On merchants not willing to accept crypto

[deisik]

The prevailing opinion on the forum seems to be that Bitcoin's adoption is limited by merchants' reluctance to accept it as a means of payment. In my eyes this view represents a typical cause-and-effect dilemma, which is colloquially known as putting the cart before the horse (i.e. confusing cause and effect). In this topic I will try to explain why such an opinion is in fact incorrect

To prove that it is not merchants' fault or reluctance to accept Bitcoin but rather unwillingness of the consumers to pay with it, we should think about the use cases where Bitcoin holders may in fact be willing to spend their coins. And if I'm right (which I am), then we should see merchants actually accepting crypto in these areas. This approach can easily prove whether people are really putting the cart before the horse here

Big-time holders don't seem to be very interested in speculating with Bitcoin because they already have enough to live like pigs in clover for the rest of their life. But when you have so much wealth, you would evidently want to spend some of it on things which you dreamed of your whole life, like sports cars, penthouses, jewelries for your girlfriend, traveling around the world and living in 5-star hotels like a king

And this is where we see Bitcoin being willingly accepted by providers of these services and suppliers of such goods. You can easily buy elite real estate, pay for the most exclusive sports cars, seduce your passion with most exquisite jewelries, and you can do all these things with bitcoins - provided you have enough of them, of course. In simple terms, when money talks bullshit walks. And Bitcoin is that money



So it is not about merchants at all

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[o_e_l_e_o]

You are absolutely right.

If you are willing to spend money in exchange for a good or service, be it fiat or bitcoin, there is someone out there who will accept it. Now, while millionaires can buy anything they like in bitcoin by throwing enough money at it, the average person here isn't going to be able to convince some big supermarket or chain to start accepting bitcoin, but they could certainly have success in smaller independent retailers or tradespeople. After me asking every week for a month or so, one of the sellers at my local farmers' market started to accept bitcoin, and now he isn't the only one accepting it and I'm not the only one spending it.

Stop waiting for retailers to accept crypto and start asking them to accept crypto. Holding won't get us anywhere if no one is spending.

[mutrang23]

Try not to accept it as a strange way of dealing with merchants. But some reasons come from governments that forbid it to cause traders to worry about breaking the law. You see they always want to seek profits, but they fear the government controls them and their jobs will threaten.

[figa]

I totally agree. The biggest fear is just adapting crypto. If people would trust it more, they would use it more so there would be no problem in using it in everyday life.

[Slow death]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments.

Imagine that in December 2017, some merchant accepted bitcoin as a means of payment, the merchant would be selling a car for $100,000, if in December 2017 someone had bought this car that costs $100,000, that person would have paid with 5 BTC and if that  car salesman  Hold the 5 BTCs, how much losses should he have these days?

Current bitcoin price:

1 BTC = $ 3560

5 BTC = $ 17,800

merchants will be afraid of this volatility

Bitcoin has not been legalized in many countries, so it would be difficult to have many merchants accepting bitcoin as a means of payment

[xWolfx]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments.

Imagine that in December 2017, some merchant accepted bitcoin as a means of payment, the merchant would be selling a car for $100,000, if in December 2017 someone had bought this car that costs $100,000, that person would have paid with 5 BTC and if that  car salesman  Hold the 5 BTCs, how much losses should he have these days?

Current bitcoin price:

1 BTC = $ 3560

5 BTC = $ 17,800

merchants will be afraid of this volatility

Bitcoin has not been legalized in many countries, so it would be difficult to have many merchants accepting bitcoin as a means of payment

This is a major misconception, because merchants don't have to hold Bitcoins to accept them.

Why? Because services exists this times that handle the payment/exchange process from Bitcoin to the fiat currency of the merchant's preference and availability inside the service itself right away. Extremely easy.

Example: https://bitpay.com/retail

[bellamente]

Now the main problem is bans from the governments of many countries. I think if this is legal tender, then many stores will accept cryptocurrency. However, Bitcoin still confirms transactions for a very long time.

[romero121]

What's said is right in one way, but government have the approach from the opposite side. This lets the people not get into bitcoin as well cryptocurrencies similar to that of fiat. Whenever there is an information from governments about cryptocurrency, surely it'll be against. Very few country governments have known better about bitcoin and supportive. When this happens throughout we can experience the change that's mentioned in the Op.

[deisik]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments

I don't particularly disagree with your points

However, if you are a big merchant with thousands of clients paying or willing to pay with Bitcoin, you can either mass-hedge directly against price volatility (this will cost you around 1% yearly at max) or use third party services that specifically deal with this issue. Besides, we should keep in mind that with expansion of Bitcoin adoption volatility is set to taper off eventually as real value, which comes through such use, takes away from volatility just like speculative value adds to it

[Upgrade00]

The idea of suggesting payments in bitcoins to retailers is practical if you are involved in direct trades and business, or an entrepreneur and both parties are involved in negotiations.
Regular individuals would have to approach management of organizations to accept cryptocurrency. This is difficult in countries with limited exposure to bitcoins and issues of legality.

[Marbelli]

It seems to me that this is a matter of time, and after about five years, we will see that Bitcoins and other cryptocurrencies can be paid in all corners of the planet.

[Theb]

In my point of view I think that both consumers as well as business entities are both trap with the ongoing market. I saw a lot of businesses pulling out Bitcoin as a payment method when BTC starts descending Microsoft, Steam, and Stripe to name a few, its understandable that businesses like these ones are not accepting any additional risk when it comes to accepting a payment that is descending in value. Consumers on the other hand are also affect by the market as well, they will be reluctant to spend on their crypto holdings now when they know that before they could bought the same thing for a lot less of what they are holding now. With these bear market it made consumers hold their position while the businesses have pulled out on a very risky asset. So we should expect that there will be no big names announcing that they will be accepting Bitcoin as a payment method not until prices will settle in or in a upward reversal.

[coolcoinz]

I don't blame merchants. In fact, I don't spend my Bitcoins because I treat them like a long term investment and a store of value. I know that there's this prevailing thought among bitcoiners according to which we should spend to increase adoption and spread the word, but I don't agree with it. To be able to spend you first need to be earning it on a regular basis. If you have a number of coins that you're keeping just like you would be keeping silverware, jewelry, or art, and you're not getting more, why would you get rid of it?
We can't blame merchants, but it's not right to blame the holders either. The system is still immature.

[deisik]

I don't blame merchants. In fact, I don't spend my Bitcoins because I treat them like a long term investment and a store of value. I know that there's this prevailing thought among bitcoiners according to which we should spend to increase adoption and spread the word, but I don't agree with it. To be able to spend you first need to be earning it on a regular basis. If you have a number of coins that you're keeping just like you would be keeping silverware, jewelry, or art, and you're not getting more, why would you get rid of it?
We can't blame merchants, but it's not right to blame the holders either. The system is still immature.

In simple terms, you don't see the forest for the trees

Bitcoin can only have value if it is used in real life. Without the real life adoption, it is set to fail, maybe, not today, or in a year, but the end is kinda carved in stone (remember, laws carved in stone are rewritten in blood). To put it differently, without someone actually using Bitcoin, you won't have it as a store of value. So the holders should in fact be blamed for not using their bitcoins because they are shamelessly profiting from someone else's effort. Your "long-term investment" is possible only thanks to this effort

[o_e_l_e_o]

If you have a number of coins that you're keeping just like you would be keeping silverware, jewelry, or art, and you're not getting more, why would you get rid of it?

The only reason gold, silver, precious metals, gemstones, jewelry, etc, can be used as a store of wealth is because there are people buying, selling and trading these things. If suddenly no one in the world was willing to buy gold, then the price of gold effectively becomes $0. The same can be said of bitcoin, and to an extent, all money including fiat. If no one accepts it as payment for anything, then it essentially becomes worthless.

You can hold bitcoin for as long as you want, but without widespread adoption, it won't be going anywhere.

[ChangeNOW]

I've been in a lot of discussions about whether BTC serves better as a means of storing value or exchanging it. As of now, BTC works better as an SoV - TpS is low, fees are high - of course merchants are reluctant to accept it as a means of payment. Other cryptos might be better at being a means of payment.

[poptok1]

No body mentioned taxation issues and there are quite a few of those these days.
More and more governments started to recognise cryptocurrency, introduction of new means of taxation was just a matter of time.
Some country's still struggle with inefficient, complicated tax ordinance. Law getting as massive as 15000 pages... no body is able to know everting, every aspect and quirk of the law. Special help, trained accountants, advisors don't work for free.

-snip-
So it is not about merchants at all

Agreed, not at all, as in most cases problem is multidimensional.

[deisik]

No body mentioned taxation issues and there are quite a few of those these days.
More and more governments started to recognise cryptocurrency, introduction of new means of taxation was just a matter of time

Actually, I intentionally omitted this part in the OP to keep it readable

Though I didn't mean taxation in particular but rather government regulation in general. Obviously, if Bitcoin payments are frowned upon by the government officials, we can't really expect mass adoption by merchants like Amazon and their likes. On the other hand, any law reflects the social fabric objectively existing in a society (i.e. laws are secondary), and if a lot of people start using crypto without looking over their shoulder, the government won't be able to discard these developments. Otherwise they run the risk of people "discarding" the government itself (like it happens in Venezuela right now)

[poptok1]

-snip- On the other hand, any law reflects the social fabric objectively...

This would be my exact issue here. I have a first hand experience with unreal expectations from my irs.
Last year they wanted us to submit taxes for every transaction crypto -> crypto. Somebody completely detached from reality interpreted the law and requested the impossible. There was a little storm in the community, irs gave up this crazy idea.
However few subjects, like the biggest crypto-exchange had to run away of borders, because taxes would eat them whole up.
As you can see, law matters a lot.

[allthebitandbobs]

We're trying to fix that problem https://allforcrypto.org    .There many issues we have to overcome due.Cryptos user our generally all talk and very tribal.They say they what something but when you offer it to then they don't use it. People only concern is will it increase the price of their particular coin, not that actual adoption. That why we focusing our marketing to non crypto disgruntled ebay amazon sellers .

[deisik]

-snip- On the other hand, any law reflects the social fabric objectively...

