Why would customers use Bitcoins?

[AliceWonderMiscreations]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

Because bitcoins are worthless or because bitcoins (unlike cash) are easily traceable and will get them busted for the robbery?

With the banking system, you identity is how you prove you have the right to spend funds. Hence identity theft.

With bitcoin, it is a private ECDSA key.

Thus with bitcoin, identity theft is not an issue.

[1714545607]

1714545607

[1714545607]

1714545607

[QuestionAuthority]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

Because bitcoins are worthless or because bitcoins (unlike cash) are easily traceable and will get them busted for the robbery?

With the banking system, you identity is how you prove you have the right to spend funds. Hence identity theft.

With bitcoin, it is a private ECDSA key.

Thus with bitcoin, identity theft is not an issue.

You have no worries with cash.

[Decoded]

It's irreversible, which is one of the main things, plus it's practically a debit card, instead of a credit card, plus it's an asset that's profitable if you hold. And it's always correct and super-fast transactions if you use a QR code.

[AliceWonderMiscreations]

It's irreversible, which is one of the main things, plus it's practically a debit card, instead of a credit card, plus it's an asset that's profitable if you hold. And it's always correct and super-fast transactions if you use a QR code.

QR codes can be dangerous because they are even more obfuscated than a payment address.

[AliceWonderMiscreations]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

Because bitcoins are worthless or because bitcoins (unlike cash) are easily traceable and will get them busted for the robbery?

With the banking system, you identity is how you prove you have the right to spend funds. Hence identity theft.

With bitcoin, it is a private ECDSA key.

Thus with bitcoin, identity theft is not an issue.

You have no worries with cash.

With cash you have the worries of a mugger. Or of your house burning down.

[eon89]

Worst case you lose your phone. The password is in your head. Maybe not the best idea to have an iPhone. Although I can think of other reasons for that.

[BTCBinary]

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

That's one of the problems that the block increase will solve. by increasing the block size we can solve the scalability problem and reduce fees. Besides, we need more nodes in the network to make fees much lower.

[QuestionAuthority]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

Because bitcoins are worthless or because bitcoins (unlike cash) are easily traceable and will get them busted for the robbery?

With the banking system, you identity is how you prove you have the right to spend funds. Hence identity theft.

With bitcoin, it is a private ECDSA key.

Thus with bitcoin, identity theft is not an issue.

You have no worries with cash.

With cash you have the worries of a mugger. Or of your house burning down.

No worries with Bitcoin. After he beats me for my wallet password, the mugger will die of old age waiting for confirmations when transferring to his wallet. Oh, my computer with my wallet is in my house with the cash. lol

[heldertb]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

the customer use bitcoin because bitcoin all service is very good when customer use bitcoin . they feel good and very safety.they know also bitcoin is better for us

[AliceWonderMiscreations]

Because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob.

Because bitcoins are worthless or because bitcoins (unlike cash) are easily traceable and will get them busted for the robbery?

With the banking system, you identity is how you prove you have the right to spend funds. Hence identity theft.

With bitcoin, it is a private ECDSA key.

Thus with bitcoin, identity theft is not an issue.

You have no worries with cash.

With cash you have the worries of a mugger. Or of your house burning down.

No worries with Bitcoin. After he beats me for my wallet password, the mugger will die of old age waiting for confirmations when transferring to his wallet. Oh, my computer with my wallet is in my house with the cash. lol

Your wallet is easy to backup.

As far as a mugger beating you for your pass phrase, sure that is possible. It isn't however very likely.

[lumeire]

Because the merchant advocates using bitcoin?

Consider this, Paypal deducts about 3% plus a fixed fee for the seller. Overtime this amount is significant us merchants. By experience, if I can get people to buy using btc I do push them to, because it's beneficial for me as a seller.

[Imoote]

Because the merchant advocates using bitcoin?

Consider this, Paypal deducts about 3% plus a fixed fee for the seller. Overtime this amount is significant us merchants. By experience, if I can get people to buy using btc I do push them to, because it's beneficial for me as a seller.

That's right transfer fee from paypal for example, is very much while bitcoin only take a few percentage points.
It probably makes a lot of customers using bitcoin.

[rio3233]

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

Easy to use, no need verification for creating a wallet or transfer something, small fee, fast transaction. but i hate one thing about bitcoin, it's take to long when wait the confirmation.

[gregyoung14]

Much safer than creditcards, easy to settup, easy to use, harder to steal, stores will like it because transactions are irreversible

That's about it. In short, it's way too more easy and convenient to use.

[STT]

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

This is a myth, credit cards are really not cheap.  Ask any shop owner, the fees to him can be anything upto 5% of his sale.  You might say, well screw him as its not costing me; but where does the retailer get that money to pay credit card companies.   Its you who gets charged either directly, honestly or in charges to the retailer who then will bump up the price to cover the cost.

