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Author Topic: When will more retailers accept Bitcoin  (Read 16742 times)
webtricks
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July 15, 2017, 03:39:29 PM
 #21

Bitcoin Merchantability is severely affected by 'volatility' and one of the major reason why merchants avoid using it in business.
Conducting day-to-day business is already risky venture and adding Bitcoin essence to it doubles your risk. Your planned profits are greatly manipulated with little change in BTC price.
Increased fees scenarios and long confirmation time frame add to this misery. Overall it is fatigue for businessmen to use cryptocurrencies in business at the moment.
If BTC shows more stable nature and comes out of speculation mode, then possible that we could see more real use of it on shops and stores.


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July 15, 2017, 03:49:11 PM
 #22

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

Alas every persons who use the cryptocurrency has eyes on this. However I believe that it would take a few more years before this goes into fruition as we still need a lot of work to do to fully implement and integrate bitcoin or other cryptocurrencies to our society as some has still ndo not even know a little bit out of this and I kni knowledge would still be the key.

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July 15, 2017, 04:10:39 PM
 #23

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

It is difficult for the store to accept bitcoin, it is still unstable, its value is constantly changing, this will pose risks to the stores, so, at present, most Of aviation affordability to put bitcoin into payment.
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July 15, 2017, 04:15:40 PM
 #24

When it becomes so easy to use that you don't have know what a blockchain is to use it!
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July 15, 2017, 04:18:16 PM
 #25

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

It is difficult for the store to accept bitcoin, it is still unstable, its value is constantly changing, this will pose risks to the stores, so, at present, most Of aviation affordability to put bitcoin into payment.

The value of bitcoin varies, but compared to all altcoins, it is still the most stable currency, in addition, bitcoin has a huge impact on the market, so it takes some time for it to be universal turn anywhere.

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July 16, 2017, 10:32:47 AM
 #26

I still think one of the main reasons for this is that there is still not enough people who own bitcoins. Sure there are still the problems with the confirmation time and fees but I think people would be able to find a way to solve that. Like how in the past not every shop have a credit card terminal.

This is why I'm glad the Japanese has decided to turn their eyes on bitcoin. If you can expect anyone to try on the latest stuff, that would be them. Even if it was China that mines most bitcoins, most of their digital purchases are still paid using yuans in apps. Hopefully there'll be a lot of bitcoin innovations that'll come out of Japan that could be applied elsewhere.
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July 16, 2017, 03:30:56 PM
 #27

I still think one of the main reasons for this is that there is still not enough people who own bitcoins. Sure there are still the problems with the confirmation time and fees but I think people would be able to find a way to solve that. Like how in the past not every shop have a credit card terminal.

This is why I'm glad the Japanese has decided to turn their eyes on bitcoin. If you can expect anyone to try on the latest stuff, that would be them. Even if it was China that mines most bitcoins, most of their digital purchases are still paid using yuans in apps. Hopefully there'll be a lot of bitcoin innovations that'll come out of Japan that could be applied elsewhere.
When there are more facilities or physical machines that can be used bitcoin instantly, many will adopt it and can be a good way for the growth of bitcoin again. More countries might implement it too soon since Japan and China already did.

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July 16, 2017, 04:36:03 PM
 #28

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

It would be great if more retailers will indeed accept bitcoin but we all know the on going problems with bitcoin. Slow confirmation times, volatility and on top of that the system can be a little bit confusing for the masses, so it still something that retailers should reconsider. 


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July 16, 2017, 06:24:47 PM
 #29

in my opinion there are a couple of things that are preventing retailers from accepting bitcoin:
1. people who own bitcoin are a lot but people who are willing to spend bitcoin are very little. this means the possibility of little to no customers.
2. price is volatile still. it has been becoming less volatile but we can see drama like blocks and split can cause bigger volatility again!
3. fees. although they have come down ever since spam attack stopped but if they go up again and remain high people will be even less willing in spending their coins.
4. things such as chain split. which are scary and nobody wants a scary currency when there is fiat.

when these change, more retailers will accept bitcoin.
I accept that the number of people spending bitcoin is less but it due to the lack of opportunities to spend bitcoin. I haven’t seen any store yet that accepts the bitcoin directly, this is the hurdles that keep on the users saving it or converting the bitcoin into fiat.

