Increasing acceptance level - Cryptocurrency

[oktana]

I basically replied some other topic regarding the increase in acceptance level of cryptocurrency. It seems like many people are not understanding the fact that everyday, people get to know what Bitcoin is and understand that it functions beyond being a speculative asset; that it can serve as a payment method too. This is really an inspiring post. Not just to Bitcoin but to every crypto that strives to be used as a payment method.

[skybot13x]

I basically replied some other topic regarding the increase in acceptance level of cryptocurrency. It seems like many people are not understanding the fact that everyday, people get to know what Bitcoin is and understand that it functions beyond being a speculative asset; that it can serve as a payment method too. This is really an inspiring post. Not just to Bitcoin but to every crypto that strives to be used as a payment method.

No, that is not what they observe these days mostly. Imagine you find out about Bitcoin today and there is a restaurant accepting Bitcoin, have fun trying to pay for your 10 USD pepperoni pizza with Bitcoin... 20 USD in fees, 10 USD the Pizza, 2 USD the tip, seems to me like a pretty expensive pizza that you also had to wait for 30 minutes because the one block confirmation took a little bit longer.

[Welsh]

No, that is not what they observe these days mostly. Imagine you find out about Bitcoin today and there is a restaurant accepting Bitcoin, have fun trying to pay for your 10 USD pepperoni pizza with Bitcoin... 20 USD in fees, 10 USD the Pizza, 2 USD the tip, seems to me like a pretty expensive pizza that you also had to wait for 30 minutes because the one block confirmation took a little bit longer.

The idea is; Bitcoin won't always have expensive fees to pay for small transactions. Technology like Lightening, and Segwit try to tackle this problem, and there will likely be more, and more improvements in the future. Currently, I would probably agree that Bitcoin isn't suited for micro transactions, such as every day transactions, however that doesn't mean it'll always be the case. I also imagine that restaurants won't require block confirmations, because the likelihood of a double spend is relatively low, and there's probably just as much risk as someone paying with a fake bill (sometimes even without knowing themselves).

[worldofcoins]

I believe it's in Bengaluru. Is it a decision taken by the local Auto Union? Because the sign-board says "we" instead of "I". Any Autowala can accept cryptos as per their own will but I am little skeptical how this transaction will work. Did you try paying through cryptos? If yes, please share your experience. Because it's a splendid news for crypto community of India. It's actually a granular level crypto adoption which is very very important for the growth in the market.

Quite the opposite, look at the plate behind the tire of the Truck on the right side, if I'm not wrong it's written in punjebi. I've seen some Sikhs reading somewhat similar characters in their texts, The thing is they might be using Segwit for the payment with 1sat/B fee. But it will not secure them from double spend attack.

[skybot13x]

No, that is not what they observe these days mostly. Imagine you find out about Bitcoin today and there is a restaurant accepting Bitcoin, have fun trying to pay for your 10 USD pepperoni pizza with Bitcoin... 20 USD in fees, 10 USD the Pizza, 2 USD the tip, seems to me like a pretty expensive pizza that you also had to wait for 30 minutes because the one block confirmation took a little bit longer.

The idea is; Bitcoin won't always have expensive fees to pay for small transactions. Technology like Lightening, and Segwit try to tackle this problem, and there will likely be more, and more improvements in the future. Currently, I would probably agree that Bitcoin isn't suited for micro transactions, such as every day transactions, however that doesn't mean it'll always be the case. I also imagine that restaurants won't require block confirmations, because the likelihood of a double spend is relatively low, and there's probably just as much risk as someone paying with a fake bill (sometimes even without knowing themselves).

That's absolutely right what you are saying and I am sure once the technology is in place that real micro transactions can happen, I think Bitcoin might go to the moon once again. Way beyond where we are at now. Think about all those people from poorer countries who then might have a real solution to their micro transactions problems. All these people are not essentially excluded from using Bitcoin because it just doesn't make sense for them. This will need some time but once the tech gets rolled out we'll see a lot of enthusiasm arise from other places of the world as well.

[bocyaj]

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

You made a good work brother. It's seems to the auto rickshaw from the south india. I had seen a tamil language in one of the vehicle, in front of the auto rickshaw. It's good initiate by that driver of auto. He is seems to be the person explored to the updated technology.Hope he will earn good money.

[Hamphser]

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

I havent seen any of those here on my country but i do see some shops or merchants that do already accept cryptocurrency which is really showing that adoption is on the move.

Really a good benefit for those who live in a country on where transportation payment option does already include crypto which is really a convenient one.

But i doubt that people would be using this actively because majority will surely be opting to hold their coins instead rather than using their coins on daily active transport.

