Crypto Currency acceptance Everywhere

[Vaskiy]

Amidst the heavy taxation on cryptocurrency, the acceptance of cryptocurrencies have been increasing all around. A fine example for the same is the acceptance of cryptocurrencies by this street chai (tea) Shop accepting cryptocurrency. This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.

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[Yatsan]

Question I guess, if people would be still willing to transact using crypto, especially at this point wherein the market is still down. What's likely to happen is that users, especially investors, won't prefer using theur assets to buy things. But the idea or thought is there -- adaptation. Given how unstable the situation is, I think it will be still a long run before fiat and crypto coexist on a daily basis. It is just amazing how crypto related ideas are being raised for awareness to those who are not knowledgeable into it yet.

[aquafinewater]

Yea no dout in this now many countries accepted cryptocurrency payment due to this I,m sure. Crypto has a bright future and in coming future cryptocurrency using as a local currency in all over the world

[crwth]

At least those vendors on the street can have that kind of technology. I don't think the people here in my country would easily accept Bitcoin because they wouldn't understand what to do with it and probably reject its innovation and how it could help them in the long run. They would prefer the fiat way where paper money is king and probably not digital.

Nevertheless, I hope it will increase adoption in other countries, and everyone will follow suit. I do hope that happens.

[tbct_mt2]

Not accepted everywhere
Not legal everywhere

But it can not stop cryptocurrency to be accepted more and become legal in more locations in future

This is a process that takes a long time to finish but we will have it and cryptocurrency will not leave anywhere. Along its adoption and increasing acceptance, there will be come and go projects. It is same as businesses, companies are created and die. Some will succeed and will stay for long.

[cheezcarls]

Amidst the heavy taxation on cryptocurrency, the acceptance of cryptocurrencies have been increasing all around. A fine example for the same is the acceptance of cryptocurrencies by this street chai (tea) Shop accepting cryptocurrency. This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.

I have no problem getting taxed because we are obliged in doing so as income earners to help with the economy. Crypto taxes aren't yet being structured in the Philippines despite it's generally considered to be taxable under realized income (crypto to fiat conversion). I would likely choose to pay taxes than getting banned in the country as regulation is definitely needed to increase more adoption.

Same here in the Philippines where the acceptance has been increasing and it'll never stop. Recently, Binance will be partnering with Philippine universities to introduce Bitcoin and crypto related courses in the curriculum.

[Solosanz]

There's many countries still ban Bitcoin, how it's possible for other crypto to get accepted? of course they need to wait until Bitcoin fully accepted in the whole countries in this world first.

AFAIK India is banning Bitcoin isn't? or they implemented insane fees for around 40% if I'm not wrong. I don't think it's a good moment to accept crypto payment when the fees is really higher and not fully legal. Because it would harm his reputation and broke the law.

[tbct_mt2]

There's many countries still ban Bitcoin, how it's possible for other crypto to get accepted? of course they need to wait until Bitcoin fully accepted in the whole countries in this world first.

Exactly.

Countries where Bitcoin is legal and illegal. It will change with time and will be skewed in legal side because more countries will accept Bitcoin. I don't think we will have a future with that more countries will not accept or ban Bitcoin. It is not the trend.

Global adoption, legal tender will be the trend. It won't stop.

[tjtonmoy]

This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.

This is a great thing to see here. For the past few days, I have been accepting crypto in my business too. Not many people use it now, but in the future? Yeah, crypto will be legal and accepted all around the world for sure. Hoping to see that day before my death. Then I'll have a peaceful death.

[Accardo]

Its simple to say that the taxation is too much, but, ideas differs, imagine the kiosk owner to be a cryptocurrency trader. It doesn't stop him from trading while doing a real life business. For instance, I open a shop in my street or somewhere, I'll definitely accept bitcoin because its useful to my side business, trading cryptocurrency, many traders are going into real life businesses and it'll help disseminate  the use of bitcoin. In the world of economy today, a little business added to your online business can make a huge difference to your earnings, and when that happens you are likely to accept bitcoin. In a nutshell, I think those who accept bitcoin know what to do with bitcoin regardless of the volatility.

[lovesmayfamilis]

Its simple to say that the taxation is too much, but, ideas differs, imagine the kiosk owner to be a cryptocurrency trader. It doesn't stop him from trading while doing a real life business. For instance, I open a shop in my street or somewhere, I'll definitely accept bitcoin because its useful to my side business, trading cryptocurrency, many traders are going into real life businesses and it'll help disseminate  the use of bitcoin. In the world of economy today, a little business added to your online business can make a huge difference to your earnings, and when that happens you are likely to accept bitcoin. In a nutshell, I think those who accept bitcoin know what to do with bitcoin regardless of the volatility.

This looks good if your country does not prohibit accepting Bitcoin payments, that is, making financial transactions. What if you are breaking the law? What will be the punishment in this case? I say this because in my country it takes a very long time to decide the laws on the adoption or prohibition of cryptocurrencies. The government moves from plus to minus and vice versa. And as long as bitcoin is an unregulated coin, we will have to wait a very long time for things like accepting payment or buying with bitcoin.

