Post
Topic
Board Bitcoin Discussion
Re: Why Small Scale Businesses should accept Cryptocurrencies as a medium of payment
by
qwertyup23
on 17/12/2022, 17:49:32 UTC
What would be your opinion about this, OP?

It's easy to say this and that but once there's a regulation it would hinder them from acquiring cryptocurrency. There are places in the world that doesn't like the existence of crypto currency especially the Bitcoin where no single entity controls it.

If the bigger business firm would have a problem accepting/using cryptocurrency/Bitcoin, then what makes you think the small scale businesses won't have a problem either?

I think the advantage of small-scale businesses is its regulation with the laws. Given that they are only "small-scale," the some government institutions somehow waives the right for them to comply with the existing licenses as a form of support and help. A good example is here in the Philippines, street vendors are not required to file taxes as a form of privilege to the needy.

I hope the government somehow adopts the same concept with cryptocurrency when it comes to regulation. The fact that there is that potential of cryptocurrency becoming an alternative currency for their services/products, the hope still remains that it will soon be accepted as a whole.