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

[mvdheuvel1983]

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

[Odusko]

This is a motivating cashback and a good way to attract customers to adopt Bitcoin as payment in those shop Switzerland is one of the Bitcoin-friendly countries, and its regulations on Bitcoin is flexible which is a good point to start with for businesses.

10% is a tempting amount of percentage that most Bitcoin users in that region will take advantage of, and buying in large quantities from those shops will be the ones to earn a lot of returns on their shopping spending via the cash back, I will like to know if those shops have international shipping service and if possible we can have a link to the website of one of those shops to see what product the deal on.

[NeuroticFish]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano.

I've noticed the news in the feed, but since no source link was provided (on Twitter) one question did remain in my head: since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

[Yogee]

[....]
since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

It's like a loyalty program offered to Lugano app users. The 10% is not in BTC but in a token called LVGA so yeah you may need to input your personal details into the app first before you could receive those cashbacks. It doesn't look like there are other wallets that supports their token.

[Adbitco]

You made mentioned of 250 shops in lugano?
Wow this is quite impressive seeing that about the above mentioned shops are accepting bitcoin payment, meaning this is calling for max adoption in that country. But how do we get stat from that country that they are actually accepting bitcoin because I believe what ever information being shared here are hardly to be known, maybe anyone from that same country can attest it to be true. But nonetheless, this number is really encouraging meaning if we could have something like this across the globe then nothing stops bitcoin from being legalized because I know too well that even the government that refuses to legalized it are directly or indirectly taking part of it but may not opening say they are involved.

[avikz]

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.

Today morning someone argued that BRC-20 tokens are going to help bitcoin adoption. I strongly disagree with that. Ordinals are not good news for bitcoin. But adopting it as a payment processor with 10% cashback offer will go a long way if it gets right promotion.

[mendace]

Lugano is a beautiful city that is experiencing a good period when it comes to Bitcoin.  The administration has decided to support btc and every year (twice this year) organizes the Plan B Forum where many very important speakers meet to talk and make this technology known to the public.  I think Lugano has a very prosperous future ahead of it.

[lionheart78]

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.

The thing is cashback isn't given in Bitcoin but rather in LVGA as Yogee stated.  So the marketer is hitting two birds in one stone here, marketing Bitcoin and at the same time giving their Payment system apps an exposure.  If anyone isn't familiar with LVGA coin here is a brief description.  More or less this is a wallet application advertisement

LVGA are a local stablecoin. They can be purchased within the MyLugano app and collected through the cashback while shopping at local affiliated shops. Unlike other cryptocurrencies such as Bitcoin LVGA can be used only in Lugano and once obtained they cannot be exchanged or traded for other currencies. LVGA are not subject to fluctuation being "pegged" to the Swiss franc. Thus, they have no speculative intent but exists solely and exclusively as a form of incentive for local spending in Lugano.

And you can find more information in this site: https://my.lugano.ch/en/

Today morning someone argued that BRC-20 tokens are going to help bitcoin adoption. I strongly disagree with that. Ordinals are not good news for bitcoin. But adopting it as a payment processor with 10% cashback offer will go a long way if it gets right promotion.

At the current state of the Bitcoin network, I also don't think BRC 20 token give a positive effect on Bitcoin adoption.  No one wants a congested high transaction fee cryptocurrency.  If the high fees and network congestion continues, people will look for an alternative.  BRC-20 is only giving benefits to the miners but gives problems to Bitcoin users.

[Z-tight]

I've noticed the news in the feed, but since no source link was provided (on Twitter) one question did remain in my head: since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

You are correct, the cashback is not even for BTC payment, but for payments in LVGA.

Customers can pay with any wallet supporting USD₮, Bitcoin Lightning and LVGA, and even benefit from 5% to 10% cashback when paying with Lugano’s loyalty LVGA token.

The City of Lugano and Tether are working to make crypto payment popular in Lugano, this initiative called the plan BTC initiative is not exclusively about BTC. From the source i have they are working with crypto payment facilitator GoCrypto to help the merchants accept BTC lightning, Tether and LVGA transactions fast and conveniently through their pos terminals. Nevertheless, it is not a bad initiative, and it is good for crypto adoption, this is the link ^[1] to read more about it:

[1] https://gocrypto.com/blog/get-onboard-the-crypto-payment-train-in-lugano-switzerland

[KingsDen]

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.

[jrrsparkles]

[....]
since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

It's like a loyalty program offered to Lugano app users. The 10% is not in BTC but in a token called LVGA so yeah you may need to input your personal details into the app first before you could receive those cashbacks. It doesn't look like there are other wallets that supports their token.

So it's their own token can be stored in their own wallet and can be used for paying with your next purchase in their platform so it's kind of business module that's in practice already but they choose Bitcoin to get more attention.

I don't believe in discounts and cashback because no one is going to sell a product for loss unless they have ways to make money in future.

[Z-tight]

So it's their own token can be stored in their own wallet and can be used for paying with your next purchase in their platform so it's kind of business module that's in practice already but they choose Bitcoin to get more attention.

It is an initiative between Lugano, Tether and GoCrypto, they want to promote crypto adoption in Lugano, so what they are doing is partnering with GoCrypto to distribute their pos terminals to merchants in order for them to accept payments in usdt, BTC Lightning and LVGA token which is a stable coin that can only be used in Lugano^[1], the mention of BTC surely gives their initiative more attention anyway. The cashback can only be earned in LVGA stable coin which is pegged to the Swiss Francs and can only be bought in the MyLugano app, take note that LVGA cannot be used for anything except payments within Lugano.

