favor of bitcoin. Accepting it before government position is not illegal from the way I see it since it has not been declared illegal only that government does not have a position that she is going with and that's where the small merchant exploited but today and in the next few days, the risk has paved of.

[dillpicklechips]

this is why i believe regulations are going to be good for bitcoin. it simply leads to a lot of real adoption. and we have already seen it with Japan and how their regulations led to many merchants accepting bitcoin. and the same will be true about other countries.

And I really see nothing wrong with regulation. With the government releasing regulation, people tend to trust more in this new thing particularly cryptocurrencies or digital currencies and specificall Bitcoin. Also it makes Bitcoin popular in the country where the regulation is announced. The exchanges especially local ones would not just disappear out of nowhere since they can be sued.

It really is a great news and a good way spreading awareness regarding Bitcoin. I wonder how they price their dishes. Maybe they update the price weekly or if there is a major change in Bitcoin's price.

[Kprawn]

I do not know if the "MoMandPoP" small businesses will be able to function in an environment where you have to pay these huge transaction

fees.  If I were them, I would signup as many people as possible to a off-chain service like Xapo and then have the benefit of zero

confirmations and instant free transactions. This might be the only way for them to do this, until the scaling problems have been sorted out. 

[SaitamaX]

I feel this is really a very good news for the people who have btc and want to buy things from it.

[stiffbud]

This is a really big move to allow more people to know about bitcoin in a cerfain country. Not only in india but I am looking forward to see that more and more sgops, be it small or big starts to accept bitcoin. It's time to let other people be educated that bitcoin can be used it ways like they are using fiat. Maybe more users will be a good sign for the future of bitcoin.

[erickkyut]

wow! this is a good news. this is only a proof that Bitcoin is making its way to be known and accepted worldwide. I can see that few years from now, many countries are starting to adapt Bitcoin and other cryptocurrency. Long live to Bitcoin!

[mudiko]

i don't think so the high fees and double spend worries are only for users on the forum and social media. i have seen that in the real world merchants are not worried about these things and those who want to spend bitcoin will do it without concerning themselves about paying a $1.8 fee for a high priority transaction versus using their credit card and ending up paying a much higher fee.

India's GDP per capita is around $1500 and $1.8 is a huge cost of transaction for them, if the customer does not shop in huge volumes $1.8 is not acceptable for anyone in India except rich. At the same time credit cards charge lower in India. Transaction fees are too high for daily usage of Bitcoin in poor countries.

[qiwoman2]

There is a glimmer of hope then that maybe in some places Bitcoin will begin to shine again as the last few weeks have been rough. The more merchants around the world to accept Bitcoin, the more chances we have of it surviving.

[itsallpc]

****8****

https://qz.com/1009386/bitcoin-accepted-here-the-tiny-family-restaurant-in-india-thats-embraced-virtual-currency/

The government of India is nearing to accept bitcoin in their country as a mode of payment. With that upcoming adoption small merchants are now thinking to accepts bitcoin as a form of payment in exchange for their goods.

But even without the governments declaration  the Suryawanshi restaurants in Bengaluru’s Indiranagar and Whitefield neighbourhoods  accepts bitcoin as payment. The reason why this small store accepts bitcoin is due to the owner who is a bitcoin enthusiasts and was accepting bitcoins since 2013.

With the governments move, soon many small merchants will be following Suryawanshi's example.

Thats really a great move.Every bitcoin enthusiast should follow this person and change should begin from ourselves.Well,bitcoin going to be legal in such a big country would really help for bitcoin progress.Bitcoin is soon going to be a part of day to day life of every one.

[makeba]

Yeah, I really don't understand how from an Indian's customer point of view this is a train to jump on. The fact that a restaurant merchant ACCEPTS BTC doesn't mean that he is also really GETTING paid in BTC. I guess to a degree is a badge of honor and a way to make the news.

Not to be a sour one, I really wish we'd get to pay for coffees and curries with BTC but I wouldn't do it myself just yet.

[rafajunior99]

this is why i believe regulations are going to be good for bitcoin. it simply leads to a lot of real adoption. and we have already seen it with Japan and how their regulations led to many merchants accepting bitcoin. and the same will be true about other countries.

I'm sure one day all countries will receive Bitcoin, one by one the country already trusts Bitcoin and uses it to shop in small stalls. Maybe this is proven Bitcoin is very easy to use in any case and has been received in the community.

[bitbunnny]

That doesn't surprise me very much, India was one of the first countries, I mean her citizens, who begun to use Bitcoin. The problem was lot of scam connected to India and that gave them bad reputation. Still the question is how is this realy going to function in practice regarding the existing problems.

[squatz1]

this is why i believe regulations are going to be good for bitcoin. it simply leads to a lot of real adoption. and we have already seen it with Japan and how their regulations led to many merchants accepting bitcoin. and the same will be true about other countries.

That's not the right way in the least to be using the word regulations, regulations are things that are going to try to simply REGULATE something. Adoption is what's going on in all of this and I highly doubt the adoption is happening at a rate that people are happy nor is it really happening at a very high rate at all. Maybe some merchants will tease that they'll be accepting it but it's not going to make a difference to them unless they can find out that they'll be losing money by not accepting Bitcoin-- that's when the real change come in.

This is nothing.