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justspare
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August 26, 2017, 08:20:24 AM |
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I think that for many sellers it will be unprofitable. Commission fees for fees are too high for small items and because of this, sellers can go to a loss or they will have to significantly increase the price, which will also scare off some buyers.
No one can go in loss with bitcoins. The retailers can even make more money with bitcoins then just by selling items in fiat. The increasing value of bitcoins will give them money many times more than the price of an item. So I believe the retailers should start accepting bitcoins as soon as possible. |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Rheachan1425
Member
 Offline
Activity: 116
Merit: 100
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August 26, 2017, 08:28:44 AM |
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I think for that topic was it take so may years to accept bitcoin.
First it was not yet known in some countries.
Second was the fee charge when sending bitcoin.
Lastly it takes time to confirm transaction.
But it was just i think/suggestion.
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Potato Chips
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August 26, 2017, 08:49:49 AM |
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It is possible for developed countries to know their average citizen is already familiar with bitcoin, so they easily receive payments with bitcoin.sedangkan countries, for example in my country people who know bitcoin maybe only about say 20%, and for bitcoin transactions may be only in the city While in the small town town bitcoin does not apply at all as a means of exchange of money.
Yes, in big cities, it is easy to push the use of bitcoins for common purpose because people are mostly quite modern and educated in cities whereas in towns, first we need to work hard to spread knowledge about bitcoins. The markets and businesses that have started bitcoins as payments are all from developed countries. i don't think think having a big country or developed country has any significant connection regarding peoples awareness, acceptance and understanding about bitcoin. i mean having a big city or a developed one doesn't the people who lived their are knowledgeable about technologies and open minded as well. if that is true then those big countries would have accepted bitcoin like japan did. |
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syarifudin
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August 26, 2017, 08:50:44 AM |
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In my opinion, the high transaction costs currently seem to be a burden for bitcoin users to make purchases online and make payments using bitcoin services, not to mention the transaction process that requires boring confirmation.
And I think if there is change in bitcoin system improvements regarding the high cost of tax cost and the long delivery process of delivery confirmation of bitcoin, it will certainly increase the interest of buyers to make transactions using bitcoin services.
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lousie9
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August 26, 2017, 09:03:00 AM |
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In my opinion, the high transaction costs currently seem to be a burden for bitcoin users to make purchases online and make payments using bitcoin services, not to mention the transaction process that requires boring confirmation.
And I think if there is change in bitcoin system improvements regarding the high cost of tax cost and the long delivery process of delivery confirmation of bitcoin, it will certainly increase the interest of buyers to make transactions using bitcoin services.
The government also does not speculate with payments that require several blocks of confirmation, maybe all transactions that have been sent can not be sliced but it would be a problem if retail supermarkets implement it on a large scale and turn out to be problematic, they also do not want business losses if one day the transaction confirmation can done quickly then they will no doubt with the application and payment of taxes. |
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Pubg_man205
Member
Offline
Activity: 114
Merit: 100
🌟 eSports ICO: 01/11/2017 🌟
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August 26, 2017, 09:06:09 AM |
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I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
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filharvey
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August 26, 2017, 09:52:17 AM |
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Most retailers don't come forward to accept bitcoin because they fear of its credibility as a currency.Also,they don't accept it due to its volatile nature.We saw just before few months that japan legalized bitcoin and soon after that,more retailers started to accept bitcoin and now around 250,000 retail stores accept bitcoin and it may increase more.So,if bitcoin gets legalized in other countries also,more retailers would accept bitcoin payments.
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streazight
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August 27, 2017, 01:41:06 PM |
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I think that this will happen soon, because taking bitcoins by sellers will lead to higher prices for goods because of high fees. For small purchases, this decision will be very unprofitable.
Yes this condition is not very profitable, so try to buy maximum amount of bitcoin or if you want to sell then try to sell maximum amount of bitcoin, because in this way you fees will no effect you profit and you will get what pretty much secure future for you bitcoin, and I hope sooner when retailers accept bitcoin then this profit margin will increase further more. |
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doomloop
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August 28, 2017, 01:32:24 AM |
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I think that this will happen soon, because taking bitcoins by sellers will lead to higher prices for goods because of high fees. For small purchases, this decision will be very unprofitable.
Yes this condition is not very profitable, so try to buy maximum amount of bitcoin or if you want to sell then try to sell maximum amount of bitcoin, because in this way you fees will no effect you profit and you will get what pretty much secure future for you bitcoin, and I hope sooner when retailers accept bitcoin then this profit margin will increase further more. yes the price of the bitcoin is increasing very fast and we can make good income through it. Selling your bitcoin can make you earn money but for it you need to keep an eye on the price of eh bitcoin sell it only when you see the price of the bitcoin is very high than the price you bought your bitcoin so it is a good source of income for the investors and the traders. Bitcoin is now accepted by a lot of countries and they are trying to make it legalized currency so bitcoin is very important for everyone equally. |
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perfect999
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August 29, 2017, 05:03:50 AM |
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Once governments and other big business institutions start accepting bitcoins then other retailers can also start accepting bitcoins as a mode of payment and it would be a favourable decision to the whole world at large.
