Bitcoin's acceptance in the World

[stadus]

This is risky if a certain company is not good in minimizing the risk, they have to understand that bitcoin is a high volatile asset and they should have all the measures needed to continue their business. However, I still think that having a 3rd party who are really good or specialize in crypto would help them if they plan to accept bitcoin as a payment, in the long run, more continue will also be offering that service as I believe that's the only solution since bitcoin will always remain volatile, regardless of how big the adoption is already.

with fix supply and market is full of speculation, high volatility will always be the result.

[ReiMomo]

Well, if bitcoin volatility will decrease I think investors will also decrease because most of the bitcoin enthusiasts really want the volatility of bitcoin price in order for them to be able to have profit on trading short term or long term, and it and be able to get rich as well and that's the only way they can be able to achieve it because when the price drop down they will invest more and sell when the price double or triple it's value. Sometimes I am thinking about the whale who can able to manipulate the market.

[doomistake]

There are ways to do so that even if you accept bitcoin you wont end up losing. The strategy is to use a wallet wherein there is bitcoin to dollar conversion, possibly an app. An app which shows both buy and sell value. Here in the Philippines we usually use coins.ph and when merchants accepts bitcoin payments those bitcoin will be converted to peso once it entered coins.ph. It is very user friendly but its just that people are more on using fiat currency and that is why though this app has a good feature for merchants only a handful of merchants are using it.

That doesn't change the fact that they are going to lose their thier profits in Bitcoin, I got your point but my point here is, if someone buys a product on a company that cost 10 BTC (let's just say), then it is going to take some time before the company could receive it, and bitcoin's price could either go up or go down in that time where confirming transactions to receive that 10 BTC, lucky for that company if it goes up, but what if its goes down, it is not the problem if they are going to hold it (I wish they would)

But companies will not do that because they need funds on making their products, and they can't risk it on using bitcoin as a payment as of now, maybe later (when the Government implemented it nationwide).

[Youghoor]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be  a major step ahead.

In as much that Bitcoin has volatility issues, it will barely affect the use of it as a payment method in shops. This is because, the price of the item in bitcoin will be adjusted anytime there is a change in the market value of Bitcoin.  And personally, I don't really think the volatility of bitcoin will be a problem when it is accepted worldwide. When this is achieved, the rate at which the market price of bitcoin changes might not be huge as before. It might have some level of stability once it is widely used around every part of the world.

[airdnasxela]

It's based on the entities on how are they going to handle their profit. They could just convert it as soon they receive the payment to avoid losing profit.
Bitcoin can be accepted globally but it still depends on the entity, especially those bigger company if they're going to adopt bitcoin as payment method when crypto is not even in the nature of their business. It may be a big risk for every entity but bitcoin can be their other investment for them to gain more profit.

[Pearls Before Swine]

This isn't really an issue for merchants, since most of them use payment processors like Bitpay.  When they do, the merchant receives the fiat equivalent of the going rate for bitcoin at the time of the transaction.  Volatility therefore doesn't affect the merchant.

The larger issue is volatility in the potential purchaser's wallet, and that should be obvious to anyone who's ever owned bitcoin.  Bitcoin's value can jump dramatically overnight, as op pointed out and when that happens people don't want to spend it on anything.  That's an undeniable issue with any crypto, and unless and until bitcoin's volatility calms down it won't be spent for goods and services. 

Then again, if there was no volatility bitcoin would be no better than a stable coin, and I don't think anyone wants that.

[1Referee]

This is why there are centralized players in the market that you can use as merchant to not be subjected to the volatility risk. All the risk of the volatility is now the responsibility of centralized payment gateways, which on their turn hedge the risk of the price going down by shorting a portion of their coins. The more people pay with their coins, the more centralized payment gateways will short.

I honestly don't find there being much of a problem. Volatility has been a big thing for many years now, and it hasn't lead to less merchant adoption at all. In fact, today there are more merchants accepting Bitcoin than ever before. Not just some online shops, but big household names, and it will continue to grow.

Interesting development is that merchants found out that announcing support for Lightning payments leads to more traffic being drawn to their site.

[ILuckyGuyI]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be  a major step ahead.

I don't think that Bitcoin will be used as local currency because of its high volatility in the future. Stable coins may have more chance on this. Even though Bitcoin won't be local currency, it will be much more powerful compared to now and it will be one of the best options.

[pawanjain]

If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

There's were you are going wrong mate. The mere fact that people are still pairing it's value to USD is where people are taking it all wrong.
The goal is to use BTC while deriving it's own value and not comparing it to USD. If you buy a meal for 0.0005 BTC today then tomorrow it should be the same 0.0005BTC and not $4 USD. If we keep using BTC and don't compare it with fiat at all then there is no volatility at all !!!

[Dreamr]

The major reason why there is huge volatility in the bitcoin market is that there are a small number of people to stabilize the market. The more people we have in the cryptocurrency market the less volatility we can have. Once bitcoin gets mass adoption by the people we can have a stable market.

