So I met this merchant who didn't know much about crypto currencies. I made a deal with him. This is how it went...
I wanted one place in my city that accept crypto, so if I tipped my friends and they asked me what they can do with it. I can tell them go to this store 🛒 and buy a chocolate 🍫 or 🍨 an Ice Cream.
The Search
I tried to find someone who would like to live this experience and take the risk. In my city we don't have Bitpay or similar. So I kept asking family and friends if they knew someone who has a store. I found one who was a friend of my friend 😊. I offered him this two options:
I put a deposit in advance with you like ($100) you deduct purchase amount.
You register crypto sales and I pay you later in cash.
I in return will I advertise his market in the community and tell people about it. He nicely accepted the second offer 🤝.
Setting up the scene
In few minutes I was installing Bitcoin Cash Register (BCH) App for the two employee in the store. It was so simple and easy to setup. I sent few cents to the apps and showed them how it works.
I put my wallet address in the Apps. Few days later this sticker was on their window.
The Awful Truth
Months based without a purchase or with just tiny ones. I know BCH is great but it's hard to find people who are willing to spend their crypto in shops let alone only one specific currency. I got into some issue that prevented my work on adoption for sometime. Also with price moving up and down in away that no one can expect 🎢 made it harder to try to convince my self that this could work for shops, add to that the drama that was filling the space in the past few months. I have huge hope that people who are trying move BCH forward are going to success with their new project.
Hope again
In the past few days I was surprised to see relatively lager purchase but that put an additional challenge on me. a purchase of 100 in fiat would become 90 in few hours. Waiting with hope that price will rise it went further down to 76. I had to sell as fast as possible to get them their cash without losing large percentage myself, so I had to cope with this:
Price change
Exchange fees
Money going throw my bank account
I didn't give up. To over come those issues and to move next stage to make merchants do their part I've got some ideas. I hope I'll have time to write about solutions I see very soon.
for now, stay save and healthy.
Kudos on your work! This is why we need to address the inflows challenge: https://read.cash/@georgedonnelly/merchant-adoption-is-pointless-without-regular-growing-inflows-8e8446d2