[qwertyup23]

As far as I know, one of the local exchanges in India has closed down due to implementing stringent regulations and guidelines by their government? Not sure on how it proceeded but the fact that there are people accepting cryptocurrencies as payment to their services/products gives hope for its wide-scale implementation in the future.

To be honest, there are other forum members who posted several threads introducing and implementing the payment of cryptocurrencies in their respective businesses. The more people post about it, the more businesses would accept cryptocurrency as a mode of alternative payment.

[Flexystar]

That guy must be very enthusiastic about crypto currencies. His doing all he could with his small roadside business. I love his inspiration and could not thank him more to show such bravery of putting that tag openly. Yup, Bangalore is metropolitan and highest IT people live there and definitely the chai or tea is favourite drink in the region. Many people are going to notice that tag, they gonna approach him, ask him about it and get involved with it. I am pretty sure he will make it into local news paper real soon. Hope he gets his goals achieved to collect as much bitcoins as he could and wait for it to boom. The taxes would be nothing in the later part anyways.

[avikz]

Question I guess, if people would be still willing to transact using crypto, especially at this point wherein the market is still down. What's likely to happen is that users, especially investors, won't prefer using theur assets to buy things. But the idea or thought is there -- adaptation. Given how unstable the situation is, I think it will be still a long run before fiat and crypto coexist on a daily basis. It is just amazing how crypto related ideas are being raised for awareness to those who are not knowledgeable into it yet.

I have a similar thought to be honest! usually a cup of tea costs around 10 - 15 INR and I broke my calculator while calculating the value of it in bitcoin! I will have to spend more in fees fi I really want to transact there. So it's not really a feasible payment method for small payments. But the awareness is the key here. Bengaluru is the IT hub of India and majority of the population is educated and well to do in life. Such kind of open advertisement would probably make some people intrigued about bitcoin and they will probably enquire about it and do some research on it.

OP, if you are nearby, can you ask that fellow how many payments he has received in bitcoin till date?

[ChiBitCTy]

This is a good thing but also potentially could have a negative recourse based off of governments and their allowance of bitcoin.  We know that there are a decent amount of countries who've banned bitcoin, and unfortunately I could see this number rising if countries believe it's effecting their own currencies bottom line.

[Franctoshi]

No doubts about it that cryptocurrency is certainly the future of money and the earlier that people start to understand this the better for the early birds. Fed chairman Jerome Powell made it clear in one of his interview during the Corona virus outbreak 2019-2020 "stated that they're not going back to the same economy, we're recovering but we're moving into an economy that is more leverage to technology which is "Blockchain"(Bitcoin and CBDC's).
And too coupled with the fact that the fourth industrial revolution is starting to be rolling out at same time,Therefore Bitcoin and cryptocurrency transactions is gonna be everywhere in the future, To an extent where robbots are gonna pay each other with cryptos in future and it's just a matter of time.

[hugeblack]

Is the area a tourist? Because the value in US dollars is rarely put in the popular markets, which is shown in the background of the image.
The price of coffee is less than a dollar so it would be great if there was a lightning network payment option but it is good to see more daily use rather than speculating in these currencies.
If you use social media, this person will get more visitors.

[Rockstarguy]

Amidst the heavy taxation on cryptocurrency, the acceptance of cryptocurrencies have been increasing all around. A fine example for the same is the acceptance of cryptocurrencies by this street chai (tea) Shop accepting cryptocurrency. This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.

It is so Interesting that you are spreading bitcoin through the business you do, but I'm still curious if people who have Bitcoin would want to transfer Bitcoin to buy tea knowing fully well that tea is very cheap. Most people would want to for tea wit fiat and to save their Bitcoin because it is an asset to them. People mostly prefer to spend their bitcoins to buy electronics, cars and houses. But it still nice if you accept bitcoin for your business and if people will be will to pay for your tea for bitcoin.

[Taskford]

Amidst the heavy taxation on cryptocurrency, the acceptance of cryptocurrencies have been increasing all around. A fine example for the same is the acceptance of cryptocurrencies by this street chai (tea) Shop accepting cryptocurrency. This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.
[/center]

Good gesture done by businessmen who also a crypto user because for the action they did provably this could create a demand and curiosity to the people around them. Hoping to see more merchant to step up because their participation is really needed so that government will realize the importance of crypto on financial usage or even on the economy.

[n0ne]

Amidst the heavy taxation on cryptocurrency, the acceptance of cryptocurrencies have been increasing all around. A fine example for the same is the acceptance of cryptocurrencies by this street chai (tea) Shop accepting cryptocurrency. This is located in Bangalore which is one among the IT City of India. Hope this creates awareness and increase of usage among Indians.
[/center]

Good gesture done by businessmen who also a crypto user because for the action they did provably this could create a demand and curiosity to the people around them. Hoping to see more merchant to step up because their participation is really needed so that government will realise the importance of crypto on financial usage or even on the economy.

Through such acceptance, even if the person doesn't get much business it serves as a promotion. Even the person who haven't heard of it will try to find the answer for what is crypto. India being a country with the biggest population can be a game changer if people start using it. For now it looks like there is slow progress, and the same can make the government understand the need of cryptocurrency against the inflated currencies.