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Author Topic: When will more retailers accept Bitcoin  (Read 17088 times)
lucy1215
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October 01, 2017, 06:35:41 AM
 #421

I think that it would take time or years before retailers would accept bitcoin the reason why is because not everyone knows about the existence of bitcoin and some are still afraid to use or invest on bitcoin. But for me it is good to use in purchasing on the retailers for a hassle free transaction.

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October 01, 2017, 10:18:06 AM
 #422

I think that it would take time or years before retailers would accept bitcoin the reason why is because not everyone knows about the existence of bitcoin and some are still afraid to use or invest on bitcoin. But for me it is good to use in purchasing on the retailers for a hassle free transaction.

There are some restaurants and well known establishment that is already using Bitcoin as a payment in exchange with their goods and services, it just that there are no stable Bitcoin ATM machine that you can buy at in the city that this establishments are located so you must need to buy online or earn it first before you can use it.
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October 01, 2017, 10:22:15 AM
 #423

suppose there is a big online store like amazon who accept payment with Bitcoin course btc prices will go up very high and we are all happy, small retail will not be efficient if adapt payments with bitcoin.
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October 01, 2017, 10:29:54 AM
 #424

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.  Wink
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October 01, 2017, 10:34:08 AM
 #425

Not many people know about Bitcoin and Bitcoin is highly volatile. These both factors limit vendors to accept Bitcoin. Also, even if people know about Bitcoin, they aren't ready to spend it because Bitcoin is more like an investment for them than a currency. I think in future more retailers will definitely start accepting Bitcoin with bitcoin going mainstream and a little decrease in volatility. Right now some dominant countries in crypto like Japan are involved in Bitcoin extensively.

Even though Bitcoin is an investment for many people they would definitely like the idea to use it for buying things from time to time. It's a good marketing vehicle to put a "We Accept Bitcoin Here" sticker on your shop's door. Even if you will be losing some money because of the Bitcoin's volatility it will be compensated by what you gain more because of the sticker. People who have Bitcoin maybe can buy $10 worth goods with it just for fun, but they will be visiting your shop more often and will be buying with fiat from you rather than from others.

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October 01, 2017, 10:40:26 AM
 #426

maybe next year or in 2019-2020 we will have a lot of sellers who accept payment by bitcoin, bitcoin is in the stage of slowly being famous around the world, lets just wait and everyone will notice it since the prediction next year with its value might rose up to 10k$ or even more.

I hope so. That is one og the major problem of bitcoin.
Lacking in merchants and also those shops that accepts bitcoin as a currency.
This should be changed fast. There have been many coins that are being created and they might see it as a better one in terms of payment rather than bitcoin.
It could be popular but after that users could be directed to another crypto like ETH, and LTC.
The more retailers will have bitcoins only when it will become a global currency. The value of bitcoins needs to improve soon and this will make it highly accepted in the global market. Also it wills some high standards of trading and eventually more and more retailers will start thinking about it and will start accepting.
The value of bitcoin doesn't need to rush to improve to just make bitcoin accepted by the other retailers and other businessman. Bitcoin needs to have a stable network and less hassle problems so the retailers and the businessman will accept bitcoin because when there is no issue in bitcoin especially in using it then it will become easy for bitcoin to get accepted worldwide.

Hmm, indeed as you say that bitcoin is actually not needed something small things to grow. Now that it's been bitcoin has enormous range which will surely provide many advantages for long-term bitcoin. It's just that for now this network of bitcoin less stable, which has something in it that has not been definitely will be very good in the future. So the main steps that must be done to make the network of bitcoin stable.
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October 01, 2017, 11:06:07 AM
 #427

I think that will only happen to progressive country who has high technology and who established bitcoins in their community. It would take long years before it could adopt by the third world countries. But i hope it would happen in the future for us to be able to transact easily with merchants using bitcoins.

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October 01, 2017, 12:33:46 PM
 #428

I think that will only happen to progressive country who has high technology and who established bitcoins in their community. It would take long years before it could adopt by the third world countries. But i hope it would happen in the future for us to be able to transact easily with merchants using bitcoins.
Yes, the higher the level of development and education, the greater the chances of a nation adopting Bitcoin on a large scale. But in some situations the adoption of Bitcoin occurs first in third world countries, such as Venezuela, where people feel more strongly the destructive effects of fiat currencies.

