How to promote Bitcoin to local vendors in farmers markets/festivals

[KawalGrover]

I live in Atlanta, and one of the best things I enjoy about living here are all the festivals and the local artists and vendors offering their wares.

The farmers markets are getting bigger as well. I just returned from one and told a few vendors about it.

However, for next time I'll prepare some nice page-size posters. This thread is to request suggestions for what would be the best way to get peoples attention quickly and without making this look like I'm either a Jehovah's witness or an Insurance Salesman.

Here are some quick suggestions that I've gleaned from other sources. (Remember, I am targeting small home based businesses/artists/farmers. None of these people take credit cards).

-> Inflation Free
-> Debt Free
-> Show a curve of price compared to USD since 2010
-> Somehow show them how to get money just using your phone.
-> Perhaps a reference to BitPay and others that offer services to easily set up ways to get money in local currencies as well.

Any suggestions would be much appreciated!

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[lucasjkr]

They don't take credit cards. So they likely don't have computers set up at their locations? Or they simply enjoy the security of receiving cash in hand. Bitcoin can't replicate that - they need computers at their locations, and they need their customers to stick around for a few minutes to get some confirmations that their spends are accepted by the network.

Inflation free is nice, but I'd bet very little of their earnings get saved. The sell their wares and spend the proceeds buying new inventory and paying their own personal expenses. With that rapid turnover of money, inflation doesn't have time to sink its teeth in. Besides which, the monetary base of Bitcoin is still expanding rapidly. Once all the bitcoins have been mined, you can say its inflation free, but not before. That's a part that often gets brought up that I never understand. Right now there are X bitcoins in existance. In 10 minutes, that number will be X +25. In 10 more minutes, it'll be X +25 more.

Debt-free means nothing. Doesn't matter if you transact in Bitcoins or Dollars, as a US Citizen you're on the hook for the countries debts. And there's nothing to stop someone from amassing Bitcoin denominated debts except that vendors haven't thought to start offering credit yet. Mind you, if Bitcoin acceptance keeps growing then credit will definetly be on the horizon.

Showing a price curve from 2010 to now is dishonest, I would say. There's that old adage that past performance is not idicative of future results, so to sell people on past performance might get people involved that are unaware of the risks but not the people who are more informed. Why start your graph in 2010? Would the results of your advertising be any different if you showed them a graph that starts in mid-April and goes to now? Yeah, thought so. (Bitcoin should be able to stand on its own merits, selling as an ultra-risky investment is not one of them).

I'm sorry, I love many aspects of Bitcoin, but it's just not there yet for non-techies, I don't think. Nor is it there yet for people who transact with the public. Litecoin, with its 2.5 minute confirmations, is much closer in that regard. Doesn't mean that Bitcoin won't be a great store of value, or a great way to transfer wealth around the globe, or a great currency for mail order business to accept, and so on. And but the confirmation time is something that too many people overlook when thinking about offering Bitcoin solutions to people who transact face to face.

The best way to garner their acceptance isn't by trying to sell them on it. It's grassroots. If you show up every week and ask if they accept Bitcoin, and more and more of their customers do the same, they'll eventually start asking "hey, why don't we look into this bitcoin thing?".  Except, if they're not even taking credit cards in this day of Square card readers, they they simply aren't likely to be interested in another electronic payment system.

Sorry to be such a downer.

[myrkul]

They don't take credit cards. So they likely don't have computers set up at their locations? Or they simply enjoy the security of receiving cash in hand. Bitcoin can't replicate that - they need computers at their locations, and they need their customers to stick around for a few minutes to get some confirmations that their spends are accepted by the network.

https://play.google.com/store/apps/details?id=de.schildbach.wallet&hl=en

For small purchases, accepting at 0 confirmations is low-risk.

[lucasjkr]

For small purchases, accepting at 0 confirmations is low-risk.

We can say that, but the risk is there. Certainly it's far greater than cash. And I'd wager to say that even if so far the accepting transactions with 0 confirmations has been low-risk, it won't be for much longer. Bad characters will enter and take advantage. It's happened with every other system, no reason to believe it won't happen here, unfortunately.

Think about it - accepting a confirmation with 0 confirmations amounts to "please give my your product, I'll come back and pay for it in a few minutes". Most street vendors aren't open to that. Most gas stations aren't open to that either. Nor should we expect that they should be open to that. Without any confirmations there's no way to verify if there is any value to the transaction.

[myrkul]

For small purchases, accepting at 0 confirmations is low-risk.

We can say that, but the risk is there. Certainly it's far greater than cash. And I'd wager to say that even if so far the accepting transactions with 0 confirmations has been low-risk, it won't be for much longer. Bad characters will enter and take advantage. It's happened with every other system, no reason to believe it won't happen here, unfortunately.

Think about it - accepting a confirmation with 0 confirmations amounts to "please give my your product, I'll come back and pay for it in a few minutes". Most street vendors aren't open to that. Most gas stations aren't open to that either. Nor should we expect that they should be open to that. Without any confirmations there's no way to verify if there is any value to the transaction.

It's more like accepting a personal check that you can redeem in 10 minutes or so, but yes, there is a little bit of risk. Honestly, I've always preferred bullion/coins for face-to-face transactions. Bitcoin just doesn't lend itself well to in-person commerce, at least, not as well as other currencies do.

[Phinnaeus Gage]

They don't take credit cards. So they likely don't have computers set up at their locations? Or they simply enjoy the security of receiving cash in hand. Bitcoin can't replicate that - they need computers at their locations, and they need their customers to stick around for a few minutes to get some confirmations that their spends are accepted by the network.

https://play.google.com/store/apps/details?id=de.schildbach.wallet&hl=en

For small purchases, accepting at 0 confirmations is low-risk.

Having set up at the old Lakewood Antiques Market up to the last show, I say this is the best way to go--0 confirmations on low-end wares. For any high-end purchases, maybe wait for one confirmation. It's not uncommon for shoppers to have you hold an item at flea markets once paid for while they tend to other shopping thus, if this were the case, more confirmations would arrive.

Yes, there's many a unsavory characters that feed off flea markets, but double spending bitcoins will probably not be on their radar given the amount of energy needed to pull it off. Basically, they're in a low-tech-state-o'-mind.

~TMIBTCITW

[Wilikon]

Maybe you could send an email to bitpay?