• schmidtster@lemmy.world
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    1 year ago

    Do you not have stores that let you pay with bitcoin and other crypto? It’s a thing in Canada atleast.

    • Ibaudia@lemmy.world
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      1 year ago

      There are but virtually no one uses them, and I’m sure if they did they would take it away the due to the aforementioned issues. It’s just kind of a mess. It’s not not a good vehicle for commerce and it never has been.

        • Ibaudia@lemmy.world
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          1 year ago

          It works as a marketing strategy to virtue signal to tech fetishists, but nearly no one actually uses these services.

          • schmidtster@lemmy.world
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            1 year ago

            Can I see your statistics on Crypto POS that you used to come to those conclusions?

            Starbucks accepts crypto just so you are aware, it’s far more common than you are leading people to believe.

            • Ibaudia@lemmy.world
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              1 year ago

              Then please provide evidence that these services are actually being used if you are so confused convinced that is the case.

              • schmidtster@lemmy.world
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                1 year ago

                The burden of proof is on you for making the original claim, I’ll provide stats once you do. The mere fact that these companies exist and have provided these services for years should ample proof to most people who want to have a discussion.

                • Ibaudia@lemmy.world
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                  1 year ago

                  BTC processed 93.1 million transactions in 2022 while Visa (just Visa) did 192.5 billion. Not very popular as a payment method for sure.

                  Edit: To be clear this the 93.1 million for BTC includes crypto-to-crypto trades.

                  • schmidtster@lemmy.world
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                    1 year ago

                    Wow, you said no one used it…

                    It’s funny, POS for most cryptos actually have cheaper fees than some other forms of payment, square wants 3.5% to charge a credit card, most crypto POS are sub 2%….

                    That’s also, what one of 100s of companies? It adds up.

          • schmidtster@lemmy.world
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            1 year ago

            It doesn’t matter in the sightest…. If it takes 5 bitcoins or .5 bitcoins the shop still gets their $1.50 for a coffee minus their fee…

            I’m sorry you can’t comprehend how this system works and is viable in lots of places.

            • Flying Squid@lemmy.worldM
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              1 year ago

              If 5 bitcoins is suddenly worth 3 bitcoins, the exchange rate will change and the company will lose money. It’s a major gamble.

              • schmidtster@lemmy.world
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                1 year ago

                Huh…. just like any other currency/foreign currency already…

                It doesn’t matter to the store, and these companies that provide the services are making profit or they wouldn’t be around anymore.

                They charge less fess than credit card companies, they get a cut from every sale, just like credit cards do…

                It’s a viable business sorry mate, bark up a different tree.