Why would customers use Bitcoins?

[RodeoX]

I don't see why "cheapest, fastest, most secure" is not enough? I have saved hundreds of dollars in fees.


Say i buy an Oz. of gold from Amagi (or whoever). It is $1350.58 if I used a credit card. If I instead use bitcoin I pay only $1311.37.

If I pay with a credit card the seller has to wait for verification to send with confidence. If I pay with bitcoin the money is theirs within an hour and they know it can't be clawed back.

If I pay with credit card I must expose all the information needed to steal from me. If I pay with BTC the seller does not even know who paid. Which is no big deal for them.

cheap? I pay ZERO fees when I am using my card, it's instant and "secure" enough (nothing is secure on internet).

the seller doesn't have to wait. if it's a merchant, he can get the money from bank same day or next day.
yes, you "expose" the information BUT you can make chargeback while with bitcoin you can say "bye bye" to your funds.

BTC wasn't made as a payment system. first, it's limited as volume of coins and second, it's hard to be understood by the normal people.

You may think you are not paying for the Tx, but Visa is not a charity and someone MUST pay. Assuming you don't fall for their debt traps then the fees are paid by the seller who raises prices accordingly. As a business owner I assure you that your purchase is far from instantaneous. It typically takes days to weeks to receive a settlement and sometimes takes months.

The problem is still why it should be better for the merchant, not the seller. I imagine most of the merchants would need to convert the bitcoins back to fiat, and that would have a fee, which could be higher than visa's or mastercard's fee. On the other hand it would be profitable if the merchant is able to buy the products he sells directly in bitcoins.

Most of the businesses I have helped to accept BTC have gone with a payment processor like BitPay. They take 1% as a fee, which is 1/3 the cost of a visa Tx. 

Just checked the website. No discount for BTC, I call shenanigans

And Amagi Metals is known for shady business practices (quick bitcointalk search shows this https://bitcointalk.org/index.php?topic=1456781.0 as second result), so you buy with $1311.37 worth of BTC & get a brick in the mail 3 months later, SFYL. With CC? No prob, get your money back

I'm not sure what you are looking at? They most certainly do offer a discount for cash sales, including bitcoin. I have bought as much as 10oz. at a time and saved thousands. This is also true at Overstock and most retailers who take bitcoin.  Check again.

[1715428540]

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[vero]

The most benefit that I'm feel is I can send money to my family on Australia with the most cheap fee compare when I'm using western union
Also when my sister send money to another country, bitcoin provide faster payment speed

Bitcoin transactions don't count how far you sent your bitcoin, because of that we can send our money to many countries with cheap fee transaction. Around some days ago i make a transactions and the fee of transactions only take 0.0002 bitcoin. Even one month ago the transaction only take 0.0001 btc.

i guess now fee for transaction is still 0.0001btc maybe you can use costume fee for get fast confirmation but fee 0.0002 per transaction is still low than you use other payment.

[whoreble]

Just checked the website. No discount for BTC, I call shenanigans

And Amagi Metals is known for shady business practices (quick bitcointalk search shows this https://bitcointalk.org/index.php?topic=1456781.0 as second result), so you buy with $1311.37 worth of BTC & get a brick in the mail 3 months later, SFYL. With CC? No prob, get your money back

I'm not sure what you are looking at? They most certainly do offer a discount for cash sales, including bitcoin. I have bought as much as 10oz. at a time and saved thousands. This is also true at Overstock and most retailers who take bitcoin.  Check again.

I'm looking at their website, https://www.amagimetals.com/ Please show me how to get my BTC discount. If you claim that you got cash discount, pay cash, problem solved, no need to buy bitcoins and pay exchange fees.

You may think you are not paying for the Tx, but Visa is not a charity and someone MUST pay.

Sure somebody pays. It's not the customer though, it's the merchant. The same merchant that doesn't give me a discount for using BTC.

Most of the businesses I have helped to accept BTC have gone with a payment processor like BitPay. They take 1% as a fee, which is 1/3 the cost of a visa Tx

But BitPay also doesn't offer the most important service Visa provides: BitPay will not give you your money back when Amagi screws you.
http://s32.postimg.org/m0ers8b2d/Capture.gif

    Ron D.
    Morristown, NJ
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1.0 star rating
7/14/2015
I would be vary wary of this company.  Customer service is terrible and behavior is extremely suspect.  I had ordered from them once previously and had some minor issues but overall the order was fine.  Now however, the number is disconnected and they do not really answer customer service inquiries.  I would not do any business with this company.
    Big Sky A.
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1.0 star rating
8/26/2015

CAUTION!!! This company sent out another customers personal information via email to me. Probably a mistake but COME ON ARE YOU KIDDING ME!!! This information in the hand of the wrong person, you know nothing good will come of that!  In one of Amagi Metals email reply  to me was another customers personal information.  I called that customer and warned him what had happened.  Customer service is nonexistent. Amagi did not answer any of the questions I sent them. Yes they replied to each email as if they had never read the email I sent. I requested for my funds to be returned. NEVER HAPPENED!!! They would not  answer my requests. I tried for 4 days in a row to call them via telephone with no luck as the number listed on their website and their fax number were out of service.

