When thinking about #incentives around #bitcoin finding
- the hodler / investors / retail wants or should want to keep the BTC
…that´s not really anything new.
- merchants should want to prefer to accept bitcoin payments
…but this is not really happening. The questions is - why? How to help it?
1. I checked with several small enterprises. Reason given they don’t support is because of its volatility.
A solution to this is one where on settlement it converts to their fiat, at fraction compared if they were to use visa, instead.
2. Some who do support it initially, did not have an increase in customers or rarely, so they discontinued.
A solution to this is to start on islands where there can be concentrated demand. I stayed in one, it was pleasure to use lightning from haircuts to dinner.
3. Small enterprises don’t have the bandwidth for tax implications and treating. Most places regulations are grey. They can’t deal with that headache.
A solution is industry specific meet-ups where accountants show them easy reporting, but it will still be a problem.
4. A general mistrust of bitcoin as ‘crypto’.
A solution is industry specific meet-ups by ceos where trust is drummed up through peers.
Great and valid points!
add 1,
So the message should,
use LN, convert immediately to FIAT and save on card providers fees.
add 2,
I wonder where is such an island?
Anyway, the message here is,
look, ppl usually do not want to get rid off their bitcoins, btc is way better to store a value than fiat, so that you have to learn and motivate them to pay with it - a discount, loyality program, etc.
Island solution will not work everywhere :)
add 3
understandable and annoying..
I think it requires some early adopters as examples for others to follow..
I see some, but still they do not motivate customers to use bitvoin instead of Fiat..
add 4,
yeaa, crypto bring a lot bad examples and I understand bitcoin is in the same basket with it..
There are scams around bitcoin as well and that´s even worse than bad light of crypto.
Only way here is education..
Well, the summary in my eyes is - it is the merchats and enterprises turn to adopt
