The traditional banking system is falling apart, and with things like BRICS pay popping up as alternatives to Swift, making international sales is getting really tough. I've been waiting for two months to get paid for a $4,000 domain sale, and I'm still in the dark about it. The payment got rejected for some reason they called "treasury only" which I don't even understand, and Google's explanations aren’t helping at all.
Bitcoin was made to make international transactions easy, and it fits this purpose perfectly. But it’s also seen as a safe way to save money and a gamble for investments. Most sellers seem to overlook its original role as a payment method. I let people know I accept Bitcoin and even throw in a discount for those who pay with it. I really think we should keep this option alive for our benefit in the long run.
I am sorry that this has happened to you. Even despite evidence itself suggesting how bitcoin payment is the better and more convenient payment method, people still find excuses to not use it which only makes the recipients' lives harder.
By the time we begin to have offers like this that support for the use of bitcoin as acceptable payment currency, we are going to be free from the centralized economy controlled by our government, if we could remember in time past, one of the reasons that prompt the suggestion for an alternative digital currency was the high cross-boarder transaction and the privacy we lack from having control over our finances.
Also, government have been unfair in their regulations as the effect of inflation is another thing not to write about until bitcoin was introduced, we should all encourage and support the massive adoption for a decentralized currency and that is bitcoin for our own good.
I felt it was a new topic. The other one was really about problems with the Swift system. This thread is intended to try to persuade people to encorage payments for goods and services using Bitcoin.
I'd be more than happy to pay with Bitcoin if merchants I regularly visit accept them. Unfortunately, I don't think the demand is that big. Looks like most of them still rely on centralized third-party services to accept payments. I guess it has to do with regulations and stuff like that, too. Not sure if I'll see any changes for markets like digital game top-up and stuff like that. There's a workaround with giftcard purchased on another marketplace, but it feels discouraging since we have to interact with 2-3 marketplaces instead of one.
If as many as possible are holding bitcoin and the adoption continue to advance at each stages with the populous, then we will have no option rather than to always see the available option of using bitcoin as a payment medium, because these organizations and business we are buying from will also want to support by extending their payment in bitcoin, just to attract more customers who are bitcoin users, which we are already getting to that stage, because bitcoin today already turned a global currency and we all can be proud of using it in buying and selling.
Gonna need to agree with that, lets just say that Bitcoin is just not for everyone, we see a people who experience life changes just because of Bitcoin, and we just wanted to replicate that, or somehow we want to experience that success as well, but even though it was possible doesnt mean that it is going to happen, we know it. Not everyone is going to win on Bitcoin or crypto, we know that it is possible atleast to win on the lottery but even though we know it, and see that there are actually people that is winning, it doesnt mean that we should or we are going to win as well just like that.
Temptations in crypto and Bitcoin are always going to be there, for me it wasn't really that hard part of that, I think it was just a matter of consistency since there are always some kind of luck that is going to be involved on it, so being consistent while waiting for that luck to hit you is going to be the difficult part, I mean you could earn, take profit etc. but hitting the jackpot is going to take longer, or might never happened at all.
Wasn't it possible to sell your domain for bitcoin?
There are many registrars which accept bitcoin as payment method (njalla, namesilo , namecheap...) didnt you use them?
I never sold a domain, just bought
4k was a good deal. I wish I had good creativity to find such domain names. Which one is it? Do you mind to share?
One of the best solution to this is to offer customers a reputable local/global p2p combined Exchange-Marketplace platform for easy-to-use and quick automated/manual conversion from fiat to Bitcoin for payments of products or services. We need something that offers some kind of gurantee that this will work flawlessly, almost all the time for customers. And the platform needs to be decentralized or atleast non-custodial in order to have something that is more difficult to stop by fiat world.
The privacy of users needs to be protected on the platform, with transparent display of lawful or safe products/services, a smart-escrow system and the possibility of showing public transactions between anonymous or pseudonymous buyers and sellers on the platform.
So, if you need to sell your domain names, you integrate your service on the platform or your customers can make purchase off-platform after going through your reviews and reputation,and then rating by the customer after the deal is done reflects on the platform. By the way, everything could be done off-platform without a customer ever visiting the exchange-marketplace.
The idea of combining an exchange (the fiat to Bitcoin exch) and marketplace into a single platform is to create easy access to fund via the exchange for payments of products/services on the marketplace. The platform should be both local and global with reputable and decentralized local representatives, to make resolution of potential disputes with local and foreign customers or members possible and easy.