This would be my exact issue here. I have a first hand experience with unreal expectations from my irs.
Last year they wanted us to submit taxes for every transaction crypto -> crypto. Somebody completely detached from reality interpreted the law and requested the impossible. There was a little storm in the community, irs gave up this crazy idea.
However few subjects, like the biggest crypto-exchange had to run away of borders, because taxes would eat them whole up.
As you can see, law matters a lot

Yes, just as I said earlier, laws carved in stone are rewritten in blood

And it should be taken literally. If some law is kinda set in stone, i.e. it is assumed to be something sacrosanct and inviolate, no matter what, it will get rewritten in blood sooner or later. Events leading to this are called a revolutionary situation when "the rulers are unable and the ruled ones are unwilling", according to Lenin. I don't think it is particularly different with money as we have an example of Zimbabwe where the population completely abandoned the local currency after the government devalued it. And no law could change this outcome

[tenakha]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments

I don't particularly disagree with your points

However, if you are a big merchant with thousands of clients paying or willing to pay with Bitcoin, you can either mass-hedge directly against price volatility (this will cost you around 1% yearly at max) or use third party services that specifically deal with this issue. Besides, we should keep in mind that with expansion of Bitcoin adoption volatility is set to taper off eventually as real value, which comes through such use, takes away from volatility just like speculative value adds to it

I do not think any technique can easily stand against price volatility. If it was easy, none of us would lose.
Anyway, I still think humanity is not ready for it. Although average circulation of paper money we use today is 4 trillion in the Forex market, the crypto market has a circulation of 16-17($16.830.552.454 according to CMC) billion. And IMO crypto market can be accepted when the cryptocurrency is in the current position of paper money. Also this means a decrease of volatility.

[pixie85]

There are many reasons why people aren't spending Bitcoin. Like why would someone who is at a loss spend his coins in a bear market?
Why would someone who is using this accumulation phase to increase his holdings spend those newly acquired coins?

If you got cheap Bitcoin and they are worth 10 times more now it's very difficult to find something you want to spend them on. If I had a million dollars in cryptocurrency now I wouldn't spend because I don't need anything expensive right now. What am I gonna buy? A thousand pizzas or 5 thousand coffees?

[fumblingperch]

I agree with every word you say. People who have earned their bitcoins by toil can be very difficult to part with them and I understand them. We all wish for bitcoin the best, we love it and believe in it. But sometimes you really do not want to part with their funds. So I don't think we should judge these people.

[miropp]

Yes, there are really a lot of places where cryptocurrency is accepted. But the fact that bitcoin does not develop as a means of payment is not only the fault of the holders. It is influenced by many factors and therefore we do not know the true reason.

[BitBustah]

I agree with every word you say. People who have earned their bitcoins by toil can be very difficult to part with them and I understand them. We all wish for bitcoin the best, we love it and believe in it. But sometimes you really do not want to part with their funds. So I don't think we should judge these people.

People do not want to spend something that will go up in value, it is why fiat money has a high inflation rate that is stable overtime.  Bitcoin may fail as an everyday currency but it will be the new store of rival being a digital version of gold.  PArt of the reason merchants don't want to accept it right now is because of the volatility.  It's not uncommon for bitcoin to lose 10-20 percent in a few days which makes them scared to accept it without converting instantly to fiat.

[allthingsluxury]

Some are just completely either uninformed and misinformed. The disinformation campaign has been vicious and real.

[JRoa]

I agree with every word you say. People who have earned their bitcoins by toil can be very difficult to part with them and I understand them. We all wish for bitcoin the best, we love it and believe in it. But sometimes you really do not want to part with their funds. So I don't think we should judge these people.

People do not want to spend something that will go up in value, it is why fiat money has a high inflation rate that is stable overtime.  Bitcoin may fail as an everyday currency but it will be the new store of rival being a digital version of gold.  PArt of the reason merchants don't want to accept it right now is because of the volatility.  It's not uncommon for bitcoin to lose 10-20 percent in a few days which makes them scared to accept it without converting instantly to fiat.

The volatility of the bitcoin is the main reason why merchants are still not accepting bitcoin as payment. There are only few businesses and stores that are accepting bitcoins in this current year. The adoption will occur if the business will first accept cryptocurrencies for the customers to become interested to use it.

[Bosx1ne]

The adoption will have a hard time because there are merchants who are not willing to accept cryptocurrencies. It will take time because they should be aware to what it is and they should have plan if they will accept cryptocurrencies even it has characteristics of being volatile.

[Koadharber]

The adoption will have a hard time because there are merchants who are not willing to accept cryptocurrencies. It will take time because they should be aware to what it is and they should have plan if they will accept cryptocurrencies even it has characteristics of being volatile.

It takes a lot of time before the merchants accept Cryptocurrency as a payment because they are aware that Bitcoin is not a stable currency,hopefully in the nearest future they will accept it but for now they need to research it well to find out what is the good benefits they can get if they will adopt it.

[pooya87]

i have not seen anybody making a claim that bitcoin's adoption is "limited" by merchants so i am a bit surprised to read it for the first time here. sure, the merchant adoption is one of many factors in bitcoin adoption journey but it is not the limiting factor. and i wouldn't call it "cause and effect". it is more like a chicken and egg problem because they both can be cause and effect at the same time.
- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

[Kakmakr]

Absolutely spot on.  

I have dealt with a lot of merchants before and the general sentiment from these merchants are that the coins being spend are not sufficient to heighten their interest to support it. They have to make changes to their payment system to accommodate for Bitcoin payments and they have to train their staff and this is costing them time and money.

A week ago I visited a local tyre fitment centre and I noticed that they removed the "Bitcoin accepted" sign from their display window. I queried this decision and the manager told me that they simply did not get enough Bitcoin business to justify the effort to support it.    

We should still support Bitcoin merchants, even if the Bitcoin price is low or more of this will happen.  

[deisik]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments

I don't particularly disagree with your points

However, if you are a big merchant with thousands of clients paying or willing to pay with Bitcoin, you can either mass-hedge directly against price volatility (this will cost you around 1% yearly at max) or use third party services that specifically deal with this issue. Besides, we should keep in mind that with expansion of Bitcoin adoption volatility is set to taper off eventually as real value, which comes through such use, takes away from volatility just like speculative value adds to it

I do not think any technique can easily stand against price volatility. If it was easy, none of us would lose

It is in fact quite easy

Most of us are not doing this because a) we simply don't know how b) hedging against volatility means we are sacrificing future profits via "buying low selling high". But for merchants and producers (who are not interested in speculation), it is a working strategy which is widely used everywhere in the world (I'm not talking about crypto specifically here). If you want to hedge against future price change, you can hedge with futures or options. With crypto, you just open a short position equal to the amount held. In that case, you are 100% protected from any price move, though, as I said, you can also kiss goodbye to your profits as well

[Bttzed03]

There is also that instance that merchants have no idea what bitcoin or cryptocurrency is and that's another reason why they're unwilling to accept. Being persistent in asking these merchants is actually a good step to make them aware and eventually accept crypto

[deisik]

There are many reasons why people aren't spending Bitcoin. Like why would someone who is at a loss spend his coins in a bear market?

Actually, this is a good reason

As you can either sell them and book losses or spend them and then not have that feeling of being a complete loser having to close a losing position. Well, ultimately it is still six of one and half a dozen of the other, but in the latter case you won't feel yourself that low. And you can always buy back when the price goes lower and feel like a winner

If you got cheap Bitcoin and they are worth 10 times more now it's very difficult to find something you want to spend them on. If I had a million dollars in cryptocurrency now I wouldn't spend because I don't need anything expensive right now. What am I gonna buy? A thousand pizzas or 5 thousand coffees?

That's because you don't have a million dollars in cryptocurrency. Or, maybe, it is the exact reason why you don't have so much in the first place

[daarul50]

There is also that instance that merchants have no idea what bitcoin or cryptocurrency is and that's another reason why they're unwilling to accept. Being persistent in asking these merchants is actually a good step to make them aware and eventually accept crypto

However, there are also traders who already know bitcoin but still don't want to accept bitcoin. Why? because they do not yet trust transactions using bitcoin so that knowledge of bitcoin is not enough, it requires trust from both parties to bitcoin to make a transaction.

[incomefromcoins]

some merchants aren't willing to accept crypto the main reason is that of the uncertainty of prices in the crypto market keep fluctuations so merchants are afraid to accept crypto currencies

[poptok1]

-snip- On the other hand, any law reflects the social fabric objectively...

-snip-

-snip-...according to Lenin

Godwin's law should be also applied to situations similar to that above and where I do agree with you, reality shows us that vast majority of people are unwilling to spill blood, especially their own. They will rather flee the country, avoiding taxation and deprive the system of their money.

-snip-
not get enough Bitcoin business to justify the effort to support it.   

Out of curiosity, what would those hidden costs be?
Staff trained once, retains the knowledge. Wallets are free so as participation in the network. Legal help also is paid once.
What is that that I'm missing? 

[deisik]

i have not seen anybody making a claim that bitcoin's adoption is "limited" by merchants so i am a bit surprised to read it for the first time here. sure, the merchant adoption is one of many factors in bitcoin adoption journey but it is not the limiting factor. and i wouldn't call it "cause and effect". it is more like a chicken and egg problem because they both can be cause and effect at the same time.
- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

I don't actually think it is more like a chicken and egg problem. As you can see from reports posted here, it is along the way I see it. And I've given examples in the opening post which factually prove my point, i.e. whenever there is real interest from consumers to pay in Bitcoin which involves serious money (like in real estate business), there is no lack of merchants ready to accept crypto as long as it is not prohibited by the law. To repeat, when money talks bullshit walks

Regarding no one making such claims, you can start here

[Xising]

You are absolutely right.

If you are willing to spend money in exchange for a good or service, be it fiat or bitcoin, there is someone out there who will accept it. Now, while millionaires can buy anything they like in bitcoin by throwing enough money at it, the average person here isn't going to be able to convince some big supermarket or chain to start accepting bitcoin, but they could certainly have success in smaller independent retailers or tradespeople. After me asking every week for a month or so, one of the sellers at my local farmers' market started to accept bitcoin, and now he isn't the only one accepting it and I'm not the only one spending it.

Stop waiting for retailers to accept crypto and start asking them to accept crypto. Holding won't get us anywhere if no one is spending.

Although cryptocurrency has a lot of potential to consider so to speak, you can't really blame those merchants or shops that are adamant and hesitant to accept cryptocurrencies as payment mostly for their goods and services. I mean, as a merchant or marketer, you have to shed off a good amount of capital to do business, and more capital to sustain it, and if you would rely at something that is actually unreliable and has changing values more often than not, it might affect your business big time. There's nothing better than having cold hard cash that everyone knows and accepts.

[deisik]

You are absolutely right.

If you are willing to spend money in exchange for a good or service, be it fiat or bitcoin, there is someone out there who will accept it. Now, while millionaires can buy anything they like in bitcoin by throwing enough money at it, the average person here isn't going to be able to convince some big supermarket or chain to start accepting bitcoin, but they could certainly have success in smaller independent retailers or tradespeople. After me asking every week for a month or so, one of the sellers at my local farmers' market started to accept bitcoin, and now he isn't the only one accepting it and I'm not the only one spending it.

