Paukenschlag im Schweizer E-Commerce: Der grösste Onlinehändler des Landes führt Kryptowährungen als Zahlungsmittel ein – und macht sie damit massentauglich. Hier sind die wichtigsten Fragen und Antworten.
Switzerland's largest retailer (Digitec Galaxus) is reportedly accepting bitcoin, according to https://t.co/1Zg2qnBD2z, a major Swiss publication.
Local users say Digitec is bigger than Amazon Switzerland.
Great to see merchant adoption addressed.
Digitec Galaxus is the largest online retailer in Switzerland. In 2018, the company reported a revenue of 992 million Swiss francs. This shows the importance of a major online retail giant starting to accept cryptocurrencies. This will come as a boost to the crypto and blockchain community in Switzerland.
Was ist der Mindestbetrag, um mit Kryptos zu bezahlen?
Mit diesem Mindestbestellwert werde die Wahrscheinlichkeit einer schnellen Zahlungsbestätigung erhöht, sagt Digitec-Galaxus-Sprecher Alex Hämmerli.
There's a minimum payment amount of 200 SFR (200 USD). Reason? In order to "increase the probability of fast confirmation".
What on earth? Is this a reaction to BTCs high fees? If so this pisses me off and should only be the case for BTC, not the altcoins which don't suffer this problem.
My average shop at Galaxus is about CHF2'000! And at Digitec, probably more, so this minimum doesn't bother me at all. Free shipping starts at CHF100 anyway. Apart from food (Migros), petrol (Avia) and clothing (Zalando), I buy almost everything from there.
Shipping is always free on Digitec, for Galaxus it's starting at 50 CHF. And how often do you order? Once a year, or are you just crazy rich? Because I don't think any normal working person would spend 2'000CHF every other month, what would you buy for so much money? A new TV or PC every other month?
Yeah, maybe just once or twice a year on average. I'm buying mostly LEGO from them, but I also use them for almost all electronics purchases too. But I normally check toppreise.ch first to make sure it's in the ballpark. In any case, average salaries are indeed quite high here, and I don't think I'm even above average in terms of discretionary spending.
Correct. I just bought some groceries:
Tomato soup 3.80
Lentil salad 4.50
6 eggs organic 5.05
1l OJ 3.50
2 can beer 0.5l 3.80
Window soap 2.95
1 cucumber 1.95
Soy drink 1l 3.80
Rice drink 1l 2.95
Cherry tomatoes 350g 4.80
At the end of the money there is so much month leftover...
Switzerland does not have capital gains taxes. So even for crypto trading and not just purchases you don't need to keep track of transactions. Just the total worth you hold end of year is important for wealth tax.
He added a payment processing service that accepts crypto.
There are zero advantages in using crypto this way. Which is not surprising, cause it's the same fucking principle as we already have it, i.e. a centralized entity handling my transactions. Just with bad UX.
It's nothing but a PR stunt, will have very little users, little growth and thus be abandoned in say 1-2 years.
Same story as with all those businesses who accepted crypto before. And then abandoned it again, cause no one uses it.
SuuperdadLong term, big picture, drive change1 month ago
This has the potential to be a really embarrassing comment in 2 years.
wtf are you talking? The question is what kind of currency this retailer is accepting.
afaik, they only accept CHF (in CH).
So, if there is a payment provider, who accepts brainfarts (like yours) and will pay Galaxus with CHF, they don't fucking care.
> and all of them through a payment society, so they are still getting paid in swiss francs at the end of the day...
so? They view crypto as "payment methods", which is totally valid. I see no problem here... we're far away from closed crypto economies of *that* scale. If you pay with crypto, replenish your supply.
> It’s not a problem, but it’s misleading to say they are accepting crypto, when in reality they are just allowing it to be used as an expensive means to pay with fiat.
What’s wrong with that?
Someone else buy it back.. this is What currency are made for, exchange.
Because it's bullshit? I agree currency is made for exchange. In this case, the currency is being used as a very slow and expensive payment network. You aren't giving them bitcoin and they give you a product or service. You are using bitcoin to give them fiat. They want nothing to do with bitcoin.
