Bitcoin is switching from investment commodity to everyday use[INFOGRAPHIC]

[MicroGuy]

The problem with this type of propaganda is that it's not real. It's nice and fluffy and it smells nice, but its basically BS. Can we all please just get real?

People aren't switching to anything. I live around a bunch of people, and believe me none of them are switching. I have three children in school, 2 teens in high school, and another in middle school, and they aren't switching, and their schoolmates aren't switching. It's time to wake up people. Quit cheerleading yourselves into some weird fantasy.

If I had a megaphone and was standing in front of a crowd of 20,000 screaming bitcoin fans, I know exactly what I would say. Wake the "F" up! Quit your jobs unless your employer will agree to pay you in Bitcoin. Grow some balls and walk the talk. That's what we need here. Open up your minds and let some truth set in. People don't take extra steps for no reason. I wont drive another block to buy the same biscuit and neither will regular people.

If you get paid in fiat, you spend fiat. You don't sell your fiat for BTC, then spend the BTC for the same items you could have already purchased with the fiat. Nobody is going do to that, not ever. But if every single person in this community were to demand their wages be paid in BTC or else they would quit, then the Bitcoin would rise up and make a difference in the World.

.. anyway, never mind. Best of luck, and may the force be with you!

[franky1]

i never take 'professional' opinions from people that think bitcoin is a commodity..

they lack even highschool economics knowledge of what a commodity is. so any research they do is limited.

but as for my personal experience.. i earn bitcoin and i spend bitcoin.. i cant remember the exact date i last touched a bank note but i think it was around 2012-2013

[kolloh]

Pretty cool infographic. Interesting to see the stats, especially the average volume of the different payment processors.

[ggeorgiev]

Proofreading still needed. "Transation catergories"?

where exactly?

[Lauda]

Altcoin propaganda.

Please stop with this or leave the forums. There is no need for being such an individual.

i never take 'professional' opinions from people that think bitcoin is a commodity..
they lack even highschool economics knowledge of what a commodity is. so any research they do is limited.

but as for my personal experience.. i earn bitcoin and i spend bitcoin.. i cant remember the exact date i last touched a bank note but i think it was around 2012-2013

Exactly. We need more people like you. I've always been tell people that some are coming to Bitcoin for the wrong reasons. I've been avoiding banks, and using only when really necessary. I guess Bitcoin is just not there yet. Hopefully very soon, one might not need to use banks at all.

Pretty cool infographic. Interesting to see the stats, especially the average volume of the different payment processors.

The year 2016 should provide interesting information that should be compared to this. It might be the tipping stone.

[ggeorgiev]

Just one question, what's the source for the stats of the "Average daily transaction volume of selected payment networks (in Million U.S Dollars)" section?

The data is coming from:

http://letstalkpayments.com/visa-mastercard-face-increasing-threat-local-networks-crypto-currencies/

I am happy to see all the response about the infographic guys!

[Denker]

This is a really good infographic. I'm not going to look into the details of it and check the information, I'd rather enjoy it. We definitely need more of these instead of the everyday FUD that some people are trying to spread. It's nice to see that Bitcoin is slowly moving towards its goal.

I'm amazed at the ~$8M fees that would have been paid if credit cards were used. I think it would be useful if someone calculated an estimate of how much way paid in fees using Bitcoin. I guess some people don't see the huge difference between those numbers.

Good question.I checked Bitpay's terms of use and found this...

We do not charge a processing fee on transactions in our Free payment processing plan. We do charge a service fee for merchants who have selected our Business or Enterprise plans (“Plan Fees”). Merchants paying Plan Fees will have these fees offset against their applicable ledger balances on a monthly basis. We reserve the right to change our fee structure and pricing. Your continued use of the Services after we notify you of any changes in our fees constitutes your acceptance of such change. Current pricing information is provided on the BitPay website at https://bitpay.com/pricing.

So we don't know how many merchants use the "Free payment processing plan" or the "Business or Enterprise plans " and how much is the fee for the last two.
If we would just calculate with an average of 1% the total sum for fees would be $2,663,750. This is a very speculative calculation as I said I don't have any exact numbers. If anyone has please let us know.