I don't believe in discounts and cashback because no one is going to sell a product for loss unless they have ways to make money in future.

Some businesses that accept BTC do give a little percent discount on BTC purchases, but they do this for a short time to see how their customers react.

[1] https://my.lugano.ch/en/lvga/

[Obari]

This is a nice initiative and a welcome development  for bitcoin  in Switzerland  because it will  also help  to spread  and promote bitcoin  in the country.
But I will also want to know the terms and conditions  in these purchases and if the purchase  might require the buyer to use a special kind of wallet or do anything extra  or beyond the normal  and casual bitcoin  transactions  or will it get to do with kyc if yes for any of this then I don't think many people especially  those of them that take their  private crucial  will want to give it a try.
Nevertheless,  its a nice initiative.

Lugano is a beautiful city that is experiencing a good period when it comes to Bitcoin.  The administration has decided to support btc and every year (twice this year) organizes the Plan B Forum where many very important speakers meet to talk and make this technology known to the public.  I think Lugano has a very prosperous future ahead of it.

If there are users who .amen this great testimony  about  the city then I don't think this advert is actually a big deal for its citizens as they might have seen simply  offers within.

[coupable]

The update goes thus, get up to 10% Cashback by paying with Bitcoin in more than 250 shops across Lugano.

I've noticed the news in the feed, but since no source link was provided (on Twitter) one question did remain in my head: since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

There is also a slightly deeper question which also  did remain in my head : which is the tax status of those stores that accept Bitcoin payments, and how the state will be able to deduct taxes on those transfers. I do not think that Switzerland has established an automated system to monitor these transfers, nor do I imagine that Switzerland is tolerant with those shops, even if it is a crypto-friendly with regard to individuals.
The application of these discounts at a specific rate to all stores raises many hypotheses as well, which remain ambiguous. In addition to all the issues related to privacy and how these attractive offers can enable the regulatory authorities to track the financial activities of both individuals and small companies (Shops) .

[Nwada001]

[....]
since it's not a rebate, but a cashback, is some special wallet or software needed for this? You know, it may be, and probably identity-linked, and then the privacy conscious people may just pass this, having yet another great thing that's only on paper.

It's like a loyalty program offered to Lugano app users. The 10% is not in BTC but in a token called LVGA so yeah you may need to input your personal details into the app first before you could receive those cashbacks. It doesn't look like there are other wallets that supports their token.

Yeah, like they are saying... Give me your identity and private information and get a chance of getting a 10% discount on all your purchases using your identity, because that's how it seems to me.

If they want to promote crypto currency, then they should do it the other way around, since the bonus is to come from the LGVA payment only. Since they are able to create a working and functional token that could be used as a means of payment, they can still use that method, which increases the usage of the currency, but this time no KYC should be mandatory, and such a bonus should also be applied to every other currency used as payment, provided that it's being paid from the appropriate app.

Anyhow, it's good to have businesses actually recognize the use of crypto currency, no matter how little it shows that adoption is rapidly growing even if all payments are not directly Bitcoin-related.

[franky1]

its not a 10% bonus or a 10% discount on BTC purchases

its a hand a custodian your BTC. they change balances of their users (customers and merchants) and then they give the customer some valueless token thats not bitcoin and pretend the token is worth 10% of bitcoin

heres the thing about bitcoin..
if there is no bitcoin txid with confirms. means its not a bitcoin transaction

also.. "mylaguna"(3AC) is a subnetwork of the ethereum network.. so yea. definitely not bitcoin

if you want to be a sucker and hand a custodian your BTC and be handed back some pointless token on some subnetwork of ethereum.. go ahead. but atleast dont pretend to call it bitcoin

the 3AC network is not a open decentralised blockchain of PoW
its a centralised private network using a centralised governance(PoA)

[GreatArkansas]

The best way to advertise or promote Bitcoin is this way, people that don't know what Bitcoin is will become curious here.
One of the pros that doing this is more Bitcoin rewards, a more convenient way to pay for your purchases.
More places will follow this bright idea to promote Bitcoin for sure, it's a big help for entire Bitcoin community.

[Nrcewker]

Now that’s a great news to be see. I am really impressed whoever proposed this idea among the shop owners. I mean this will help new people to discover about Bitcoins for the 10% cashback. This will also help the shop owners to collect Bitcoins whose values are increasing as the days are passing. I would love to know about it more, like what’s the status till now, how many have availed the cashback and are they happy or not. Moreover these types of offers can only make more people dive into these crypto space.

[ancafe]

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.

[SquirrelJulietGarden]

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.

If I am not wrong and based on what I see in the photo, the business only run that cash back program with Bitcoin Pizza day. They are a Pizza store and take advantage of Bitcoin Pizza day to attract more customers to their store.

Like in Bitcointalk we have Bitcasino.io with their $50 give away to anyone who order pizzas and make proof with photos. They will pay back $50 to those users directly in accounts on Bitcasino.io.

I will like more if the pizza store do cash back in Bitcoin. You come to our store, order and eat pizzas and get 10% cash back in bitcoin, not in cash. They can use Lightning network to do cash back in bitcoin. They can do two options for cash back: cash and bitcoin.