The first gas station to accept Bitcoin in my region

[Rockstarguy]

It's nice to see local establishments accepting Bitcoin.  This gasoline station may provide a good advertisement for BTC because it gives a lot of exposure.  Aside from that, it can also trigger curiosity in passersby.   

There is a gas station named Blockchain Fuel found in Pangasinan, Philippines and it was stated that it also accept Bitcoin[1]



[1] https://bitpinas.com/feature/blockchain-fuel-spotted/#:~:text=While%20browsing%20our%20social%20feeds,Lingayen%2C%20Pangasinan%20that%20accepts%20bitcoin.

This is so looking beautiful,  seeing this alone can trigger me to buy petrol when I don't really need it. Am excited getting to see how bitcoin is expending to do with business like this. Am very convinced me that in short time, all this won't be common to people again, it will be adopted as a tradition to many businesses.

[m2017]

~snip

Can you tell me how the purchase of gasoline for bitcoin at this gas station is technically implemented? When choosing bitcoin as a means of payment, a qr code with a payment address is displayed on the screen? That is, you can only pay with a smartphone or airgapped hardware wallet like passport, right? One more question. At what rate is the cost of bitcoin calculated in this payment terminal at the gas station? Can you tell the rate? I'm trying to understand if it differs much from the average market price.

It's great that thanks to your enthusiasm and love for bitcoin, it helps to promote this to the masses and help mass adoption. There would be more such people who do not wait, but act.

[KingsDen]

Good Op for having this cool initiative. It is a good awareness and maybe your competitors will follow the step.
Meanwhile, this can cause your company some challenges when the men of revenue comes around. The bitcoin and its logo is like a threat to the government, especially in a country like Nigeria where the laws can easily be upturned or twisted.

Op, since you initiated the idea, has your company been patronised with bitcoin? If yes, how do you;
1. Manage the volatility, saying in terms of balancing your daily accounts.
2. How do you order for new products with bitcoin because I know depots don't accept bitcoin. Do you convert the coins back to fiat?
3. How about balancing of account if the transaction won't drop same day due to congestion of pool?
4. In your absence, have you trained your staff to be able to handle bitcoin transactions?

[TheNineClub]

Great that you were able to have free hands to try it out. Hell, even if it dosen't work out, it's still good to at least try it out. In my country there were some computer shops that accepted BTC, but this is just a whole diferent level. Let us know how it goes over a year.

[The Cryptovator]

You did a great job so far by convincing your management to accept Bitcoin as a payment method. I know it wasn't an easy task for you, but you did it. It's not only beneficial for the company that accepts Bitcoin as a payment method, but it will also introduce Bitcoin to the new generation. They will be curious to know more about Bitcoin and that's how they would become Bitcoin fans when they will realize the value of the Bitcoin. Keep it up buddy.

[Smartvirus]

You've done well to have make your company aware of an option for which they never considered to have existed. I believe Somehow, they must have heard of bitcoin but have or had a shallow knowledge about it and as such, chose not to give it much attention but, using your position to suggest it to them and getting them to adopt it, at least for a trier is a very good idea and one we'll done too. Now, its  left for you to ensure it doesn't turn out to be a failed initiative. You ought to see how you can manage certain down side to bitcoin on a highly patronised industry such as the petrol station.

The main side to these downsides to bitcoin adoption are:
1. Volatility on the coin
2. Transaction fees/conclusion time

All these are something very much out of your control and you have to see how to manage that, especially the Volatility aspect. The Transaction fee is something up to the customer but the conclusion time is bothways and determines if your to dispense your product or not. Hence, proper educating should be done in your station. Make this success count well for you!

[Anguwa]

Wow, that's a significant advancement, as gas stations are now accepting Bitcoin payments; how I wish I had the opportunity to witness this; I would be delighted to do so. Bitcoin adoption will continue to rise in that portion of the world, and it will become more competitive with other connected businesses, who will strive to make arrangements for Bitcoin payment acceptance as well.

