Bitcoin's acceptance in the World

[HammadAli]

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.

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[Mandoy]

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.

[lionheart78]

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.

And what if the scenario is the opposite, then the company profited 10%.  The high volatility of Bitcoin had been known for years.  And this is not a huge problem for business establishment because they can auto convert the Bitcoin payment to cash if they are too afraid to loss some percentage value.  And from this, several third party platform thrives.  So basically, this volatility serves as an opportunity to other company to take profit of the booming market of Bitcoin while protecting merchants from Bitcoin's insane price fluctuation.

[Red-Apple]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility".

despite what it may feel like to you, this is not something new. as long as bitcoin existed, it has been volatile and if anything this volatility is reducing even if it doesn't look like it.
 for example the big drops or similarly the big rises have been bigger in early years compared to today.

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.

it goes both ways though! if they sell and when price goes up 10% they gain 10% profit out of nowhere!

we can discuss this here forever but the only thing that matters is that people continue using bitcoin as payment, companies accept it as payment,... and it is all growing while everyone is well aware of the volatility!

[Oasisman]

Most people prefer Bitcoin as a store of value rather than a medium of exchange.
Now, If you're talking about the downside of Bitcoin as a mean of currency to purchase to a specific merchant because of its volatile nature, then probably you dont need to overthink about it since there were already tons of merchants who accepts Bitcoin as a mode of payment.
Merchants wont necessarily keep the currency in Bitcoin form, ofcourse they can opt to exchange It to their local fiat currency or hold inside their wallet.

[cr1776]

At some point in the future - perhaps another 1 or 2 orders of magnitude in fiat price - bitcoin will stabilize and it will become much more prudent to use in commerce.  Personally, if someone wants to pay me in bitcoin today, I am fine with holding it and using it.  Never transferring to to fiat is the goal.

The people using it as a store of value today will in all likelihood be well rewarded while we get to the point of stability in fiat terms.  Or it will implode and be worthless, however, that likelihood decreases by the day.

[BonfireBob]

If you're accepting bitcoin, you know the dangers. And it is not for everyone, as only larger and financially strong companies can risk this.
That's why bitcoin is what it is, the highs and lows make it more interesting and effective when trading.

[ChrisPop]

Until Bitcoin becomes a more stable currency I think the best solution for companies is to use a payment processor that instantly exchanges the Bitcoin they receive for the products or services they provide. As Bitcoin raises in value and become more stable and the adoption raises companies could start doing all their day-to-day transactions denominated in BTC just as they do now with fiat. It has been proven that higher liquidity in the market correlates with lower volatility. To achieve that we need more institutional investors in the market and I am confident that slowly we will acquire that.

[Macadonian]

At some point in the future - perhaps another 1 or 2 orders of magnitude in fiat price - bitcoin will stabilize and it will become much more prudent to use in commerce.  Personally, if someone wants to pay me in bitcoin today, I am fine with holding it and using it.  Never transferring to to fiat is the goal.

The people using it as a store of value today will in all likelihood be well rewarded while we get to the point of stability in fiat terms.  Or it will implode and be worthless, however, that likelihood decreases by the day.

I would not say it decreases by the day it depends on your view of the up and coming issues that we will have to face. Hard forks have caused instability and months of recovery on Bitcoin price and unfortunately as Bitcoin adoption increases the bigger of an issue hard forks become. If we were to have mass adoption before the quantum computing changes that will be required in a couple of years it could have an effect on future adoption by convincing those that have already adopted that its not a stable currency and to exit out of cryptocurrency. Ideally we need to go through the process of dealing with the looming issues in the coming years and then start having the mass adoption.  

[CLS63]

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 agree with you on the volatility issue of Bitcoin. I think that is one of the important factors that is like a hindrance on the adoption of Bitcoin by governments. If the volatility will be decreased somehow, there will be some consequences of it. Maybe we will never see Bitcoin on a bull run and it will turn into a coin like stable coin.

[Capt00]

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.

And what if the scenario is the opposite, then the company profited 10%.  The high volatility of Bitcoin had been known for years.  And this is not a huge problem for business establishment because they can auto convert the Bitcoin payment to cash if they are too afraid to loss some percentage value.  And from this, several third party platform thrives.  So basically, this volatility serves as an opportunity to other company to take profit of the booming market of Bitcoin while protecting merchants from Bitcoin's insane price fluctuation.

