|
CowboyKiller
|
 |
July 17, 2017, 05:24:56 AM |
|
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.
This future can happening when Bitcoin successfully fix issue about time confirm transacton, fees, block size and stable system! I don't know in next time Bitcoin can do that or not, but I see XRP, DGB are crypto have enough condition become to digital cash better than Bitcoin in present |
|
|
|
|
|
|
|
|
|
|
|
|
|
It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
Forbiddenone
|
|
July 17, 2017, 06:57:46 AM |
|
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.
This future can happening when Bitcoin successfully fix issue about time confirm transacton, fees, block size and stable system! I don't know in next time Bitcoin can do that or not, but I see XRP, DGB are crypto have enough condition become to digital cash better than Bitcoin in present bitcoin will not be accepted by every retailer ,they are accepted by major companies or retailer but not small retailers.the problem lies in instability of price ,so small retailer will not accept this to gamble with it ,but they have already started accepting digital currency to improve their banking. |
|
|
|
|
|
Bagaji
|
|
July 17, 2017, 07:08:05 AM |
|
Am optimistic that very soon more retailers will start accepting bitcoin and even other crypto currencies. Just that they only need to understand the potential investment opportunity in bitcoin or crypto currency in general, so I believe information is key for more of the retailers to start accepting bitcoin.
|
|
|
|
|
|
kelceyott
|
|
July 17, 2017, 08:26:31 AM |
|
"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. In Vietnam, I have not seen one retailer that accepts bitcoin payments. Maybe in a few years it will happen in supermarkets, restaurants, hotels ... for example when bitcoin has become popular and uses swipe cards. Currently, bitcoin in Vietnam is only traded online. |
|
|
|
|
Mometaskers
|
|
July 17, 2017, 12:40:01 PM |
|
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. The facilities are a good bonus, though I doubt retailers would start adding them unless a certain percentage of the population becomes acquainted with bitcoins. Provided bitcoins become compatible with microtransactions again, I'd probably take, say 2-5 years more before a sizeable number of stores can start accepting them. This is why Japan's decision is important, people always look at their innovations and then they decide if they also want to try it in their country. |
|
|
|
|
|
Kotone
|
|
July 17, 2017, 01:18:44 PM |
|
If they accept bitcoin then it will make bitcoin more expensive but there are someone who uses bitcoin there even they don't have retailer they using it and then sell to the people who really needs bitcoins and still make some money to it.
|
|
|
|
piccolorio
Newbie
 Offline
Activity: 2
Merit: 0
|
|
July 17, 2017, 01:25:30 PM |
|
Let's assume I am a retailer/merchant. I sell soups.
So I am selling soups all day for bitcoins. At the end of the day I have to pay salaries, suppliers, rent etc in dollars. So I take my BTC revenue and convert it to dollars.
However, since bitcoin can go up and go down I cannot be sure how much money I will have made in the day.
How are the merchants today accepting Bitcoin? Do they put the price with a huge premium so that they are not exposed to the risk? Like add 10% on top of price in bitcoins.. also you would need to re-label the shelf prices like twice a day.. brr.. too complicated.
Does anyone have any insight?
|
|
|
|
|
|
Himanshu111
|
|
July 17, 2017, 01:27:16 PM |
|
Bitcoin is gaining popularity at a very fast rate and i think by the end of 2018 most of the people out their will start to believe in bitcoin
|
|
|
|
|
webcrypt
Newbie
Offline
Activity: 42
Merit: 0
|
|
July 17, 2017, 03:15:18 PM |
|
Here a are couple of main reasons retailers do not take Bitcoins.
1- They are still difficult to deal with. You have to figure out how to accept them, where to store them and where and how to turn them back into fiat currency.
Retailers do not want to sit down and study this all and figure it out they just want systems that will take a payment. 6-seconds done..
2- Much of the gateway technology is new. New technology means bugs, problems, lag time, learning time, failed experiments, bankrupt companies, etc. Retailers just want proven stuff to plug in and go.
3- Bitcoin is unstable. It can lose 10% in one day. Retailers have tight margins 10% can make or break the profit in a sale for many.
The big reason WHY ? Why would a retailer go tru the extra trouble .. ? You have a few devoted Bitcoin fans and you have some of the IT crowd exploring it but as far as mainstream it needs to be easy and worthwhile.
People do not go out of their way just to make life hard for no reason. Especially when it comes to $$$. In the world of retail the payment is the final end of the line. It needs to be as easy and flawless as possible.
Bitcion need better apps, less fees and become more stable to start with.
|
|
|
|
|
|
zulkarnaen
|
|
July 17, 2017, 03:25:44 PM |
|
Along with the development of bitcoin of course its popularity will continue to increase, although currently the price of bitcoin is declining but of course this is only momentary and after passing this phase most likely bitcoin price will increase again drastically
|
|
|
|
|
|
Harlot
|
|
July 17, 2017, 03:42:12 PM |
|
I guess the first step will always be the proper acceptance of any country's government on making Bitcoin as a mode of payment in their country. Just like what Japan and Korea will do, it will surely pave the way for retailers and businesses to accept Bitcoin as a mode of payment. Another situation will be if other retailers see the big opportunity or any good results from other retailers of accepting Bitcoin to their businesses it will surely convince them on accepting Bitcoin as a mode of payment.
|
|
|
|
|
|
coynedterm
|
|
July 17, 2017, 03:49:29 PM |
|
"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 really a big thinkable thread because I myself when I seen the Bitcoin in very starting of 2014 then I found that there is no restrictions to use Bitcoin and there is nothing that needed tax , but after the legalisation of the Bitcoin we found that many of the other countries ( included mine country where I am living ) also started to make the new rules and thinking to apply the fee as the fee tax ( GST ) 18% which is not fair and also we need to pay the tax to the government to buy btc at 18% , so I think the many government of the countries are stealing the money if the bitcoiners by 36% , and I don't think it can be profitable for us . But opposite of this use of the fiat is recommended like the fiat without taxation to buy normal stuff at the shop . Well here we need a better law to use Bitcoin so that Bitcoin can easily how in this world and everyone can use for small small purpose to make buy sell things which should be tax free . |
|
|
|
|
skorupi17
|
|
July 17, 2017, 07:22:31 PM |
|
Let's assume I am a retailer/merchant. I sell soups.
