10% Cashback by paying with Bitcoin in more than 250 Shops in Lugano

[glendall]

This is surely a great news! This is something which will help bitcoin to gain adoption for sure. People love discounts and cashbacks so it's really a win-win situation for both parties.

Indeed a great news for the cryptocurrency industry. But in the real sense there is no cashback. I have seen these kinds of promotions, although in fiat but in the end the company gets their money back eith huge profits.
There's always a loop hole somewhere the business owners are utilising unknown to the public.
Meanwhile, who pays for the transaction fee. Let's say the 10% cashback covers for the transaction fee. It's all fine and a good win for cryptocurrency because the offer is  not exclusively for bitcoin.

indirectly means this is practically a public fraud with a 10% cashback,
many times I read the OP's board, and I thought what kind of 10% cashback? whether in btc or fiat form applies

[franky1]

This is surely a great news! This is something which will help bitcoin to gain adoption for sure. People love discounts and cashbacks so it's really a win-win situation for both parties.

Indeed a great news for the cryptocurrency industry. But in the real sense there is no cashback. I have seen these kinds of promotions, although in fiat but in the end the company gets their money back eith huge profits.
There's always a loop hole somewhere the business owners are utilising unknown to the public.
Meanwhile, who pays for the transaction fee. Let's say the 10% cashback covers for the transaction fee. It's all fine and a good win for cryptocurrency because the offer is  not exclusively for bitcoin.

indirectly means this is practically a public fraud with a 10% cashback,
many times I read the OP's board, and I thought what kind of 10% cashback? whether in btc or fiat form applies

you give the laguna custodian your BTC and they instead give you some crap token called LVGA which you then send to merchants. whereby whatever price the LVGA is the balance then shows as 10% of that balance returning to your laguna app in LVGA  token form

its not actually buying things with bitcoin. because the merchant receives LVGA tokens

[Aikidoka]

It's actually cool to see that, it's clearly a win-win situation for both the business owner and the clients. Not only does buying with Bitcoin help save money, but it's also extremely convenient to make payments, I mean it's really easy to do it. Personally, I don't feel like I'm spending much or even notice it at all. In addition to that , the 10% discount is quite attractive.

For the business owner, they may receive less money now but once Bitcoin's price increases again they'll undoubtedly make a huge profit. Based on that I'm confident this business will thrive.

What's particularly important now is Bitcoin itself. Through these shops a lot of people will become aware of Bitcoin and eventually become involved with it if they find the idea appealing. I will definitely use my bitcoin if I was in Switzerland.

[aoluain]

Damn thats misleading!

I was thinking before reading through the thread that I would just take the reward and
put it straight back into Bitcoin by using a Bitcoin ATM, I'm sure there are some in Lugano.

I wouldnt be interested in using any $hit token just to get 10% back in it after spending
my precious Bitcoin.

It sounds like a scam to get value into that LVGA and fooling people into thinking
there is some value in it.

[Z-tight]

It sounds like a scam to get value into that LVGA and fooling people into thinking
there is some value in it.

It is not a scam, just like i have explained in my previous posts in this thread. The LVGA stable coin doesn't have any value, it cannot be used outside Lugano, and its only use-case is for making payments to merchants within Lugano. This stable coin is backed by the Swiss Francs, so it is more like you are just spending fiat, but in a digital way; the initiative is clear and open for people want to take advantage of it, you are correct that it is not really about BTC, but it isn't a scam.

What's particularly important now is Bitcoin itself. Through these shops a lot of people will become aware of Bitcoin and eventually become involved with it if they find the idea appealing. I will definitely use my bitcoin if I was in Switzerland.

You can use your BTC in many places, you don't have to be in Switzerland. Check my previous posts to understand what this initiative is about. The initiative isn't exclusively about BTC. Lugano, Tether and GoCrypto are working together to promote crypto payment in Lugano, the idea is to encourage people to pay in usdt, BTC lightning and LVGA, and if you use LVGA you get a 10% cashback of the stable coin into your MyLugano app.

[kryptqnick]

10% is great cashback, and Lugano seems to be a pretty popular tourist destination in Switzerland. How does the cashback work, though? Is using a centralized app to pay in BTC required? Or does the owner just send 10% of BTC purchases individually to BTC addresses of the customers?
It seems from franky1's reply that it's a centralized service, and transactions don't occur on the Bitcoin blockchain. It also seems from his replies that a token is being used, not Bitcoin...

[stompix]

How does the cashback work, though? Is using a centralized app to pay in BTC required?

To clear the confusion once and for all, the title of the topic is misleading!

The discount only applies when you pay with LVGA!
LVGA is a centralized token, it's pegged to the Swiss franc, it's impossible to convert on any exchange as it's impossible to transmit outside your app, it's basically PayPal money or Starbucks credit.

The promotion has nothing to do with Bitcoin, :
https://my.lugano.ch/en/

MyLugano uses LVGA, a local payment token based on blockchain technology, to create a concrete incentive and thus support spending in the city. By downloading the app, users receive up to 10% cashback paid in LVGA to spend on subsequent purchases in the city.The partners , by releasing the cashback in LVGA, create a loyalty bond with the customer and help to keep the cashback money in the city, creating a virtuous effect with positive spillover effects on the entire city economic circuit.