Stop waiting for retailers to accept crypto and start asking them to accept crypto. Holding won't get us anywhere if no one is spending.

Although cryptocurrency has a lot of potential to consider so to speak, you can't really blame those merchants or shops that are adamant and hesitant to accept cryptocurrencies as payment mostly for their goods and services. I mean, as a merchant or marketer, you have to shed off a good amount of capital to do business, and more capital to sustain it, and if you would rely at something that is actually unreliable and has changing values more often than not, it might affect your business big time. There's nothing better than having cold hard cash that everyone knows and accepts

You don't take into account everything that counts here

Basically, you are assuming that people across the world have inflation rates like 3-4% annually. While it is certainly true for countries like US, Japan (with its perpetual deflation) and the Eurozone, this is definitely not so with respect to the rest of the world. In many countries inflation is times greater than that, and in some of them it lies in the region of double and triple digits (not even speaking of Venezuela here). So how are merchants making business in the countries where fiat money is even less reliable than Bitcoin and far from "cold hard cash" unless you actually mean a cold corpse in rigor mortis as cash?

[satosibtc1000]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments.

Imagine that in December 2017, some merchant accepted bitcoin as a means of payment, the merchant would be selling a car for $100,000, if in December 2017 someone had bought this car that costs $100,000, that person would have paid with 5 BTC and if that  car salesman  Hold the 5 BTCs, how much losses should he have these days?

Current bitcoin price:

1 BTC = $ 3560

5 BTC = $ 17,800

merchants will be afraid of this volatility

Bitcoin has not been legalized in many countries, so it would be difficult to have many merchants accepting bitcoin as a means of payment

On the one hand you are right the price is not stable, but bitcoin can be easily controlled in a regular currency. In General, it is best to take it and keep it when the price of bitcoin is low. You can make a profit out of it.

[cfif123]

Try not to accept it as a strange way of dealing with merchants. But some reasons come from governments that forbid it to cause traders to worry about breaking the law. You see they always want to seek profits, but they fear the government controls them and their jobs will threaten.

for me because traders don't want to lose at current market prices so traders reject crypto my feelings are more or less and I feel like looking at such traders and reasoning like that too

[deisik]

-snip-
not get enough Bitcoin business to justify the effort to support it.   

Out of curiosity, what would those hidden costs be?
Staff trained once, retains the knowledge. Wallets are free so as participation in the network. Legal help also is paid once.
What is that that I'm missing? 

You are missing quite a few factors at play here

All in all, you are missing a good reality check if I can say so (no offense intended, just in case). Staff come and go, and still more so for big retailers. Therefore, you can't really expect to train them once. It is typically twice, thrice, and more times. The same is also true with respect to legal help as regulation, and Bitcoin regulation in particular, is rapidly changing, so it is not a "shoot and forget" thing either. In this way, without constant inflow of cryptobuyers, it may be not worth the deal after all. And maybe, you are missing something else here

[tenakha]

[...]

bitcoin is very volatile, such high volatility becomes a major barrier for merchants to accept bitcoin as a means of payments

I don't particularly disagree with your points

However, if you are a big merchant with thousands of clients paying or willing to pay with Bitcoin, you can either mass-hedge directly against price volatility (this will cost you around 1% yearly at max) or use third party services that specifically deal with this issue. Besides, we should keep in mind that with expansion of Bitcoin adoption volatility is set to taper off eventually as real value, which comes through such use, takes away from volatility just like speculative value adds to it

I do not think any technique can easily stand against price volatility. If it was easy, none of us would lose

It is in fact quite easy

Most of us are not doing this because a) we simply don't know how b) hedging against volatility means we are sacrificing future profits via "buying low selling high". But for merchants and producers (who are not interested in speculation), it is a working strategy which is widely used everywhere in the world (I'm not talking about crypto specifically here). If you want to hedge against future price change, you can hedge with futures or options. With crypto, you just open a short position equal to the amount held. In that case, you are 100% protected from any price move, though, as I said, you can also kiss goodbye to your profits as well

In others it is possible, because the price is not so volatile. In my opinion everything is not what you said, for instance if you have a big percent of market you can go against price volatility that moves 100 pip up and 100 pips down in 1 hour. And here, not naturalness, your laws are valid and this is not welcome by any investor and you will lose anyway.

[drumamat]

We're trying to fix that problem https://allforcrypto.org    .There many issues we have to overcome due.Cryptos user our generally all talk and very tribal.They say they what something but when you offer it to then they don't use it. People only concern is will it increase the price of their particular coin, not that actual adoption. That why we focusing our marketing to non crypto disgruntled ebay amazon sellers .

You are certainly right. Alas, the majority is interested only in increasing the value of their coins.Under these conditions, it is difficult to attract a large number of merchants who want to accept Bitcoin as payment.We need some kind of impetus for large-scale adoption of cryptocurrencies by both sellers and buyers.

[deisik]

some merchants aren't willing to accept crypto the main reason is that of the uncertainty of prices in the crypto market keep fluctuations so merchants are afraid to accept crypto currencies

There is no logic in that given how many fiat currencies are in a perpetual inflation loop

Businesses are profit-oriented and they typically leave no stone unturned to sell more goods and services, so if Bitcoin payments allow them to attract more consumers and thus bring more profits, they should be all in. Of course, if there are regulations that prevent this, they might not want to risk their business but other than that, there is absolutely no reason for businesses to decline Bitcoin payments

[CryptoKush]

I think that Bitcoin users are not in a hurry to spend Bitcoins now. The price of Bitcoin is now too low to spend. Therefore, there is no demand for payment for goods using cryptocurrency.

[BitHodler]

I think that Bitcoin users are not in a hurry to spend Bitcoins now. The price of Bitcoin is now too low to spend. Therefore, there is no demand for payment for goods using cryptocurrency.

There are always people ready to spend their coins, regardless of what the price is. If no one ever spent a satoshi there wouldn't be any revenue being generated by payment gateways.

BitPay, while not many people seem to like that service because of their political position, has generated over $1 billion in revenue last year, and that while the price continued to go down month after month.

I'm not aware of what Coinbase generated in revenue last year from its merchant side, but it wouldn't surprise me if it is a few hundred million in total considering their level of adoption.

[Argoo]

It seems to me that this is a matter of time, and after about five years, we will see that Bitcoins and other cryptocurrencies can be paid in all corners of the planet.

Now for the use of Bitcoin and other cryptocurrencies as a means of payment really just did not come the time. Here everyone is a little right. No need to run in front of the cart. On the one hand, the cryptocurrency is still imperfect and very difficult for mass use. On the other hand, there is not enough of its legalization on the part of states. Without this, the business structure does not want to accept them. They need clear rules of settlement in cryptocurrency for normal relations with the tax service and audit. How will the business structures in a few months prove to the tax authorities at what price in the cryptocurrency they sold the goods, if the price in the cryptocurrency has changed thousands of times during this time? In business, all this should be clearly stated. And the owner of the cryptocurrency still does not know what to do with it, or keep it, because over time it can grow in price, or use it as a means of payment. In due course all these problems will settle down and everything will work as a streamlined clock mechanism.
Now just until it is time for this.

[pooya87]

there is no lack of merchants ready to accept crypto as long as it is not prohibited by the law. To repeat, when money talks bullshit walks

but that is not the biggest reason why they aren't accepting bitcoin as payment in my opinion. specially since it is not prohibited by law in most countries in the world!
the biggest reason is still lack of demand. a shop needs to know that if they start accepting bitcoin as payment then there will be enough customers who are going to spend there so that the efforts are not a waste.
for example imagine you have a shop in New York, would you start accepting all kinds of currencies like Chinese Yen? it is not illegal to accept CNY but you won't simply because you don't know if there is anybody who would even spend it there and you don't want the hassle of setting up a payment system to accept it assuming it is not going to be in cash payments.

[Sithawaka]

For merchnts to reject bitcoin as a means of payment high volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it

[udidrone]

I think that Bitcoin users are not in a hurry to spend Bitcoins now. The price of Bitcoin is now too low to spend. Therefore, there is no demand for payment for goods using cryptocurrency.

As you must know even bitcoin cheaper than now, people already hurry to make it as payment. And then when it is on high price, peoples objected to fees because it's value increased too even in satoshis it still same.

[deisik]

there is no lack of merchants ready to accept crypto as long as it is not prohibited by the law. To repeat, when money talks bullshit walks

but that is not the biggest reason why they aren't accepting bitcoin as payment in my opinion. specially since it is not prohibited by law in most countries in the world!
the biggest reason is still lack of demand. a shop needs to know that if they start accepting bitcoin as payment then there will be enough customers who are going to spend there so that the efforts are not a waste.
for example imagine you have a shop in New York, would you start accepting all kinds of currencies like Chinese Yen? it is not illegal to accept CNY but you won't simply because you don't know if there is anybody who would even spend it there and you don't want the hassle of setting up a payment system to accept it assuming it is not going to be in cash payments

Hey, did you read the OP?

As this is exactly what this topic is about. It is about merchants not accepting cryptocurrencies because no one wants to pay with them (this is a bit of an exaggeration but you get the point), and not because they don't want to earn more profits through cryptopayments as the claims of some folks here essentially come down to. Where there is enough demand for such payments, merchants don't wait to show up as well

[aarons6]

i think the main reason is because of the way its taxed. its not seen as currency but as product, or property

if i was a merchant i certainly would not want to be taxed buying bitcoin (you are actually buying bitcoin by trade) and then taxed again selling it, specially if you happen to sell it at a profit. unless you hold it for a year.

the way its done it makes things too complicated to deal with.

[deisik]

i think the main reason is because of the way its taxed. its not seen as currency but as product, or property

if i was a merchant i certainly would not want to be taxed buying bitcoin (you are actually buying bitcoin by trade) and then taxed again selling it, specially if you happen to sell it at a profit. unless you hold it for a year.

the way its done it makes things too complicated to deal with

That depends on jurisdiction, obviously

For example, in Japan Bitcoin is legally considered a currency (e.g. like the US dollar) so the tax regulation of cryptocurrencies shouldn't be much different from how foreign currencies are regulated. I think it is along these lines in most of Europe as well. On the other hand, some American states went so far as decided to accept Bitcoin as a local "legal tender" of sorts for paying state taxes. That's not a bad sign from my perspective. If you can pay taxes with Bitcoin, you should be able to use it a legal means of payment as well (since this is what the idea of legal tender comes down to)

[cherryganda]

Bitcoin regulation is in big trouble now and there are no indication that ETF will be approve.
There are some country who dont want bitcoin on their circulation.
As long as this exist in the world there will be less merchant who are willing to accept BTC.
Those who wants to save BTC for the future or like to do trading in exchange.

