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Author Topic: Another industry in need of Bitcoin  (Read 551 times)
64dimensions (OP)
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February 24, 2014, 04:36:40 PM
Last edit: February 24, 2014, 04:51:09 PM by 64dimensions
 #1

One industrial adopter that I haven't seen mentioned is the airline industry, famously known for it's ability to make the daily news because of some new gimmick fee being levied.

Does anyone pay cash for an airline ticket?

Some rough numbers based on SWA: 130(737 passenger capacity) x 0.6(60 % full) x $350 (average ticket cost) x 0.02 (merchant CC fee) x 3200 flights per day x 365/yr = $637 million/yr

All the factors are of course, debatable, but by switching to a Bitcoin type payment system, serious amounts of money can be saved over using CC's.

Delta went to the trouble of buying a refinery to try to save in fuel costs. Don't be surprised if airlines are looking at cryto-currencies.
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February 24, 2014, 04:48:48 PM
 #2

I think all industries can benefit from Bitcoin, but I think a lot are scared off by the price fluctuations. Hopefully it'll settle at some point in the future though.

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SecondsOld
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February 24, 2014, 05:12:58 PM
 #3

This is a good point.  NO ONE pays cash for airline tickets, so I think you're on to something.
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February 24, 2014, 05:16:41 PM
 #4

Seems to me that the airline industry is owned lock, stock and barrel by the government, through government subsidies. Government foresaw that they would introduce the TSA at some point. They needed the airline industry to further the TSA plans. So they offered the airline owners funds to keep the prices down, so people would remain habitual travelers.

The result is that people don't know how to afford to travel for the true costs, which are way above the available prices to fly. Those of us who don't fly, support the fliers through the tax dollars that are funneled into subsidies. And this is to say nothing about the FAA controls.

It's about time that we get government out of the airlines, as well as everything else. Which small airlines, that do NOT receive subsidies, are willing to start a branch that will accept nothing but Bitcoins as their flying fee?

Now, consider a much larger area of government interference: the farm subsidies and control.

Smiley

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