Me as a BCH Gateway for a Merchant
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.
5 comments
Volatility is the biggest problem for adoption. Made a list of all the possible solutions. Check it out if some would suit you. https://read.cash/@tula_s/briefly-on-volatility-e86b8151
Yeah, I'm (personally) a huge fan of BCH, but the devastating part is how few people actually have and use BCH. There are $4B in market cap, yet it feels like almost all of it is sitting on the sidelines, never moving, never touched.
thats why projects like this site, that bring normal people in, are so important
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
nice