"In 5 or 10 years I think every online retailer will accept Bitcoin." -Gavin

[SOAD]

I admire Gavin's optimism and if everything goes to plan I think he will be right, but I'm not so convinced myself though I hope I'm just being sceptical. I guess we can only wait and see what te future holds for bitcoin.

actually he is very pessimist, and very conservative on his words, if you look at bitcoin now, bitcoin can achieve such objective in a far less than 5 years, hell i could say the next year is perfect for achieving all the great aiming which bitcoin needs

Less than 5 years is impossible. The shortest amount will be atleast 5 years and Gavin is correct in this . As we can see, there are only small numbers of retailer that accepts bitcoin now. For the whole online retailer to accept bitcoin it will take a lot of years and also we can see that only a small number of people that know bitcoin now

Amph rarely knows what he's talking about but will feel compelled to offer his drivel at any opportunity, but you're likely more right than he is. If bitcoin was going to go mainstream this fast it would have already happened. 5-10 years is a reasonable guesstimate and even that isn't guaranteed, but of course I would like it to be much less than that but the mainstream sadly isn't as excited about btc as I am.

[Elwar]

Through brawker.com this was already possible. Unfortunately they are no longer around but it does create a vacuum that needs to be filled.

I could see this being done using OpenBazaar and maybe a browser plugin.

[futureofbitcoin]

Through brawker.com this was already possible. Unfortunately they are no longer around but it does create a vacuum that needs to be filled.

I could see this being done using OpenBazaar and maybe a browser plugin.

However, if they closed down, it shows that it probably isn't feasible as a business yet.

[Amph]

I admire Gavin's optimism and if everything goes to plan I think he will be right, but I'm not so convinced myself though I hope I'm just being sceptical. I guess we can only wait and see what te future holds for bitcoin.

actually he is very pessimist, and very conservative on his words, if you look at bitcoin now, bitcoin can achieve such objective in a far less than 5 years, hell i could say the next year is perfect for achieving all the great aiming which bitcoin needs

Less than 5 years is impossible. The shortest amount will be atleast 5 years and Gavin is correct in this . As we can see, there are only small numbers of retailer that accepts bitcoin now. For the whole online retailer to accept bitcoin it will take a lot of years and also we can see that only a small number of people that know bitcoin now

Amph rarely knows what he's talking about but will feel compelled to offer his drivel at any opportunity, but you're likely more right than he is. If bitcoin was going to go mainstream this fast it would have already happened. 5-10 years is a reasonable guesstimate and even that isn't guaranteed, but of course I would like it to be much less than that but the mainstream sadly isn't as excited about btc as I am.

no one actually knows here, what will be the right time, we are just guessing, every guess is a good guess you know, so saying he is more right than me is just throwing another random guess nothing else...useless, and 10 years is definitely too much, 5 is even more than enough, i still think that the 2016 will bring what we want from this whole bitcoin thing

[Jeremycoin]

I hope this is really going to happen in the future, especially all of the Digital Game Store. So I could buy a game easily with Bitcoin

[fdylstyx]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run. imo

It will be the retailers who will eventually persuade/dictate that their supply chains, fixed cost providers and personnel accept, in part or in full, payments in BTC. I see a merging between the centralized and decentralized economy becoming the melting pot where the best of both will rise to the top.

Full saturation in the 23rd century. Of course by then BTC may not even be a major player. Ups and downs, ebb and flow. As always.

fdyl

[Light]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin? I can understand why they'd be happy to accept it and then sell it off - but keeping it presents a risk that investors wouldn't necessarily be keen to take. You'd have to have society overwhelmingly accept Bitcoin for investors to be happy to have their company hold Bitcoin.

Secondly, where are you getting your figure of 12%?

[Elwar]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin?

Imagine a major company actually keeping this currency:

[MUFC]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.
Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin?

Imagine a major company actually keeping this currency:

And that's why they'll use a payment processor, but if the price of bitcoin goes the opposite way and skyrockets they might regret not holding some, but most businesses wont be able to take the risk. I also hope that at some point in the future bitcoin wont be as volatile and will achieve some sort of fixed price.