[joinfree]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

That's right, volatility of bitcoin is a great hindrance to the global acceptance of it but i guess such companies can always convert their bitcoin to stable currencies such as tether. But i guess they all want to make profits when bitcoin rises so why complain when the market crushes lol.

[Hypnosis00]

That volatility risk issue is one thing that makes establishments owners in hold regarding Bitcoin's acceptance as another more of payment, and we can't deny that. It actually nobody is forcing them to accept the way it was and that makes them also to ignore crypto. The massive adoption of Bitcoin as we observe is not just because of currency acceptance but in more investment outlook.

[DatKing]

First of all, Bitcoin adoption is needed to be increased. It is not just related to Bitcoin's volatility. It is also related to Bitcoin's different structure compared to fiat currencies. Governments always want to have control on the money. If they come across a system that they lost full control, they don't prefer it.

[ololajulo]

This is not a new problem and this got no solution for bitcoin because bitcoin will never hold a single price for even a hour.

[deadsilent]

If they don't want any risk, then they should not use Bitcoin. Use dollar instead. Volatility, we know it's the major problem regarding to cryptocurrency. There is no way this will go away because most of Bitcoin supplies are kept by whales.But if I were the company, why would I sold my Bitcoin at a lower price? That's absolutely a loss. But when it comes to rewards, 2x,3x and even 10x the profit you could get from holding Bitcoin and other cryptocurrencies. The higher the risks the better reward.

[StayFly]

For bitcoin to get worldwide acceptance we are going to need global regulations on cryptocurrency to tackle the problem of price volatility. Without proper regulations on cryptocurrency, the bitcoin and altcoins can never get accepted worldwide. Many countries now ban bitcoin due to a lack of proper regulations.

[Beparanf]

Accepting bitcoin as a merchant shouldn't pose any threat, a wallet that has either a stable-coin or fiat/bitcoin conversion wallet should be considered if one fears volatility, and the price should be locked over some time to ensure a fall in the price of bitcoin doesn't affect the merchant.

Locking bicoin is impossible as it is made to be decentralized and its being volatile is part of it , the better option for the merchants is to only accept stable coins so the amount will be still around the value paid which is only applicable if the merchat knows how to trade, if not then it might still be a hassle plus the fees needed in transactions.  Only merchants who understands BTC importance in having easy transactions despite being volatile can consider BTC.

[Ailmand]

One of the reasons why most people like bitcoin is due to its volatility. People earn profit from bitcoin since the price is not stable and difficult to speculate. In case of adaptation, it will come naturally and who knows time will come bitcoin will be used as a medium of exchange and the price will not be that volatile as it is today once mass adaptation occurs and when it is used more as an alternative payment not an investment tool.

[blckhawk]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".
In the near past we have seen Bitcoin dropping more than 15% in a matter of 3-4 hours. And there are a number of cases in the past like this.

This property is too much dangerous for any entity which is holding Bitcoin. If a company sells products/services of 10000$ and receive payment in Bitcoin, and bitcoin loses 10% in one day then basically company has lost 10% worth of their products.

Scenarios where gross profit margins of the companies are less, this property makes nearly impossible to accept payments in Bitcoin. If volatility of bitcoin is decreased in the future, it would be  a major step ahead.

This is true, but only if you hold bitcoins. Companies can still use it to accept payments, but only if they develop a system that would instantly convert bitcoin to fiat. For example, instead of paying through kiosks or other methods of payment for a specific bill or service, which often includes high transaction fees depending on local banking policies, consumers could pay to a bitcoin address of the company on exact amounts, without requiring that much fee since there are no intermediary except your wallet service provider. After the transfer is complete, it would automatically convert it to fiat to prevent volatility loss.

TLDR; It can still be a mode of payment if not holded as bitcoins. Fiat would still be the basis of value, but the mode of transfer is through bitcoins (depends on $ to BTC conversion at the moment of purchase), and then instantly converting BTC to $, to avoid fees of banks.

[xiboothrezi]

Well, if bitcoin volatility will decrease I think investors will also decrease because most of the bitcoin enthusiasts really want the volatility of bitcoin price in order for them to be able to have profit on trading short term or long term, and it and be able to get rich as well and that's the only way they can be able to achieve it because when the price drop down they will invest more and sell when the price double or triple it's value. Sometimes I am thinking about the whale who can able to manipulate the market.

Because volatility is an opportunity although most people consider it a risk, on the contrary, for those who understand the techniques of analysis and market movements it is a very good opportunity to take profit. There are risks, because the analysis sometimes misses. Whales, market makers, people who are very influential, might consider this like a game

That is why I always say that bitcoin is not suitable as a means of payment. It can be used, but I think it is a waste, because bitcoin is more effectively used as an investment tool and commodity trading.