Post
Topic
Board Bitcoin Discussion
Re: Buying food or groceries with Bitcoin
by
samputin
on 09/07/2020, 09:32:33 UTC
Do you think that in the future it'll be possible to buy food or groceries with Bitcoin? I know that volatility is a huge issue for Bitcoin to be accepted as an alternative to traditional Fiat, but merchants and businesses could quickly convert Bitcoin to a stablecoin minimizing the risk of loss. What are your thoughts? Huh
We're not sure on what would happen in the future but nothing's impossible. There are already shops that accepts bitcoin as payment so most probably, we can also use this to buy foods and groceries. However, there are some issues that bothers merchants which hinders bitcoin to be widely used as a mode of payment.
Quote
"For the vast majority of merchants out there, just like for the vast majority of retail banking users out there, crypto is still something unknown, something they still didn't learn to trust."
"Crypro's price swings is not really conducive to merchant adoption."

-Kris Marszalek, CEO, Crypto.com

"For the mainstream, the general perception toward crypto are 'complicated to use' or 'risky to own cryptos'".
- Peko Wan, Chief ecosystem officer of crypto point, Pundi X

"Despite adding the crypto payment, 'no one has ever paid using crypto' [...] 'wary of all cryptos as there are many scams out there'".
- UK-based owner

Maybe if those factors or issues are addressed, then bitcoin may be used widely as a mode of payment.

Source:
https://cointelegraph.com/news/why-have-cryptocurrency-payments-failed-to-take-off-so-far/amp?__twitter_impression=true