2013-11-06 readwrite: Why Small Businesses Have The Most To Gain From Bitcoin

[symaxian]

http://readwrite.com/2013/11/06/why-small-businesses-have-the-most-to-gain-from-bitcoin

Informed and level-headed article, overall tone is positive, just more of the same details regarding small businesses.

Initially found on Flipboard, a mobile news feed app.

[LiteCoinGuy]

“Bitcoin can be cheaper and faster over commercial payments than PayPal. It’s cheaper than Visa or MasterCard. If you’re a small business merchant and want to accept electronic payments, you first have to apply to join the network—and yes, there’s an application fee. If you get accepted, each swipe of any credit card you take costs you 0.25 cents. In addition, you have to return three to six percent of the sales total to the credit card company. That’s a lot off the bottom line, especially for a small business.

“With Bitcoin, you don’t need permission to start accepting it. And fees [which go to Bitcoin miners, to help run the network] are less than one percent.”

...

“Bitcoin can be sent to your wallet basically instantaneously, no holds, no fees.”

[No_2]

I often hear people say "Bitcoin is not backed by anything... therefore it has no value", but they are wrong: Bitcoin is backed by the monetisation of proof of work.

When people don't understand something they often chose to try ignore it. Then re-enforce their justification for that choice.