Post
Topic
Board Bitcoin Discussion
Re: bitcoin transactions - Slow OR Fast
by
1Referee
on 10/01/2017, 08:34:49 UTC
But nowadays if you look at the shops you will find that even in third world countries people like to use digital system of payment (for example bank cards) even in local shops which have ATM for the reason of security and as these cards are from banks so they have a good fees. In that case if people know about bitcoin then they will adopt it for their shops because bitcoin is a digital currency with digital way of payment and do not involve any third party and is available with lowest fees.

Merchants have no interest in accepting Bitcoin as form of payment without a third party payment provider in between. Mainly due to the fact that there is plenty of volatility that they will be exposing themselves to. That's why it's a safe bet for them to use a payment provider that will convert any incoming Bitcoin transaction directly to fiat. That aside, people from third world country find it worthwile to farm their way through faucets for 500-1000 satoshi rewards. How do you expect them to keep up with the average transaction fee of at least 20,000 satoshis? Especially when it comes to buying their daily needs in their local area.