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Author Topic: ETA until buying grocery at local farmer's market with crypto?  (Read 116 times)
X-Infinity
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July 06, 2018, 08:51:21 AM
 #1

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?
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July 06, 2018, 11:49:48 AM
 #2

Everything is possible in this world, but so far traditional payment methods outperform cryptocurrencies for daily and local payments and vice versa for global payments.
The use of encrypted currency in daily life built on:

 1. The acceptance of people "Many countries/markets still rely on cash in their daily transactions over the use of digital methods."
 2. The legal situation "The legal status is important for enforcing the law on transactions and accounting for aggressors."
 3. The gains that the trader will achieve from it "Without any gain from the acceptance of these methods, the retailer will have no incentive to use it."

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July 06, 2018, 05:10:11 PM
 #3

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

What are we talking about, a person in some city like NY or LA being able to buy from a small private shop that offers crypto payments or that becoming a possibility for the majority in this world?

The first scenario might (if it hasn't already) happen by tomorrow, the other...maybe in a decade.

In my case the answer is probably never as the local market in our town is useless, you find far better fruits and vegetables in hypermarkets and other chain stores.


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July 06, 2018, 06:07:31 PM
 #4

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

See the human being is simply spectacular, years ago no one dreamed of stepping on the moon, years ago no one dreamed in terms of a touch phone, years ago no one dreamed of the modern cars we have today, years ago no one dreamed of airplanes. Today people travel from one country to another and arrive in a few hours. so of course in the future we will buy bananas using cryptos... The world is evolving and is betting on technology, even if certain governments are creating barrier for cryptos, this barrier will not last forever, eventually governments will accept cryptos


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July 07, 2018, 09:46:41 AM
 #5

https://www.reddit.com/r/Bitcoin/comments/721oft/farmers_market_stall_in_eltham_victoria_australia/

It's already happening. If you want to pay with Bitcoin at your local farmers' market, the first step is asking. Sellers are unlikely to go out of their way to accept crypto unless they know there is a demand for it.


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July 07, 2018, 10:47:34 AM
 #6

I'm confident that would be very possible but the question is, Are they willing to adapt blockchain technology and no one stands opposition unto this?

Buying grocery items is only one of the example applications where we can use cryptocurrency, actually I'm imagining right now a scenario where the QR code of my digital wallet are scanned and now ready to go with the stuff I bought ~ simply amazing, isn't it? Smiley Furthermore, I've already read a post here before that you can now actually use btc for buying in a convenient store (in Malaysia I think). So if crypto was able to implent in a convenient store then what more into a larger scale like a supermarket, right? Grin I just really hope this concept will be put in to reality in the near future.

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July 07, 2018, 12:21:17 PM
 #7

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

I try to predict the crypto range not so far that the local farmer does not use crypto as a medium of exchange unless he works for the entrepreneur he sells with the crypto transaction, I still try to think when crypto to be the official and popular means of exchange but nothing more than an alternative to the traditional exchange tools to digital exchange tools for both buy and sell payments, may be useful and successful for all of us
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July 09, 2018, 01:55:45 AM
 #8

Thanks for the replies so far!

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

My original question was meant for your local farmer's market because I realize the state of cryptocurrency awareness differs from one place to another. In big cities, I am assuming there are already merchants who has that as a payment method. I am more curious for smaller cities, or towns and villages in different part of the world.

I'm also curious in the "how far in the future" part of the question. Most people in this forum are sure crypto adoption is just a matter of when, not if. But if you have to give an exact number, how long do you think it will take for you to see your local convenience store or farmer's market start putting up signs accepting some form of crypto?
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July 09, 2018, 02:20:26 AM
 #9

I believe Crypto-Currency will reach on this department lastly. This department is the most distant from technology among all the others. Especially if we are talking about small traditional stores. It will take a long time yet, the old farmers and shop-sellers of our days won't adopt this technology, maybe their heirs will, as a younger generation is usually receptive to the innovations the future brings.

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August 03, 2018, 05:31:17 AM
 #10

I believe Crypto-Currency will reach on this department lastly. This department is the most distant from technology among all the others. Especially if we are talking about small traditional stores. It will take a long time yet, the old farmers and shop-sellers of our days won't adopt this technology, maybe their heirs will, as a younger generation is usually receptive to the innovations the future brings.
Commodity exchanges at farmers' markets are difficult to trade with electronic money. It is still necessary to use cash to service small transactions. After this electronic money only serves commercial transactions on electronics. Online trading with professionalism.