The fiat to Bitcoin conversion and marketplace payment should be easy and fast as possible with just a click of a button.. This could be achieved by quick funding of your Bitcoin backed token that's linked to the platform via some sort of auxiliary Bitcoin sidechain system after initial fiat bank transfer to the bank account of token funder is made, and then the payment for domain names or products is processed almost immediately without any additional button click.
I'm sorry for your pathetic experience. It's not even limited to locality, it's been a universal problem that bitcoin if widely adopted as a means of payment will easily solve. Your experience highlights exactly one of the core reasons why Satoshi Nakamoto created Bitcoin. Traditional banking rails are optimized for institutions not individuals and when geopolitical or regulatory pressure hits, ordinary users become collateral damage. Bitcoin payments remove that dependency layer entirely. The challenge now is usability and volatility management but Lightning and instant conversion tools are slowly making it practical for merchants and individuals alike.
In your last post I said that I will only take bitcoin as payment option for my service and someone argued trying to let me know that I should change my mind on that.
https://bitcointalk.org/index.php?topic=5575154.msg66433175#msg66433175
The person argued that bitcoin is optional in the outside world, bitcoin may be optional to the outside world but bitcoin or atleast USDT is mandatory as a payment option for me, because I wont want to be waiting for my payment for over two months.
Felt really bad when I heard about your situation because I have also been a victim of something like this. Although I have never sold this kind of domain name, I once had a small business deal where I was waiting for a fairly good amount of payment but the payment was not coming properly. It took around seven to ten days for the payment to finally come. During that time, I was also thinking about these same matters just like you.
But overall, for bigger amounts, it will be wiser to receive payment through bitcoin instead of local money transactions. With this method, there will be no issue in the transaction and everything can be completed within a short time. It will be a valuable and effective way for us to easily complete our deal. Without any kind of harassment or delay, this method will make it very simple to finalize the transaction.
That's the point there. If only majority of the merchants are also accepting bitcoin as a payment, then we will see higher possibility for bitcoin to act as a payment system, but for sure, this comes also with strict regulations to follow, and brings quite hassle for those who wish to pay with bitcoin.
And to think that bitcoin is making more attention as a store of value these days, thus bitcoin as a currency isn't the priority for now. Maybe this would be more possible in the next couple of years.
No matter how in demand bitcoin investment because of its high profit potentials, we should still stick to what Satoshi's original goal for bitcoin, that is to treat it as a currency as it can led to gain freedom from centralized banks and government that most of us have tend to forget because we are too focused on satisfying our greed through wealth creation and accumulation.
Now, if there won't be anyone leading this to turn this into reality, nothing will happen. Bitcoin as a payment option will remain as a myth, cause everyone is busy working out to make their bitcoin investment profitable.
For me it has been clear since the most popular alternative to transact online was Paypal. However, people still fail to recognize Bitcoin as an efficient tool to transact their money across the globe in a very practical and accessible way (and why not, also a cheaper way).
And it's important to highlight, Bitcoin should be offered as person to person payment alternative, what means transactions can be really done freely between different individuals. Otherwise, you are going to need using a third party platform which will create a lot of bureaucracy or even restrictions when sending BTC outside their platform.
Therefore, encouragement to hardware wallets adoption is also essential.
If it is in terms of efficiency and simplicity, Bitcoin is very good to be added as payment method to any business depending on the kind of business and also the regulations governing Bitcoin in the jurisdiction you are operating your business from. If it's a physical business, you can not accept Bitcoin in some countries unless your business is only based online and you can post online about your acceptance of bitcoin without going against the laws. I was advising someone to do same since there's freedom to accept Bitcoin and he can make profit if he gets paid and Bitcoin value increases, but he has not fully agreed to it due to fear.
I agree, it should be preserved because what most people think about Bitcoin, sellers and anyone who's just the normal speculator.
They all think the same and it's an asset that they have to hold as the value is stored there and appreciates over the period of time.
And if they're being told that they use it as a payment, they are not willing to. And that might be the same for us, although we understand that we like to spend some and keep the most.
I highly agree that we should encourage merchants to accept Bitcoin payment. If we want to help Bitcoin economy to boom
we must help to make Bitcoin have a real life use case not just a tool for investment.
If we have lots of stores that accept Bitcoin everywhere, the trust of thw masses will surely strengthen, making more people and money flow towards the Bitcoin economy.
Most especially international payments, yeah. There should be a strong emphasis on international. Anybody could argue that Bitcoin on-chain transaction seems pointless when buying a cup of coffee at your local coffee shop, but I guess nobody would challenge Bitcoin's relevance or importance as a cross-border payment. There's just too many players and factors involved that transactions aren't only slow but also expensive.