So this is shitcointalk material.

It is not a scam, just like i have explained in my previous posts in this thread. The LVGA stable coin doesn't have any value, it cannot be used outside Lugano, and its only use-case is for making payments to merchants within Lugano. This stable coin is backed by the Swiss Francs, so it is more like you are just spending fiat, but in a digital way; the initiative is clear and open for people want to take advantage of it, you are correct that it is not really about BTC, but it isn't a scam.

You do realize you're cheering for a CBDC centralized, fully censorable, mandatory KYC, not your keys, not your coins shitcoins here, right?

[Lorence.xD]

If this is real it's either Bitcoin is already known in the country or it just attract more customer to acknowledge Bitcoin. But I think using those method would target people who doesn't think of the transactions fee which mean customer would be lose on this promo. %10 is more likely a payment to the fee already so it's a win situation to the owner. But I guess it would hook more people to invest themselves and gather knowledge. But in our country it would be consider hassle due to Bitcoin is not known as payment and there's more convenient with less fee.

[Synchronice]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano. Lugano is a city in Switzerland.This is for sure the best thing I have seen on the internet today. From my POV it is a win-win both for the buyer, the business owner, and Bitcoin. How? The buying saves money. The business owner gets an increase in revenue because they would experience sales increase. People love discounts. For Bitcoin, more increase adoption in that city.

Sincerely wish to see it spread to other cities and see more shops get involved. So, if you are in the city of Lugano, you know what to do.

Cashback? How are they going to perform cashback? If something costs 0.01 bitcoin, are they going to send me back 0.0001 bitcoin? It's won't be comfortable, they'll also have to pay transaction fees. Maybe they should change the term and use sale instead.

By the way, to be completely honest, bitcoin isn't that popular to adopt it in your store and expect enormous sales growth since that day, at the moment, 10% sale on bitcoin payment from every merchant is just an enthusiasm of bitcoin and cryptocurrencies, which I highly appreciate. There were moments where person was offering 15% sale on bitcoin payments and I paid him without extra 15% sale. I just appreciate!

[hopenotlate]

As an Italian I feel a bit made fun of by the hand move made in their billboards  ahahah, guess there are Italians in their marketing team.
 
Also in their tweet they abuse of it  



Anyway, beside the hassle of having to register in dedicated app, provide personal details ( which derails a bit the purpose of using cryptocurrency) and obtaining the cashback in for of  their not so diffused tokens  this is a very cool initiative to promote the use and the awareness of cryptocurrencies.

[franky1]

its also worth noting that the "mylaguna" app gives you tokens on a 3ac blockchain which if you look at their costs of becoming a user after the "trial" is $1100 for 2 years.

yep they want you to pay to become a member so that they as a custodian  can grab your bitcoin and sign over(federation of PoA) their silly valueless token on a ethereum subnetwork, which you paid $1100 just to be able to play with

follow the breadcrumbs.. chew on the crust:

https://www.3achain.org/en/use-cases/
https://www.3achain.org/en/casi-uso/my-lugano/
https://www.3achain.org/en/how-it-works/
https://www.3achain.org/en/users/

[Fiatless]

It is not a scam, just like i have explained in my previous posts in this thread. The LVGA stable coin doesn't have any value, it cannot be used outside Lugano, and its only use-case is for making payments to merchants within Lugano. This stable coin is backed by the Swiss Francs, so it is more like you are just spending fiat, but in a digital way; the initiative is clear and open for people want to take advantage of it, you are correct that it is not really about BTC, but it isn't a scam.

You do realize you're cheering for a CBDC centralized, fully censorable, mandatory KYC, not your keys, not your coins shitcoins here, right?

The discount might look enticing but they complicated everything with the introduction of the LVGA stablecoin. This will make you surrender your information to a centralized platform for a token that is worthless outside Lugano. They are just hiding behind Bitcoin to promote a shitcoin. The only advantage of this move is that it will increase cryptocurrency awareness because people will be introduced to Bitcoin and other cryptocurrencies. I agree it is not a scam but it can promote scams because the citizens of Lugano is been introduced to the wrong coins.

[leonair]

~snip~

This is a great offer and the promotion of Bitcoin through it is very commendable. A 10% discount is a great money saver when we purchase something at a higher price. So when someone goes to buy something from here for a big amount then they will definitely be interested in paying in Bitcoin because they are getting 10% money back there. Bitcoin is really going to be a potential currency for shopping and receiving all kinds of services. and recently Google Cloud is partnering with Bitcoin's Lightning Network. these events point to a bright future for Bitcoin

[Z-tight]

This is a great offer and the promotion of Bitcoin through it is very commendable. A 10% discount is a great money saver when we purchase something at a higher price. So when someone goes to buy something from here for a big amount then they will definitely be interested in paying in Bitcoin because they are getting 10% money back there.

