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Title: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: Chocolatehaze on October 30, 2018, 07:31:44 AM So, educate me, because I am a Debbie Downer.
Hypothetically, let's say using Bitcoin for Purchases is only 1% as opposed to the 3% merchants pay, and that the merchant processing company converts it automatically back to FIAT and deposits it into their bank for that 1%. And, hypothetically you the customer would have to pay a small fee to convert your FIAT in America to Bitcoin to buy something in Bitcoin, involving (1) an extra step, and (2) an incurred cost of conversion. So, vendors would offer a 1% discount if you pay with Bitcoin, so that you the customer, save a very small amount, and the vendor saves a large amount over the cost of a month. The question then is, will someone convert to bitcoin to merely save a few cents and also do the extra step? And what's there to prevent Visa or MasterCard from dropping their prices to small amounts too? After all, if they use blockchain technology, then every transaction becomes guaranteed and secure, and their costs drop as there is less fraud so they can lower the costs to the merchants. Is this accurate? Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: Kestenbetsa on October 30, 2018, 07:34:24 AM How often do you see places that offer a discount if you pay cash? Now imagine an even smaller number. That’s the number of places that will offer a discount for using BTC.
Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: Sacredvineofspirits on October 30, 2018, 07:39:04 AM Nobody Will convert into btc risking to lose half of its value in one minute.
Secondly: yes, this will happen. Companies will transform their system into blockchain, saving alot of money. I don't know if that's possible for companies like visa and MasterCard though. It doesn't matter for Bitcoin, btc won't be a currency until it loses volatility. It will probably be only digital gold. So if more and more blockchain adoption takes place in companies, it will schine on btc. Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: Dreamace7 on October 30, 2018, 08:50:51 AM The truth is that Mr OP And the first two reply are the same person I wonder how you asked a question and reply to answer it. It's really doesn't make sense in any way and it's unhealthy for the community balance
https://bitcointalk.org/index.php?action=profile;u=2449910 https://bitcointalk.org/index.php?action=profile;u=2449898 https://bitcointalk.org/index.php?action=profile;u=2449894 Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: BrewMaster on October 30, 2018, 02:07:47 PM the idea has never been to convert to bitcoin to pay for something. the "idea" is that you see bitcoin as a currency and treat it as such. which means it will be the same as fiat. do you "convert" to fiat to purchase something? or do you earn fiat to buy stuff?
that should be the same with bitcoin too. you have a job, and a salary and it or part of it is in bitcoin then you use that bitcoin to purchase stuff and the merchant is keeping bitcoin in his wallet the same way he keeps fiat in his wallet/bank account. that is the goal anyways. now how close we are to that, and what are the challenges we are facing (like volatility) is a different discussion. Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: Jet Cash on October 30, 2018, 02:29:08 PM I sell domain names, and i prefer to take Bitcoin in settlement. It is a really easy International transfer, and there aren't any charge back problems. This is really the way that Bitcoin should be used. I don't care about volatility, as I don't plan to dispose of my Bitcoin during the next couple of years or more.
Title: Re: will someone convert to bitcoin to merely save a few cents and also do the extra Post by: BQ on October 30, 2018, 06:41:04 PM I personally believe blockchain will be adopted more for industrial backend use before it becomes used for mainstream currency,
however when that point is reached it would also of course be based on the fact that it's much superior and everyone generally would only be using crypto. it's not fair to compare the last century development of fiat, banks, card payments etc and crypto which was born 10 years ago. where do you think crypto will be in 100 years? all of civilization will have gone to the next level by then! |