[VIDEO] Calvin Ayre full video interview from Macau

[cypherdoc]

Hey all,

From the BitInstant trip to Macau, Roger and I got to sit down with the CalvinAyre.com people and do a quick video interview about Bitcoin. It's all very basic stuff, but CalvinAyre's demographic is the gambling community, so this is prime targeting at this point in Bitcoin's progression   And wow Angelia Ong was smokin!

"One of the more popular discussion panels at the recent Social Gaming Asia Summit 2012 featured BitInstant’s Erik Voorhees and Roger Ver discussing the Bitcoin ‘crypto currency’ and its potential impact on the global gaming industry. The dynamic duo wowed attendees with their description of a payment system that offered both transnational convenience, security and anonymity. CalvinAyre.com’s roving reporter Angelia Ong was sufficiently intrigued to corral Voorhees and Ver for an in-depth followup."

http://calvinayre.com/2012/12/21/business/bitcoins-impact-on-global-gaming-industry-ao-vid/

finally got a chance to view this.  lol, Erik looks smitten.  Roger played it more cool. 

[cypherdoc]

Saying "the transaction fee is less than a penny" impresses people, and leaves them in a positive frame of mind.

Saying "it's free" is dishonest. It makes people defensive and leaves them wondering what the catch is.

It's also important to distinguish between the transaction fee and the transaction cost, which is currently around one percent. For now, most of the transaction cost is paid with the freshly-minted block reward, but eventually the senders will need to pay the whole cost as a fee.

i like this.

[Meatpile]

This is a valid discussion. Saying bitcoin has no fees is sleazy salesmen-like bullshit.

Even if the fees are small now... If any significant portion of any countries economy was transacting then the fees would grow quite large to keep the networks new load viable.

And then we are still talking about the magical fantasy dream that you can actually do all your day to day transacting with bitcoins, and not exchanging in and out of fiat currency which is way higher fees and swings than regular credit card transaction fees will ever be...

[BCB]

You guys do a lot to promote.  

Could you all please review this before you give interviews.

https://en.bitcoin.it/wiki/Public_relations

[420]

2) The normal fee that is included with typical transactions is so god damn tiny that it may as well be nothing. A fee that is a fraction of a penny is not even worth discussing.

and if the USA turns the money supply 10x to pay off debts

and bitcoin keeps rising, reaches $200/btc

a .0005 fee would be 10 cents

[beckspace]

(also let me clarify, that I have nothing against people saying there are tiny fees with Bitcoin... It's not wrong to say that upfront, I just think either way is fine and it often depends on the context of the conversation and the audience)

The fees are so low that people don't believe you. A true "First World Problem" with Bitcoin.

Saying "the transaction fee is less than a penny" impresses people, and leaves them in a positive frame of mind.

Saying "it's free" is dishonest. It makes people defensive and leaves them wondering what the catch is.

"Less than a penny" is currently true (at U$20, the suggested fee becomes exactly 1 penny), fast and impressive. I'll stick with that for a start.

Even if the fees are small now... If any significant portion of any countries economy was transacting then the fees would grow quite large to keep the networks new load viable.

I agree. Transaction fees are crucial for the long term viability of Bitcoin's deflationary aspect. People have to understand from the beginning that the fees are designed to sustain the blockchain later.

The fee may be small, but its importance to understand Bitcoin is not.

[FreeMoney]

Sorry that this is turning into fee thread. Nice interview.

There are cases when not knowing about a 1 penny fee can screw you. If you need to pay exactly some amount, so you acquire exactly that amount and then find out that to send it without a fee you have to wait 2 days or something that 1 penny or less means you need to do another acquire-bitcoins transaction.

Plus if you are talking with anyone who will eventually want more information you'll have to be like "oh... yeah, miners get the fees", "hmm, fees?".

[420]

Sorry that this is turning into fee thread. Nice interview.

There are cases when not knowing about a 1 penny fee can screw you. If you need to pay exactly some amount, so you acquire exactly that amount and then find out that to send it without a fee you have to wait 2 days or something that 1 penny or less means you need to do another acquire-bitcoins transaction.

Plus if you are talking with anyone who will eventually want more information you'll have to be like "oh... yeah, miners get the fees", "hmm, fees?".

just call 'em donations and if you dont donate they might hold your transaction hostage till a hero comes along

[evoorhees]

I agree that if you're going to mention the tiny fee upfront, the best way to say it is "fees are less than a penny."

You guys have swayed my opinion slightly... so I'll try to use the "less than a penny" phrase more often