[24Kt]

there is no lack of merchants ready to accept crypto as long as it is not prohibited by the law. To repeat, when money talks bullshit walks

but that is not the biggest reason why they aren't accepting bitcoin as payment in my opinion. specially since it is not prohibited by law in most countries in the world!
the biggest reason is still lack of demand. a shop needs to know that if they start accepting bitcoin as payment then there will be enough customers who are going to spend there so that the efforts are not a waste.
for example imagine you have a shop in New York, would you start accepting all kinds of currencies like Chinese Yen? it is not illegal to accept CNY but you won't simply because you don't know if there is anybody who would even spend it there and you don't want the hassle of setting up a payment system to accept it assuming it is not going to be in cash payments

Hey, did you read the OP?

As this is exactly what this topic is about. It is about merchants not accepting cryptocurrencies because no one wants to pay with them (this is a bit of an exaggeration but you get the point), and not because they don't want to earn more profits through cryptopayments as the claims of some folks here essentially come down to. Where there is enough demand for such payments, merchants don't wait to show up as well

The OP has actually valid explanation on this scenario of accepting crypto as payment method. If people are willing to pay no matter what the volatility issue is, there will always be merchants that will also extend their services.

[shield132]

The prevailing opinion on the forum seems to be that Bitcoin's adoption is limited by merchants' reluctance to accept it as a means of payment. In my eyes this view represents a typical cause-and-effect dilemma, which is colloquially known as putting the cart before the horse (i.e. confusing cause and effect). In this topic I will try to explain why such an opinion is in fact incorrect

To prove that it is not merchants' fault or reluctance to accept Bitcoin but rather unwillingness of the consumers to pay with it, we should think about the use cases where Bitcoin holders may in fact be willing to spend their coins. And if I'm right (which I am), then we should see merchants actually accepting crypto in these areas. This approach can easily prove whether people are really putting the cart before the horse here

Big-time holders don't seem to be very interested in speculating with Bitcoin because they already have enough to live like pigs in clover for the rest of their life. But when you have so much wealth, you would evidently want to spend some of it on things which you dreamed of your whole life, like sports cars, penthouses, jewelries for your girlfriend, traveling around the world and living in 5-star hotels like a king

And this is where we see Bitcoin being willingly accepted by providers of these services and suppliers of such goods. You can easily buy elite real estate, pay for the most exclusive sports cars, seduce your passion with most exquisite jewelries, and you can do all these things with bitcoins - provided you have enough of them, of course. In simple terms, when money talks bullshit walks. And Bitcoin is that money
So it is not about merchants at all

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want.

[deisik]

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

Actually, some tried to integrate Bitcoin into their payment systems

For example, Steam, Microsoft, maybe a few other big names. Steam later closed this payment channel, and the real reason, as I'm inclined to think, was the lack of people willing to pay with crypto. Otherwise, it simply didn't make any economic sense provided crypto generated enough payments to support the payment infrastructure. And that is the exact reason why merchants might not want to accept Bitcoin and other cryptocurrencies - because the costs of integrating and supporting this infrastructure might easily exceed the profits generated through it

[Chikitita2004]

You are absolutely right.

If you are willing to spend money in exchange for a good or service, be it fiat or bitcoin, there is someone out there who will accept it. Now, while millionaires can buy anything they like in bitcoin by throwing enough money at it, the average person here isn't going to be able to convince some big supermarket or chain to start accepting bitcoin, but they could certainly have success in smaller independent retailers or tradespeople. After me asking every week for a month or so, one of the sellers at my local farmers' market started to accept bitcoin, and now he isn't the only one accepting it and I'm not the only one spending it.

Stop waiting for retailers to accept crypto and start asking them to accept crypto. Holding won't get us anywhere if no one is spending.

True enough. Everyone is holding, not willing to spend any of their holdings and yet expecting bitcoin to have a better price. No use of it will make it dormant, imobile and for sure nothing will happen to our expectations and speculations. The supply and demand remains stagnant.

[andypagonthemove]

If merchants prices fluctuate, and are actually pegged to a fiat currency, then can that really be said to be "accepting bitcoins". To my mind they're not really accepting bitcoin, but using bitcoin as a way of transfering fiat.

[deisik]

You are absolutely right.

If you are willing to spend money in exchange for a good or service, be it fiat or bitcoin, there is someone out there who will accept it. Now, while millionaires can buy anything they like in bitcoin by throwing enough money at it, the average person here isn't going to be able to convince some big supermarket or chain to start accepting bitcoin, but they could certainly have success in smaller independent retailers or tradespeople. After me asking every week for a month or so, one of the sellers at my local farmers' market started to accept bitcoin, and now he isn't the only one accepting it and I'm not the only one spending it.

Stop waiting for retailers to accept crypto and start asking them to accept crypto. Holding won't get us anywhere if no one is spending.

True enough. Everyone is holding, not willing to spend any of their holdings and yet expecting bitcoin to have a better price. No use of it will make it dormant, imobile and for sure nothing will happen to our expectations and speculations. The supply and demand remains stagnant

This is a separate topic which deserves its own thread and thorough analysis 

As everyone is holding and not going to spend anything from their stashes, we could expect the prices to decline. In this manner, it is not very likely that supply and demand will remain stagnant. Maybe not today, but we will see a lot of price action with people probably adding more to their stashes as many are promising here (let's assume they actually put their money where their mouth is). But if things remain the same, this process is set to repeat itself over and over again. And this is the price holders are going to pay for their greediness and reluctance

[keanne_isaac]

Early adopter of crypto currency and bitcoin to be specific will reap more positive revenue than to those who stick to the old means of payment and not adopting cryptocurrency. In the end more and more people would used crypto currency as mode of payment both online and offline transaction.

[ranman09]

This is a major misconception, because merchants don't have to hold Bitcoins to accept them.

Why? Because services exists this times that handle the payment/exchange process from Bitcoin to the fiat currency of the merchant's preference and availability inside the service itself right away. Extremely easy.

Example: https://bitpay.com/retail

Is this what I think it is?

You can accept payment and then quickly convert it into fiat right away with the current market price?

[deisik]

This is a major misconception, because merchants don't have to hold Bitcoins to accept them.

Why? Because services exists this times that handle the payment/exchange process from Bitcoin to the fiat currency of the merchant's preference and availability inside the service itself right away. Extremely easy.

Example: https://bitpay.com/retail

Is this what I think it is?

You can accept payment and then quickly convert it into fiat right away with the current market price?

No, it is not what you think it is

The poster you replied to seems to mean that merchants don't even see any cryptocurrency per se as they are using payment processors like BitPay or CoinGate, which deal with all the required conversions and volatility issues. Basically, you, as an online shop owner, just install a plugin on your site which is provided by the payment processor, and your clients will be able to pay with crypto. Then at the end of the week you receive a fiat transfer into your bank account which totals payments made during that week by the clients of your shop

[bitbunnny]

Early adopter of crypto currency and bitcoin to be specific will reap more positive revenue than to those who stick to the old means of payment and not adopting cryptocurrency. In the end more and more people would used crypto currency as mode of payment both online and offline transaction.

That it's true, with time Bitcoin will get more adopted but still there are some conditions for that. As far as businesses are involved Bitcoin is still too risky and too expensive for them and that is also valid for online merchants who are still not willing enough to accept Bitcoin. Bitcoin debit cards are the solution for users who thus don't have to worry if the merchants accept Bitcoin directly or not. I think that positive regulation could help with better Bitcoin acceptance by merchants who would thus feel more secure and protected.

[Julunguul]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

[ranman09]

Is this what I think it is?

You can accept payment and then quickly convert it into fiat right away with the current market price?

No, it is not what you think it is

The poster you replied to seems to mean that merchants don't even see any cryptocurrency per se as they are using payment processors like BitPay or CoinGate, which deal with all the required conversions and volatility issues. Basically, you, as an online shop owner, just install a plugin on your site which is provided by the payment processor, and your clients will be able to pay with crypto. Then at the end of the week you receive a fiat transfer into your bank account which totals payments made during that week by the clients of your shop
[/quote]

Great explanation. Thank you. So it is not automatic just as I said it will be, but it was close. So merchants can do these I wonder why they won't? Maybe because crypto can still bounce up and down in a week?

[deisik]

Great explanation. Thank you. So it is not automatic just as I said it will be, but it was close. So merchants can do these I wonder why they won't? Maybe because crypto can still bounce up and down in a week?

It is fully automatic in case of Bitcoin payment cards

But in this case you just pay with your Bitcoin card in the same way as with any other such card, and whoever you pay to may not even know that you paid with crypto. Obviously, this has nothing to do with merchants knowingly willing to accept cryptopayments. Regarding accepting Bitcoin payments online, there is simply no demand for such payments as explained in the OP. And that's the root of the problem

Really, given that you can easily integrate cryptopayments into your shop and the payment processor guarantees you real-time exchange rates (this is not a big deal), every merchant would readily add this option if there was massive demand for such payments. Further, you receive the bulk payment at the end of the week but the conversion rates are determined real-time, i.e. when a client actually pays (not at the end of the week, as you seem to assume)

[Nellayar]

Merchants do not want to accept bitcoin because of its volatility. The price of bitcoin change fastly time by time and no one can predict where it will go (increasing or decreasing movement). They just want an assurance that they can make profits with their products. In fact, if I will goes to their own shoes, I definitely accept fiat than cryptocurrency. Specially, if I will sell a lambo or ferrari car.

[JPSelzer]

It should take enough time for people to stop considering bitcoin as an investment tool. Now only a few are ready to pay with bitcoins for any product or service. But I hope that in the future we will gradually come to the fact that crypto will be used on a par in Fiat money.

[deisik]

Merchants do not want to accept bitcoin because of its volatility. The price of bitcoin change fastly time by time and no one can predict where it will go (increasing or decreasing movement). They just want an assurance that they can make profits with their products. In fact, if I will goes to their own shoes, I definitely accept fiat than cryptocurrency. Specially, if I will sell a lambo or ferrari car

Volatility is not an issue here

Merchants can accept crypto via payment gateways. Well, actually, it is not them who accepts crypto as merchants are in fact accepting fiat before. It is these gateways that actually accept cryptopayments and it is them who are dealing with the volatility issues, i.e. merchants are offered instant real-time exchange rates and there is virtually no slippage (read, volatility doesn't mean a thing to shops)

Big retailers, on the other hand, can directly accept crypto. In that case they should themselves hedge against volatility, but it is not a big deal either as there are enough liquidity providers which help solve this issue as easily and as cheap

[celot]

We sad about many merchant is not willing to accept bitcoin as transaction payment, how ever bitcoin is easy way ho to purchase buy or selling our product, have lower fee if using bitcoin than we have use USD.