Right so they want fiat and Bitcoin is a slow and expensive way to get them fiat. I legitimately think pushing Bitcoin as a fiat payment system is bad for Bitcoin. It undermines Bitcoin as a currency. I legit think HODLing does more for bitcoin as a currency than forcing it to be used in an application where it makes no sense.
I don’t think HODL is the killer app, but store of value is one application. A way to exit robbery by inflation via fiat.
There are places you can actually spend bitcoin, like sports books and the dark web. Those are killer apps.
> There are places you can actually spend bitcoin, like sports books and the dark web. Those are killer apps.
I don’t disagree but those place might very well convert to fiat in the background.
At the end of the day there is always someone that hold.. otherwise the price will be zero, whatever it is the merchant or someone else doesn’t matter (yet).
That's not entirely true: the customer gets to enjoy the upsides of using crypto. Example: currently my bank accounts are frozen by tax authorities. No way to pay online using SEPA transfer, my linked credit cards or paypal. Crypto to the rescue.
Nice, so they really get to benefit from that demographic of people who have their bank accounts locked down but also already have crypto. I guess that's... something? Of course, if you didn't already have crypto, you wouldn't be saved by crypto at all.
What is really happening here with clickbait articles like this is that a payment service provider like bitpay (in this case Datatrans partnered with Coinify), go in and say "hey, please accept us as a payment service provider." Digitec Galaxus doesn't give two shits about whether that payment service providers accepts crypto or not.
> What is really happening here with clickbait articles like this is that a payment service provider like bitpay (in this case Datatrans partnered with Coinify), go in and say "hey, please accept us as a payment service provider." Digitec Galaxus doesn't give two shits about whether that payment service providers accepts crypto or not.
true. Still a good thing.
> if you didn't already have crypto, you wouldn't be saved by crypto at all.
also true. Better be prepared ;-)
damnit, seems http://alternative.to doesn't exist any more. Was going to look up alternatives to BTC.
That site used to be useful for finding products where the market leader has become too expensive or shitty for some reason.
I liked that site too for the same reasons, so I looked it up on Wikipedia to see why it closed. It hasn't closed and according to Wikipedia the site has this URL and not the one you wrote:
Here's the alternatives to BTC according to Alternativeto:
AlternativeTo is a website which lists alternatives to web-based software, desktop computer software, and mobile apps, and sorts the alternatives by various criteria, including the number of registered users who have clicked the "Like" button for each of them on AlternativeTo.Users can search the site to, for instance, find better alternatives to an application they are using or previously have used, or free alternatives, perhaps choosing a free web application (cloud computing) which does not require any installation and can be accessed from any browser.
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Not really that interesting.
BTC still has the largest network effect stemming from historic head start. It was the first after all. But it also hampered to such a degree that any spike in adoption will choke it (during this bear market the demand for transactions have been way down), and therefore it is INEVITABLE that one or more alts will take over. It will most certainly not be LN, esspecially not in it's current wonky state.
Not at all. First off, it is great news for crypto adoption. Second, it is even greater news that "alts" are added as well, since it makes it that more useful and realistic that it will benefit from mass-adoption.
I'm fine with altcoins such as BCH being added, I mean BSV was added as well. Doesn't mean that these will get used though. All the "adoption" so far isn't really visible on block sizes.
BTW the reason for alts being added is that they are using a multicoin payment processor and not because there was demand for them.
"Doesn't mean that these will get used though. All the "adoption" so far isn't really visible on block sizes."
As soon as BTC chokes up again (when it hits 350k-400k tx/day) and fees start to explode the writing will be on the wall. In spades. Just like last time.
"BTW the reason for alts being added is that they are using a multicoin payment processor and not because there was demand for them."
You don't know that. Might as well be a hedge against the fact that BTC will choke up again.
BSV or OMG, propably not. OMG less so.
BCH's demand is almost 100% inverse correlated with the congestion of BTC. Past data has shown that in spades. In the months i 2017/2018 where BTC was congested a.f. the number of BCH Bitpay invoices rose significantly. At one point, BitPay even disabled BTC for amounts worth less than $10, whereas BCH kept running smooth.
Those are just the facts.
Of course lately where ALL crypto usage has gone down and there is less congestion on BTC, the situation is temporarily different.
Will it happen again if a new bull cycle comes? Absolutely.
Do I believe the bull market will return? I don't know.
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