![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 31, 2013, 12:38:17 AM |
|
They don't take credit cards. So they likely don't have computers set up at their locations? Or they simply enjoy the security of receiving cash in hand. Bitcoin can't replicate that - they need computers at their locations, and they need their customers to stick around for a few minutes to get some confirmations that their spends are accepted by the network.
Inflation free is nice, but I'd bet very little of their earnings get saved. The sell their wares and spend the proceeds buying new inventory and paying their own personal expenses. With that rapid turnover of money, inflation doesn't have time to sink its teeth in. Besides which, the monetary base of Bitcoin is still expanding rapidly. Once all the bitcoins have been mined, you can say its inflation free, but not before. That's a part that often gets brought up that I never understand. Right now there are X bitcoins in existance. In 10 minutes, that number will be X +25. In 10 more minutes, it'll be X +25 more.
Debt-free means nothing. Doesn't matter if you transact in Bitcoins or Dollars, as a US Citizen you're on the hook for the countries debts. And there's nothing to stop someone from amassing Bitcoin denominated debts except that vendors haven't thought to start offering credit yet. Mind you, if Bitcoin acceptance keeps growing then credit will definetly be on the horizon.
Showing a price curve from 2010 to now is dishonest, I would say. There's that old adage that past performance is not idicative of future results, so to sell people on past performance might get people involved that are unaware of the risks but not the people who are more informed. Why start your graph in 2010? Would the results of your advertising be any different if you showed them a graph that starts in mid-April and goes to now? Yeah, thought so. (Bitcoin should be able to stand on its own merits, selling as an ultra-risky investment is not one of them).
I'm sorry, I love many aspects of Bitcoin, but it's just not there yet for non-techies, I don't think. Nor is it there yet for people who transact with the public. Litecoin, with its 2.5 minute confirmations, is much closer in that regard. Doesn't mean that Bitcoin won't be a great store of value, or a great way to transfer wealth around the globe, or a great currency for mail order business to accept, and so on. And but the confirmation time is something that too many people overlook when thinking about offering Bitcoin solutions to people who transact face to face.
The best way to garner their acceptance isn't by trying to sell them on it. It's grassroots. If you show up every week and ask if they accept Bitcoin, and more and more of their customers do the same, they'll eventually start asking "hey, why don't we look into this bitcoin thing?". Except, if they're not even taking credit cards in this day of Square card readers, they they simply aren't likely to be interested in another electronic payment system.
Sorry to be such a downer.
|