Bitcoin adoption in coming years, merchants will be left behind

[Baofeng]

I wouldn't say that merchants are going to be left out, I mean we have to understand where they are coming from. First, bitcoin is very volatile assets, if merchants are just relying on this businesses to make money, then it make sense that they won't accept bitcoin as payment. Second, if merchants wants to accept it as payment system, but if they are not technically inclined, then they might have difficulty accepting it. And with that as business owners, maybe they will have a hard time to really put the logo of "Bitcoin is accepted here" in their stores.

[hatshepsut93]

Third, merchants believe that not adopting bitcoin or crypto, will affect a business growth in future. Since the younger generation dominates the market in huge numbers. Looking at the evolution, the younger generations would become older generations. Then their offspring will also have to use bitcoin, because their parents does. It will skyrocket the adoption of bitcoin amongst users, thereby affecting business that failed to learn or integrate bitcoin in their businesses.

Adopting Bitcoin today and suffering the costs while it's unprofitable to do so just for the hope that the future generation in 10-15 years will pickup Bitcoin is not worth it. If it indeed will happen, why not adopt it then? It's not like adopting Bitcoin payments today is cheap but will get expensive in the future. It's actually more likely to be the opposite.

[AmoreJaz]

I wouldn't say that merchants are going to be left out, I mean we have to understand where they are coming from. First, bitcoin is very volatile assets, if merchants are just relying on this businesses to make money, then it make sense that they won't accept bitcoin as payment. Second, if merchants wants to accept it as payment system, but if they are not technically inclined, then they might have difficulty accepting it. And with that as business owners, maybe they will have a hard time to really put the logo of "Bitcoin is accepted here" in their stores.

they will find their way how to adopt this payment system later on if they will see the benefits it will bring to their business. as you said, for now, they are still hesitant because of the volatility factor, where a lot of merchants are not yet ready because they are relying on their day to day income. but they will come around once the adoption is much stronger among their customers and find their strategy on how to take advantage of this volatility aspect of crypto.

[panganib999]

I don't think bitcoin will ever become big in day-to-day small payments, for the simple fact that it is very valuable and will become increasingly so. For that you'd better pay for the other rubbish options you'll have to pay with, basically fiat in its different variants, such as cash, cards and CBDCs or shitcoins, when payment is implemented. Not for nothing does the article conflate 'crypto' with bitcoin.

pretty ironic considering it was made in the first place to facilitate peer-to-peer payments but whatever, I guess that comes with being a store of value at the same time. Eventually though a bitcoin fork could be  made that does not focus on the earning part of the spectrum but instead on the general purpose, maybe add in features like creating smart contracts as well, and then make it so that bitcoin's value remains as stable as possible (Although I myself don't know if this is possible or if you could do this lol). I'm probably spitfalling here but it's the closest solution we can get to in terms of making bitcoin a viable payment system. Leave bitcoin that makes money to the ones that want to make money, and those that want to use it as a payment system to those who want to make it a payment system by creating a fork.

[Blitzboy]

Your analysis of the Deloitte study is more than speculation - it captures the crypto-reality we live in today. Merchants must adapt to changing customer needs. The fact that 60% of merchants desired bitcoin integration shows increased consumer demand. Let's be honest: these merchants want to delight their customers, but their unwillingness to keep bitcoin and the integration's high expenses are overwhelming. The obligation to convert crypto to fiat shows that retailers are not entirely committed to bitcoin, which may cost them in the long run.

Bitcoin user numbers have doubled in a short time, indicating an upward trend. Merchants who neglect this trend risk disaster. Ignoring crypto's potential is a lost business opportunity and a disdain for economic trends. Of course, today's investment may be small compared to the future. I completely agree that some merchants may be left behind. It's worth considering, and the window of opportunity may be closing.

[DapanasFruit]

I don't think bitcoin will ever become big in day-to-day small payments, for the simple fact that it is very valuable and will become increasingly so. For that you'd better pay for the other rubbish options you'll have to pay with, basically fiat in its different variants, such as cash, cards and CBDCs or shitcoins, when payment is implemented. Not for nothing does the article conflate 'crypto' with bitcoin.

There remains many challenges associated with accepting Bitcoin as a form of payment and I am sure many merchants are aware of these. While many merchants are realizing that they must get onboard with cryptocurrency, this is not something that you can just decide in a day...one must have a clear and functioning platform either you established it on your own or you get involved with a third-party provider. I am hoping that soon merchants can be provided with a win-win options in case they want to integrate BTC into their business.