Ideas about Bitcoin

[Kakashi2020]

What if someone put up an online and offline store in which you could only use Bitcoin?  Would such a store become successful?  What's your opinion on this?

[EfficientNinja]

I don't think it will. As of now people still prefer other types of payments. Debit and credit cards, PayPal, etc. Bitcoin and other cryptos would be a great payment option but not as a sole method of payment today. Maybe in the future, many have already adapted to crypto.

[Kakashi2020]

On 7/15/2018 at 6:04 PM, EfficientNinja said:

I don't think it will. As of now people still prefer other types of payments. Debit and credit cards, PayPal, etc. Bitcoin and other cryptos would be a great payment option but not as a sole method of payment today. Maybe in the future, many have already adapted to crypto.

I think that by having stores that only accepts Bitcoin would help legitimize it further and if someone opens up one, others will follow.

[cks003]

In any business we need many people or consumers and to encourage demand of our goods, we need to have high quality product and service.  If one were to open a business and accepting solely virtual currency without considering the welfare of the consumers, regardless of it accepts virtual currency or not, it will not be successful.  Furthermore, given that the acceptance of virtual currency is at its nascent stage, the business will be crowded out by those who accept both fiat money and crypto coins.  Therefore, payment with virtual currency or not is not important, the welfare and satisfaction of the consumers are most vital to the success of a firm.