[Ludi]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin? I can understand why they'd be happy to accept it and then sell it off - but keeping it presents a risk that investors wouldn't necessarily be keen to take. You'd have to have society overwhelmingly accept Bitcoin for investors to be happy to have their company hold Bitcoin.

Secondly, where are you getting your figure of 12%?

Businesses can't afford to take that risk. It's a shame many of them are put off by the fluctuations but don't realize they can use companies like bitpay etc just to straight get the cash. I guess most just don't see the point in accepting it at the moment.

[MadGamer]

Well it's simple , in Ten years there is two scenarios and two only .
Either millions of people will be using Bitcoin , either no one will use it at all ... forever . So if it last that long that would be something special .

[fdylstyx]

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin? I can understand why they'd be happy to accept it and then sell it off - but keeping it presents a risk that investors wouldn't necessarily be keen to take. You'd have to have society overwhelmingly accept Bitcoin for investors to be happy to have their company hold Bitcoin.

Secondly, where are you getting your figure of 12%?

The 12+% is simply an acceptable return on any investment imo.

I didn't mean to say that I was predicting what would happen in the next 5-10 years. If you read the post again you'll see that it's a reasonable assumption that BTC will not reach "household word" status if it doesn't both serve a purpose (simple BTC card without the credit card fees) and make people money (investors).

If those businesses with high margins and high profit could be persuaded to use BTC because it's an acceptable risk to HODL a percentage, and compel those they do business with to accept BTC transactions, then, imo, the blockchain will put down sound economical (socio/financial) roots.

The blockchain(s) then can become the shining star that it's attempting to become. Security and bloat are the major issues that need to be addressed to gain the confidence of the masses that do want a ledger of truth and justice going forward for future generations.

Those who wish to remain off the books (decentralization) will have to learn to hide their BTC well. Or trust in physical assets that are easy to hide.


fdyl

Businesses can't afford to take that risk. It's a shame many of them are put off by the fluctuations but don't realize they can use companies like bitpay etc just to straight get the cash. I guess most just don't see the point in accepting it at the moment.

[fdylstyx]

I don't know how my post ended up in the quote. That's weird.

But some of you get the gist of what I'm saying I'm sure.

Just spitball'n  

EDIT; Here it is again so it doesn't get lost in the middle of that quote.

The 12+% is simply an acceptable return on any investment imo.

I didn't mean to say that I was predicting what would happen in the next 5-10 years. If you read the post again you'll see that it's a reasonable assumption that BTC will not reach "household word" status if it doesn't both serve a purpose (simple BTC card without the credit card fees) and make people money (investors).

If those businesses with high margins and high profit could be persuaded to use BTC because it's an acceptable risk to HODL a percentage, and compel those they do business with to accept BTC transactions, then, imo, the blockchain will put down sound economical (socio/financial) roots.

The blockchain(s) then can become the shining star that it's attempting to become. Security and bloat are the major issues that need to be addressed to gain the confidence of the masses that do want a ledger of truth and justice going forward for future generations.

Those who wish to remain off the books (decentralization) will have to learn to hide their BTC well. Or trust in physical assets that are easy to hide.


fdyl

[fdylstyx]

And by "ledger of truth and justice" I merely refer to the immutable nature of contracts and agreements being readily available for review on the blockchain. Much like the DNA of trade and commerce there will be less for expensive lawyers to argue over. That alone would be a game changer in social engineering.

Again, just my opinion.

[bryant.coleman]

Businesses can't afford to take that risk. It's a shame many of them are put off by the fluctuations but don't realize they can use companies like bitpay etc just to straight get the cash. I guess most just don't see the point in accepting it at the moment.

What about those companies, who decided to keep a part of their revenue in the form of Bitcoins? Both Overstock and TigerDirect had announced (a year ago), that they will keep 10% of all their Bitcoin revenue in the form of BTC. These companies, for sure must have incurred heavy losses, as the exchange rates slid from $600 to $240.