Same deal goes for sales taxes, same for any tax on a company and the president is about to introduce another tax on gas.  The argument is again I wont charge people who pay petrol, I'll charge the oil company.   The tax will be passed onto the buyers which is anyone who uses petrol, no doubt about it.  

Bitcoin is super cheap compared to any normal money exchange especially anything across borders using foreign exchange routes normally

[Anddos]

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

This is a myth, credit cards are really not cheap.  Ask any shop owner, the fees to him can be anything upto 5% of his sale.  You might say, well screw him as its not costing me; but where does the retailer get that money to pay credit card companies.   Its you who gets charged either directly, honestly or in charges to the retailer who then will bump up the price to cover the cost.

Same deal goes for sales taxes, same for any tax on a company and the president is about to introduce another tax on gas.  The argument is again I wont charge people who pay petrol, I'll charge the oil company.   The tax will be passed onto the buyers which is anyone who uses petrol, no doubt about it.  

Bitcoin is super cheap compared to any normal money exchange especially anything across borders using foreign exchange routes normally

Oh, there are charges on credit cards, be sure of that. You think someone would provide you a free service? Especially the banks?

[STT]

Why do I have to concern myself with banks.  It is they who must provide a service to me and convince me of any need for their existance.    The dollar system we have now is centralised around the power provided by government and its domination of commerce via Federal banking but this is not capitalism as such nor is it how bitcoin hopefully works out.  So if banking were mixed with bitcoin then no they dont control it or make demands of me, the power of banks is in the service they provide to business in assurance of transactions and stablity.  

If banks are lacking in their usefulness then we should see them fail as they would have in recent years, without of course the intervention of government.  This dollar system revolves on government debt but we should not see similar dynamics from bitcoin even if it should get 10 or 100x bigger.  No doubt there are problems ahead but it wont be debt based or central debasement I hope.

Nothing is free, banks or workers will have fees but it'll be more justified in a real capital system is my best guess.  If banks bring out blockchains then I expect they will control every aspect, it will be tokens or points like a supermarket might do.  I dont expect that to be a success in the same way, but who knows for sure

[nejibens]

There is many reasons making people using Bitcoin instead fiat
For example there is low fees using Bitcoin compared with fiat and also it's decentralized currency

[fuathan]

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

I think BTC is only important when you think the transaction fees. Otherwise BTC price still not stable as USD...

[Preclus]

This thread is so full of unbelievably wrong information that I wonder if most of the people in this thread have ever actually used a credit card. Are most people posting in this thread either 13 years old or broke?

This information relates to the United States. As a customer, you don't pay a fee to use a credit card. In fact, many times, you get cash back. For many (most) cards, you pay no fees at all as long as you pay the balance off when it is due. And you don't need the money in your account to buy something, you pay what is due a month or two later.

The merchant pays fees, yes. But the larger the merchant, the lower the fees they pay.

Let's look at a real example. Chase's Freedom credit card. I have one:

https://creditcards.chase.com/credit-cards/chase-freedom.aspx

When you sign up, you get a free $150 to spend (after spending $500). Annual fee is $0.

If you pay your balance off when it is due, you charges are $0. The annual rate shown is if you float a balance, that is.. if you don't pay off what is due and you leave your account owing them money.

You get 1% cash back on all purchases and 5% cash back on certain purchases.

If your card gets stolen, according to US Federal law, the FCBA, the maximum you can lose if your card is lost or stolen and then used is $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

US credit cards now have a chip so credit card skimmers no longer work if you use a terminal that has a chip reader. Unlike the EU, the US is chip + sig and not chip + pin. My chase card has a chip.

People in this thread are saying "bitcoin is cheaper because there are no fees". How many people get paid in bitcoin? People get paid in their local currency. Then they have to convert that to bitcoin. There's a fee and a risk because to do an exchange you usually use an online exchange and many of them have disappeared, along with the bitcoins and cash, on a regular basis.

Then you send the bitcoins to someone paying the transaction fee. Unlike a credit card, if they keep your bitcoins and send you nothing you are SOL (seriously out of luck). Unlike a credit card, if your bitcoins are stolen, you are SOL. On the other end, they likely need to convert them to local currency to buy something. There's yet another exchange involved.

Now, if I want to give someone $20, I can hand them a $20 bill. There is no transaction fee at all. The transaction is immediate.

If I want to give someone $20 with a check, I can write them a check. No transaction fee. Online, I can send an echeck (ACH).

I can send an electric bank wire in the US to anyone for no fee because my account balance is high enough. I can send $10MM with no fee at all. And there's a record of it so if they say they didn't get it, I can prove they did.

The misinformation is just unbelievable.