This is a question I started asking companies about a year ago, in early 2013.
Back then, I knew there was little chance people would even take a little time to learn about bitcoin, let alone implement it in their store. Some business owners were even outright hostile of the idea.
Now with Overstock’s recent adoption of bitcoin, it’s a whole different story.
Just before this happened, I walked into a small mom and pop shop here in my city, with my bitcoin shirt on, and struck up a conversation about the new global digital currency. Long story short, they said, “Soon as a customer comes in here and asks to pay in bitcoin, then we will consider it.” Regardless if that was just what I was doing, I knew they will need to hear it from more than just one customer who is enthusiastic about bitcoin.
I challenge you to start asking everyone you transact with if they accept bitcoin, from the online retail giants to the little local shops.
Trust me, I know that Bitcoin will not be accepted overnight by all retailers, just as this was the case with Checks, Credit Cards and Debit cards, who still can’t boast a 100% adoption rate. But, the more we talk to them about it, the more pressure there will be for them to look into the wonderful properties of digital currencies and how it can help their business.
There are now companies that will instantly exchange bitcoin payments over to the merchants native currencies at extremely low rates of 1% or less, like coinbase and bitpay, who make workflow adoption seamless. When businesses that run on small profit margins hear about this, it definitely raises an eyebrow as this has the potential of doubling or tripling their gains on a majority of their transactions – since they currently pay 3% or higher in fees.
Large companies usually pay lower transaction fees than previously mentioned because of their volume, but incorporating bitcoin would lead to millions of dollars of banking fees being shaved off their bottom line as well.
Bitcoin is a win win for everyone, especially for those who hold a little bitcoin as we saw around a 7000% increase in it’s value in 2013 alone.
Instead of awkwardly standing in silence the next time you are checking out, #MentionBitcoin.
Update: While writing this article, Arvixe, who I’ve asked, just responded that they now accepting bitcoin!! Bam.
More at: www.arvixe.com/bitcoin-hosting
Show everyone who you are asking, using hashtag #MentionBitcoin!