"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency"
article published July, 5, 2017
https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients."
It makes sense that a transition to accept bitcoin would be underway for more US-based stores.
retailers will receive bitcoin when they understand the benefits of having bitcoin and accept what payments they use bitcoin, because for now few retailers know and accept payments using bitcoins.
The problem with accepting Bitcoin as payment is in the time it takes between receiving Bitcoin and converting it to £ Sterling (still a minimum of 1 to 2 hours for us) is the Bitcoin price can fluctuate wildly.
Now I keep seeing posts that argue that just holding on is fine as the Bitcoin price just goes up. This is a completely flawed argument in so many ways. For a start most business need to pay suppliers within a set time period and the said suppliers generally want to be paid in cash not BTC.
I am however seeing people accept BTC for services or electronic deliverables far more than physical objects. I think we are one of the few that accept Bitcoin for luxury items but we are doing it more to provide a service to allow people to cash out of BTC into fiat.
I know that people will be a little reluctant to sell BTC at the moment as the market has not yet seen a large crash/correction. Lets face it, most people will naturally want to hold onto something that just seems to only go up!
The people who are buying fine wine with BTC are people with very large amounts amounts who obtained it when it was well under $1,000 a coin.