Read all of the topic to get the truth of what's happening here, the belief that this initiative is run to promote BTC has been debunked, if you had read all of the thread, you would have made a different post.

You do realize you're cheering for a CBDC centralized, fully censorable, mandatory KYC, not your keys, not your coins shitcoins here, right?

No i am not doing that, my posts in this thread have all been to set the records straight and debunk the misleading op; i said it isn't a scam because i don't think it is likely people will lose money with this initiative, especially if they pay with BTC lightning, in which they do not have to use the MyLugano app, but they only have to pay merchants who will accept the payments with their GoCrypto pos terminal.

[franky1]

No i am not doing that, my posts in this thread have all been to set the records straight and debunk the misleading op; i said it isn't a scam because i don't think it is likely people will lose money with this initiative, especially if they pay with BTC lightning, in which they do not have to use the MyLugano app, but they only have to pay merchants who will accept the payments with their GoCrypto pos terminal.

the 10% discount is in the form of the laguna stablecoin you speak of.. its not a 10% btc discount/cashback

[Z-tight]

the 10% discount is in the form of the laguna stablecoin you speak of.. its not a 10% btc discount/cashback

I am aware of that. Did you read my previous posts in this thread? I've made mention of it more than once.

[dezoel]

I never knew that Switzerland was so friendly regarding cryptocurrencies, if there are not any regulations or anything like that, I think the adoption rate will increase pretty quickly this way. Such things should be done in tourist places where tourists from all over the world come to visit those places and when they see Bitcoin and other cryptocurrencies being accepted everywhere, a lot of people will surely be interested in them.

A city like Tokyo or New York City should have such things and then we will see the adoption booming for sure because these are the most busiest and crowdy cities in the world and there are always a lot of foreign people in there so it surely will be useful.

[panganib999]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano. Lugano is a city in Switzerland.This is for sure the best thing I have seen on the internet today. From my POV it is a win-win both for the buyer, the business owner, and Bitcoin. How? The buying saves money. The business owner gets an increase in revenue because they would experience sales increase. People love discounts. For Bitcoin, more increase adoption in that city.

Sincerely wish to see it spread to other cities and see more shops get involved. So, if you are in the city of Lugano, you know what to do.

*  https://twitter.com/LuganoPlanB/status/1664548340950769671?t=K79BxSdTKnsJ3i40ZzpNKw&s=19

Good one, I must say. But this will mostly cater towards people who are already using bitcoin, and not the ones who aren't. You have to understand that no amount of price could top the customer's convenience, they know that so well and thus would rather just pay the bill outright than be taught for 5-10 mins on how to create a bitcoin wallet, transfer their funds there, and then pay stuff. In my opinion, there has to be a more aggressive take on this, something along the lines of, "You get something for free if you download and pay us with a bitcoin wallet" or something similar. This way, people that are not within bitcoin's reaches back then would be at least more enticed to use bitcoin now.

[BitGoba]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano. Lugano is a city in Switzerland.This is for sure the best thing I have seen on the internet today. From my POV it is a win-win both for the buyer, the business owner, and Bitcoin. How? The buying saves money. The business owner gets an increase in revenue because they would experience sales increase. People love discounts. For Bitcoin, more increase adoption in that city.

Sincerely wish to see it spread to other cities and see more shops get involved. So, if you are in the city of Lugano, you know what to do.

Even though it looks interesting and the creative idea that Lugano is doing will never happen in our country, because the only legal transaction tool that is recognized by the state is fiat currency. This week there is one young person who accepts payments using crypto has to deal with the police and the person concerned has also been detained at the police station. It's a very surprising phenomenon that our country is not playing around in cracking down on bans and it's just one person trying to accept bitcoin as a means of transaction and imagine if most do that?

Lugano is a city in Switzerland and mostly accepts means of payment using bitcoins, but actually in that city not only accepts bitcoins as legal tender but other cryptos can also be used to a large extent. So it's no wonder that what they are doing is an important aspect of providing an effective service and this has been going on since 2022, this program is also believed to have a positive impact on business growth there.

Lugano has over 400 points of sale that support bitcoin payments via the lightning network, and two McDonald's in the city

POS terminals do not support other cryptocurrencies, only Bitcoin lightning network because transactions are instant and there is no fee

[Z_MBFM]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano. Lugano is a city in Switzerland.This is for sure the best thing I have seen on the internet today. From my POV it is a win-win both for the buyer, the business owner, and Bitcoin. How? The buying saves money. The business owner gets an increase in revenue because they would experience sales increase. People love discounts. For Bitcoin, more increase adoption in that city.

Sincerely wish to see it spread to other cities and see more shops get involved. So, if you are in the city of Lugano, you know what to do.

https://twitter.com/LuganoPlanB/status/1664548340950769671?t=K79BxSdTKnsJ3i40ZzpNKw&s=19

They are promoting there Luga app by doing this. Yes they are doing auto promotion in bitcoin due to their attractive offer but here their aim is to promote their own apps LUGA. But such physical crypto payment is a very positive point for Bitcoin