So I am selling soups all day for bitcoins. At the end of the day I have to pay salaries, suppliers, rent etc in dollars. So I take my BTC revenue and convert it to dollars.
However, since bitcoin can go up and go down I cannot be sure how much money I will have made in the day.
How are the merchants today accepting Bitcoin? Do they put the price with a huge premium so that they are not exposed to the risk? Like add 10% on top of price in bitcoins.. also you would need to re-label the shelf prices like twice a day.. brr.. too complicated.
Does anyone have any insight?
If you are afraid of the volatility of Bitcoin and thinking that your profit will be compromised then the bast way to deal with this is to convert the received Bitcoin into fiat immediately as you received it as payment. There are some wallet that provide that type of service. This way, the merchant will not be in vain when the price of Bitcoin goes up or down. |
|
|
|
|
RodeoX
Legendary
Offline
Activity: 3066
Merit: 1145
The revolution will be monetized!
|
|
July 17, 2017, 07:26:36 PM |
|
There is only 1 thing that will make this happen. YOU must tell retailers that you buy with bitcoin and that if they want your money they have to take bitcoin. Bitcoin is our money.
P.S. Price volatility is no issue at all. Just use a payment processor like bitpay and you never touch bitcoin. Each day the processor makes a deposit in the retailers bank account.
|
|
|
|
BitcoinGirl.Club
Legendary
Offline
Activity: 2758
Merit: 2711
Farewell LEO: o_e_l_e_o
|
|
July 17, 2017, 07:52:43 PM |
|
*We should start to see more retailers getting on board after the bitcoin fork as they will no longer experience long waiting hours to have funds confirmed in their wallets.
*The legal status of bitcoin will be another determinate to convince retailers to accept bitcoin payments so once the right environment is created retailers should have no problem to accept Bitcoin
|
|
|
|
|
arpon11
|
|
July 17, 2017, 08:08:44 PM |
|
"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. Very soon bitcoin will be accepted all over the world and we most published information about bitcoin and others cryptocurrency until it becomes acceptable by all big store online and offline. Amazon, aliexpress and eBay alone can make bitcoin mainstream in just no time. |
|
|
|
|
|
aeternus
|
|
July 18, 2017, 04:51:33 AM |
|
Simple, when more people begin to use it as a payment option, business owners are not morons if they see a client asking for acceptance of bitcoin payments and then the next week another 10 or 20 people ask the same then the business owners are going to adopt bitcoin in a heartbeat.
|
|
|
|
|
|
qwertyup23
|
|
July 18, 2017, 05:47:40 AM |
|
Let's assume I am a retailer/merchant. I sell soups.
So I am selling soups all day for bitcoins. At the end of the day I have to pay salaries, suppliers, rent etc in dollars. So I take my BTC revenue and convert it to dollars.
However, since bitcoin can go up and go down I cannot be sure how much money I will have made in the day.
How are the merchants today accepting Bitcoin? Do they put the price with a huge premium so that they are not exposed to the risk? Like add 10% on top of price in bitcoins.. also you would need to re-label the shelf prices like twice a day.. brr.. too complicated.
Does anyone have any insight?
This exactly explains why some of the retailers think twice before accepting bitcoin. The hassle of them converting their earned bitcoin to fiat will consume too much time and the fees that they need to pay for the conversion. Since the price of bitcoin is volatile, they might incur net loss in the long run instead of profiting. But if the retailer is also an investor of bitcoin, then he/she might accept it as a payment. There are too many reasons on why some retailers do not accept it as a payment YET but there is always the possibility in the future. |
| R |
▀▀▀▀▀▀▀██████▄▄
████████████████
▀▀▀▀█████▀▀▀█████
████████▌███▐████
▄▄▄▄█████▄▄▄█████
████████████████
▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO
FUTURES | | | | | | | │ | 1,000x
LEVERAGE | │ | COMPETITIVE
FEES | │ | INSTANT
EXECUTION | │ | .
TRADE NOW |
|
|
|
|
Vixmore
|
|
July 18, 2017, 06:11:46 AM |
|
I think that this time is very soon, as we can already see many large retailers implementing the use of Bitcoin as a transaction method for their company. As we know, Amazon and Microsoft both offer this transactions method and is widely used. We should be able to see more and more companies accept Bitcoin as many of them will soon realise that bitcoin's value will increase drastically in the next few years, ergo making it worthwhile to invest in such said systems and hold onto Bitcoin in the long run.
This statement is also greatly dependant on the current laws that surround Bitcoin in the particular country the business is situated in.
|
|
|
|
|
|
Heyyyrenz
|
|
July 18, 2017, 09:38:11 AM |
|
I think it will take a long process there's a lot of consideration they will need before accepting bitcoin as a payment. For example
1. They need to wait for the payment to confirm before the transaction we all know that it will take a long time before the low fee transaction to be confirmed.
2. We all know that the bitcoins price drops and pumps so will the price of the retailers i think it would be hard for them to adjust.
I think they will provide a wallet or they will use same wallet so that they will exclude the transaction fee in every transaction.
|
|
|
|
|
|
