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Irvinn
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February 20, 2019, 07:02:59 AM |
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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.
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"Governments are good at cutting off the heads of a centrally
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gabmen
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February 20, 2019, 04:18:15 PM |
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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. |
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Yield7
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February 24, 2019, 02:54:10 AM |
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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.
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deisik (OP)
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February 24, 2019, 06:49:52 AM |
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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) |
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slackcryptoz
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February 24, 2019, 09:12:35 AM |
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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. |
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timerland
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March 07, 2019, 09:53:36 AM |
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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.
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deisik (OP)
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March 07, 2019, 10:17:04 AM |
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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) |
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OlympianBitcoin
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March 07, 2019, 10:22:12 AM |
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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.
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princeyeboah
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March 07, 2019, 10:27:20 AM |
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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. |
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adil29
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March 07, 2019, 10:41:09 AM |
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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.
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OlympianBitcoin
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March 07, 2019, 10:43:52 AM |
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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. |
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Choyor
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March 07, 2019, 12:31:45 PM |
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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.
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angel55
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March 07, 2019, 12:43:24 PM |
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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.
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BurgerCash
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March 07, 2019, 03:16:29 PM |
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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.
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Borderless trading with the Jarvis Exchanges.
Buy Apple stocks with Bitcoin. Jarvis.exchange (http://Jarvis.exchange) |
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Argoo
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March 07, 2019, 08:47:43 PM |
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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.
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DigitalCyberius
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March 08, 2019, 05:16:16 AM |
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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. |
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xvids
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March 08, 2019, 05:39:33 AM |
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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.
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Siren
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March 08, 2019, 06:02:35 AM |
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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 |
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Teawhalee
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March 08, 2019, 06:21:44 AM |
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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
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1BTC EQUALS 1CAR
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March 08, 2019, 11:50:54 AM |
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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.
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