bitcoin is a solution without a problem?

[dothebeats]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

Totally being overlooked upon by people. The expenses when using bitcoin vs credit cards is totally noticeable. Low transaction fees of bitcoin makes it a better option compared to any other credit cards out there. I mean, come on. Why would I continue using things that has an insane added value if I can use another one for less expenses?

[picolo]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

Totally being overlooked upon by people. The expenses when using bitcoin vs credit cards is totally noticeable. Low transaction fees of bitcoin makes it a better option compared to any other credit cards out there. I mean, come on. Why would I continue using things that has an insane added value if I can use another one for less expenses?

You have fees to get bitcoins if you don't work for bitcoins though.

[Q7]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

I imagine if the payment is made in bitcoin all things would have done settled on the spot without dragging for so long. Sometimes it's really stupid to wait for the bank processing to go through only to know that finally when it arrives you have to add additional fee for the delay even though it is none of your fault and the delay is at their end, not yours.

[dothebeats]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

I imagine if the payment is made in bitcoin all things would have done settled on the spot without dragging for so long. Sometimes it's really stupid to wait for the bank processing to go through only to know that finally when it arrives you have to add additional fee for the delay even though it is none of your fault and the delay is at their end, not yours.

Strategies haha. They will delay and delay their services so that in the end, you will shoulder the expenses. Not good.Not good at all.

[ebliever]

You have fees to get bitcoins if you don't work for bitcoins though.

Well, you can get bitcoin with zero fees at Coinbase for another month or so. Others have been cutting rates (I think Bitstamp announced a cut yesterday IIRC), and there's a site offering conversion of your wages into BTC for free during a beta period. Bitwage.co

If my investments had been in a BTC-denominated market such as Bitshares and others are trying to do, I suppose I'd also have an exchange fee to have sold that investment. In which case a better comparison would be $147/11 days to $0.05 and 60 minutes. Still pretty one-sided. It may be clumsy to buy coffee with BTC at Starbucks, but for many financial purposes cryptocurrency beats the competition by a huge margin.

[RodeoX]

Problems bitcoin has solved for me:

1. Price. I should not have to give up a bunch of my money to move my money. Now I don't!

2. Security. I could give you my login credentials for overstock.com and you would not be able to steal anything. If I gave you my Amazon login, my credit would be toast. With bitcoin I can buy without revealing my identity because the seller does not need it.

3. Geography. With dinosaur fiat currencies I was forever trading one money for another as I travel. (I travel a lot). I could not shop craigslist Madrid or buy a recipe from a cook in Indonesia. These things are easy now.

4. Economic freedom. Because no one has control over bitcoin I can compete in a fair market now. No one can manipulate the market via production or restrict my ability to use BTC. Unlike dollars, these are mine alone and I can use them as I wish.

I could go on, but I gota get back to work.  

[btcxyzzz]

That's why they're called "sheeple", they are completely unaware of worldwide finance fraud, and seems like most of them are even uncapable of understaning it.

[OpenOcean]

Remittances, delays and security regarding overseas payments, inflation, the average person's understand of what money really constitutes. Decentralized consensus mining.

There are tons of problems to be solved, and many applications to be developed. Keep asking these kinds of questions, they're the ones that will make you rich.