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Author Topic: As a merchant, what alt-coins would I want to accept and why?  (Read 296 times)
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May 24, 2013, 04:03:11 AM

If I were a merchant looking to sell physical goods coupled with a monthly service plan or just physical goods and was only looking to accept cryptos, which would I want to accept besides bitcoin and why?

For the sake of this discussion lets assume that the goods and services would be something that many people would want, not just people familiar with crypto. So it would potentially bring a lot of new users interested in the goods and services that can not be bought with fiat money. So there's many things that need to be considered. Ease of use of clients, accessibility, on going development, community around the coin, etc etc. Instant transactions aren't a necessity for this, so the fact that a coin is quick to confirm isn't as important here as security and value.

A merchant would not want to constantly monitor exchanges for values or exchanging a whole mess of coins or operating 50 clients, they have other things to focus on. They wouldn't want to have to worry about blockchain forks, stalled networks and constant problems or accepting a coin that's going to die off and be stuck with it. They would want to accept coins that they could potentially use to buy the raw materials for their goods or that they can use easily to grow their business. There's many other things to consider so I won't continue to list them, just try to look at the problem with the merchant and average consumer in mind.

Maybe this will turn into a decent discussion on the alts that stand out as actual useful currencies and a good resource for people in the future looking to accept alt-coins that won't necessarily have the time to do hours of research on different coins to determine which ones are worth taking.

I would have rather posted this in the Alternate cryptocurrencies section but I still have newbie status, so if it seems like a decent topic to discuss maybe someone can make a cross post over there.

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