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     8 years ago (edited) 

    then they would need to set a huge monitor on the premise like how there's a big monitor at airports or money exchange shops which displays rate of every currency.. that would require more investment and also work efficiency will fall or they would require a new employee doing that task.. for now it's a long process.. moreover then that bar would also need their supplier to accept the same payment method right? it's costly for every individual business to do that on their own.. rather a bootstrap can make it possible.. but businesses shouldn't do the investment.. my friend who owns a small shop recently got offered by visa to setup a payment system at his shop and all the technology required was sponsored by visa.. crypto doesn't need big hardware for wallets to store or send currency.. but think about the business.. the business needs to pay to their supplier.. need to pay wages to workers... moreover businesses are also required to pay tax and vat and their electricity gas water etc etc bills.. do you think municipalities would accept crypto? Anyway what I'm saying is that someday we can use crypto for such payments but the responsibility of bootstrapping is not for individual businesses rather crypto developers and whales have to play that main role.. more education is needed and more teachers are needed who would teach crypto to others

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     8 years ago  

    I will explain in another way:

    Assume 1 Steem Dollar = $1.50 NOW

    So the cost of your beer is $3

    And so you paid him 2 Steem Dollars.

    Tomorrow he has to pay his supplier.

    But Steem Dollar fell now 1 Steem Dollar = $1

    He needs to pay his supplier $2.5

    Yesterday he received 2 Steem Dollars for $3 but now because of the change he has to give 2.5 Steem Dollars to his supplier for $2.5

    Now this is a funny thing making losses like that.. and not like his supplier will say ok sir pay me later when Steem Dollars becomes $3

    This model of pricing products and accepting a currency that can go up and down every minute is silly especially doing business which requires stocking fast moving consumer products.