[Screamshot]

If you believe in a  project you have to make some sacrifices to make that project succeed. Merchants who believe in cryptocurrency are to try their best no matter the condition bitcoin is facing to accept it as a means of payment so the general public do not lose hope on bitcoin. 

[pixie85]

There are many reasons why people aren't spending Bitcoin. Like why would someone who is at a loss spend his coins in a bear market?

Actually, this is a good reason

As you can either sell them and book losses or spend them and then not have that feeling of being a complete loser having to close a losing position. Well, ultimately it is still six of one and half a dozen of the other, but in the latter case you won't feel yourself that low. And you can always buy back when the price goes lower and feel like a winner

Trying to fish for the bottom is a terrible idea. It's like joining a black friday crowd to fight over who gets to that huge flat screen first. People who are selling and waiting for it to go back up usually are the same people who buy and wait for it to reach +1000%.

Why would you feel like a loser when the price is down? I wouldn't because I know it's a temporary situation and I wouldn't sell at a loss.

If you got cheap Bitcoin and they are worth 10 times more now it's very difficult to find something you want to spend them on. If I had a million dollars in cryptocurrency now I wouldn't spend because I don't need anything expensive right now. What am I gonna buy? A thousand pizzas or 5 thousand coffees?

That's because you don't have a million dollars in cryptocurrency. Or, maybe, it is the exact reason why you don't have so much in the first place

I don't have a million because I come from a poor family and couldn't invest a lot even if I wanted to. For the same reason I'm not a spender who wastes money on unimportant things. Life taught me to value money and I understand and support people who see the true value behind Bitcoin and are holding.

[jointherevolution]

For me there are merchants who refuse to accept crypto and also consumers who do not care about crypto. But let's take a look back in a couple decades, a lot of people did not like plastic money too. The difference between the two is that governments and banks made plastic money necesary so people had to adjust to it. I do not see how this will happen with crypto.

[deisik]

There are many reasons why people aren't spending Bitcoin. Like why would someone who is at a loss spend his coins in a bear market?

Actually, this is a good reason

As you can either sell them and book losses or spend them and then not have that feeling of being a complete loser having to close a losing position. Well, ultimately it is still six of one and half a dozen of the other, but in the latter case you won't feel yourself that low. And you can always buy back when the price goes lower and feel like a winner

Trying to fish for the bottom is a terrible idea. It's like joining a black friday crowd to fight over who gets to that huge flat screen first. People who are selling and waiting for it to go back up usually are the same people who buy and wait for it to reach +1000%.

Why would you feel like a loser when the price is down? I wouldn't because I know it's a temporary situation and I wouldn't sell at a loss

I understand your point

If you really believe deep inside that the current decline is a temporary situation, you wouldn't indeed sell for a loss and wouldn't feel like a complete loser as you don't doubt and question your trading decisions (I mean, your whole involvement with crypto). But this is not the case with the majority of cryptocurrency "investors" (aka bagholders) who bless with their mouth and curse inwardly. If given a chance, they would gladly sell at their entry point and forget about crypto for good

If you got cheap Bitcoin and they are worth 10 times more now it's very difficult to find something you want to spend them on. If I had a million dollars in cryptocurrency now I wouldn't spend because I don't need anything expensive right now. What am I gonna buy? A thousand pizzas or 5 thousand coffees?

That's because you don't have a million dollars in cryptocurrency. Or, maybe, it is the exact reason why you don't have so much in the first place

I don't have a million because I come from a poor family and couldn't invest a lot even if I wanted to. For the same reason I'm not a spender who wastes money on unimportant things. Life taught me to value money and I understand and support people who see the true value behind Bitcoin and are holding

Basically, if you don't have a million, you can't feel and think like a real millionaire. But it also works in reverse as well, to wit, you are not a millionaire because you can't think and act like a millionaire. That was my point

[Sithawaka]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector 

[Ains_sama]

at the moment the traders are waiting for a very good moment to make a sale, because we know that the price of bitcoin and crypto has been too long for a low price decline.

[naufals4]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector 

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

[imstillthebest]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector  

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

No mate.  Crypto can even increase more because if a merchant accepts crypto , other people might be curious of it and they will soon try it out  .  now in case of loosing , its not the problem of the merchant or the crypto anymore but that is the problem of the trader because he is the one who is deciding for his funds  .

[Groucho]

Yes you can buy the most fantastic things with Bitcoin and live the way of the rich & these merchants that accept this type of payment take the biggest risk maybe because they are rich and speculate in Bitcoin as they have agreed to take this form of payment. Ordinary retail merchants Bitcoin payments are definitely not a practical method of payment because the percentage of profit maybe so slight that the more Bitcoin that they accumulate can have a detrimental effect on profit margins. As Bitcoin fluctuates to much they would incur a heavy loss against luxury merchants that are Bitcoin savvy consider their goods as a stock trade with higher percentages of profit buy with Bitcoin pay more sell for Bitcoin attract newer type of customer. The only way that I can ever see Bitcoin merchant adoption is if when the seller has a bitcoin payment everything is handled on the buyers end the buyer pays with Bitcoin plus percentage for conversion to stable token and the funds are sent to the merchant. Bitcoin fluctuates that much that BTC would have a major flaw as the time it would take to reach the vendor can at times take more than 2 hours as you have probably experienced also.   

[eaLiTy]

- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

The merchant adoption rate was much bigger during 2013 and more merchants were accepting bitcoin during that time than the present situation and since you are an old member you might remember those golden moments, our catch phrase during that time was transfer any small amount all over the globe basically without any fees or a very minimal fees, but things turned for the worst when transaction reached a bottle neck and transaction fees started rising and that is the reason many merchants stopped accepting bitcoin and they are yet to open the market so soon after that situation. Major online outlet accepting bitcoin will make a huge difference without a doubt.

[thesmallgod]

Your points are actually valid. before 2017 in my country, just few local exchanger and merchant that will accept bitcoin exist but immediately many people are getting to know bitcoin and they are as well holding it, it create a pressure which drive the acceptance among merchant because many people are ready to use it as a payment options. today we have so many merchant that accept not only bitcoin and ethereum but also some other coin such as XRP. willingness of people to use bitcoin make more merchant to accept it.

[deisik]

- if we get more merchants to accept bitcoin as payment the adoption will grow
- if the adoption grows then merchants will see it and accept bitcoin as payment.

The merchant adoption rate was much bigger during 2013 and more merchants were accepting bitcoin during that time than the present situation and since you are an old member you might remember those golden moments, our catch phrase during that time was transfer any small amount all over the globe basically without any fees or a very minimal fees, but things turned for the worst when transaction reached a bottle neck and transaction fees started rising and that is the reason many merchants stopped accepting bitcoin and they are yet to open the market so soon after that situation. Major online outlet accepting bitcoin will make a huge difference without a doubt

If ever, it was not the direct cause

But obviously, people were pretty much discouraged to pay such exorbitant fees even if they wanted to buy something for Bitcoin as it was them who paid the transaction fees, not merchants. So merchants (whoever accepted cryptocurrencies) turned off this payment option due to lack of demand as it might have become prohibitively expensive for them to support see (see Steam as an example of that)

[LogitechMouse]

One reason is because of the volatility of it. They are afraid that they will be in a loss if they try to accept crypto in their stores. If you will see the movement of Bitcoin in the past 2 years, in 2017 it went from 1000 to around 20000 in less than a year and then it falls at around 3000-4000 in the end of 2018. Many are not accepting it because of this nature of Bitcoin.

I agree with what you are saying. There are many Bitcoin holders out there and its just the consumer doesn't want to use their Bitcoin to buy things because they are hoping that they will gain profit in a certain time.

[bajingluncat]

indeed there are too many things that hinder the adoption of bitcoin in everyday life
1. traders, even though they are not completely wrong, may be a matter of calculating profits, if using btc, the amount of profit is uncertain
2. Buyers, too many considerations especially if you see prices going up, they prefer to save as an investment tool rather than using it to buy goods
3. government, there is a regulation that only cash issued by central banks is a legitimate means of transaction, is the most important obstacle because it deals directly with the law
4. price fluctuations, price volatility makes people think again to make it an eye
  money
5. security and many other factors that make bitcoin hard to become a full currency.
in conclusion, all right is not an absolute mistake of the trader but the choice is returned to those who have bitcoin itself

[iMark]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector 

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

That is a mainstream reason, I think merchants will definitely receive payment with bitcoin when the demand for it is very large? for now many merchants have not added bitcoin as their payment method because there is still little people use it, when the demand for it is large, they will definitely accept

[traderethereum]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector 

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

I don't think so because merchants will watch the bitcoin price at the market and somehow, they will enter the market too as traders and they will considering that way will give them more profit. I think with many merchants will accept bitcoin as a payment, the rate of bitcoin will get stable because I think the merchants don't want to see the price fluctuate in often or very quickly. But hmm I wonder when the merchant can accept bitcoin and other coins.

[metalglowd]

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down ?

[aad140386]

I do not know if I can agree with you. On the one hand, you are certainly right, but on the other hand, no. Of course, elite real estate or elite cars can now be bought for cryptocurrency, but what percentage is the total share of sales of elite real estate or elite cars. I mean, if only 5% of all retailers in real estate sell housing for bitcoins, then this is very small, and your choice will be limited. As for the car, the situation is exactly the same. If you want Mazeratti and you can only buy Lambo for bitcoins, then this is a limited choice, and this is bad. Only then can Bitcoin become the number one currency in the world when you can buy anything for it.

[Rmcdermott927]

I agree but it’s just a matter of time.   It’s like trying to get my grandparents to use an iPhone.  Small mom & pop shops don’t understand crypto and may never understand it.   It’s only a matter of time until that generation dies off and is replaced by more forward thinking people without a fear of technology. 

There are other issues when it comes to larger businesses.  Most of those issues are legal or liability issues and that will change in time as well when more precedent is set by people who already accept crypto. 

Rome was not built in a day, and in a timeline of modern history, bitcoin is barely a blip on the radar. 

It’s coming, it just may take a few more years or even decades until crypto is not only accepted, but preferred. 

