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One for the crypto haters

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  1. #151

    200k of 3AC's ETH is about to be liquidated on Aave if ETH price drops another 30 USD or so. $200m USD worth of forced selling into an already panicked market.

    Nice thread on the outlook if 3AC do completely collapse:

    https://twitter.com/hodlKRYPTONITE/s...-HeAtxGF0Vbu_Q


  2. #152

    In other news, my drug dealer no longer accepts USDT!!


  3. #153

    My drug dealer may have renounced stablecoins, but at least '85% of merchants' are going the other way.

    I present Deloitte and Paypal's report merchant adoption of stablecoins and crypto.

    Some highlights:

    85% of merchants surveyed predict crypto payments to be ubiquitous in the industry within 5 years
    85% of merchants expect to pay suppliers with crypto (stablecoin and other) within 5 years
    96% believe their consumers to be interested in crypto payments (64% strong interest)
    85% describe enabling crypto payments as high or very high priority
    87% believe accepting crypto serves as a competitive advantage
    83% believe crypto will be legal tender within 10 years
    85% believe use of digital assets for 'everyday' things will increase 'exponentially' over the next 5 years
    93% of companies who have already implemented crypto for internal finance functions have experience positive impacts (22% moderate or very positive)
    Only 1% have no plans to integrate digital currencies internally, and 85% are motivated by a belief that they’ll see a significantbenefit to their finance/treasury/revenue cycle within their cashmanagement functions if they accept digital currency payments

    Despite this, most of you guys are going to double down on neglecting and dismissing the most obvious tech trend of the generation. This is genuinely just another report I stumbled on randomly. So many being prepared everyday demonstrating that we are just entering the steepest section of the adoption S-Curve.

    https://www2.deloitte.com/content/da...for-crypto.pdf


  4. #154

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    27,363
    Quote Originally Posted by Gollygordon:
    My drug dealer may have renounced stablecoins, but at least '85% of merchants' are going the other way.

    I present Deloitte and Paypal's report merchant adoption of stablecoins and crypto.

    Some highlights:

    85% of merchants surveyed predict crypto payments to be ubiquitous in the industry within 5 years
    85% of merchants expect to pay suppliers with crypto (stablecoin and other) within 5 years
    96% believe their consumers to be interested in crypto payments (64% strong interest)
    85% describe enabling crypto payments as high or very high priority
    87% believe accepting crypto serves as a competitive advantage
    83% believe crypto will be legal tender within 10 years
    85% believe use of digital assets for 'everyday' things will increase 'exponentially' over the next 5 years
    93% of companies who have already implemented crypto for internal finance functions have experience positive impacts (22% moderate or very positive)
    Only 1% have no plans to integrate digital currencies internally, and 85% are motivated by a belief that they’ll see a significantbenefit to their finance/treasury/revenue cycle within their cashmanagement functions if they accept digital currency payments

    Despite this, most of you guys are going to double down on neglecting and dismissing the most obvious tech trend of the generation. This is genuinely just another report I stumbled on randomly. So many being prepared everyday demonstrating that we are just entering the steepest section of the adoption S-Curve.

    https://www2.deloitte.com/content/da...for-crypto.pdf
    I am too lazy to read the methodology, how were the sampled merchants chosen?
    Gollygordon likes this.

  5. #155

    Sir, it's a 1 minute read on the first page. Pasted below for your convenience and reading pleasure.

    Methodology

    The survey was conducted between December 3 and December 16, 2021, as a research vehicle to gaingreater insights into the overall attitudes and investments in adoption of digital currency paymentsystems. The survey highlights included in this report reflect the opinions and perceptions aroundmerchant adoption of digital currency payments and the potential impact of this adoption in the future.The information shared provides summaries of a subset of overall data and insights collected.

    The survey polled a sample of 2,000 senior executives at retail organizations across the United States. Allrespondents were from the consumer goods and services industry, with a 10% contribution from each ofthe following subsectors: cosmetics, digital goods, electronics, fashion, food & beverages, home/garden,hospitality & leisure, personal & household goods, services, and transportation. Seventy-five percent(75%) of respondents’ organizations’ primary channel of sales was business-to-consumer (B2C), while15% of the organizations were business-to-business (B2B) and 10% were direct-to-consumer (D2C).

    Respondents reported at least a general knowledge of cryptocurrency and stablecoins, where allrespondents described their understanding of stablecoins as “little understanding,” “some broadunderstanding,” or “excellent understanding.” Most respondents were a primary decision-maker whendeciding whether their organization would accept cryptocurrencies and stablecoins as a formof payment.


