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Merchants will have to pay their taxes, labours, suppliers and rent in Fiat
That's where this is wrong, exactly at the root. There will be no change until the majority of us continue believing in this.
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There will be no change until the majority of us continue believing in this.
Not the majority, but the most economically powerful and influential suppliers (I already gave examples) demand hard money in exchange for their produces.
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As always, it is the critical mass and network problem. Merchants will have to pay their taxes, labours, suppliers and rent in Fiat, hence accepting Bitcoin just adds a layer of complexity, which I sort of have to agree with.
That is why I always believe the most positive signs of adoption would be when the goods
are available via Bitcoin and those merchants discount it, then it will trigger a stronger avalanche than small consumer facing businesses. Here are some present examples and some others that I hope to see.
But I myself have not checked whether they have outrageous mark-ups like my example in the original post.
I am hoping some copper, Aluminium, oil refiners, steel makers, ship builders, Lockheed Martin or Boeing, some cement companies, NextEra Energy etc. will get on-board with Bitcoin settlement (especially for global payments and final settlements worth like ~100 BTC or such).
They can have more base layer (pun intended) impact than cafes selling a latte or pizza for Bitcoin. But I will always wonder, what (if anything) will give them the nudge.