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Title: What about the travel industry and hotels? Post by: melacs on December 13, 2013, 12:53:52 AM One of the main reasons lots of people hold credit cards is the fact that they can use them anywhere in any currency.
With the low transaction fees and easy usage, bitcoin could take over a huge portion of the wealth spent at hotels and on holidays. Seeing the amounts of hotels and resorts that accept bitcoin on coinmap (http://coinmap.org/) there is definitely room for growth there. The fluctuations in price are high at the moment, but obviously the same can be said for fiat currencies in some countries. (if you lose 3% in fees/conversions and 4% to currency fluctuations no one bats an eye, but if...) In addition there is also a market for anonymity in hotel visits. Let's say you are taking your mistress out on a trip and book a hotel. You can't pay by credit because your wife checks the bills. You can pay in cash, but do you want that amount of cash on you? Bitcoin could solve this problem. Certainly the Chinese are not the only ones creating 'black wallets' to spend abroad. I wonder if any of the hotel chains could be persuaded to accept coins and what the impact would be on the bitcoin economy. No chargebacks also means they have their money every time. Title: Re: What about the travel industry and hotels? Post by: jones31 on December 13, 2013, 02:03:32 AM One of the main reasons lots of people hold credit cards is the fact that they can use them anywhere in any currency. With the low transaction fees and easy usage, bitcoin could take over a huge portion of the wealth spent at hotels and on holidays. Seeing the amounts of hotels and resorts that accept bitcoin on coinmap (http://coinmap.org/) there is definitely room for growth there. The fluctuations in price are high at the moment, but obviously the same can be said for fiat currencies in some countries. (if you lose 3% in fees/conversions and 4% to currency fluctuations no one bats an eye, but if...) In addition there is also a market for anonymity in hotel visits. Let's say you are taking your mistress out on a trip and book a hotel. You can't pay by credit because your wife checks the bills. You can pay in cash, but do you want that amount of cash on you? Bitcoin could solve this problem. Certainly the Chinese are not the only ones creating 'black wallets' to spend abroad. I wonder if any of the hotel chains could be persuaded to accept coins and what the impact would be on the bitcoin economy. No chargebacks also means they have their money every time. Well , she can always look at the blockchain , and you're out of luck at this point. And if you manage to get a separate address that she doesn't know about it , you can get also a debit card for that purpose also. No real advantages here , sorry. Title: Re: What about the travel industry and hotels? Post by: Siegfried on December 13, 2013, 02:48:45 AM One of the main reasons lots of people hold credit cards is the fact that they can use them anywhere in any currency. With the low transaction fees and easy usage, bitcoin could take over a huge portion of the wealth spent at hotels and on holidays. Seeing the amounts of hotels and resorts that accept bitcoin on coinmap (http://coinmap.org/) there is definitely room for growth there. The fluctuations in price are high at the moment, but obviously the same can be said for fiat currencies in some countries. (if you lose 3% in fees/conversions and 4% to currency fluctuations no one bats an eye, but if...) In addition there is also a market for anonymity in hotel visits. Let's say you are taking your mistress out on a trip and book a hotel. You can't pay by credit because your wife checks the bills. You can pay in cash, but do you want that amount of cash on you? Bitcoin could solve this problem. Certainly the Chinese are not the only ones creating 'black wallets' to spend abroad. I wonder if any of the hotel chains could be persuaded to accept coins and what the impact would be on the bitcoin economy. No chargebacks also means they have their money every time. If only Eliot Spitzer had had bitcoin. Title: Re: What about the travel industry and hotels? Post by: melacs on December 13, 2013, 04:23:26 AM Quote Well , she can always look at the blockchain , and you're out of luck at this point. And if you manage to get a separate address that she doesn't know about it , you can get also a debit card for that purpose also. No real advantages here , sorry. It was more meant as a joke, but yeah of course there are other ways. Bitcoin doesn't send mail to your house like credit card companies do, but yes I get your point. |