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Haven't been to Cyprus, but all they need to use Bitcoin is a smartphone which costs a few hundred dollars. I presume 3G coverage is decent? If small business
by technotony 14y ago
Haven't been to Cyprus, but all they need to use Bitcoin is a smartphone which costs a few hundred dollars. I presume 3G coverage is decent? If small businesses aren't taking credit cards anymore then the loss of revenue would pay for an Android device in a few days.
- gamblor956 14y agoCyprus is not America and it definitely is not like Silicon Valley. The use of credit cards is a uniquely American phenomenom; European businesses and especially Eastern European businesses prefer debit cards--to the extent they even accept cards at all. Moreover, a few hundred dollars is a very, very big number in Cyprus (and indeed, most of the world), and was definitely beyond the reach of almost all of the small businesses--let alone consumers--even before the recession. There simply isn't any financial justification for wasting a few hundred dollars on equipment you'll only use once or twice a year--if that. Bitcoin--and most digital payment services--simply aren't relevant to Cyprus' economy and will not be the vehicles that get it out of the recession.
- chris_dcosta 14y ago"a few hundred dollars is a very, very big number in Cyprus" Cyprus is not a) eastern anything (including european) b) outside the european union c) a third world country A few hundred dollars is not far off a few hundred Euros, the currency of Cyprus.