✳️ Holidays On Bali #3 - Why Isn´t It Possible Yet To Buy A Beer With Crypto???

steembusiness (69) in cryptocurrency • 7 years ago

It's about time that people get to know about crypto and will start accepting it. It's a pitty that you can't pay your beers with crypto yet 🙈

Just today I've been sitting at the hostel bar (once again) enjoying some cold beers with fellow travellers. Well at a certain point I ran out of cash and as nothing else gets accepted here I had to get upstairs first to get my wallet...

That might sound like a luxury issue now but I guess some beer lovers out there understand me and my hopes to be able to pay for a beer with cryptos. I mean I could have transferred some SBD within seconds 😉

The more I keep travelling in cash dependent countries the more I realize how easy the life could be with crypto payments. Oh and of course how many card/withdrawal fees we might save through that...

So to all Bar Owners out there, please start accepting cryptos 😉 Start the Revolution

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7 years ago by steembusiness (69)

$36.98

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skreza (61) · 7 years ago (edited)

one of the reason why we can't use crypto to buy everyday necessity is because of the price of the crypto itself.. the value of cash can remain the same for a long period.. inflation of cash happens from natural disasters or from government monetary policy change normally when the parliament of any country does it's annual budgeting. That's why businesses can do their pricing strategy and keep it for a longer period of time.. but now with crypto exchange rate going up down up down everyday..no wait every hour or even every minute.. do you think a bar will print their menu card and price of items every minutes?

This is just my explanation why we can't use crypto.. there are also other issues.. for example perhaps the bar owner don't even know what is crypto.. how long did it take you to understand what a crypto is and then to master the art of trading or investing? There could be several other issues and I can write a book on that but for now just ask the bar tender or manager why they don't accept crypto

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steembusiness (69) · 7 years ago

Why not tie the crypto amount to the dollar price, so that you always pay according to the exchange rate?

$0.00

1 vote

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skreza (61) · 7 years ago (edited)

then they would need to set a huge monitor on the premise like how there's a big monitor at airports or money exchange shops which displays rate of every currency.. that would require more investment and also work efficiency will fall or they would require a new employee doing that task.. for now it's a long process.. moreover then that bar would also need their supplier to accept the same payment method right? it's costly for every individual business to do that on their own.. rather a bootstrap can make it possible.. but businesses shouldn't do the investment.. my friend who owns a small shop recently got offered by visa to setup a payment system at his shop and all the technology required was sponsored by visa.. crypto doesn't need big hardware for wallets to store or send currency.. but think about the business.. the business needs to pay to their supplier.. need to pay wages to workers... moreover businesses are also required to pay tax and vat and their electricity gas water etc etc bills.. do you think municipalities would accept crypto? Anyway what I'm saying is that someday we can use crypto for such payments but the responsibility of bootstrapping is not for individual businesses rather crypto developers and whales have to play that main role.. more education is needed and more teachers are needed who would teach crypto to others

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1 vote

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skreza (61) · 7 years ago

I will explain in another way:

Assume 1 Steem Dollar = $1.50 NOW

So the cost of your beer is $3

And so you paid him 2 Steem Dollars.

Tomorrow he has to pay his supplier.

But Steem Dollar fell now 1 Steem Dollar = $1

He needs to pay his supplier $2.5

Yesterday he received 2 Steem Dollars for $3 but now because of the change he has to give 2.5 Steem Dollars to his supplier for $2.5

Now this is a funny thing making losses like that.. and not like his supplier will say ok sir pay me later when Steem Dollars becomes $3

This model of pricing products and accepting a currency that can go up and down every minute is silly especially doing business which requires stocking fast moving consumer products.