They'll centralize it.. just look at ripple.
Haha nice one. I don't understand why most people haven't see or realize the truth. It's the same old system packaged under different name and to make it sound like it's bitcoin. |
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Brace yourselves
What goes down must come up
......Only if the fundamental remains strong and adoption continues to grow. Last thing that we need is some bad press to pull everything down again |
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The term expressed can be quite confusing. It should at least refer to percent loss of purchasing power to be more accurate.
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Cool great idea indeed. it's time the new generation get exposure to bitcoin and a chance to teach them what it is all about.
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Well, at least they will return all the customer's fund.
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Does it actually get people looking into bitcoin?
Yeah it does get people looking into bitcoin and then walk away. That is not going to help. |
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I carry a small amount in my phone and have so far made online purchases. I'm the type that hoard my coins not selling back to fiat but spend at the same time. When price is low i buy to increase my stash size.
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It's sometimes not feasible for big companies.
And it's sometimes not useful to small local businesses.
The question on whether it is feasible or useful depends on how you decide to implement it. If currency fluctuation is a main concern, payment processor will be able to help. Most businesses i believe are just basically using the wait and see approach to learn on how the others are doing. Like Microsoft for example are still testing the water using a small portion of their business. |
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Regarding the question on where the money comes from, just imagine for example if an exchanger were set up a business to deal with cryptocurrency exchange, the earning or profit will be used to pay the employees. If not for bitcoin, the business will not exist. Similarly if to say without bitcoin, the job wouldn't be there as well.
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Great! Finally someone who sees this as an opportunity to utilize bitcoin as a payment currency that will save on the fees. This the exposure that we need to have more and more people to finally know about bitcoin.
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I'm a complete newbie when it comes to Bitcoin trading and speculation, so bear with me. Is this REALLY a dump? Barring anything
crazy, it seems like a normal lifecycle to me. Think about it:
Stage 1: Bitcoin's infancy. Low dollar value, little hype, little mainstream adoption
Stage 2: Bitcoin bubble. Sky rocketing dollar value, all kinds of hype, increased mainstream adoption
Stage 3: Bitcoin bubble "bursts". Prices fall. Mainstream adoption continues to climb.
Stage 4: Bitcoin prices level out, higher than in its infancy but much lower than during the bubble.
It seems to me that we're in Stage 4 which, while not great news for traders cashing in on the rises and dips in the market, bodes
extremely well for increased mainstream adoption. I think part of the aversion to Bitcoin adoption has been its volatility. The very
thing that made it so attractive to traders scared the hell out of merchants. IMO if Bitcoin attains and holds a fairly steady dollar
value, more merchants and service providers will be likely to adopt it.
At least that's how I'm seeing it. If I am wrong, someone please let me know and explain to me why.
Cheers!
Cynthia
I believe mainly here still goes back to demand and supply side. Don't forget every new coins by the miner to the open market have to be bought. And that haven't include coins by existing holder who decides to sell off. If the demand is not picking up eventually people will undercut each others price to sell lower. And that will continue as long as it doesn't go below mining cost. The only thing we can see in light is some news event by big companies to announce adoption or integration or we just wait for the next halving to take place when supply factor goes down. |
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Like what it says every new innovation takes time to get it right. In other words undergoes the fine-tuning stage to become useful. And finally to be accepted. As in the case if bitcoin even though you could say its already 6 years, I'm sure we are somewhere at certain level, there are still things to be done to improve it, whether in terms of speed and such and later become widely accepted.
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If they can make parking fines to be paid exclusively only using bitcoin.