[deisik]

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

[Sithawaka]

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

I agree with you many merchants are not using bitcoin because they haven't understand how Bitcoin can be use in businesses in a parallel way with fiat currencies with there core payment structure  without making a conflict between fiat currency transactions and crypto transactions but in reality if it is implemented properly in a company both fiat and Bitcoin payment transactions can be done to provide benefits to both customers and organizational stakeholders

[ASHLIUSZ]

You want to say that there is no demand no supply? Yeah, you can really spend bitcoin to buy ticket, book hotel, even football player was bought with bitcoin and if I remember correctly, one club was sold in bitcoins or something similar. But why just merchants can't integrate it? If nothing, they won't be in loss with this additional payment way. Maybe there isn't really demand but everyone here talks that they want it, in reality no one does anything to get what they want

So what is the real reason they want to integrate the blockchain payment system? won't it even disrupt the previous ecosystem that is already just works well like a charm. After those merchants integrated with bitcoin, Which one get the real benefits with this system ?
People when it goes up and no one when this goes down?

Why should it necessarily disrupt the previous ecosystem?

Technically, the two systems, i.e. a payment system based on Bitcoin and a legacy payment system based on fiat are not disrupting each other in any way. You, as a merchant, can integrate Bitcoin into your shop in addition to whatever you might already be using, and the two will live peacefully together. If anything, it gives consumers more choice provided they are actually going to consummate that choice (i.e. pay with crypto)

I agree with you many merchants are not using bitcoin because they haven't understand how Bitcoin can be use in businesses in a parallel way with fiat currencies with there core payment structure  without making a conflict between fiat currency transactions and crypto transactions but in reality if it is implemented properly in a company both fiat and Bitcoin payment transactions can be done to provide benefits to both customers and organizational stakeholders

Yes, people haven't known better about the use case of bitcoin. Stores accepting bitcoin don't sustain longer as it didn't yield a big revenue. Few of which were the Expedia, majority of the firms here depend on a third party service render. In most cases bitpay seems to be the best.

[virasog]

This is not about will they accept crypto or not, this is about what kind that might be a problem if they used it, Because at some country we know that crypto has regulation and also even forbidden to use it as payment. After all, these bubble are the most scariest stuff that make crypto avoided by merchants

High volatility can be definitely point out as an obstacle and it is the most significant reason why bitcoin haven't progress in businesses because it makes majority of Organizations and clients hesitate to combine there businesses or make payments with bitcoin because in a little time it can do a big profit loss but we should know high volatility of btc is the main reason why many investors are attracted to invest in it but also it scare merchants away from accepting it but if bitcoin doesn't get adopted into businesses with the help of merchants its path to become a global currency will be much difficult so I hope this will change due to its increasing popularity in the financial sector 

Yeah many merchant there prefer to pay through fiat or use paypal, causing the currency exchange rate to be stable, while if the merchant accepts bitcoin or other cryptocurrency as a payment tool it is likely that the trader can lose because the price of bitcoin often changes very quickly

I don't think so because merchants will watch the bitcoin price at the market and somehow, they will enter the market too as traders and they will considering that way will give them more profit. I think with many merchants will accept bitcoin as a payment, the rate of bitcoin will get stable because I think the merchants don't want to see the price fluctuate in often or very quickly. But hmm I wonder when the merchant can accept bitcoin and other coins.

Due to the increasing popularity of the bitcoins, merchants will have to accept it in any case and those who will ignore bitcoins will remain backwards in thier business.

[babysweetTiger0401]

Nowadays, there are few of the merchants who are accepting bitcoin and crypto as payment.
Perhaps, it will take more years before the majority would accept it. Because especially now the market was down, I think
lots of the merchants are afraid to risk their business on this matter.

[winer099]

I totally agree. The biggest fear is just adapting crypto. If people would trust it more, they would use it more so there would be no problem in using it in everyday life.

[michael23]

I agree with you. Only a small number of people are really interested in blockchain technology. Other use bitcoin to make a profit. Therefore, they are certainly not ready to give it.

[Yield7]

IF btc Will be more accepted on the Main Stream then the btc price Will Go Up.

the big guys Want to Get Crypto Under the table (otc)  just Before they make Crypto price high.

Once they got most of the Crypto then they are Happy to make it more mainstream.

This is what we need to Understood first

[eaLiTy]

And this is where we see Bitcoin being willingly accepted by providers of these services and suppliers of such goods. You can easily buy elite real estate, pay for the most exclusive sports cars, seduce your passion with most exquisite jewelries, and you can do all these things with bitcoins - provided you have enough of them, of course. In simple terms, when money talks bullshit walks. And Bitcoin is that money

So it is not about merchants at all

These are probably one off deals and it does not mean that they are accepting bitcoin for the rest, the elite customers can negotiate the deals on their terms if they are willing to pay more in bitcoin than the dollar rates and i am sure so is the reason they got these one off deals but that does not mean that they will be accepting bitcoin from everyone, surely money talks and that is what has happened here, merchant adoption means that everyone is able to spend the same coins and get those products and that is not the case here. People who accumulate wealth can dictate the terms but not everyone.

[hen cet]

Nowadays, there are few of the merchants who are accepting bitcoin and crypto as payment.
Perhaps, it will take more years before the majority would accept it. Because especially now the market was down, I think
lots of the merchants are afraid to risk their business on this matter.

In business traders make decisions that benefit them. Indeed, not all traders accept payments using bitcoin, for some reasons such as bitcoin is not recognized in the country, it is difficult for transactions, the internet is slow, etc.
But to change the perception of traders to be willing to accept bitcoin takes a long time and the role of government where bitcoin is not illegal.

[xWolfx]

IF btc Will be more accepted on the Main Stream then the btc price Will Go Up.

the big guys Want to Get Crypto Under the table (otc)  just Before they make Crypto price high.

Once they got most of the Crypto then they are Happy to make it more mainstream.

This is what we need to Understood first

Yes this is what we need to understand first i agree.

But we also have yet to understand that with the current mining rate still years left to buy relaxed. So it's better to take advantage of those because they won't come back ever again. Something to think of.

I personally use Bitcoin unless i got it in a high price and it dropped a lot even like this. It's just a matter of perspective. Just leave some money on the bank for emergency cases or you will lose a lot of money and they blame it on crypto like a lot of people do.

[Bitcoindigger02]

There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

[deisik]

And this is where we see Bitcoin being willingly accepted by providers of these services and suppliers of such goods. You can easily buy elite real estate, pay for the most exclusive sports cars, seduce your passion with most exquisite jewelries, and you can do all these things with bitcoins - provided you have enough of them, of course. In simple terms, when money talks bullshit walks. And Bitcoin is that money

So it is not about merchants at all

These are probably one off deals and it does not mean that they are accepting bitcoin for the rest, the elite customers can negotiate the deals on their terms if they are willing to pay more in bitcoin than the dollar rates and i am sure so is the reason they got these one off deals but that does not mean that they will be accepting bitcoin from everyone, surely money talks and that is what has happened here, merchant adoption means that everyone is able to spend the same coins and get those products and that is not the case here. People who accumulate wealth can dictate the terms but not everyone

I definitely see your point

And I can't say that I particularly disagree with it. However, while a small individual with empty stomach and holey pockets can't indeed dictate his terms (and in this you are certainly right), things change if there are many such individuals. In this case, it becomes essentially the same as one big wheel with deep pockets. Thereby, we still come to the same conclusion, i.e. it is the lack of sufficient demand that prevents merchants from fully embracing crypto

[EdenHazard]

There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

Have you remember a Chinese government effort to force its people to use Baidu to leave Google? has it succeeded? I do think not, Chinese people still use Google instead of Baidu. I guess this is the same as bitcoin now, you can use bitcoin even though the Chinese government provides many procedures to do it.

[AAKODI]

Merchants are not accepting bitcoin due to some kind of believe system or a mentality they are having regarding cyptocurrencies than the true reality because if some one deny bitcoin or any other altcoin due to a loss by trying them by adopting in there businesses it is acceptable but many doesn't do that and spread false information regarding bad side of cryptocurrencies for no reason so majority of merchants deny crypto for no solid reason but due to false rumors from media and the mentality or believe system that they have build according to those information

[kram31]

As long as there are no much regulation on the coin and cryptocurrency we will have a hard time to get more merchants to accept bitcoin on their market.
THey will be in trouble if they allow it, especially if the government is not allowing the use of cryptocurrency or bitcoin in their country.

[Sithawaka]

Regulations from governments has become a big problem for many merchants to avoid accepting Bitcoin because any organizations doesn't won't trouble from the low frame work in there country because it can be very bad for the progress and due to regulations and restrictions from government against crypto merchants think twice before accepting crypto so freedom from governments is a must for merchants to accept crypto

[deisik]

As long as there are no much regulation on the coin and cryptocurrency we will have a hard time to get more merchants to accept bitcoin on their market

In fact, it cuts both ways

As it depends on what kind of regulation is being enforced by the authorities. If the rules and regulations are not about banning crypto out of hand, but actually about making things clear and well-defined, i.e. about regulating it (as in Japan, for example), that would in fact make accepting cryptocurrencies easier. When the rules are clearly defined, merchants will always know where they stand in respect to cryptocurrencies and can act accordingly

[tbossmitche]

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins. A major reason why I believe that the users also are at fault is due to the fact that we are all just truly concerned about the profits we stand to gain by hodling and selling cryptocurrencies. This is sad considering the fact that we all claim to be looking forward to mass adoption of cryptocurrencies. The movement should start with us as individuals.

[deisik]

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

[Iamannie]

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

That is if they use payment processor like coinpayments, coinbase etc but some merchants who would rather partner with the merchant directly like XVG and other altcoins then they do suffer the volatility at its finest (or worst).

[iMark]

There is no need to pay in bitcoin in China. In China, our daily life is usually very convenient (Alipay) and (WeChat payment). If you want to pay Bitcoin, there will be one more procedure. As you all know, one more formalities, one more trouble.

Have you remember a Chinese government effort to force its people to use Baidu to leave Google? has it succeeded? I do think not, Chinese people still use Google instead of Baidu. I guess this is the same as bitcoin now, you can use bitcoin even though the Chinese government provides many procedures to do it.

