[2018-05-06] Bitcoin Adoption Continues: Parking Lots, Supplies Store, Courses,

[maarx]

Bitcoin Adoption Continues: Parking Lots, Supplies Store, Courses, Boutique Hotel

https://news.bitcoin.com/bitcoin-adoption-parking-lots-supplies-store-boutique-hotel/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Bitcoin adoption continues to grow rapidly worldwide. This adoption roundup features four merchants that recently started accepting the digital currency – a boutique hotel in Spain, parking lots, an electrical supply store, and online courses in Japan.

Parking Lots

Park Realty Co. Ltd., which provides a parking lot sharing serving called QRpark, announced last week that it has started accepting bitcoin payments.

Bitcoin Adoption Continues: Parking Lots, Supplies Store, Courses, Boutique Hotel“It is the service to convert the industry’s first monthly parking lot into a temporary parking lot,” the company described. A parking lot owner just needs to set up a visible signboard on the premises to be shared. “Guests using the parking lot select the parking time at the time of parking and pay the fee using the [QRpark] application,” the company detailed, adding that “Compared to [traditional] coin parking, capital investment is small, so the price is also cheap.”

The announcement states that the company believes that this system will lower the vacancy rate of monthly parking lots, and expects that approximately 4,000 locations and 10,000 renters nationwide to use this service throughout the year.

At times, no, everytime we need to hear good news on what are surrounded by right?

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[hatshepsut93]

I think the biggest wave of adoption will begin after the official release of Lightning Network, when all major clients will be stable - this will truly unlock Bitcoin as a currency, since confirmation times and fees are often a problem. Some people say that volatility is preventing Bitcoin from being adopted, but often times the advantages of using Bitcoin outweigh the risks of volatility.

[richardsNY]

Some people say that volatility is preventing Bitcoin from being adopted, but often times the advantages of using Bitcoin outweigh the risks of volatility.

It's not even the volatility directly, but the long term potential that's preventing people from spending their coins. People don't want to buy a TV with $1000 worth of Bitcoin when they strongly believe that it can be worth +$2000 a year or even months later. It would sting even more when you spent a large amount of Bitcoin back in January last year, where at current levels it means that your coins could have gained 900% in value. I'm sure that if the market would grow with just a few percent per year, the barrier to spend coins would no longer be there. I do believe that it's just a matter of time before we reach that state, and that with lightning network is a killer combination.

[squatter]

I've never heard of these services/companies. This author seems pretty desperate for content.

I think the biggest wave of adoption will begin after the official release of Lightning Network, when all major clients will be stable - this will truly unlock Bitcoin as a currency, since confirmation times and fees are often a problem. Some people say that volatility is preventing Bitcoin from being adopted, but often times the advantages of using Bitcoin outweigh the risks of volatility.

I don't think the inability to do instant low-value payments is really hindering adoption anyway. I think 2013 and 2017 were just waves of adoption on a continuing exponential trend -- an S-curve, if you will. I think reliable decentralized money is reason enough for exponential adoption.

[hatshepsut93]

Some people say that volatility is preventing Bitcoin from being adopted, but often times the advantages of using Bitcoin outweigh the risks of volatility.

It's not even the volatility directly, but the long term potential that's preventing people from spending their coins. People don't want to buy a TV with $1000 worth of Bitcoin when they strongly believe that it can be worth +$2000 a year or even months later. It would sting even more when you spent a large amount of Bitcoin back in January last year, where at current levels it means that your coins could have gained 900% in value. I'm sure that if the market would grow with just a few percent per year, the barrier to spend coins would no longer be there. I do believe that it's just a matter of time before we reach that state, and that with lightning network is a killer combination.

I was thinking more about the merchants, since they are having a more conservative approach to their finances than their customers - many of them view accepting Bitcoin as a huge risk because of it's volatility, as they can lose a lot of value if it crashes. A lot of companies that were or still are accepting Bitcoin are actually using proxies like Bitpay that immediately convert it into fiat.

As for people unwilling to spend it due to belief that it will increase in value, I think it's okay, since storing value is pretty big use case and it also counts as adoption in my opinion. Even if we for a moment imagine that Bitcoin will fail as a currency (although there's no reason to think so now), being "digital gold" is still a huge achievement.