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October 01, 2017, 12:59:09 PM
 #429

More retailers will start accepting Bitcoin once more people have Bitcoin in their wallets and once more people are willing to spend the bitcoins in their wallets.
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October 01, 2017, 03:17:54 PM
 #430

Japan is technically more advanced and thus its easier for people to accept a new norm and its preety amazing how things are adapted there that produces a nice balance for everyone.
As for other countries .. i personally think it depends upon your country stage of development and the acceptance of goverment.
If the government accepts it and makes it legal the companies will be forced to accept bitcoins and any other fiat.
Varies from country too country

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October 02, 2017, 05:50:23 AM
 #431

There are still many many people who don't know about bitcoins so once bitcoins is used by large percentage of world then more and more retailers will accept bitcoins as a form of payment. Also that bitcoins are yet to be legalised in many countries.I think that more developed and advance countries has already some retails who accept bitcoins like Japan.
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October 02, 2017, 06:56:15 AM
 #432

I am convinced that bitcoin in 2018 will grow drastically as many countries begin to recognize it. people will automatically start participating rapidly in running a project that provides a very large allocation fund.

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October 02, 2017, 08:55:36 AM
 #433

There are still many many people who don't know about bitcoins so once bitcoins is used by large percentage of world then more and more retailers will accept bitcoins as a form of payment. Also that bitcoins are yet to be legalised in many countries.I think that more developed and advance countries has already some retails who accept bitcoins like Japan.
Because sometimes it a really difficult to understand how all this system works. Same was when banks started to use credit cards and different electronic money.
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October 02, 2017, 09:26:58 AM
 #434

I am convinced that bitcoin in 2018 will grow drastically as many countries begin to recognize it. people will automatically start participating rapidly in running a project that provides a very large allocation fund.

I agree with you on that Bitcoin will grow in the future, but probably not so fast. As we can see the process of Bitcoin's adoption goes slowly, but, thanks goodness, steadily. No doubt that retailers will start accepting BTC more and more in the future, but for now most of them are reluctant to do it.

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October 02, 2017, 09:50:50 AM
 #435

I am convinced that bitcoin in 2018 will grow drastically as many countries begin to recognize it. people will automatically start participating rapidly in running a project that provides a very large allocation fund.

I agree with you on that Bitcoin will grow in the future, but probably not so fast. As we can see the process of Bitcoin's adoption goes slowly, but, thanks goodness, steadily. No doubt that retailers will start accepting BTC more and more in the future, but for now most of them are reluctant to do it.
That is for sure, retailers will accept bitcoin because they are now seeing that the people in some developing countries are getting into bitcoin and if they will not go with the flow of the accepted currencies then it is a loss for them since they will not attract new customers so as soon as possible they are slowly changing their concept to adopt the new technologies.
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October 02, 2017, 10:05:08 AM
 #436

I am convinced that bitcoin in 2018 will grow drastically as many countries begin to recognize it. people will automatically start participating rapidly in running a project that provides a very large allocation fund.

I agree with you on that Bitcoin will grow in the future, but probably not so fast. As we can see the process of Bitcoin's adoption goes slowly, but, thanks goodness, steadily. No doubt that retailers will start accepting BTC more and more in the future, but for now most of them are reluctant to do it.
That is for sure, retailers will accept bitcoin because they are now seeing that the people in some developing countries are getting into bitcoin and if they will not go with the flow of the accepted currencies then it is a loss for them since they will not attract new customers so as soon as possible they are slowly changing their concept to adopt the new technologies.
More retailers will accept bitcoin when its price will eventually settle down. Moreover, Bitcoin is a limited amount of coins and the demand for them increases by each passing day. It's more popular in the future and all will select it as payment.
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October 02, 2017, 10:14:49 AM
 #437

I am convinced that bitcoin in 2018 will grow drastically as many countries begin to recognize it. people will automatically start participating rapidly in running a project that provides a very large allocation fund.

That is so true. With the development that occurred this year, there is every possibility that next year is going to be a great surprise for every one. So many countries this year are already looking into it and so many decisions will be made next year regarding this, thereby changing the whole thing into another level and then so many projects like we are already seeing few of them now, will spring up around bitcoin.
EiKaGlaShPriSAThWEl
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October 02, 2017, 10:50:50 AM
 #438

"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.

I think more retailers in my country will accept bitcoin if bitcoin will be use by influential countries. What I mean of the word "use" is that, bitcoin is use to buy all kinds in a country, payment for a bus, etc. I belong to a country that only adopt what is trend in some other countries.

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ammo121810
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October 02, 2017, 11:01:21 AM
 #439

"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 could happen first to developed countries but it would take years before they implement the acceptance of bitcoin to most retailers. They have to train the retailers and educate them on how to use bitcoin in the transactions. If the retailers would adopt the knowledge it would  be easy to transact with them using bitcoin.

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October 02, 2017, 12:42:36 PM
 #440

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



I believe this one will take time to happen. The US aid to already banning lots of altcoins project which is the basis of using crypto currencies directly from the blockchain.


For bitcoin spending there are very rare projects out there and it should takenlot of time to implement in the country like us.  For Japan they have already accepted the reality and there the government supports people's rights completely and legitimately.


This is majors factor that pushes any nations working and the infrastructure. I mean if everyone is in the same boat then what to worry about. It's simple.

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