    Scott R.
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1.0 star rating
6/27/2015
Beware! Criminal behavior by this company! Phone number has been disconnected, company is out of business, and company is not fulfilling orders nor answering emails anymore! However, they are stealing people's money who place orders with them online and then pay with Bitcoin or check.

http://www.yelp.com/biz/amagi-metals-denver

[tampazeus]

The most benefit that I'm feel is I can send money to my family on Australia with the most cheap fee compare when I'm using western union
Also when my sister send money to another country, bitcoin provide faster payment speed

Bitcoin transactions don't count how far you sent your bitcoin, because of that we can send our money to many countries with cheap fee transaction. Around some days ago i make a transactions and the fee of transactions only take 0.0002 bitcoin. Even one month ago the transaction only take 0.0001 btc.

i guess now fee for transaction is still 0.0001btc maybe you can use costume fee for get fast confirmation but fee 0.0002 per transaction is still low than you use other payment.

Yes and I think that fees is nothing in compare to other payment systems and  I generally use bitcoin only for online transfers.

[RodeoX]

Just checked the website. No discount for BTC, I call shenanigans

And Amagi Metals is known for shady business practices (quick bitcointalk search shows this https://bitcointalk.org/index.php?topic=1456781.0 as second result), so you buy with $1311.37 worth of BTC & get a brick in the mail 3 months later, SFYL. With CC? No prob, get your money back

I'm not sure what you are looking at? They most certainly do offer a discount for cash sales, including bitcoin. I have bought as much as 10oz. at a time and saved thousands. This is also true at Overstock and most retailers who take bitcoin.  Check again.

I'm looking at their website, https://www.amagimetals.com/ Please show me how to get my BTC discount. If you claim that you got cash discount, pay cash, problem solved, no need to buy bitcoins and pay exchange fees.

Just go to the website and... Never mind here is an SS:
The high price is what you pay, the low price is what bitcoiners pay

You may think you are not paying for the Tx, but Visa is not a charity and someone MUST pay.

Sure somebody pays. It's not the customer though, it's the merchant. The same merchant that doesn't give me a discount for using BTC.

The customer always pays. Every other entity in the deal is there to make money. It may not be on the tag, but it has to be factored into the price. If the merchant is not sharing the benefit of using BTC then I would complain.

Most of the businesses I have helped to accept BTC have gone with a payment processor like BitPay. They take 1% as a fee, which is 1/3 the cost of a visa Tx

But BitPay also doesn't offer the most important service Visa provides: BitPay will not give you your money back when Amagi screws you.

    Ron D.
    Morristown, NJ
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1.0 star rating
7/14/2015
I would be vary wary of this company.  Customer service is terrible and behavior is extremely suspect.  I had ordered from them once previously and had some minor issues but overall the order was fine.  Now however, the number is disconnected and they do not really answer customer service inquiries.  I would not do any business with this company.
    Big Sky A.
    Monarch, MT
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1.0 star rating
8/26/2015

CAUTION!!! This company sent out another customers personal information via email to me. Probably a mistake but COME ON ARE YOU KIDDING ME!!! This information in the hand of the wrong person, you know nothing good will come of that!  In one of Amagi Metals email reply  to me was another customers personal information.  I called that customer and warned him what had happened.  Customer service is nonexistent. Amagi did not answer any of the questions I sent them. Yes they replied to each email as if they had never read the email I sent. I requested for my funds to be returned. NEVER HAPPENED!!! They would not  answer my requests. I tried for 4 days in a row to call them via telephone with no luck as the number listed on their website and their fax number were out of service.

    Scott R.
    Austin, TX
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1.0 star rating
6/27/2015
Beware! Criminal behavior by this company! Phone number has been disconnected, company is out of business, and company is not fulfilling orders nor answering emails anymore! However, they are stealing people's money who place orders with them online and then pay with Bitcoin or check.

http://www.yelp.com/biz/amagi-metals-denver

I can't say much about Amaigi's business. Other that they have handled tens of thousands of dollars of my BTC and have come through every time. If they did try something illegal then Tony (BitPay) would drop them. BitPay is a good business I trust, but it's not their job to settle disputes. If I wanted money back I would use the courts.
If Amagi is your concern then try http://www.jmbullion.com or https://www.bitgold.com. You will see the same discount.
What you are talking about now is a business that takes BTC and not BTC itself. You are overpaying compared to those of us who use bitcoin.

