Quote from: n0ne on December 17, 2022, 10:53:31 PM

Quote from: qwertyup23 on December 17, 2022, 05:49:32 PM

Quote from: Oceat on December 10, 2022, 05:29:11 PM

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.

Adoption from the small scale businesses will help with the regulation of bitcoin and it's usage around. Same time this serves to be the real growth than some corporate making its entry into cryptocurrency adoption or acceptance of cryptocurrency into business.

Usage and adoption from the low bottom leads to the real growth and progress. In that way the layman's acceptance and understanding about cryptocurrency matters a lot. This is being experienced all around the world with more Street vendors accepting cryptocurrency payments amidst the regulation and legal status of the country on cryptocurrency usage.

I totally agree with you. When big brands take any stand with respect to cryptocurrencies usage as payments, it spur a movement in the market. When Tesla decided to accept crypto payments, its value rose by 15% and when they stopped, bitcoins value dropped to approx $45,000. In such scenarios, cryptocurrencies seem a good option only for speculation. But when small businesses start adopting crypto payments, it doesnt cause such volatility and crypto can be seen as an effective payment method.

As a small business owner, I too have started accepting crypto payments with CapitalWallet as I really believe in the supremacy of cryptocurrencies as payment method. Getting paid in crypto not only helps in lowering transaction costs but businesses can also attract new customers who are willing to pay in crypto.