[Zlantann]

Recently a former Nigeria Senate President and a Presidential aspirant of the Peoples Democratic Party for next year's election reiterated that if he wins the election the ban on cryptocurrencies would be lifted. He indicated that the sector would be regulated to ensure that it is protected from abuses. The Nigerian government is well aware that Bitcoin one of the economic future of the world. They are well informed that the Bitcoin industry is employing millions of youth in a nation that is ravaged by high rate of unemployment. That is why the enforcement of the ban on cryptocurrencies is not effective. Although Nigerian banks don't accept Bitcoin but they would give customers unofficial crypto advice on how to process Bitcoin transactions.   

[Nrcewker]

As the new elected manager of my gas station, I have successfully initiate the use of Bitcoin as an alternative payment to help advocate and promote the use of great digital currency called  BTC. I am a Bitcoin lover and I intend to encourage the use in my local region so customers can pay and get to know about it. I see Bitcoin as both investment and a currency and the company can make more if we hold it in respective of the market conditions.

First of all congratulations as you are appointed as the manger of the gas station.
Secondly, is Bitcoin legal in your country?
As if Bitcoins are not legalized, then people will find it difficult to transact it in daily commodities.
Also in order to encourage more usage of BTC in the station ,you can make some discounts like 0.5% off for all the payments made in BTC ?
Also willing to hear how many payments you have received in the first week of the business in the form of Bitcoins.
Please keep us updated with more pictures if possible.

[Wakate]

1. Manage the volatility, saying in terms of balancing your daily accounts.

We'll know that Bitcoin is volatile and the aim is to hold for long. It's another form of investment for the company in case you don't know. We all want to invest in the stock, bond, forex markets, so what make the crypto market different? They are all financial markets and we intend to hold Bitcoin through the exchange for gases. This is a smart move for the company to benefit in a long run.

2. How do you order for new products with bitcoin because I know depots don't accept bitcoin. Do you convert the coins back to fiat?

Bitcoin is a currency and also a form of investment. We don't intend to buy gases from the depot with Bitcoin. The aim is to hold for as long as possible.

3. How about balancing of account if the transaction won't drop same day due to congestion of pool?

This is just the beginning of opting into Bitcoin system of payment, I believe with time we are going to extend into lightening network if the need arises. We are currently working on better ways to enhance this payment option and make it easier for both the customers and the company.

4. In your absence, have you trained your staff to be able to handle bitcoin transactions?

There are staffs that are in charge of that and they have optimum knowledge on Bitcoin and cryptocurrency in general.

Secondly, is Bitcoin legal in your country?

Peer-to-peer is legal

Also in order to encourage more usage of BTC in the station ,you can make some discounts like 0.5% off for all the payments made in BTC ?

We are making plans for that.

Also willing to hear how many payments you have received in the first week of the business in the form of Bitcoins.
Please keep us updated with more pictures if possible.

Your curiosity is welcomed dude.

[sklopan]

This is very cool, but given the current rate - how stable is it? Oh well, as a marketing - quite interesting! Is there a tax?

[slavidivanov]

I`m not sure how many people are willing to pay for the gas in Bitcoin because of its value. How exactly do you receive the Bitcoin, directly to your wallet, or into the exchange? Because if it goes through a system connected with an oracle, or using an exchange you can easily get the currency rate and convert it to fiat. The question is if the government can accept it?

[noorman0]

-snip-
Just a quick question, are the payments instant? As far as I know, there are transaction fees that must be covered and the process of confirmation takes time. How do you remedy that situation where people would instantly leave as soon as they left the establishment?

Which is even more ridiculous when compared to the average gas station in my country. Because you will be surprised if at some point even on normal days when you see this situation for the first time.


Onchain bitcoin payments may never suitable, centralized payment services are a priority to implement. idk

[Doan9269]

supposing he/she is from Nigeria, I am wondering whether it is legally acceptable for business establishments to accept Bitcoin payments. Last I heard, Nigeria issued a ban on crypto transactions.

You're right, this seems to be Nigeria but the government only ban cryptocurrency payment to be made by the commercial banks thereby closing any crypto related account down, but the country does not ban it citizens from making crypto transaction and its not an illegal act in Nigeria, so far so good, recently Nigeria government made some laws in place to regulate the activities of cryptocurrency just in favour of it citizens for the first time ever, now cryptocurrency payments and transaction is openly free for any individual or corporate body to use as a means of payment, the country is taking new steps towards a positive approach on cryptocurrency unlike before.