[whoreble]

Just go to the website and... Never mind here is an SS:
The high price is what you pay, the low price is what bitcoiners pay
[IM G]http://i64.tinypic.com/21oalqd.jpg[/img]

So pay by check? Same price as BTC, plus legal recourse when Amagi doesn't deliver. Why would you want to pay exchange fees and go through the rigamarole of buying BTC?

Oh, listing the price as $698, without mentioning the 3% added at checkout? That's what I'd complain about.

The customer always pays. Every other entity in the deal is there to make money. It may not be on the tag, but it has to be factored into the price. If the merchant is not sharing the benefit of using BTC then I would complain.

You complain?! If the merchant wants to make more money off bitcoin users, he's free to do so. You do understand that a business is not a charity, charging as much as the buyer is willing to pay is simply sound business practice. You might as well complain that Amagi makes too much profit.

I can't say much about Amaigi's business. Other that they have handled tens of thousands of dollars of my BTC and have come through every time. If they did try something illegal then Tony (BitPay) would drop them. BitPay is a good business I trust, but it's not their job to settle disputes. If I wanted money back I would use the courts.

All the people in the "Scam accusations" section of this forum also say they'll use the courts. In reality, that nearly never happens, and, when it does, they're never made whole. Versus a phone call to your CC, which works without fail, almost instantly

If Amagi is your concern then try http://www.jmbullion.com or https://www.bitgold.com. You will see the same discount.
What you are talking about now is a business that takes BTC and not BTC itself. You are overpaying compared to those of us who use bitcoin.

Well sure, that's the topic, "Why would customers use Bitcoins?" Even in your chosen scenario -- dealing with a bitcoin enthusiast who is also a metals dealer -- paying by check proves cheaper than paying with BTC.
Once we take into account that you have to *buy* BTC, incurring exchange fees & time to set up exchange account, risk of exchange goxing u up the a, or having to use localbitcoins (typically more than the 3% you would have paid for CC/PP transaction, plus risk of getting robbed), bitcoin stops making sense altogether

[RodeoX]

@whorable
Bud your clearly grasping at straws now and are not willing to understand how bitcoin works. You may be a better candidate for the supervised transactions of the bank.

In the interest of those who do want to understand why bitcoin is the biggest development in finance since the credit card here are the answers to the questions your struggling with.

So pay by check?

Write out a check and send it in the mail? I could do that if I like waiting weeks for my order. I have not done that since the 1990's. And what 3% are talking about? There is no such thing. Well, unless you use a credit card, that WILL cost you 3% But OK, I could hand over my identity with a check. I could also mail them a sock full of pennies.

You complain?! If the merchant wants to make more money off bitcoin users, he's free to do so.

Absolutely correct. Just as I am free to shop for the best deal and drive down prices. Ain't capitalism grand!

All the people in the "Scam accusations" section of this forum also say they'll use the courts. In reality, that nearly never happens

True. But that is because they do not deal with registered, licensed businesses. I have never lost a Satoshi to a scam in 6 years of use. If someone insists on "investing" a scheme to double their coins then they have other problems.

Well sure, that's the topic, "Why would customers use Bitcoins?" Even in your chosen scenario -- dealing with a bitcoin enthusiast who is also a metals dealer -- paying by check proves cheaper than paying with BTC.
Once we take into account that you have to *buy* BTC, incurring exchange fees & time to set up exchange account, risk of exchange goxing u up the a, or having to use localbitcoins (typically more than the 3% you would have paid for CC/PP transaction, plus risk of getting robbed), bitcoin stops making sense altogether

None of those things apply to me. I have always made money trading with BTC.  And a check is not cheaper. It is a longer wait, a riskier method, but not cheaper. Perhaps you just need to research ways to use BTC, you are describing the most inefficient way to obtain and use them.

[whoreble]

@whorable
Bud your clearly grasping at straws now and are not willing to understand how bitcoin works. You may be a better candidate for the supervised transactions of the bank.

I understand exactly how bitcoin works, have used it long before it became the scammer's and sig campaign losers' paradise it is today. Bud.

In the interest of those who do want to understand why bitcoin is the biggest development in finance since the credit card here are the answers to the questions your struggling with.

So pay by check?

Write out a check and send it in the mail? I could do that if I like waiting weeks for my order. I have not done that since the 1990's. And what 3% are talking about? There is no such thing. Well, unless you use a credit card, that WILL cost you 3% But OK, I could hand over my identity with a check. I could also mail them a sock full of pennies.

