Why Most Merchants Reject Bitcoin Payments
Merchants prefer euros for tax and payroll reasons. Fiscal rules and deflation hinder bitcoin adoption as payment.
English · Original discussion in Spanish · Published
Why Most Merchants Reject Bitcoin Payments
Why can't you pay for a €150 dinner with bitcoin? A crypto forum debate revealed merchants want euros, not ideology. They use euros for taxes and salaries. The discussion, lasting 449 days with 107 replies, mapped legal, accounting, and incentive barriers.
Merchants Convert Crypto to Euros Instantly
Assuming merchants hold crypto is wrong. Payment gateways convert to euros immediately. Menu prices, staff wages, and VAT are all in euros. Holding bitcoin creates unwanted speculative risk for businesses that aren't investment funds.
Some suggest using wallets like cash, with identity checks for large amounts. Technically possible, but the real issue is accounting complexity, not technology.
Is Paying with Bitcoin Legal in Spain?
Yes, if both parties agree. Spanish law mandates euro acceptance for debts but allows private agreements. Property deals have closed with bitcoin, though taxes were paid in euros. Tax obligations remain regardless of payment method.
Using bitcoin triggers capital gains tax under IRPF (Spanish income tax). Buying at €100 and paying with it at €150 means reporting €50 profit to Hacienda. Traditional currency doesn't create this taxable event, discouraging spending appreciating assets.
The Buyer's Financial Dilemma
Spending an appreciating asset is financially irrational. Why pay for dinner with rising bitcoin when euros lose value daily? This logic hinders adoption. Hoarded currencies don't circulate.
Like gold or Santander shares, people avoid spending volatile assets. If sellers also antiestéticar future devaluation, demand for usage vanishes, leaving only reserve demand.
Switzerland, El Salvador, and Slow Adoption
International comparisons show regulatory frameworks drive adoption. Swiss supermarkets accept crypto; El Salvador treats bitcoin as legal tender without capital gains tax. Merchant willingness matters less than national laws.
Others predict exponential growth: slow then sudden. When bakeries ask "cash, card, or bitcoin?", mass adoption arrives. No one knows when. The debate ended there.
Meanwhile, cash still works everywhere. Boring, but effective.
Why can't you pay for a €150 dinner with bitcoin? A crypto forum debate revealed merchants want euros, not ideology. They use euros for taxes and salaries. The discussion, lasting 449 days with 107 replies, mapped legal, accounting, and incentive barriers.
Merchants Convert Crypto to Euros Instantly
Assuming merchants hold crypto is wrong. Payment gateways convert to euros immediately. Menu prices, staff wages, and VAT are all in euros. Holding bitcoin creates unwanted speculative risk for businesses that aren't investment funds.
Some suggest using wallets like cash, with identity checks for large amounts. Technically possible, but the real issue is accounting complexity, not technology.
Is Paying with Bitcoin Legal in Spain?
Yes, if both parties agree. Spanish law mandates euro acceptance for debts but allows private agreements. Property deals have closed with bitcoin, though taxes were paid in euros. Tax obligations remain regardless of payment method.
Using bitcoin triggers capital gains tax under IRPF (Spanish income tax). Buying at €100 and paying with it at €150 means reporting €50 profit to Hacienda. Traditional currency doesn't create this taxable event, discouraging spending appreciating assets.
The Buyer's Financial Dilemma
Spending an appreciating asset is financially irrational. Why pay for dinner with rising bitcoin when euros lose value daily? This logic hinders adoption. Hoarded currencies don't circulate.
Like gold or Santander shares, people avoid spending volatile assets. If sellers also antiestéticar future devaluation, demand for usage vanishes, leaving only reserve demand.
Switzerland, El Salvador, and Slow Adoption
International comparisons show regulatory frameworks drive adoption. Swiss supermarkets accept crypto; El Salvador treats bitcoin as legal tender without capital gains tax. Merchant willingness matters less than national laws.
Others predict exponential growth: slow then sudden. When bakeries ask "cash, card, or bitcoin?", mass adoption arrives. No one knows when. The debate ended there.
Meanwhile, cash still works everywhere. Boring, but effective.
Also available in: Deutsch
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (107 replies).
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