Use Your STEEM To Buy A Cup Of CoffeesteemCreated with Sketch.

in busy •  6 months ago  (edited)

This seems to be the barometer that everyone wants to go by. We keep hearing "will people ever use Bitcoin to buy a cup or coffee" or "Bitcoin is going to fail because people will not pay for their coffee using the currency".

I cannot answer whether Bitcoin will or will not ever be used for that purpose. However, if that is the barometer, then STEEM is in the game.

It is easy to be negative on things in a bear market. At the same time, Steem, because of the lack of attention it gets, has fallen more in proportion to some other tokens. That leads people to believe the market views Steem as worse than other projects.

This is not true. A more likely scenario is the fact that Steem tends not to get a lot of publicity and is not as well known as other projects.

The news the last couple days should help the image of Steem. There is a lot taking place on this blockhcain as evidenced by the amount of applications we have that are already working. Getting listed on the DApp site should help especially with Steemit ranking number 1.

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Paytomat is a cryptopayment system that caters to merchants. Anyone who is in the retail world, especially in countries like the United States, realizes that Mastercard and Visa can charge healthy percentages for their services. This can be a big dent for smaller retailers who operate on tight margins. 1%-3% can make a big difference especially if you operate on a sub 10% margin.

This is a project that looks like it was started on the EOS blockchain. The idea is to develop an alternate network to the typical merchant account one that companies are not stuck dealing with. Obviously, this is something in it's infancy but, hopefully, will expand over time.

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These are some of the types of projects that are going to assist cryptocurrency moving into the mainstream. Over time, we should see more organizations willing to accept cryptocurrency in an effort to expand their reach while also cutting down on expenses.

The good news is they just announced they are accepting STEEM as part of the payment system. This is just another advancement forward for our ecosystem. While this is not going to move the token into the Top 5 overnight, it does show the benefits that STEEM offers as a currency due to the blockchain it is on.

Here is a video they put out announcing the inclusion.

https://busy.org/@paytomat/grab-your-steem-and-buy-some-coffee

So, yes, technically one could say that STEEM can now be used to buy a cup of coffee.

I want everyone to consider how big this potentially could be and the impact for what people are doing on this blockchain. With STEEM be accepted in that network, we can see the ability for one to come onto the blockchain, interact, and earn some STEEM. This now can be used to buys goods and services albeit in a limited fashion at this point.

Even though we saw some challenges with Steemit, we are led to believe the SMT protocol will still be designed. When that is finally unveiled, we will see all tokens created using that paired with STEEM. That means, with the addition to this network, people can earn their favorite SMT, convert it on the exchange to STEEM, and go spend it. As the @paytomat system gets bigger, the offerings will end up including places that people spend at in the course of their day.

This was an approach that I always felt provided extreme value to the Steem ecosystem. We offer a way for people to earn right now with the options expanding upon the release of SMTs. It is an on ramp to the rest of the world. With people earning on here, they will have the ability to either spend or invest. This will help to improve the financial situation of millions or people around the world.

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Another point I wanted to mention is the fact that this project is seeking the input and collaboration of others. They appear to be understanding of the industry and what we are confronted with. By partnering up with other teams, they increase their chances of making an impact. It is naive to believe that anyone is going to take on the present system alone. Instead, it is going to take a dedicated effort on the part of many people working together.

This is another feather in Steem's cap. Ultimately, this could be a breakthrough moment or just another failed experiment. Either way, each week we are seeing different projects appear that push the Steem case forward. Organic growth can take some time and, being a new industry, we need to wait for the foundations to be laid.

While waiting, if you are in one of the areas that @paytomat services, you pay for a cup of coffee with your STEEM.

More information can be found at https://paytomat.com/.


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thats awesome...I hadn't heard that.. I'm gonna go check that out

I was pointed this way by @pennsif and I am so glad he sent me a link to this post.
I am opening a takeaway in 2019 and I am wanting to accept cryptocurrancy as payment.
After reading this I am more confident and happy to go a head with the introduction of using steem as a way of payment.

thank you for this :D

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ty

They’ll have to pull my Steem from my old, dead fingers.

Posted using Partiko iOS

Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

Question: what is the % service fee that blocktrades charge to convert other crypto to Steem? my first transaction that opened my account was very expensive and as such I've resisted in converting more of my saved ETH & BTC to Steem. What is the cheapest way to get Steem? Here is South Africa we have easy access to Bitcoin & ETH. Very hard to get a hold of alt coins

Posted using Partiko Android

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Have you tried binance ?
That’s the least fee service I know.
Blocktrades is fast so the fees are exorbitant.
Keep on postin

Posted using Partiko iOS

This was exactly what i had posted about months ago to being the trigger for mass adoption. People using actifit, earning STEEM and then using their phone to pay for sports goods with STEEM. They will never come near this site or blog but instead use a few of the apps to accumulate STEEM and SMT's in a wallet and be able to spent them in real time.

I hope that any of this pay services will be successful in the future. This project sounds similar to Netcoins.

Posted using Partiko Android

While encouraged with the thought of merchants adopting Steem, we may still be far away from the ramp up as currently the amount of Steem is either powered up or on exchanges to trade. If we can change the mentality of users, theb it would be a great possibility. When we participated and won the Netcoins listing, I thought we would begin to see this approach as the platform provided access to over 100,000 merchants worldwide; but that has yet to be seen. It is unfortunate as I believe that this could provide a gateway for developers to use their stake to pay for goods and services as part of their Steem project developments.

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This post has been included in today's SOS Daily News - a digest of all you need to know about the State of Steem.



  ·  6 months ago (edited)

It is projects like Paytomat, Pundi X and Netcoins that will make mass adoption of cryptocurrencies a reality. The adoption will not be overnight. It will take time. Paypal was not adopted overnight either.

Did you hear about Payger?

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No that is a new one on me...I will have to look it up.