The example you gave where one could "save" 3% with Bitcoin was Amagi Metals, a place where you had to wait *months* for your order. But, of course, you can't wait a few weeks for your golden shekels, because reasons

You complain?! If the merchant wants to make more money off bitcoin users, he's free to do so.

Absolutely correct. Just as I am free to shop for the best deal and drive down prices. Ain't capitalism grand!

So what, you're suggesting an exercise in futility? You complain, merchant replies "lolno, go away," everybody's happy?

All the people in the "Scam accusations" section of this forum also say they'll use the courts. In reality, that nearly never happens

True. But that is because they do not deal with registered, licensed businesses. I have never lost a Satoshi to a scam in 6 years of use. If someone insists on "investing" a scheme to double their coins then they have other problems.

Registered, licensed businesses in Bitcoin are as rare as hen's teeth, and wazzup with the "registered, licensed" statist bullshit? Trying to shackle Bitcoins with filthy government regulations? If I wanted to do business with decent, regulated companies, I'da stuck to legacy finance.

Well sure, that's the topic, "Why would customers use Bitcoins?" Even in your chosen scenario -- dealing with a bitcoin enthusiast who is also a metals dealer -- paying by check proves cheaper than paying with BTC.
Once we take into account that you have to *buy* BTC, incurring exchange fees & time to set up exchange account, risk of exchange goxing u up the a, or having to use localbitcoins (typically more than the 3% you would have paid for CC/PP transaction, plus risk of getting robbed), bitcoin stops making sense altogether

None of those things apply to me. I have always made money trading with BTC.  And a check is not cheaper. It is a longer wait, a riskier method, but not cheaper. Perhaps you just need to research ways to use BTC, you are describing the most inefficient way to obtain and use them.

OK there, master money changer. I'm sure you make out like a bandit buying BTC @spot with stacks of ones and fives you got from your last localbitcoin exchange behind some dumpster. The check's still cheaper, do the math

[PinkLlama]

This question literally gets on the main page every hour.

[chaosknight]

Bitcoin is the best when it comes to online transfers and many people are using it for gambling as its very easy to gamble with bitcoin.

[Koamder]

I mine bitcoin indirectly, thought the altcoin mining. I use the bitcoin to buy things. That is one way to pay for my mining.

[mark coins]

Fast transactions
Low fees
Instant credits
Better then banks and other payment systems.

[Qunenin]

The people use bitcoins because it has no taxes

[blackmachinegun]

I mine bitcoin indirectly, thought the altcoin mining. I use the bitcoin to buy things. That is one way to pay for my mining.

you could say that bitcoin is the mother of all altcoin You may not directly sell altcoin to the dollar, of course you're going to convert it into bitcoin first then to the dollar.
very lucky there are many other alternativ coins besides bitcoin, so we're not just talking about bitcoin only but cryptocurrency

[coinzat]

a costumer would use bitcoin because there is no age restrictions or country restrictions in bitcoin. one can use it everywhere as long as he has an internet connection. there is no chargeback in btc and your card info can be stolen easily but bitcoin is secure

[Mickeyb]

a costumer would use bitcoin because there is no age restrictions or country restrictions in bitcoin. one can use it everywhere as long as he has an internet connection. there is no chargeback in btc and your card info can be stolen easily but bitcoin is secure

I would say it is much easy to keep the cards safe rather than bitcoin, considering the amount of geeks or hackers involved in the community.

[italianobitcoin]

If there will be more people that is going to use Bitcoin than it will be nice for the future and for Bitcoin itself because than we are making it more popular and more used.
And you also can see now that the value is rising slowly so that is also nice for the people who already have Bitcoin.

[gerXhonza]

Customers should use bitcoin because it allows them to earn additional income, and its just not only a currency its also an best investment for the future.

[Cuidler]

a costumer would use bitcoin because there is no age restrictions or country restrictions in bitcoin. one can use it everywhere as long as he has an internet connection.

Bitcoin is simply future. Imagine all the future inteligent robots using Bitcoin because no know your customer regulations or other nonsence - Bitcoin can be used by any entity without restriction.

I have feeling in 20+ years Bitcoin become the standardized international currency because of the fear any country can print as much fiat themselves as they like thus no rational being will use or trade in fiat anymore - Bitcoin cap of 2,100,000,000,000,000 Satoshi which can be proven no more exist anytime by anybody is such high incentive to use instead of the fiat where you cant prove the existing supply at all - Bitcoin has such high potential to replace fiat in longterm.

[Hirose UK]

Maybe because Bitcoin's very easy to use have low fees for globas and quick transactions. Bitcoin too sometimes be anonymous you can send money without No one knows who sent it

I think OP said that we don't need to pay any fee by using credit card, so it's not best answer why customers would use bitcoin

probably it's true when you said it's because bitcoin has quick transaction and no identity of the sender.