[ajochems]

I basically replied some other topic regarding the increase in acceptance level of cryptocurrency. It seems like many people are not understanding the fact that everyday, people get to know what Bitcoin is and understand that it functions beyond being a speculative asset; that it can serve as a payment method too. This is really an inspiring post. Not just to Bitcoin but to every crypto that strives to be used as a payment method.

No, that is not what they observe these days mostly. Imagine you find out about Bitcoin today and there is a restaurant accepting Bitcoin, have fun trying to pay for your 10 USD pepperoni pizza with Bitcoin... 20 USD in fees, 10 USD the Pizza, 2 USD the tip, seems to me like a pretty expensive pizza that you also had to wait for 30 minutes because the one block confirmation took a little bit longer.

You are seeing in a wrong perspective.The people can directly converted the cryto currency in many exchanges.The transaction to auto driver can be made with the usdt using of trc20 address.So the fee will be 0$ and the minimum wage using auto rickshaw will be 1 dollar or above.

[Viscore]

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

I havent seen any of those here on my country but i do see some shops or merchants that do already accept cryptocurrency which is really showing that adoption is on the move.

Really a good benefit for those who live in a country on where transportation payment option does already include crypto which is really a convenient one.

But i doubt that people would be using this actively because majority will surely be opting to hold their coins instead rather than using their coins on daily active transport.

Maybe for now as the adoption is not fully developed, those who knew bitcoin would rather hodl it rather than spending it. But in times when cryptocurrency is fully accepted not just in transportation but in all aspects of man's life, then we can expect that bitcoin or any form of crypto will be widely spend.

But i wonder how these passengers transact their payment? I'm thinking about the transaction fee. But i'm happy with this news. Now we are starting to adopt crypto in some parts of the world. Hopefully crypto will also be fully accepted in my country in the next years to come.

[Questat]

You made a good work brother. It's seems to the auto rickshaw from the south india. I had seen a tamil language in one of the vehicle, in front of the auto rickshaw. It's good initiate by that driver of auto. He is seems to be the person explored to the updated technology.Hope he will earn good money.

This is a kind of initiative that people from India particularly for these Autowala giving some options and the good thing is it also helping to spread awareness about crypto. But I'm in doubt how the transaction could be run instantly and for the fees as well knowing that most of the time there are some delays that happen and it sometimes takes a few minutes to confirm. We'd never know their strategies, maybe they'll buy the ticket first and get paid with cryptos before making a ride.

[jaberwock]

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

That’s really cool, but is this something that you can see on a regularly in your location, or is it something that is rare? For sure the rate of acceptance of bitcoin is going to grow. But, I do worry about how the transaction is going to work, whether it’s going to be fast enough to cope with the usage.

Although I know for sure that there are lots of cryptocurrencies that are fast these days. Since, I started making use of cryptocurrency it has usually been bitcoin about 80% of the times and then I also make use of Ethereum. It is recently that I tried out Tron, and used it for a transaction and it was instant. There are fast cryptocurrencies, just that we all prefer bitcoin.

[Tahsin Kabir Kollol]

As the value of cryptocurrency rises, so does its popularity and use. It is great to see that individuals are increasingly interested in the way that cryptocurrency has become a necessary thing of our everyday life, and despite the fact that it isn't something that appears to be effective or prudent now since expenses and exchanges time is high, however, executing the thought in individuals' day by day lives is a colossal advance toward worldwide transformation.

[ninabobo]

Good idea, but for me too often you take a transport car and pay with crypto what is excessive while the fiat money in your pocket is spent on more expensive goods. For me it's not a problem, but how about paying with fiat directly it's easier for you to put it next to the driver and leave.

Firstly let's appreciate the fact that bitcoin is gaining mass adoption which is a good thing for everyone in the crypto space, but truth be told little things like this should just be paid with fiat because this will only add up to our daily stress, our movement won't be faster because you need to make payment and confirmation before leaving, so this will delay our daily movement, bitcoin can be used for bigger payments like in a shopping mall, sending money across country's for goods or services with no bank stress etc.

[ReiMomo]

Below is a pic that's been taken on a ride. Everyone might be familiar with the Autorickshaw of India. In some part people term them as Autowala.The auto rickshaw is called with different names on different countries including auto, auto rickshaw, baby taxi tuk-tuk, 3wheel, bao-bao, tukxi. The operators are very common people who have their living out of the earning through this rental rides. They've started accepting cryptocurrency is something big and shows the increasing level of cryptocurrency acceptance.

Really exited to see this. To be frank, I am from where the auto is driven. Lovely to see, guys openly keeping a paper board stating he is accepting crypto currencies. I am sure, riding auto must be his part time job and he must be working around here in forum or trading in the big platforms here. We do see many good big companies take time in accepting crypto currencies, but where as an individual who is just a runs auto business by himself, is accepting crypto currencies. Need to really appreciate him man.

