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[shield132]

Hi guys, as I see there is a lack of something new but at the same time maybe everything new is well forgotten old. Somehow I haven't seen any thread about bitcoin pawnshops. No one wants to work on this project or aren't pawnshops popular in where you live? All of you want ebay/amazon like service with bitcoin payment but what about to launch local pawnshop which will accept bitcoin payments?
I created this thread to discuss around this subject (if you had one without success or etc). Share your opinions and experience if available.

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[hatshepsut93]

What do you mean accept Bitcoin payments? Like pawning Bitcoins? What exactly the point of it if you can just send them to exchange, sell as much as you need, and buy back later when you get more money. Pawning exists for turning illiquid items like jewelry and gadgets into loans, there's no need for it with Bitcoin because it is quite liquid.

[posi]

Hi guys, as I see there is a lack of something new but at the same time maybe everything new is well forgotten old. Somehow I haven't seen any thread about bitcoin pawnshops. No one wants to work on this project or aren't pawnshops popular in where you live? All of you want ebay/amazon like service with bitcoin payment but what about to launch local pawnshop which will accept bitcoin payments?
I created this thread to discuss around this subject (if you had one without success or etc). Share your opinions and experience if available.

Although, pawnshops is not popular in the area where I live and pawnshops accepting Bitcoin payment will definitely boost the price the price of Bitcoin in the market but I personally don't see any reason why I l make use of pawnshops when I can get everything I wanted through an online crypto store which you presume.

[joniboini]

Although, pawnshops is not popular in the area where I live and pawnshops accepting Bitcoin payment will definitely boost the price the price of Bitcoin in the market but I personally don't see any reason why I l make use of pawnshops when I can get everything I wanted through an online crypto store which you presume.

Bitcoin price won't skyrocket if there is a new shop that says they accept Bitcoin. Just like what you said: there is no reason to use them if you can buy it online. So to reach a point where new shop accepting Bitcoin can increase the price, the shop must be massive and there are a lot of users who would love to use Bitcoin instead of their usual fiat payment.

I personally only use Bitcoin to pay for my Mega subscription.

[posi]

Although, pawnshops is not popular in the area where I live and pawnshops accepting Bitcoin payment will definitely boost the price the price of Bitcoin in the market but I personally don't see any reason why I l make use of pawnshops when I can get everything I wanted through an online crypto store which you presume.

Bitcoin price won't skyrocket if there is a new shop that says they accept Bitcoin. Just like what you said: there is no reason to use them if you can buy it online. So to reach a point where new shop accepting Bitcoin can increase the price, the shop must be massive and there are a lot of users who would love to use Bitcoin instead of their usual fiat payment.

I personally only use Bitcoin to pay for my Mega subscription.

I said there's no reason in using it since I'm use to online shopping and pawnshop integrating Bitcoin payment won't hurt. Although, it might make bitcoin skyrocket now but it will sooner or later cause there will be a chance for more local business owner to accept bitcoin as payment because Mr A which integrated the Bitcoin payment will definitely have more customer and the people which they are both in the same business will also do the same thing once they see Mr A business growing just like it happened in Japan a couple of years back.

[CryptoBry]

Although, pawnshops is not popular in the area where I live and pawnshops accepting Bitcoin payment will definitely boost the price the price of Bitcoin in the market but I personally don't see any reason why I l make use of pawnshops when I can get everything I wanted through an online crypto store which you presume.

Bitcoin price won't skyrocket if there is a new shop that says they accept Bitcoin. Just like what you said: there is no reason to use them if you can buy it online. So to reach a point where new shop accepting Bitcoin can increase the price, the shop must be massive and there are a lot of users who would love to use Bitcoin instead of their usual fiat payment. I personally only use Bitcoin to pay for my Mega subscription.

Maybe it can be better if the pawnshop will be using Bitcoin for its customers instead of the usual fiat money. This means that anybody can bring anything of value (like jewelries, watches and maybe even appliances) to be pawned and instead of getting fiat it will be Bitcoin that one can receive. Or the pawnshop can also offer Bitcoin both buying and selling in the premises. I am not sure though if there can be special permit for this type of business.  The possibilities can be endless the only problem is if there can be a market for this and whether it can be sustainable.

[Harlot]

Wouldn't this be a useless idea? People pawning their items wants real time cash on hand. If they transact online to pawn their items for BTC then the transaction would be longer since they still need to ship the item to to the pawnshop in order for it to be appraise and be given an offer which would be a longer discussion if prices aren't reached compared to just visiting a local pawnshop near you. We do have BTC loans online and this has been more successful since you don't need to give anything aside from other collateral not relating to jewelries or other valuables.

