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Author Topic: When will more retailers accept Bitcoin  (Read 16742 times)
castellodocet
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April 04, 2018, 08:35:46 PM
 #881

I hope that more and more countries will follow japanese's lead, giving Bitcoin its earned relevance in the whole society system
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April 04, 2018, 09:14:54 PM
 #882

Satoshi Nakamoto is a japanese, therefore they have to patronize their own. And Japan have seen the potential of this invention. That is why the government is really there to back up bitcoin for its progress.
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April 04, 2018, 09:36:49 PM
 #883

What we need most now is massive education about bitcoins and its several benefits as compared to fiat. Here in canada some kfc outlets and personal retailers have started accepting btc because they are well informed and they fully understand the impact.
Yes, I read about the fact that Canada is introducing innovative technologies in all spheres of human life before other countries and just as easily adopted the technology of blockchain and cryptocurrency. In order for cryptocurrencies to enter our lives, we need a greater dissemination of information that will familiarize people with the cryptocurrencies and the technology on which they are based.
Blockchain energy is becoming more popular now and most of the countries are now accepting this technology, crypto currencies are now becoming more popular and it is expected that in near future people will totally adopt crytpo currencies for everything.
I'm hoping someday ,may accept this technologies in near future all over the world. I know there's a lot of discrimination but if we get a knowledge for this kind of transaction ,everybody can adopt what crypto means and the impact of the country.Everything may happen at the right time .
numzie
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April 05, 2018, 01:52:39 PM
 #884

In Denmark it's not very common to accept Bitcoin yet.

I recently opened up to accept bitcoin in my own onlineshop at https://authentic.dk, but so far noone has used it.

However, what could be tricky - is the fee - as it varies a lot - that is so far I can read of this chart: https://bitcoinfees.info/.

In my shop, the bitcoin amount is automatically exchanged into my local currency, but there is a lot difference whether I have to pay $0,17 in fee or $37 (which would make it useless!).
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April 12, 2018, 08:29:48 AM
 #885

Amazing, in Japan, many retailers are receiving Bitcoin payments.
In Japan, the use of transactions with Bitcoin has been facilitated.
This greatly facilitates the user in performing daily transactions.
I want to someday all countries in this world can allow the use of Bitcoin so that money between countries can be more effective and one type does not require exchanges if you want to shop in different countries.
Just John
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April 12, 2018, 08:47:54 AM
 #886

It might take a little while longer but they will all come to accept bitcoin in time but bitcoin devlopers need to figure out the issues with transactions times and fees when transaction volumes increase to make it faster.

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April 14, 2018, 08:31:21 AM
 #887

What we need most now is massive education about bitcoins and its several benefits as compared to fiat. Here in canada some kfc outlets and personal retailers have started accepting btc because they are well informed and they fully understand the impact.
Yes, I read about the fact that Canada is introducing innovative technologies in all spheres of human life before other countries and just as easily adopted the technology of blockchain and cryptocurrency. In order for cryptocurrencies to enter our lives, we need a greater dissemination of information that will familiarize people with the cryptocurrencies and the technology on which they are based.
Blockchain energy is becoming more popular now and most of the countries are now accepting this technology, crypto currencies are now becoming more popular and it is expected that in near future people will totally adopt crytpo currencies for everything.
for countries that have allowed bitcoin i do not think it's a problem, but for a country that has not yet legalized it like my country, bitcoin can not be used for transactions. hopefully soon be authorized so free for all transactions

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April 14, 2018, 08:45:42 AM
 #888

"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.


This is applicable for limited well known country, first the availability of internet facilities and progressive area is number one availed this type of activities like accepting bitcoin in any different stores but for some other country like here in the Philippines
is not already on the floor it is still in rumor and speculation for some other people. People here in the Philippines are limited to use for almost college student but the rest is no knowledge about this.
Nyeyzel
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April 14, 2018, 09:11:17 AM
 #889

For me, if the majority of the people knew about bitcoin and had a proper knowledge of how to use it. If the government allow bitcoin to spread/teach the proper use in their country and help establishment to improve their technology. But first, let the people knew how it works because even establishment are accepting bitcoin as their payment,if people are afraid to deal with it, they still use paper money as a mode of payment.
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April 14, 2018, 08:59:31 PM
 #890

For me, if the majority of the people knew about bitcoin and had a proper knowledge of how to use it. If the government allow bitcoin to spread/teach the proper use in their country and help establishment to improve their technology. But first, let the people knew how it works because even establishment are accepting bitcoin as their payment,if people are afraid to deal with it, they still use paper money as a mode of payment.
In future it is expected that governments will accept bitcoin as legal currency, even those countries who have already consider bitcoin as illegal they will also turn bitcoin as legal, because bitcoin will be the future currency and its importance will continue increasing, people will use bitcoin for everything they want. Because it  is more easy to use bitcoin  and the most important is that it a universal currency. and is decentralized.