It’s actually a win win situation, yes it is true that if the company who accepted bitcoin as a payment will lose 10% worth of products if the value decreases but it is the same when the price rises and if they got lucky they can profit more than 10% depending on the price of bitcoin. Based on my observation the acceptance of bitcoin is relatively increasing which only means people are now starting to fully understand the system of bitcoin and that they are now realizing the possibility of having financial freedom through bitcoin.

[coin-investor]

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.

The rewards are much higher than the risk, there is a risk that it could go that way going down 10% of the value of the product or services, but there is also a possibility that rewards could go higher and it could be much higher the last week than the previous lost, it's something that every merchant should understand, and so far the drop in the price for the past months are not going 10%, merchants should accept the volatility of the market, because the rewards outweigh the risk.

[Darker45]

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 has been acknowledged countless of times already. This is perhaps the main reason why Bitcoin adoption among merchants as well as users is somehow considered stunted. It is hard to imagine for example that Laszlo Hanyecz paid 10,000BTC for just a couple of pizzas not too long ago. Today, that amount in Bitcoin could let you construct a huge mansion it will take days to roam around. That is the reason why people will not spend Bitcoin. After all, it is very possible that the Bitcoin amount you are using to buy a pair of sneakers could let you buy a car in just a year's time.

[Shasha80]

Bitcoin's acceptance in the world is not as easy as we think, there are many factors that make bitcoin unacceptable to the world.
Especially the most often a debate about the price of its volatility. With prices that tend to be volatile there must be regulations
governing this. But not all merchants or companies debate on this issue, there are several a company that does not mind the
bitcoin price related to volatility. Because the solution is possible after receiving payment via bitcoin can be directly converted to fiat.
That's the best solution in my opinion, now we look forward to whether it is true bitcoin will be accepted globally.

[Willitivity]

Everyone has always hinted on volatility to be the reason hindering Bitcoin's adoption on a wider scale. That's not actually a barrier per say, the volatility can too either way and you gain more. Bitcoin as a means of exchange is much feasible than as store of value. In a practical approach, one can easily handle the volatility by moving your Bitcoin to USDT or fiat, if you feel it is going to drop.

[CryptoBry]

There is a major issue which is becoming resistance in the way of Bitcoin to be accepted globally and it is its "Volatility". 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.

We know that volatility is one of the best known hallmarks of Bitcoin and this can working good for people who are into trading and speculation, more risks more rewards they reasoned. Now, for merchants, this wild volatility can be a big headache but there are now ways this can be mitigated. There are now platforms offering merchants the service of converting the Bitcoin on-time so that the merchants can be spared of the yo-yo movement. During extreme volatility, it is actually the buyers that can be facing some problems especially if the buyer is also into speculation. The thing is that volatility can be working for us depending on which its direction is, north or south meaning up or down.

[Lizzylove1]

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.

[bhabygrim]

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.

And what if the scenario is the opposite, then the company profited 10%.  The high volatility of Bitcoin had been known for years.  And this is not a huge problem for business establishment because they can auto convert the Bitcoin payment to cash if they are too afraid to loss some percentage value.  And from this, several third party platform thrives.  So basically, this volatility serves as an opportunity to other company to take profit of the booming market of Bitcoin while protecting merchants from Bitcoin's insane price fluctuation.

Yes there is also a possibility that it would rise up so for me I think it is up to them.
They could easily convert every BTC payment into Fiat so that they wouldn't get affected when the price fluctuate .
A company that would accept BTC or crypto as payment would be well aware of what they are doing so I think that those company are accepting BTC for a much more easier transaction and they have a system or app that automatically converts crypto into Fiat ,
Or if not then they are using the fluctuation as a way to gain more profit.

[pecson134]

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.

That is possibly one of the major concern why those certain companies still avoids the use of bitcoins. The mere fact that volatility imposed a threat to their profit is already a great concern in the future. Unless this factor was taken to be dealt with, we can't expect every companies to follow the same path.

[DannyHamilton]

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.

There are 2 solutions to this.

The first is to not hold the Bitcoins long enough for the volatility to have a large effect.  If you sell any bitcoin that you receive within a second or two of receiving them, then the risk of a significant market movement between receipt and sale is pretty small.

The second solution is to use the futures market.

A corn farmer uses the futures market to lock in a price for his corn so that he can weather volitile price changes due to outside forces.

If you run a company and you estimate that you will receive 1 BTC per month in revenue, then you can sell 1 BTC of futures at the beginning of the month for a set price.  You can then accept BTC throughout the month knowing for certain that at the end of the month you will get the agreed price for the 1 Bitcoin regardless of what the current exchange rate is.