What happened to retailers accepting Bitcoin?

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I can’t remember how many years ago now, but when Bitcoin was all the hype (well when ever was it not a hype?) a lot of retailers and food outlets were accepting payments in Bitcoin. These places had QR codes for their wallet addresses and the Bitcoin logo on the front counter. My question is...where have they gone now? I can even recall a “Bitcoin ATM” in my town (small city in regional NSW, Australia). The ATM allowed you to buy Bitcoin or sell it back for cash. This has now disappeared too.

Perhaps there was a lack of interest in the community? Or is it because the “community” is predominantly online and transacting with a sense of anonymity? Another reason could be that the average folk see this internet money as too confusing and risky. But with apps such as CoinJar, sending and receiving crypto is as easy as sending emails. We don’t expect people to send email via complicated commands—sending and receiving crypto can be as easy as email too!

It would be great to see crypto payments at brick-and-mortar venues again. I’d gladly pay for my iced coffees with my “internet money”.

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8 comments
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Hello friend, what happens with Bitcoin is that many people have been scammed by platforms which want to make Bitcoin profit look very easy, they involve you, they tell you that they will improve your economic situation, and indeed they do, they let you withdraw three times at most and then say that the platform is having problems and keep you with the same story, until finally they only offer apologies and tell you in your face that your money is lost in the most blatant way.

I follow closely the fluctuation of the Bitcoin as I have some other, but because of such cases has lowered the reliability in the currency, and will be on the part of entrepreneurs and visionaries like you and me, give the good reputation and position that had long ago as you say in your post, blessings, be well.

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I think it's because bitcoin is essentially useless as a currency. It was a great proof of concept, but in reality the throughput of the network will never come anywhere close to being able to handle a reasonable number of transactions per second. Minor improvements might be made, but bitcoin will never overcome the fundamental problems around the proof of work approach to blockchain.

Ethereum does a bit better, but is also nowhere near capable of being a real currency.

Hive is a good candidate to be a useful currency, and so is EOS. The capabilities of the chains are just so much higher.

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I forgot about this! And the fees as well. Hive is of course a great candidate along with others that are much faster.

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Nobody wants to part with their Bitcoin now. Hence retailers also habe lost hope in receiving a transaction in BTC and moved on. I'm still accepting BTC in my store but of course nobody has ever paid me with it.

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