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Friskaadew
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April 14, 2018, 09:17:23 PM
 #891

In my opinion, more will retailers will accept bitcoin if its price is stabilized or the rate of change in its price is not that high. Plus , if only blockchains can improved the time it will take to confirm a single transaction. Because for now, I see that blockchain technology is having a problem with this matter, it takes hours for them to confirm a single transaction when it is in the middle of their day-to-day operations.
13risingforce
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April 14, 2018, 09:26:00 PM
 #892

when the situation in the country has made it possible to give license the bitcoin. because the seller will of course sell a variety of products that are also official in the country. so payment must also be with an official payment. when a country has licensed bitcoin, retailers using bitcoin will become a reality.
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April 15, 2018, 12:58:34 PM
 #893

Retailers are not dumb if a lot of their clients began asking them about accepting bitcoin they will do it in a heartbeat but since the user base of bitcoin is small and it is dispersed there is not much incentive to accept bitcoin payments at this moment, but that will change in the next years.

I agreed with your view, even in my country, if ask how many people know about bitcoin and cryptocurrencies, everyone will say more than 50%, but then another question how many people using bitcoins or would like to spend them instead of "holding", and I think answer in more than obvious - less than 1%.
So, I don't see any sense right now for retailers to accept bitcoin.
RoolBi
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April 15, 2018, 02:03:06 PM
 #894

This will soon be accepted. Because I think a company wants to preserve their information, they will apply blockchain technology. And when they apply this cutting edge technology I believe they will accept bitcoin.
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April 15, 2018, 05:52:25 PM
 #895

Where im from people only understand and enjoys fiat more than anything. We have more of local retailers who wont in there mind give up fiat for cryptocurrency. Cryptocurrency has to be enforced or taught before retailers here can accept it.

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EnricoGomez
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April 16, 2018, 03:02:40 AM
 #896

I think there is a number of retailers that will do but not all would.
Bitcoin is highly volatile which makes it difficult to actually mark a fixed price on a product for a longer time period.
They can because of the rising popularity of cryptocurrencies which may serve as their investment.
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April 16, 2018, 03:09:30 AM
 #897

If bitcoin is really effective to make payments, it has been widely accepted by retailers and has been proven by Japan as a pioneer, I hope Japan is telling the world how easy, practical and many benefits of bitcoin. Thus will be followed by other countries.

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April 17, 2018, 05:37:48 AM
 #898

The ascent of Bitcoin (BTC) into the financial mainstream has moved society ever closer to an exclusively digital, universally accepted form of payment. Based on revolutionary blockchain technology , BTC provides users a fast, secure and economical means of making purchases or transferring funds. As the technology of BTC gains acceptance among consumers and retailers alike, many businesses are poised to adopt digital money as a preferred mode of exchange.
romeo23
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April 20, 2018, 08:43:05 AM
 #899

Never, at least not directly. Cryptocurrencies, namely bitcoin, are set up as a distributed ledger, meaning that every node in the network has to record a transaction for the system to remain secure. There’s also a high level of encryption, meaning it takes a lot of energy to process blocks of transactions. This results in extremely high transaction costs. It simply doesn’t make sense to pay such high fees for a retail transaction, as the transaction fees will be higher than the cost of most retail items.What CAN happen, though, is for microtransactions (ie retail purchases) to take place “off chain.” This means you will have third party payment processors, much like credit card companies, who will hold your bitcoin in a wallet with everyone else’s and keep their own separate ledger. Payments will then be reconciled in very large transactions on chain. It’s no problem paying 30 dollars per transaction if each transaction is very large. For example, it costs way, way less than 1% to transact a million dollars in bitcoin.So you won’t pay for retail items directly with bitcoin, just like you wouldn’t do a bank transfer to pay for something small. Like when you pay with your bank’s debit card, money doesn’t magically appear in the retailer’s account. It’s simply recorded as a digital IOU, with your bank’s reputation standing in place for actual cash. Your bank is simply saying, electronically, that you have the funds to pay and that they will reserve those funds.In reality, though, any retailer who accepts credit cards already accepts bitcoin, along with many other cryptocurrencies. There are already third party payment processors who issue their own visa cards, which can then be used anywhere credit cards are accepted. It works just like a debit card. You send them your bitcoin, and then you can spend it anywhere you can use a credit card. Give bitcoin’s high volatility though, this only makes sense in third world countries, or in places where banking fees are too high. Thing is, for bitcoin to remain trustless, only the large transactions need to be on chain. Basically, bitcoin is digital gold, but unlike the vault at Fort Knox, anyone can audit it at any time with an internet connection. The ledger is public, so anything fishy will immediately be noticed by the community. For example, if a third party payment processor began issuing more bitcoin than they had in their on chain wallet (like if a bank issues more money than they actually have), then it would be immediately obvious to anyone who knew anything about blockchain. Not to mention, they wouldn’t be able to fulfill their promises at the end of the month.Bitcoin’s role isn’t as a transactional currency. It’s meant to provide security and transparency to the transactional currency. When you see the price of bitcoin going up, it’s actually the price of fiat going down. If bitcoin sees widespread adoption, essentially what will happen is fiat currencies will become pegged to it in one way or another. It will act merely as a reserve currency.
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April 20, 2018, 09:25:05 AM
 #900

I think we are now waiting for a real use case to give retail investors the confidence that this is not all a hype. XVG's porhub connection is one of them surprisingly enough. We need more of that although I do think the use in this case is limited, who pays for pornography on pornhub?
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