  6. #156

    Join Date
    May 2011
    Location
    Sai Kung
    Posts
    4,051

    Crypto is binary and divisive. You are in one of three camps on this

    The success story that is Venezuela is doing roaring business with Bitcoins. It must be good, where do I get on the bandwagon?


  7. #157

    .


  8. #158

    Join Date
    Oct 2010
    Posts
    23,332
    Quote Originally Posted by Gollygordon:
    My drug dealer may have renounced stablecoins, but at least '85% of merchants' are going the other way.

    I present Deloitte and Paypal's report merchant adoption of stablecoins and crypto.

    Some highlights:

    85% of merchants surveyed predict crypto payments to be ubiquitous in the industry within 5 years
    85% of merchants expect to pay suppliers with crypto (stablecoin and other) within 5 years
    96% believe their consumers to be interested in crypto payments (64% strong interest)
    85% describe enabling crypto payments as high or very high priority
    87% believe accepting crypto serves as a competitive advantage
    83% believe crypto will be legal tender within 10 years
    85% believe use of digital assets for 'everyday' things will increase 'exponentially' over the next 5 years
    93% of companies who have already implemented crypto for internal finance functions have experience positive impacts (22% moderate or very positive)
    Only 1% have no plans to integrate digital currencies internally, and 85% are motivated by a belief that they’ll see a significantbenefit to their finance/treasury/revenue cycle within their cashmanagement functions if they accept digital currency payments

    Despite this, most of you guys are going to double down on neglecting and dismissing the most obvious tech trend of the generation. This is genuinely just another report I stumbled on randomly. So many being prepared everyday demonstrating that we are just entering the steepest section of the adoption S-Curve.

    https://www2.deloitte.com/content/da...for-crypto.pdf
    This is just obvious and common sense. Asking businesses if electronic payments are going to be more common in the future? God, who were the 5% who thought they would not be :facepalm"

    What this doesn't change is the crypto and stablecoin landscape today is full of shit, scams, Ponzi schemes and rubbish technology that is useless or far inferior to current payment methods.

    This may well change, but it is not where we are today. And buying digital tokens on the Greater Fool theory definitely won't be a part of the landscape. ruling out 99.9% of current crypto "users".

  9. #159

    Join Date
    Mar 2021
    Posts
    707

    Predict, believe, would like - nothing new there.

    Of course merchants would take crypto as they would any other kind of payment - IF it was stable, secure and regulated. It's not. But if it becomes so, it's a no brainer.

    Also, I would question these merchants "general" understanding of crypto. Just seen an APAC payments report that showed very low awareness and understanding of any crypto aside from Bitcoin. Just under 50% had heard of stablecoins, and only 19% said they knew a great deal or were somewhat knowledgeable about them.

    And in terms of payment methods consumers plan to use in the next year, crypto came bottom.


  10. #160

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    27,363
    Quote Originally Posted by Gollygordon:
    Sir, it's a 1 minute read on the first page. Pasted below for your convenience and reading pleasure.

    Methodology

    The survey was conducted between December 3 and December 16, 2021, as a research vehicle to gaingreater insights into the overall attitudes and investments in adoption of digital currency paymentsystems. The survey highlights included in this report reflect the opinions and perceptions aroundmerchant adoption of digital currency payments and the potential impact of this adoption in the future.The information shared provides summaries of a subset of overall data and insights collected.

    The survey polled a sample of 2,000 senior executives at retail organizations across the United States. Allrespondents were from the consumer goods and services industry, with a 10% contribution from each ofthe following subsectors: cosmetics, digital goods, electronics, fashion, food & beverages, home/garden,hospitality & leisure, personal & household goods, services, and transportation. Seventy-five percent(75%) of respondents’ organizations’ primary channel of sales was business-to-consumer (B2C), while15% of the organizations were business-to-business (B2B) and 10% were direct-to-consumer (D2C).

    Respondents reported at least a general knowledge of cryptocurrency and stablecoins, where allrespondents described their understanding of stablecoins as “little understanding,” “some broadunderstanding,” or “excellent understanding.” Most respondents were a primary decision-maker whendeciding whether their organization would accept cryptocurrencies and stablecoins as a formof payment.
    So given they have senior executives we are talking larger American retail organisations. Exactly the organisations I would expect to give these answers. I would doubt their future job safety if they answered otherwise, and many of them may be correct.

    In my survey 100% of retailers laughed when asked if they expected to accept crypto in the next five years.
    FrancisX likes this.

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