Response to: [How Can I Pay With Hive My Dinner In A Restaurant?]

in LeoFinancelast month

This article is the answer I wrote for @awildovasquez's question "
How Can I Pay With Hive My Dinner In A Restaurant?"
and I found the answer long and valuable for anyone who wants their local shop/cafe/restaurant to accept Hive payments.

These below are just thoughts, but you can discuss them with the shop staff if you're close with them!

It'll be better if the restaurant has its own account and a way to accept Hive payments. There are many crypto payment processors that accept HIVE, that shouldn't be a problem but, it's hard to get $HIVE money out of Hive if you're not used to it.

In my experience I'll give you options and the difficuties the restaurant might have with them.

Option 1

Your friend takes money in HIVE and pays the restaurant from his Pocket. This is the way that has the less amount of complications, but you can't do it all the time, because it depends on how much money your friend can pay the restaurant before liquidating his HIVE.

If your friend agrees, I recommend using this option for now.

Option 2

The restaurant makes its own account and make it part of its marketing (even if only on HIVE) that it takes Hive payments.

You'll need a way to get the money off Hive including signing up in exhanges and/or a way to convert it to your local currency.

In my case, I first need to convert it to USDT and find someone in my country that takes USDT money and give me local cash, I have people like that, but I know not everyone has them.

Option 3

Same as option 2, but make a Binance (or another popular exchance in your country) account for that. This way you'll accept more types of cryptocurrency and usually getting money off exchanges to the real world is just easier.

Option π

This is an extension to options 2 and 3 but maybe the restaurant is okay in keeping the money in HIVE as an investment. This is dangerous, and there's a chance HIVE's price never goes up or take a really long time to do so! But it's a still an (High Risk and High Reward) option and if it went right, with enough time, the restaurant will have 2x or even 10x the value they got paid.

What do you think?

Salam (Peace)


If the restaurant is willing to create a hive account...

They could easily make a post every time an order is ready. Such as:

  • John your chicken dinner is ready. See the front desk to pick up order 145 to go. 😉

This saves money, paper, ink not needing to print as many receipts, and avoids the hassle wasted time collecting email or phone numbers from customers for electronic message receipts. Receipts on Hive remain as a permanent, authentic, official record, much better than forged paper, texts, and emails.

For each new order posted they can receive the payment in Hive as a gift tip, as well as rewards from happy customers and followers. Employees participating on Hive who upvote the posts will earn higher tips daily, so long as they stack some more every so often.

Customers can also comment back with feedback on the service and quality of food from their order, and the restaurant can award Hive, tokens, or coupons as appreciation for the feedback or for responding with answers to the customer survey.

Edit: Transferring Hive directly to the restaurant's Hive account is probably the safest. After all, we never know if competitors or boycotters of the restaurant might start a downvote campaign to negate rewards and visibility of their posts.

I don't recommend the idea of posting about orders, as it'll be better if these are private. I don't know about your country, but in Libya, you can get a LOT of teasing (or worse) just if people knew what food you're ordering.

I find the idea of posting about the Menu items, recipes or sales on Hive very cool, though. I think "receipts" should still be printed even if they're proven to work digitally, but I can't give a logical reason why I think that.

Have a !PIZZA with !LUV for the ideas. Tagging: @awildovasquez

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Your idea is cool, but I don't know how practical can be. Imagen a restaurant full of people and I come to the restaurant with my hive account ready to pay.

Do you think they will have time to create one post and take pictures and share it?

Maybe I can create a post reviewing the food and get upvotes and this will be nice for me (the customer) but not easy and fast for them when they have a full restaurant with people waiting.

I think option 1 is great when I and my friend are going to make transactions between us, but when is a business we need to think of something automatic, easy for both parties.

I think option 3 would be better choice. Because in this process he can receive various kind of cryptocurrency payment including Hive. And he can easily converted in USDT instantly.

That's the option I'll choose too, but as the question was about HIVE, I wanted to make sure Option 2 was there as well.

That's also as a fact because through this process Hive will be highlighted.


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