[LeGaulois]

It existed in my country but long ago. People are looking to borrow money to get cash, not bitcoins. If they do it it's because they may have a financial problem, that can happen to everyone, and so they need money. Bitcoin won't help because we can't pay the supermarket with bitcoins we can't pay a bill and so on. But if a day Bitcoin is massively used why not

[Chikitita2004]

It existed in my country but long ago. People are looking to borrow money to get cash, not bitcoins. If they do it it's because they may have a financial problem, that can happen to everyone, and so they need money. Bitcoin won't help because we can't pay the supermarket with bitcoins we can't pay a bill and so on. But if a day Bitcoin is massively used why not

I think you are pertaining to lending shops or company? Pawnshop is different, you will need to pawn something like jewelries, appliances or something of good value in exchange for money but it is with due dates and and interests and you will have to redeem your pawned items in due time or else they will put interests on it and later on you will no longer be able to redeem it. But with OP's idea, I was wondering if it is bitcoin for lending or pawning something to get paid in bitcoin or pawning bitcoin for fiat. 

[rijaljun]

I have ever seen this kind of project but I can't remember which one. The system is the same, ones could pawn something and get what they need. Everything is done through blockchain to ensure the accountability. But it's not really popular, people know more about lending and loans but not with pawning.

[crwth]

It’s a good idea. It’s also nice that there are those still considering local pawnshops as innovation. We always have to find the value of bitcoin is unstable, that it’s ever-changing like when you exchange your currency. If we can adapt that to local pawnshops to teach them, it would open new doors for us, bitcoin users. Plus everything’s going to be in a paperless transaction though I think the process of pawning will take longer than usual, at least we’re taking a step forward towards the future. I’m interested in this topic. I hope one day, we’ll be able to have this option worldwide.

[CryptoBry]

I have ever seen this kind of project but I can't remember which one. The system is the same, ones could pawn something and get what they need. Everything is done through blockchain to ensure the accountability. But it's not really popular, people know more about lending and loans but not with pawning.

When an idea is lacking the support of the market usually even if the idea can be attractive it will just a natural death. The idea of pawning anything and in exchange one can get bitcoin can be good but implementing it can be so hard because pawnshops are usually community-based and it can be hard to bring it online. Maybe we can instead go for a marketplace where can sell anything (just like the eBay set-up) and in exchange instead of cash the buyer has to pay what he wanted with bitcoin...I think this can be workable especially if there is a bull run like what we have now. People who don't have bitcoin can sell anything that they can dispose in exchange for cryptocurrency.

[rijaljun]

I have ever seen this kind of project but I can't remember which one. The system is the same, ones could pawn something and get what they need. Everything is done through blockchain to ensure the accountability. But it's not really popular, people know more about lending and loans but not with pawning.

When an idea is lacking the support of the market usually even if the idea can be attractive it will just a natural death. The idea of pawning anything and in exchange one can get bitcoin can be good but implementing it can be so hard because pawnshops are usually community-based and it can be hard to bring it online. Maybe we can instead go for a marketplace where can sell anything (just like the eBay set-up) and in exchange instead of cash the buyer has to pay what he wanted with bitcoin...I think this can be workable especially if there is a bull run like what we have now. People who don't have bitcoin can sell anything that they can dispose in exchange for cryptocurrency.

This pawnshop must have its physical shops where everyone can visit, and not to completely operate online. People will come with something to pawn in exchange for crypto. Then the information about due date, interest, amount to be paid will be shown through an online account. That will help people to always be informed though.

[suzanne5223]

I have ever seen this kind of project but I can't remember which one. The system is the same, ones could pawn something and get what they need. Everything is done through blockchain to ensure the accountability. But it's not really popular, people know more about lending and loans but not with pawning.

When an idea is lacking the support of the market usually even if the idea can be attractive it will just a natural death. The idea of pawning anything and in exchange one can get bitcoin can be good but implementing it can be so hard because pawnshops are usually community-based and it can be hard to bring it online. Maybe we can instead go for a marketplace where can sell anything (just like the eBay set-up) and in exchange instead of cash the buyer has to pay what he wanted with bitcoin...I think this can be workable especially if there is a bull run like what we have now. People who don't have bitcoin can sell anything that they can dispose in exchange for cryptocurrency.

This pawnshop must have its physical shops where everyone can visit, and not to completely operate online. People will come with something to pawn in exchange for crypto. Then the information about due date, interest, amount to be paid will be shown through an online account. That will help people to always be informed though.

I dont know if there's online pawnshop and I never search for any online but all the pawnshop I know are physical shops and this why I will buy the idea said by OP cause pawnshop implementing bitcoin payment system will always promote more crypto currency users and adoption.