I guess people will start spending bitcoin once they find a cool place where bitcoin is accepted as a pay method.
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July 16, 2017, 06:55:22 PM
 #30

more retailers will accept BTC when there are more user friendly apps to complete payments and greater adoption in that particular retailers market
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July 16, 2017, 07:15:17 PM
 #31

I wish I could spend my bitcoins locally or even in my country at all (easily). Although it has helped me hang onto them and earn quite a bit over the years.
Same is the case here, I had quite decent earnings with the bitcoin and still it is doing great job for me in regards of earnings and adding some extra amount to my monthly income. But there still is no spot in my country to spend the bitcoin that I earned. I need my local currency for each & every payment that I have to make for billing etc.
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July 16, 2017, 07:21:16 PM
 #32

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

Retailers will start adopting bitcoin in all most countries the moment government gives them the go ahead and also ensure that there is massive publicity about it because by the time the total number of people in the crypto world is divided according to country basis, the figure remaining might not be enough to make a change for big retailer to spend funds on putting the necessary infrastructures in place to ensure the acceptance of bitcoin. Another reason is that if the timing of confirmation is settled and the price is more stable, then I see them accepting bitcoin until then, we just have to wait.
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July 16, 2017, 07:32:59 PM
 #33

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.
No, right now it would make very little sense to see an expansion of Bitcoin within the west. There isn't really a massive boots-on-the-ground community within the United States, especially when you compare the population sizes, and most people are not doing anything to make it massive thing within the US mainland. For online retailers there may be a bit more encouragement, but even then the ones that used to accept it have dwindled. That says one of two things: the demand isn't there, or people want the option but don't want to spend anything yet.
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July 16, 2017, 09:00:42 PM
 #34

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.
No, right now it would make very little sense to see an expansion of Bitcoin within the west. There isn't really a massive boots-on-the-ground community within the United States, especially when you compare the population sizes, and most people are not doing anything to make it massive thing within the US mainland. For online retailers there may be a bit more encouragement, but even then the ones that used to accept it have dwindled. That says one of two things: the demand isn't there, or people want the option but don't want to spend anything yet.
Just do not need to imagine yourself more than there is something in fact. We understand that the bitcoins are very limited and practically 1% of the total population of the Earth. Maybe I'm mistaken in quantity, but in reality there are very few people. Therefore, it is not necessary to say that some country starts using crypto currency very much.

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July 16, 2017, 11:59:18 PM
 #35

"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"

article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/

"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."

It makes sense that a transition to accept bitcoin would be underway for more US-based stores.

Retailers owners will accept bitcoin payment if they use bitcoin, if they consider bitcoin is profitable for their business.
So, if you want more retailers accept bitcoin, go on and ask them : what do they think about bitcoin? whether they want to use it or not, show to them bitcoin advantages and disadvantages. But, I doubt they will accept bitcoin if it still have two major problems regarding high fees and confirmation time.
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July 17, 2017, 01:46:14 AM
 #36

As many said i would surely agree with them bitcoin is indeed volatile currency and many businesses can be affected because of this for the good or the bad, i asked few retailers that what's the reason for not accepting bitcoin even though you are a holder and they said " Bitcoin is good and i have got good profits but we normally have to make payments to the vendor next day and if we accept bitcoin we will have to convert daily which won't be possible everyday and as you see the price has falled by a great margin so we may start the day with $2300 but price ends with $1900 in long run i know price will increase but in order to pay the vendor i will have to sell at a huge loss" . This kind of makes sense and only the huge stores can afford to make a move like this. Don't always blame the retailers think from their point of view for once.


If BTC shows more stable nature and comes out of speculation mode, then possible that we could see more real use of it on shops and stores.
If bitcoin was stable it would still be at $0.001 and I'm sure most holders won't care much if retailers don't accept bitcoin if price becomes stable profit will reduce significantly for holders and no one really wants to see a situation like this.
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July 17, 2017, 01:55:40 AM
 #37

Not just USA but rest of the world will accept the bitcoin too in local shops. Just take examples of heavily populated countries like India, china, Europe they have so many options open and they can easily be accepted there. Even there is news that few of the hotels started accepting bitcoin in India. It wouldn't be that far when everyone will realise the use of it.


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July 17, 2017, 02:08:27 AM
 #38

One day more and more retailers will accept bitcoin as payment, It will become a standard payment just like fiat maybe couple years from now. Hopefully August 1 update will become an advantage for payment processes and faster confirmation so that more companies will trust the bitcoins decentralize system.


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July 17, 2017, 03:52:39 AM
 #39

The problem of Bitcoin are transactions speed and transactions fee, if both of them can be handle then retailer will consider adapting Bitcoin, but the problem lies in the price volatility, as we know Bitcoin price change every day and for the retail shop who got small profit from the selling will be difficult to adapt it


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July 17, 2017, 04:48:26 AM
 #40

Bitcoin has inbuilt deflation. At present, supply is limited and demand is increasing because of increased interest in cryptocurrencies. With time you can buy more things with same amount of Bitcoin. This make people hoard it and why would people use bitcoin instead of its fiat which is an inflationary counterpart. People are largely using it as an investment unwilling to use it for day  to day transactions.

Moreover, because of less market cap it is still very volatile. A small news can bring an instant negativity and hence leads to dip in price which doesn't make Bitcoin ideal for everyday use.

I think in future too the situation will remain the same and Bitcoin largely will serve as an investment asset than a currency.
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