The point is people will use what they think is more comfortable, Chinese people prefer Google because it is easier and wider network. so is bitcoin, which covers the entire world. I'm sure bitcoin will be increasingly used even though some countries and merchants still reject it

[deisik]

You do have a valid and strong point on this one. However, we cannot deny the fact that a lot of merchants still shy away from accepting cryptocurrencies due the uncertainty with crypto prices. No one really wants loose while holding on to some virtual coins

You definitely should read the thread

As I have explained on a few occasions already that volatility is not something that merchants should care about. In simple terms, merchants don't accept cryptocurrencies directly in general (some certainly do but they are few and far in between). Most merchants which are accepting cryptocurrencies as payment are still accepting fiat as before. It is payment processors which receive crypto from buyers and then covert it to fiat, and it is them who are dealing with volatility issues (i.e. not merchants)

That is if they use payment processor like coinpayments, coinbase etc but some merchants who would rather partner with the merchant directly like XVG and other altcoins then they do suffer the volatility at its finest (or worst

You may want to read the thread too

Merchants who choose to accept crypto directly can easily get rid of volatility through hedging (which I explained earlier as well). But it makes sense if you have quite a few consumers willing to pay with cryptocurrencies. If you don't, you'd better go with third party solutions like the ones you mentioned. Otherwise, you can use major exchanges like Bitfinex to open offsetting short positions and thus become invincible to volatility bursts

[mapanlah]

traders who want to receive krypto only exist in developed countries or countries that provide support facilities for buying and selling using crypto. but in a country that has not recognized crypto as a currency then if the merchant wants to accept crypto as a means of payment it will be a problem. because the government will take legal action against the trader.

[alonelyorange]

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

[OrangeII]

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

well, because of that, there are still many people who use crypto. that's the function of the exchanger. however, some people want to do direct transactions with crypto, and unfortunately there are still many traders who reject it, because it is not in accordance with the government regulations.

[Juggy777]

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

Hey this depends on who the merchant is and which country does he belong to, initially many were keen to accept it but due to their governments not approving bitcoins they don’t accept it now. Also I feel one should be careful when using bitcoins to pay sellers with zero reputation, here I would suggest you use PayPal. Hey Bitcoins cannot be banned or stopped governments do not have that kind of mechanism to stop it, they can only impose rules which can always be broken.

[Irvinn]

In my opinion, there is not even the willingness of sellers of goods to accept cryptocurrency. In my state, business structures do not do this, because the tax authorities are bombarded with fines. Business structures cannot violate the established rules, in case they switch to using cryptocurrency, they will have problems with reporting. Until the cryptocurrency is legalized by the state and there are no specific instructions from the tax authorities, business structures will be afraid to use cryptocurrency as a means of payment.

[gabmen]

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

Hey this depends on who the merchant is and which country does he belong to, initially many were keen to accept it but due to their governments not approving bitcoins they don’t accept it now. Also I feel one should be careful when using bitcoins to pay sellers with zero reputation, here I would suggest you use PayPal. Hey Bitcoins cannot be banned or stopped governments do not have that kind of mechanism to stop it, they can only impose rules which can always be broken.

Well we can't expect majority of sellers to have that much confidence in transacting in btc yet. This is a pretty new technology and people needs to have time to become familiar with it. Especially after the 2018 debacle that stripped confidence from new and would-be users. Give it time. It's inevitable that technology will be embraced by everyone.

[Yield7]

if all the merchants around the world Will start accept crypto then the Fiat currency Will lose value
if the Fiat lose value then how you are going to compare cryptocurrency price and value?

Right Now its btc to usd or any other Against usd/eur or other currency.

everything requires balance counter balance.
once this is fully worked out then crypto Will be accepted around the world.

[deisik]

Business structures cannot violate the established rules, in case they switch to using cryptocurrency, they will have problems with reporting. Until the cryptocurrency is legalized by the state and there are no specific instructions from
the tax authorities, business structures will be afraid to use cryptocurrency as a means of payment

They may still accept fiat as before

And at the same time they may allow their consumers to pay with crypto. It is possible by using third parties which accept crypto from buyers, then convert it to fiat and send fiat to sellers. In that way, sellers don't have to report their sales in crypto to tax authorities as from a financial perspective nothing has changed for them. But sellers won't go that route unless there is enough demand from buyers (to pay with cryptocurrencies)

[slackcryptoz]

What have to worried about some companies and merchants are not received bitcoin as payment transaction, you can withdraw your bitcoin asset become cash money. Always hope bitcoin is never banned as investing or trading on your country and support for withdrawing become cash money.

Hey this depends on who the merchant is and which country does he belong to, initially many were keen to accept it but due to their governments not approving bitcoins they don’t accept it now. Also I feel one should be careful when using bitcoins to pay sellers with zero reputation, here I would suggest you use PayPal. Hey Bitcoins cannot be banned or stopped governments do not have that kind of mechanism to stop it, they can only impose rules which can always be broken.

Upon the support from marketplace and the users willing to make an buying with bitcoin it is possible. As described in the quote for several reasons people have stopped accepting bitcoin within their own businesses. This will change when more governments around the world come up with legal support to the cryptocurrency usage.

[timerland]

I am struggling to understand what exactly you are referring to here. Are you talking about bitcoins value being limited by the lack of merchants willing to accept it? I mean sure, the technology being rather fresh and unknown to most people it's understandable that there isn't as widespread interest in accepting crypto as of yet. However, as you said, the more people desire to buy expensive products using bitcoin the more merchants will hear about this trend and decide to get in on the action.

There already are a wide array of luxury items you can buy using bitcoin, as an example, you are currently able to purchase a Lamborghini with bitcoin from certain dealerships. I've seen a lot of online stores sell expensive electronics and watches for crypto as well.

[deisik]

I am struggling to understand what exactly you are referring to here

Maybe, to merchants (allegedly) not willing to accept crypto?

Are you that dude who always has issues with understanding my posts? Or is it just your way of approaching someone or something? Regardless, this topic is about merchants being regularly accused of not willing to accept cryptocurrencies while in reality it is in fact more about consumers themselves not willing to part with their precious coins and pay with crypto. In other words, it is about confusing cause and effect (colloquially known as putting the cart before the horse)

[OlympianBitcoin]

And yet Bitcoin has become a part of our daily life. Want to buy pizza on a popular online food service? Bitcoin accepted. Want to pay your bills? In many places there are ways to do it with Bitcoin.

Just give it time. Who knows what happens next.

[princeyeboah]

I totally agree. The biggest fear is just adapting crypto. If people would trust it more, they would use it more so there would be no problem in using it in everyday life.

People are not afraid of the concept of cryptocurrency because the concept is clear and beneficial to all that uses it. People are not giving in to the adoption of Bitcoin and other cryptocurrencies because of the legal issues within their countries. Crypto and Bitcoin activities are banned in some countries and citizens of these countries will certainly fear to use Bitcoin.

[adil29]

The more we can increase the daily work of Bitcoin, the greater the acceptability of it, I agree with your words. But the biggest problem now is that many governments do not validate Bitcoin and Bitcoin prices are not elastic, due to which many businessmen or ordinary people like us are afraid to use them all the time.Bitcoin has been declared illegal in many countries.

[OlympianBitcoin]

Crypto and Bitcoin activities are banned in some countries and citizens of these countries will certainly fear to use Bitcoin.

Still, if there is a major crisis involved - won't people simply jump into BTC? It may be illegal or frowned upon but mass panic is something not be underestimated.

[Choyor]

The lack of full support from the government for cryptocurrency is one of the factors in the absence of business people involving Bitcoin in it, reporting coming from the government about Bitcoin will always be contradictory, it will greatly affect people's interest in involving Bitcoin into their business.

[angel55]

Stores would rather just accept credit cards.  Credit cards allow people to spend money that they don't have which means more sales for their business. Fraudulent chargebacks are rare and the option to chargebacks give customers a piece of mind that isn't achievable with bitcoin.

[BurgerCash]

In 2013 I convinced all my local stores and cafes that I frequented to use it. I bought hardware using bitcoin, I paid for coffee and cupcakes with bitcoin, etc.
Suddenly, it was supposed to be used only as a "store of value" and paying with bitcoin was seen as spam by everyone except Bitcoin Cash enthusiasts.
Why would anyone blame merchants for the situation, I feel embarrassed about ever recommending it. Bitcoin is only good for speculation now, and until $3000, shorting seems to be the right call.

[Argoo]

There are several reasons why sellers of goods do not want to accept bitcoins, and buyers do not want to pay for them. Sellers of goods are always subject to the payment of taxes from their commercial activities. They must report their profits to the tax authorities. If Bitcoin and other cryptocurrency are not legalized by the state, and most importantly, there are no corresponding instructions for both tax authorities and entrepreneurs on the use of accounting services, then sellers of goods may have problems with tax authorities.
On the other hand, buyers do not want to pay with Bitcoin, considering that over time the price of Bitcoin will soar very high and prefer to keep Bitcoins as a method of rapid enrichment.

[DigitalCyberius]

Very interesting point. If people aren't willing to spend their BTC, then why go through the trouble of setting up a system. It seems the majority of BTC acceptance is around Europe and the US: https://coinmap.org/#/world/19.14516820/13.00781250/2

Have a great day,
The Cyberius team.

[xvids]

There are some people who really doesn't want to use crypto for payment,
For example here in the Philippines there are so many things we could do with Bitcoin,
But we don't really want to use it to pay anything we want to hold it and wait till it pumps.

[Siren]

Now the main problem is bans from the governments of many countries. I think if this is legal tender, then many stores will accept cryptocurrency. However, Bitcoin still confirms transactions for a very long time.

What do you mean that “Bitcoin confirms transactions for very long time”?

When was the last time you use bitcoin for transactions?in 2017?lol bitcoin is now faster than ever and i dont think you have rights to say that


Government bannings only happens in some countries but not the majority so i guess its not that big effect for the merchants to accept crypto at all

[Teawhalee]

I totally agree , most times is not the fault of merchants because a lot of holders don’t offer them bitcoin as a payment option so majority of them are not even aware of it. And also a lot of FUD has been created which are making the merchants not to accept bitcoin as payment option. I belive everyone needs to play his/her own part to make this a reality by offering them the accept bitcoin , giving them orientation about it. This will go a long way to help us all

[1BTC EQUALS 1CAR]

These merchants are just really waiting for the mainstream adoption. They can't fight the new norm of the future which is cashless transaction using blockchain. They are also just doing what's right for their business for now so they can't risk accepting payments that can go down easily and we know that some small business needs exact auditing.

[rodel caling]

Merchant are affraid of the bitcoin volatility movement that's one of the reason why some merchant didn't accept bitcoin as mode of payment.
I think if bitcoin become regulated and control of their price normal like the same movement of dollar value we will easy bitcoin to use as payment anything they want to buy merchandise.