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my take on why established businesses will never accept bitcoin: https://www.youtube.com/watch?v=h_fS4C7Cot8because they have to pay their taxes and their "raw materials" in FIAT and are highly regulated. Bitcoin is designed for "private business use" This is not a valid argument not to accept Bitcoin. There are plenty of Bitcoin payment processors, through which companies like Amazon can very easily accept Bitcoin, yet they receive their sales directly in EUR or USD (the payment processor converts it to fiat). In fact they never even have to deal with or own any bitcoins at any point, nor are they exposed to any volatility risk. Company charges €50, customer pays in Bitcoin, company receives exactly €50. Period. No fees, no delay, no volatility, no chargeback risk, no restrictions or limitations (unlike any other payment method, Bitcoin is available worldwide), no nothing. They use product pricing in euros, they receive euros, they pay tax in euros, done. In this sense, they're just using Bitcoin as a more efficient, faster, safer, better, and cheaper payment method (compared to credit cards, paypal, etc) rather than an actual currency, but that's fine. So, what are they waiting for? I suppose what you mean here is something similar like what bitpay has to offer. I'm just wondering since they act as intermediate party who absorbs all the risk on behalf of the merchant using their service, then how do they make money based on their business plan? I supposed there must a fee involved or the additional fee is passed on to the customer. Since the merchant here sells 1usd gets 1usd so the variable here must be the btc selling price customer has to pay for the product. Bitpay doesn't absorb any risk. They check the orderbook and sell immediately. Whatever little fluctuation that can happen is averaged out. The risk is on currency fluctuation. If amazon accepts bitcoin directly, exchanging back to fiat has to be done by themselves so they are exposed to the risk. Since bitpay undertakes it on behalf of amazon, the risk of currency fluctuation is transferred to bitpay. Since bitpay offers such service, in which part do they earn their money from? |
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Even though bitcoin is not fully anonymous at least if you use bitcoin, your credit card details are safe plus you can also avoid unnecessary hidden charges made without your knowledge going to your credit card account.
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my take on why established businesses will never accept bitcoin: https://www.youtube.com/watch?v=h_fS4C7Cot8because they have to pay their taxes and their "raw materials" in FIAT and are highly regulated. Bitcoin is designed for "private business use" This is not a valid argument not to accept Bitcoin. There are plenty of Bitcoin payment processors, through which companies like Amazon can very easily accept Bitcoin, yet they receive their sales directly in EUR or USD (the payment processor converts it to fiat). In fact they never even have to deal with or own any bitcoins at any point, nor are they exposed to any volatility risk. Company charges €50, customer pays in Bitcoin, company receives exactly €50. Period. No fees, no delay, no volatility, no chargeback risk, no restrictions or limitations (unlike any other payment method, Bitcoin is available worldwide), no nothing. They use product pricing in euros, they receive euros, they pay tax in euros, done. In this sense, they're just using Bitcoin as a more efficient, faster, safer, better, and cheaper payment method (compared to credit cards, paypal, etc) rather than an actual currency, but that's fine. So, what are they waiting for? I suppose what you mean here is something similar like what bitpay has to offer. I'm just wondering since they act as intermediate party who absorbs all the risk on behalf of the merchant using their service, then how do they make money based on their business plan? I supposed there must a fee involved or the additional fee is passed on to the customer. Since the merchant here sells 1usd gets 1usd so the variable here must be the btc selling price customer has to pay for the product. |
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Could be Philippines. 4% is considered nothing compared to higher rates like Venezuela, Brazil and Russia which are more than 10%
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I agree. Bitcoin in general is still largely unknown. By then hope to see improved infrastructure, wider adoption and that is especially after the halving
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I still think anything is possible from here and as always bitcoin is full of surprises. Don't forget there might be possibility that the 7k stolen coins will make its way soon to the market.
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I'm sure any big government's cyberwarfare division could hack any bitcoin exchange they want whenever they want. However I think they have more important things to worry about and probably don't care about bitcoin. I strongly suspect most of the big hacks on exchanges are inside jobs.
Well they do worry about bitcoin. As an alternative currency it could be very well competing against fiat and what they worry most is when transactions are all based on bitcoin and could lose control over the monetary system. However having said,I agree that it is unlikely that they are the one who carried out the attack. |
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