[Dewi89]

I guess they use multi currency wallets since it's not indicated which specific crypto that they accept. Or maybe when you ask them what cryptos are they accepting, it will only be limited to the top cryptos.

But it only shows that even for small services like the tuktuk's, it can also happen for the other transport vehicles that are open to the public.

We will know the multi wallet that bitcoin accepts when applying for payment using bitcoin, then the driver will show a QR code through the wallet wallet application that he uses. I didn't expect the tuktuk service to accept bitcoin, meaning that bitcoin has grown and can be used by everyone for any transaction.

[milewilda]

I guess they use multi currency wallets since it's not indicated which specific crypto that they accept. Or maybe when you ask them what cryptos are they accepting, it will only be limited to the top cryptos.

But it only shows that even for small services like the tuktuk's, it can also happen for the other transport vehicles that are open to the public.

We will know the multi wallet that bitcoin accepts when applying for payment using bitcoin, then the driver will show a QR code through the wallet wallet application that he uses. I didn't expect the tuktuk service to accept bitcoin, meaning that bitcoin has grown and can be used by everyone for any transaction.

Adoption is on the move and it is somewhat expected nor we do likely presume that we would really be seeing crypto payments more rampant compared as of these years.
Recognition had risen due into its actual utility which could really be actually fit out in terms of payment and since each country does have its own take about crypto then
we could really take advantage of it and i wasnt really that surprised about these integrations because ive seen some merchants here on my place which does accept
crypto on buying up their goods or services which is  really great to look at.

[SimpleMan]

I have tried to display a reminder of accepting cryptocurrency payments in my shop.

But many customers don't know what cryptocurrency is. Some interested will ask, I also have to teach him how to buy it on the exchange and then how to transfer it to me. This wastes a lot of time.

In a month, no stranger pays with cryptocurrency except for a friend who understands Bitcoin. He used Biance's C2C function to transfer me a 200USDT bill. Finally, I removed the cryptocurrency payment method.

It takes a long time to promote cryptocurrency payments.

Although we live in the technological age but not everyone can use smartphne proficiently.Cryptocurrencies require you to have more skills to use.Cryptocurrencies have gained rapid popularity in recent times.
Actually it's not ready to become a daily payment method, we need more time.

It is not only us who need more time, it is also Bitcoin itself that needs more time to develop further. I also believe that Bitcoin won't become the payment method we will use on a daily basis. Decentralized finance also isn't ready yet. There is a lot of development to come in that area as well and that will be the same for Bitcoin. It is interesting to speculate about where we will be at in five years time. I think that is a reasonable time span to expect some significant changes to the current situation and the role cryptocurrencies play in our lives.

[Alert31]

Good idea, but for me too often you take a transport car and pay with crypto what is excessive while the fiat money in your pocket is spent on more expensive goods. For me it's not a problem, but how about paying with fiat directly it's easier for you to put it next to the driver and leave.

Indeed, it was easier to pay fiat money directly than to pay with crypto. It's a hassle to pay with crypto when you are riding on a car or bus or any transport because you need to make transactions everytime you pay and you need to have internet connection everytime you ride. Then, everytime you made a transaction there is a high transaction fee which is not good, I think.

[tanjiran]

Good idea, but for me too often you take a transport car and pay with crypto what is excessive while the fiat money in your pocket is spent on more expensive goods. For me it's not a problem, but how about paying with fiat directly it's easier for you to put it next to the driver and leave.

Indeed, it was easier to pay fiat money directly than to pay with crypto. It's a hassle to pay with crypto when you are riding on a car or bus or any transport because you need to make transactions everytime you pay and you need to have internet connection everytime you ride. Then, everytime you made a transaction there is a high transaction fee which is not good, I think.

So far, the use of crypto, especially BTC for micropayments, is not effective enough, and it is simpler to use fiat or e-money payments. I think it will take quite a while for btc to really be widely accepted and recognized by the government, and its use as a payment alternative will slowly show progress. it takes time too until the existing human resources are ready and adapt to cryptocurrencies, this is a bit complicated for ordinary people, believe me.
I consider btc and crypto in general as trading commodities and investment tools, because for me payments using fiat and e-money are still very effective.

[cabron]

Sorry to say, I don't believe it's real or edited image but it is impossible, how auto driver can manage Crypto and driving auto, which Crypto he will accept, if some give him ETH they can't withdraw.   

But if it's in El Salvador I guess it's somehow believable actually. If I have to accept Bitcoin I would particularly indicate which coin to be precise with the logo of the coin in the image. India seems to be far from adopting Bitcoin or any cryptocurrency. Their government has a very confusing law about it and there are articles about them developing CBDC too.