[justdimin]

Does this ban come with any legal consequences adopted by law?
Because if there is no active punishment for this it means zero, it's just like the whole personal drones issue a few years ago in my country, they were banned but there was no punishment for it so even if the police would come and demand that you stopped they had no way to issue you a ticket or arrest or confiscate the drone, making it a completely useless law till they criminalized it for certain cases.  

So if this is the case, then, there is no actual ban, maybe just advice, and you can always $%# on advices 

In my nation there is a saying "a thing is a law as much as it is enforced". Just to give an example, going from one side of the road to another side as a person while it is green for the cars is jaywalking from the person. You need to wait until cars get red light, and you can walk to other side in that case.

Do you really believe that people do not use that? Of course they do and this means that we are in a situation where we need to understand that bitcoin could be the similar thing at the end. This should be something that we need to see in the crypto world as well, just accept it and wait for it to be illegal, if not then you could continue.

[AakZaki]

Pleased that the adoption of Blockchain technology is starting to be implemented. I like it because this is good news. In addition to blockchain technology as a medium of exchange has begun to be widely used, I think the longer it will be the more adoption there will be. Of course, the adoption of bitcoin today there are still some weaknesses and it could be that it hinders its development. Network and fee issues will probably be the classic problems we encounter. But so far there is a special value that makes Bitcoin has a high price.

[Mr.right85]

-snip-
Just a quick question, are the payments instant? As far as I know, there are transaction fees that must be covered and the process of confirmation takes time. How do you remedy that situation where people would instantly leave as soon as they left the establishment?

Which is even more ridiculous when compared to the average gas station in my country. Because you will be surprised if at some point even on normal days when you see this situation for the first time.


Onchain bitcoin payments may never suitable, centralized payment services are a priority to implement. idk

I am very happy with the news and development, especially with the fact that, this this happening within a nation where cryptocurrency is not very  much encouraged and its government tends to associate it with fraud more than it should. All in an attempt to crumble the system. This would surely raise concerns in the minds of locals and more locals would get to find out the true to the system and its functionality.

Although, the issue could be as displayed in the image above. This is a common issue in terms of scarcity and could be well the result of  wait confirmation time for a crypto transaction. The good news here is, the station ha s provided more than  one means of paying for gas in there outlet.

As an advice in other for this delays on confirmation not to be an issue, altcoins happens to be very much faster than Bitcoin itself. Supposedly a customer has coin on an exchange, it could be swapped and transferees back and forth swiftly with very minor charges. When it comes to a wallet deposit, its a different story although, the advise is subject to your discretion.

[romero121]

Thats a great initiative accepting bitcoin in fuel station. Through this it is possible to reach more people about bitcoin. It is a place where we can see people in queue and crowd. In some locations it is possible to self serving fuel station. Adding bitcoin acceptance will increase popularity to the fuel station. It is a surprise to watch bitcoin at a lower price.

Apart from these services I came across this BlockChain fuel station in philippines.

[ninis45]

Which is even more ridiculous when compared to the average gas station in my country. Because you will be surprised if at some point even on normal days when you see this situation for the first time.


Onchain bitcoin payments may never suitable, centralized payment services are a priority to implement. idk

I'm sure you are in the same country as me....
because we can see such a sight every day....
to implement a P2P transaction is impossible because I see that the management and fuel supply which is still unstable will create a long queue at a gas station and if p2p is implemented there will be a longer queue
unlike in other developed countries they buy by filling themselves with a very efficient payment implementation and a controlled system so there are no queues like that

[CryptoPanda]

This is so looking beautiful,  seeing this alone can trigger me to buy petrol when I don't really need it. Am excited getting to see how bitcoin is expending to do with business like this. Am very convinced me that in short time, all this won't be common to people again, it will be adopted as a tradition to many businesses.

I don't think the adoption will be easy as you say, I wonder how many customers have made payments in bitcoins at Op station so far. If the numbers are up to 20, I will be very impressed cause I used to think it will be difficult for Bitcoiners to spend their bitcoins buying gas. You seem very enthusiastic about it, which is a good sign that we have people who are willing to spend their bitcoins for everyday services.