Trade Magazine: Retailers refuse to rise

nnnStorm when comment: Bitcoar market rose for investment is a good thing, but it increased the cost of bit brush use. Especially the small-scale low-cost transactions using bitcover threshold is higher. So retailers are reluctant to accept Bitcoin payments. Indicating that Bitcoin is more of an asset than an functional currency. But Bitcoin payments are growing in Japan.n
nnTranslation: Annie_Xun
nMainstream online retailers have been slow to use Bitcoin, and prices and concerns have risen rapidly recently, and their usage has continued to decline. Fewer retailers accept Bitcoin payment patterns, not more.n
nInternet Retailer reported that last year five of the world’s top 500 retail outlets to accept Bitcoin payments, now reduced to three.n
nWhere is the growth?n
nJames Faucette, an analyst at Morgan Stanley, argues that the imbalance between the growth of Bitcoin and the acceptance of Bitcoin is puzzling. He believes that the value of Bitcoin is actually one of the factors that lowered its functional currency.n
nn”The appreciation rate of the bitcoin makes it impossible for the holder to use the encrypted currency, which proves that the bitcoin is more of an asset than the currency, and it is easier to convince the new business to accept the encrypted currency and speculative trading.”n
nnSo the fact that people prefer to use Bitcoin as an asset rather than a functional currency means that retailers are under little pressure to pay them as a way of paying.n
nSlow and expensiven
nBitcoin faces some of the problems that make it difficult to apply to everyday shopping. Diffusion controversy continues to ferment, as it is clear that when the volume of the chain is too large, the bitcoin starts the stuck.n
nTrading speed, cost increases and other issues on the retailer to combat more than consumers. Trading prices hovering around $ 5 will have a significant impact on retailers who must bear the cost.n
nHigher than the market pricen
nWhen these costs are too high, they will cut a large part of the retail market, because the use of bitmins in small-scale low-cost transactions is unreasonable.n
nBruce Fenton, founder of the Atlantic Financial, Bitcoin Foundation Board of Directors, says sandwiches and coffee are not viable bitcoin markets because the cost may be higher than the cost of goods.n
nn”The problem is too high to bring some goods pricing is higher than the market price.Everyone to some small transaction cases, for example, indicating that the price of bit as a result of small commodity pricing higher than the market price.”n
nThere are still some success storiesn
nOf course the retail and Bitcoin are not all bad news. Bit currency in the Japanese store usage is rising. Retailers Recruitment Lifestyle has used the Point of Sale app to provide Bitcoat payment support for 260,000 stores. Its famous electronics market, Akihabara, is also actively using Bitcoin.n, a US retailer who uses Bitcoin, has announced that its use of Bitcoin has tripled since the beginning of 2014.n

Leave a Reply

Your email address will not be published. Required fields are marked *