How to convince people to accept Bitcoin Cash as a payment method.

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Avatar for francis105d1
2 years ago

One thing that has been a must for Bitcoin BCH is that it is accepted as a payment method for everyone to pay their bills, goods, and services. And it has been a quick goal to achieve, and it is hard to make people accept Bitcoin BCH as a method to settle debts. It is up to the community to try to implement ways for people to take it so that we see more adoption around us in the real world.

Many people worldwide hold cryptocurrencies, but many are just using cryptocurrencies to speculate on prices. As we all know, that alone will not take far enough, only up to a point and after that no more. Still, if people accept it as it was meant to be, the possibilities are endless. Many people don't pay rent for others to do, many people buy their groceries at their local stores, and many others buy their groceries at big corporations. If you pay your rent to a local landlord or buy your groceries from a local store owner and operator by a member of your community, what I am about to write my work into is helping people adopt Bitcoin Cash as a payment method.

You can offer your landlord to pay your rent in Bitcoin Cash and offer insurance for his money. If the price of Bitcoin drops within 60 days, they can return the Bitcoin Cash to you, and you will pay him in fiat currency. The landlord will have a wallet with a balance, and if the price goes up within those 60 days, he will decide to keep the satoshis instead fiat, and you got a new person that now holds Bitcoin BCH and has a balance. If the case price drops, you can give him cash, and you will reach your satoshis back then. Your landlord will know about Bitcoin Cash and how to receive and send it.

Your landlord will also have to learn how to back up their private keys to avoid losing access to his money. It will work with the small landlord, and it will work better if your landlord owns the property and doesn't have to pay a mortgage to the bank, so they can keep it as savings after the 60 days have passed. Your landlord's responsibility and your insurance would have expired after 60 days.

It could also work for small shops where the owner knows you well. It will work with people in small villages where people know exactly where you live. You can buy, for example, $25 worth of food or groceries at your local store and offer the shop owner the same insurance that if the price drops, you will give him the $25 in fiat, and he will return your satoshis.

It could work in places where the community is small or in villages like they do in the third world, many people in those countries have known each other for years, and some have even seen them since they were children. Small communities have this advantage over big developed cities because you can't create that trust that easily. It could be developed into smart contracts for those with the know-how now that smartBCH is in the mainnet. A way to ensure people receive payments for a specific time so that more merchants accept Bitcoin Cash as a payment method.

So, in conclusion, my idea is to provide insurance to the other party that doesn't have Bitcoin Cash and will be using it for the first time. Giving insurance is a small price to pay so that others can know and try, in my opinion. If you disagree, let me know and present your ideas in the comment section. If possible, leave a like and subscribe. It is free, and it will help me a lot. I promise I will try to create even better content in the future.

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2 years ago

Comments

por el momento tengo la intención de dar información acerca de que es el bitcoin cash y como poder ahorrar en una criptomoneda, pero motivar a el uso del BCH como método de pago es una tarea que llevar tiempo, para que las personas ademas de tener el conocimiento, pierdan el miedo a probar algo nuevo y tan novedoso.

$ 0.02
2 years ago

I agree with you, its like educating them with BitcoinCash usage and functions at the same time adoptation of BCH transactions, in this way both of you learn from each other

$ 0.02
2 years ago

The idea seems pretty interesting. Ang problema lang ang volatility. Baka after 60 days bagsak masyado BCH at liable ko pa magbayad ng dalawang buwan kasi nasa kasundoan nyo.

$ 0.01
2 years ago

This will be a good idea, especially since you said in local/small villages. However, I think there should be a form of a written agreement and some witnesses operating based on the culture/tradition of that locality to avoid any unwanted consequences/disagreements. Thank you.

$ 0.03
2 years ago

Some very creative ideas here. Most wouldn't work in a city where I live, but some more ideas can sprout from here :)

$ 0.03
2 years ago

With Smartbch writing contracts is much easier it is just a matter of time before someone writes a tool to do what I wrote

$ 0.01
2 years ago