Bitcoin payments, processing and exchange services are now reachable for all. Open new markets, no charge backs, instant payments, secure and more. Still its not going fast into the mainstream. Why ?
Bitcoin is highly risky payment options and haven't considers by most of the webmasters or marketers. I think it will take some time.
This is probably because they didn't see the potential it has even the fact the 1 bitcoin is equivalent to $400+.
Bitcoin is still highly volatile, from the time when a merchant is getting paid for selling a product at a certain btc/usd rate until the day the merchant turns those bitcoins into cash the value of bitcoin could go down and the dailty volatility is higher than regular currency markets (forex) No large merchant, online store, will exchange the bitcoins received for a payment after every transaction (especially if they have thousands of purchases daily), they will exchange once per day or once per week, so 5% decrease of Bitcoin value could turn into a loss
while its true, accepting today will still make t hem gain as later its value will go up, today 1 btc=450+. while months ago its was just 250usd. they could have doubled their investment. there are speculations that btc's value will reach 5k usd now that China is into it.
Well, The market acceptance has definitely increased in past 2 years. I think people are not using it due to the fluctuation in the value of money you have on it. Also, You don't have withdraw to bank options or adding money to your BitCoin using a Credit/Debit card. You need exchangers for them. And then you have to give a little commission for exchanging & then reliability of the exchangers is another issue altogether.
The volatility is a pain but it's not the reason why BTC hasn't taken off. Payment systems are consumer driven technologies, with a few exceptions normally related to security like EMV. No matter how much they want it, merchants don't get to decide what their customers pay with. If a business doesn't accept the payment method that their customers prefer, their customers will find another place to shop. Mobile payments are another good current example. Banks and tech companies are trying to push them on both merchant and consumers and even after almost a decade of trying, it's all but a failure at this point. If every person with a smart phone up and decided tomorrow morning they wanted to use the phone to pay for purchases, there's be a massive migration to accept phone payments. Bitcoin solves a problem that doesn't actually exist to consumers. Certain businesses can greatly benefit from it, but why give up basic consumer protections that I get from my credit card company, or even my bank, for a more complicated and irreversible transaction.
We accept Bitcoin, but others don't, knowing how volatile it can be, and also that suppliers don't accept BTC generally.
I work with Bitcoins for a very long time. Why? 1. Risk free, no refunds. 2. Quick transactions. We use BitPay. 3. Very low fee's to get money to bank. Believe in me, there no better way to get payment. We are web hosting company.
Many people still doesn`t know about BTC . We need to wait a few more years until BTC will be popular.
They should probably start now for later the value is going to rise and they may not ever see it go below $500.
Maybe... But i don`t know if it will grow to much the BTC price... I mean, it will not be again over $1000 like it was in the past... Although, it will be more stable in the future, as normal currencies.
BTC was $1000 too, and then it was $400. Yes, you can wait until it gets back to $1000 but that might be years ahead. You need the money to pay for your suppliers, advertising etc. I tried BTC on my site but no one used it and them removed it. On the websites that I saw using BTC as a payment alternative, the price was way higher that the USD one. This might be because they also fear volatility and want to take profits for being early adopters. I don't see a reason to use BTC if it is a legal transaction and money using to pay are also from legal transactions. To pay with bitcoin, I have to go to a bitcoin exchanger to convert the money. He will take a nice commission. Then I send the money to the website I am buying for. He will also have to go to a bitcoin exchanger to convert the money. More commissions. The problem is that these commissions are added to the paypal and bank commissions, unless you can find someone local to convert the money. I was a promoter of bitcoin when it appeared, but I am very sad right now to see a lot of scamers that are trying to extort people on the Internet, and they can do it efficiently because they use bitcoin that can't be traced.
the fees for converting/cashing out your btc is less than a dollar unlike using paypal, why cry for it. why do you think there are services like bitcoin mixer? its because bitcoin can be traced. in fact banks are trying to create their own blockchain because it can tracked funds, probably use for government officials.
Converting/cashing out BTC it can be indeed cheaper than PayPal or any other ... Depdens if you know where to convert/cash out your BTC
How can you said that its not going fast? In my opinion, Bitcoin should be fast because of its platform.