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matchi2011
Sr. Member
Offline
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
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August 29, 2017, 08:12:42 AM |
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Once governments and other big business institutions start accepting bitcoins then other retailers can also start accepting bitcoins as a mode of payment and it would be a favourable decision to the whole world at large.
I think it's starting alresdy. I was able to browse several vendors who has indication that btc is accepted. With bitcoin's quick rise this year, more people will be looking to invest and bitcoin is ready to go to the moon as they say |
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lilit
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August 29, 2017, 08:18:33 AM |
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I think that in poor countries and in villages, bitcoin may not be accepted at all as a payment, as there is likely no one heard or used about it there. Even in developed countries, not everyone now agrees to use it.
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richminded
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August 29, 2017, 08:49:43 AM |
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I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin. |
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Casabrandy
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August 29, 2017, 10:52:07 AM |
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I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin. That thing will surely happen soon, many businesses and companies uses btc as a way to fund, maybe next where the merchants when some big companies tried it,surely everyone will follow. |
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South Park
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August 29, 2017, 06:09:49 PM |
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It is possible for developed countries to know their average citizen is already familiar with bitcoin, so they easily receive payments with bitcoin.sedangkan countries, for example in my country people who know bitcoin maybe only about say 20%, and for bitcoin transactions may be only in the city While in the small town town bitcoin does not apply at all as a means of exchange of money.
Yes, in big cities, it is easy to push the use of bitcoins for common purpose because people are mostly quite modern and educated in cities whereas in towns, first we need to work hard to spread knowledge about bitcoins. The markets and businesses that have started bitcoins as payments are all from developed countries. i don't think think having a big country or developed country has any significant connection regarding peoples awareness, acceptance and understanding about bitcoin. i mean having a big city or a developed one doesn't the people who lived their are knowledgeable about technologies and open minded as well. if that is true then those big countries would have accepted bitcoin like japan did. Since bitcoin depends on the internet then countries with more access to the internet could have a bigger user base, and I think this is the case, now you do not need a degree to understand bitcoin but if you have easier access to computers and the internet then it is more likely that you are going to adopt bitcoin. |
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avikz
Legendary
Offline
Activity: 3080
Merit: 1500
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August 29, 2017, 07:28:33 PM |
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"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. That's good to see that more and more stores are coming forward to accept crypto currencies. It is a real good news for people like me. However, there are many challenges to accept crypto currency for physical store transactions. Let me list out a few for you. First is the confirmation time, The average confirmation time for bitcoin is around 20 minutes only if you pay high fees. So you will have wait for 20 minutes at the billing counter to actually get the goods you purchased. Also you will end up paying high fees which may not be feasible for small purchases. Second is the dynamic pricing of bitcoin. Bitcoin price can go to any level within 5-10 minutes which makes the stores vulnerable to exchange rate risk. The product you bought for 10 USD using bitcoin, can be priced at 5 USD after 10 minutes based on the prevailing market rate. It can increase as well as decrease. So that's a risk to the store owners. These are two basic factors why stores worldwide are not accepting bitcoin as a currency. |
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youdacapt
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August 29, 2017, 07:52:27 PM |
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I think that sellers are afraid to take bitcoin because of its not too stable price and many will not so risk not to stay at a loss. It will be like a lottery and will be sold only by very rich sellers or those who are not afraid of losing money.
Thats true, I am thinking the same way since the price of bitcoin are really volatile and retailers and afraid of loosing money and since not all people use bitcoin it will be hard for them to convert their btc. but i hope that a lot of shops around the world will finally adopt the system of bitcoin. That thing will surely happen soon, many businesses and companies uses btc as a way to fund, maybe next where the merchants when some big companies tried it,surely everyone will follow. I have read that there will be a big retail in Russia that will soon implement bitcoin later this year, if this happens then is the first official retail that will inspire other companies, we don't always think of fluctuations/volatiles because bitcoin is far more profitable than fiat. This system will adapt to civilization and require drivers for btc implementation on real business. |
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Loveydovey04
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August 29, 2017, 09:04:42 PM |
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"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. Here in Israel they have retailers and restaurants accepting bitcoin and other cryptocurrency as payments. |
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Gozie51
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August 29, 2017, 09:25:21 PM |
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The reason for the indifferent way btc has been treated even with the retailer shops is because of the so many of its disadvantages but the main of all reasons is because it has not been legalised.
Once government comes into it & puts an approval on it, the awareness grows likewise acceptance .
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Faucett.us
Member
Offline
Activity: 61
Merit: 10
GanarBitcoin.us
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August 29, 2017, 09:32:35 PM |
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What I think and in my experience is that people will use Bitcoin when stability comes to the market.
What most people who is no-tech related, talking about Bitcoin is sooo overwhelming. Now imagine you tell them that the currency has variations every second and that in one month they can lose money, and in another month they can win up to 100% (like it happened two months ago)
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