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August 03, 2018, 05:38:56 AM
 #11

Commodity exchanges at farmers' markets are difficult to trade with electronic money.

I completely disagree. It is trivially easy to set up a wallet and print out a QR code for buyers to scan. Much easier than it is to set up the hardware and accounts needed to accept card payments, which many already do.


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August 03, 2018, 09:56:36 PM
 #12

Commodity exchanges at farmers' markets are difficult to trade with electronic money.

I completely disagree. It is trivially easy to set up a wallet and print out a QR code for buyers to scan. Much easier than it is to set up the hardware and accounts needed to accept card payments, which many already do.

But let's admit, not all farmers have the capability to set up shop and install new tech. A huge percent of farmers in developing countries still don't have the means to even get their own plot of land, which makes them unable to meddle with new money or even use it just once. Real world scenario, we're far from using bitcoin dominantly over fiat and that's the truth.

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August 04, 2018, 05:53:49 AM
 #13

Real world scenario, we're far from using bitcoin dominantly over fiat and that's the truth.

True, but the question was when we could use crypto at our local farmers' market. I can already pay by card at every stall at my local market, and my point is that setting up a wallet to receive crypto is easier than buying and configuring a card reader.


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August 04, 2018, 06:16:31 AM
 #14

Adoptation is far enough from fiat to crypto so many problems still exist in crypto today no. 1 issue is the scalabity for now no perfect blockchain can be used like creditcard this days but Im sure in the next coming years it will happen the blockchain is the future of all payment transactions I believe no doubt.     


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August 04, 2018, 11:55:01 AM
 #15

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

The farmers should unite and create their own farmercoin. Grin Maybe this will happen in the near future.
This is the only way to incentivize cryptocurrency purchases in the local agriculture industry.
They should set fixed prices for their goods.For example 10 onions=1 farmercoin  Grin
We don't want that coin to be a pump&dump coin or a speculative financial digital asset.

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August 04, 2018, 11:59:15 AM
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I think everything can happen. But if that would not be an advantage for the farmers. They are very poorly informed about these things. Over time, I think that by 2031 everyone can use it freely.
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August 04, 2018, 12:10:41 PM
 #17

Have you ever consider how far in the future is it to be able to buy groceries (bananas, onion, etc) using cryptos in the local farmer's market?

The farmers should unite and create their own farmercoin. Grin Maybe this will happen in the near future.
This is the only way to incentivize cryptocurrency purchases in the local agriculture industry.
They should set fixed prices for their goods.For example 10 onions=1 farmercoin  Grin
We don't want that coin to be a pump&dump coin or a speculative financial digital asset.

The goal of any currency is to be universally accepted, this (hopefully dying) trend of making shitcoins for every industry is the opposite of that. Why would I have 50 wallets for all sorts of purchases like weed, groceries, gaming, alcohol and so on, if I can just have one single Bitcoin wallet to pay everywhere? Same applies to tokens, there's no need for every new decentralized service to have own token, really it's just a scam to lure investors.

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August 04, 2018, 12:27:52 PM
 #18

Why would anyone pay for consumables with a deflationary currency if they had an inflationary alternative? It goes against human nature. People hoard.

It's going to be possible long before it's desirable, and the chances are it'll never be desirable. Merchant adoption is contracting, not increasing.

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August 04, 2018, 02:30:04 PM
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Well, in my country it is absolutely impossible in the near future because farms in my country are in the awful state with big loans and without any positive perspectives in the near future. However, I like and stand for your idea but unfortunately it is just possible to implement only in high technology counties where there are already infrastructure, equipment and farmers get good income to invest in hi-tech.

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August 04, 2018, 02:33:56 PM
 #20

you are asking about adoption not production of something. when you are producing something you can get an ETA for when it will be done but when you are talking about when people are going to decide to use that thing it will become impossible to do because you can not predict what people are going to do.

and it is not just that, there is a lot of other factors to consider too. and people also are affected by that factors. for example the fact that bitcoin price is still pretty volatile which makes the incentive so that people hold it instead of spending it. and altcoins are super volatile and highly risky which makes people not even think about spending them.

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