[deisik]

Merchant are affraid of the bitcoin volatility movement that's one of the reason why some merchant didn't accept bitcoin as mode of payment

That's hardly the case

As most merchants don't have to handle crypto payments themselves. It is a task for a third party called a payment processor. Anyway, if these prices are to stay (or grow in a steady and consistent way), the problem of extreme volatility should be greatly alleviated. In this manner, we could eventually see more consumers choose the cryptocurrency option. Ironically, then it will look like merchants caving in and starting to accept crypto payments (while it will be more like buyers pushing them)

[iMark]

These merchants are just really waiting for the mainstream adoption. They can't fight the new norm of the future which is cashless transaction using blockchain. They are also just doing what's right for their business for now so they can't risk accepting payments that can go down easily and we know that some small business needs exact auditing.

Yeah, don't worry about that, they will definitely follow the times, you don't have to force them to adopt bitcoin as payment.
they will automatically adopt bitcoin when crypto technology and digital currency are mainstream, be patient

[teejayrichard2]

In my own opinion, i think both bitcoin holders and merchants are guilty in this case. Most bitcoin holders buy bitcoin for the purpose of trading with it (buy when low and sell when high for profit) or just hold till price pumps for them to make profit. The few ones who use their bitcoin for purchases of goods and services send to merchants and other shops but when these merchants / shops receive it, they also hold the bitcoins too waiting for price to pump on it so the value doubles. At the end of the day both parties are just after keeping their bitcoins. The ideology of bitcoin is thus not be followed as we have all turned it to a money making pattern instead of using it for an easy transparent payment system which was the initial plan. People should spent their bitcoin and not just hodl.

[evanescence]

$0.50 fees which are only going to rise make onchain support impossible.
LN is not finished and not user friendly either.
Ethereum and Bitcoin Cash are fit for purpose, but they're not the #1 crypto.
So yeah, no wonder we're not seeing adoption.

[RareFortune]

These merchants are just really waiting for the mainstream adoption. They can't fight the new norm of the future which is cashless transaction using blockchain. They are also just doing what's right for their business for now so they can't risk accepting payments that can go down easily and we know that some small business needs exact auditing.

Yeah, don't worry about that, they will definitely follow the times, you don't have to force them to adopt bitcoin as payment.
they will automatically adopt bitcoin when crypto technology and digital currency are mainstream, be patient

On my country I see some merchants accepting Bicoins as payment but the problem is only few people know how to use Bitcoin and most of the time customer make a lot of questions to the merchant which take their time and there are some question that they can't answer so I think as a starter merchant should be knowledgeable in Bitcoin in order for them to explain the use of it to their customers.

[deisik]

The few ones who use their bitcoin for purchases of goods and services send to merchants and other shops but when these merchants / shops receive it, they also hold the bitcoins too waiting for price to pump on it so the value doubles. At the end of the day both parties are just after keeping their bitcoins

That makes no sense

You forget that merchants should have operating capital to support their daily operations in the business, and Bitcoin cannot be used for such a purpose yet. In this way, whoever of merchants actually accepts crypto, they have to convert it to fiat. Indeed, some of them can hold some bitcoins (as it is often the case with exporters and foreign currencies they receive) but the number of such merchants is infinitesimal and ultimately inconsequential simply because merchants themselves typically don't accept cryptocurrencies even if you can pay with them. It is the part which you missed in your assumption (or rather conjecture)

[Svelto]

Well, I think that there will be higher acceptable if there is a service to fit the gap by collecting Bitcoin from the user and paying fiat to the merchant. There won’t be any risk to the merchant in this case.

[DigitalCyberius]

Very interesting point. If people aren't willing to spend their BTC, then why go through the trouble of setting up a system. It seems the majority of BTC acceptance is around Europe and the US: https://coinmap.org/#/world/19.14516820/13.00781250/2

Have a great day,
The Cyberius team.

[Stac]

Bitcoin markets will recover soon and the price  of bitcoins will start to rise before 2020, there are more possibility for a huge leap in the crypto market like in 2017 o even more than that and the price of bitcoins could even cross $50000 USD which will make many new investors and merchants to enter the crypto currency market, so there is nothing to worry about the merchants not entering the crypto currency market even though it has been 10 years since bitcoins came into being it is still in its infancy stage and so time will take for more wider acceptance.

[Johnyz]

Merchant are affraid of the bitcoin volatility movement that's one of the reason why some merchant didn't accept bitcoin as mode of payment.
I think if bitcoin become regulated and control of their price normal like the same movement of dollar value we will easy bitcoin to use as payment anything they want to buy merchandise.

This can be a big loss for the merchants if the price of bitcoin falls, and the cost for them is very high. This is also why some merchants are still not accepting cryptocurrency because they are not yet ready for this kind of investment. Don't worry too much, the future is still with cryptocurrency they will accept later on if they are already confident to hold.

[richminded]

Very interesting point. If people aren't willing to spend their BTC, then why go through the trouble of setting up a system. It seems the majority of BTC acceptance is around Europe and the US: https://coinmap.org/#/world/19.14516820/13.00781250/2

Have a great day,
The Cyberius team.

Yes, but Asia are now showing more interest on Cryptocurrency despite of the bans before, we will see a more great places to see cryptocurrency on different businesses. The major problem here is the volatility and too much manipulation, if an active business who generates profit daily accept cryptocurrency as mode of payment the tendency for the value of that coin to dump is very high, this is the concern i think.

[hen cet]

Merchant are affraid of the bitcoin volatility movement that's one of the reason why some merchant didn't accept bitcoin as mode of payment.
I think if bitcoin become regulated and control of their price normal like the same movement of dollar value we will easy bitcoin to use as payment anything they want to buy merchandise.

If crypto becomes a digital currency that is legal and its stability is quite good, of course more merchants will receive payment. This is the desire of all crypto users who want to see transactions in the world using a peer to peer system.
However, there are still many problems that must be resolved by Krypto to be accepted by many merchants, where the 2 main points are, namely the state declares legal and the  stability is maintained so there are no price fluctuations that make crypto owners panic.

[MakeMoneyBtc]

Well, I think that there will be higher acceptable if there is a service to fit the gap by collecting Bitcoin from the user and paying fiat to the merchant. There won’t be any risk to the merchant in this case.

There already exist a lot of services like that where merchants can accept bitcoin as a payment method method. Some of the best ones are Bitapy, Stripe or Authorize. They already have thousands of merchants all around the world accepting bitcoin but the problem is most merchants accepting bitcoin are working only online.

[Sithawaka]

Of course there are many merchants around the world who accept Bitcoin and Regulations from governments was a big problem for Bitcoin to progress through adoption because any organizations doesn't wanted trouble from the law in there country because it can be very bad for the progress of businesses but even this condition seems like changing because unlike in the past major governments like Japan, Switzerland and many African countries have started to keep an open mind regarding Bitcoin and other crypto so merchants will definitely change there mind and accept crypto in the future 

[Mrsparks]

I don't completely share the sentiment of this post.. In my opinion bitcoin to be precise does not really fit for payment processing. We have other blockchain projects that are better suited for that purpose with diverse partnerships that give allow them give more financial services than the bitcoin.Truth is if I where a merchant I might never accept bitcoin also because of the absence of the developer( anyone knows where satoshi is lol),  and pick other better suited blockchain projects

[Darker45]

There are several factors involved. For merchants, it is not only the fact that some of them do not accept crypto. There are in fact reasons for which. The volatility of the coin is an issue. The legal policies and regulations existing in their countries are also an issue. Perhaps, awareness is an issue even. For the buyers, there are also certain considerations. As far as I am concerned, I can easily and am actually spending my BTC but definitely not on expensive stuff such as cars. I have a limited amount of it and I am certainly guilty of keeping them for future growth. HODLing may indeed hurt the continuous adoption of Bitcoin in the world. But for now I am accumulating more than I spend.

[deisik]

Well, I think that there will be higher acceptable if there is a service to fit the gap by collecting Bitcoin from the user and paying fiat to the merchant. There won’t be any risk to the merchant in this case.

There already exist a lot of services like that where merchants can accept bitcoin as a payment method method. Some of the best ones are Bitapy, Stripe or Authorize. They already have thousands of merchants all around the world accepting bitcoin but the problem is most merchants accepting bitcoin are working only online

I'm not sure how you suppose to use cryptocurrencies offline

Other than that, you can still use Bitcoin payment cards in pretty much the same way as regular bank cards if this is what you meant. If you actually mean using cryptocurrencies in the same way as cash (i.e. coins and banknotes), I don't think it is possible unless we are to use "paper" coins (for example, bitnotes). However, it will likely be against the whole idea behind crypto (though things may change with LN expansion and universal adoption)

[Sum24]

I don't completely share the sentiment of this post.. In my opinion bitcoin to be precise does not really fit for payment processing. We have other blockchain projects that are better suited for that purpose with diverse partnerships that give allow them give more financial services than the bitcoin.Truth is if I where a merchant I might never accept bitcoin also because of the absence of the developer( anyone knows where satoshi is lol),  and pick other better suited blockchain projects

Not only a way of sending money but also a way to store your money for long term, it is really good because it is being acceptable by all traders and merchants, it is safe to pay without any cutting and extra charges, those project who are not ready to accept bitcoin must be of low quality and still not well developed.

[freedomgo]

I don't completely share the sentiment of this post.. In my opinion bitcoin to be precise does not really fit for payment processing. We have other blockchain projects that are better suited for that purpose with diverse partnerships that give allow them give more financial services than the bitcoin.Truth is if I where a merchant I might never accept bitcoin also because of the absence of the developer( anyone knows where satoshi is lol),  and pick other better suited blockchain projects

Not only a way of sending money but also a way to store your money for long term, it is really good because it is being acceptable by all traders and merchants, it is safe to pay without any cutting and extra charges, those project who are not ready to accept bitcoin must be of low quality and still not well developed.

Bitcoin is still young, the adoption is not bit enough, though we have some merchants that are already accepting it but it's just a small percentage of the total number. We will see some good development in the long run and bitcoin price volatility will not be a problem anymore.

Those who are adopting early might get the benefit of having it as an investment also as of now, most merchants are also investors IMO.
They help on the adoption and they should benefit of their contribution and that will only happen when value increases.

[kelz1]

It's probably due to the extra work involved in converting them into fiat. As bitcoin becomes more easier to spend more merchants will accept it so they won't have to worry about the conversion

[Bunsomjelican]

Well, I believed in the near future crypto will be accept by each country, depending on the usages and why they need to use it. Just like for example before there are some countries who banned Bitcoin but in a long run they revoke it then in the end they've accepted it too and now they are one of the digital currency enthusiast. And as far as I know there are already several merchants nowadays that already adopted and accepted it as their mode of payment just like Ethereum, Litecoin, and more.