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Poll
Question: Is Bitcoin ONLY a good idea?
Yes, it is better than having other methods + Bitcoin - 18 (31%)
No, it would be better to have other methods + Bitcoin - 40 (69%)
Total Voters: 58

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Author Topic: [POLL] Accept Bitcoins only? Please vote in the poll.  (Read 1845 times)
bitdude
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August 15, 2013, 06:04:15 AM
 #21

ASIC and pertinent IPOs will destroy this.

Wrong window/thread?  Grin
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August 15, 2013, 06:41:48 AM
 #22

I'd say, use other payment methods as well, but give a discount or benefits to those that pay with bitcoins. That would probably promote bitcoin the best.

 Who is going to subsidies that discount? After all, if you can buy an car for a discount with bitcoins, who's
going to cover that spread?   
I believe others answered that already. It mostly depends on the business model, it doesn't have to be an expense for you necessarily, as bitcoin has really low fees and quick transactions.

Nothing to say.
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August 15, 2013, 01:26:21 PM
 #23

I'd say, use other payment methods as well, but give a discount or benefits to those that pay with bitcoins. That would probably promote bitcoin the best.

 Who is going to subsidies that discount? After all, if you can buy an car for a discount with bitcoins, who's
going to cover that spread?   
I believe others answered that already. It mostly depends on the business model, it doesn't have to be an expense for you necessarily, as bitcoin has really low fees and quick transactions.

I'm not sure how BTC has low fees and quick transactions, at least on the buyer side. I could pay with a debit card and get charged nothing extra and the transaction is instant.

On the seller's side, I'm guessing you get charged somehow? But exchanging BTC to fiat and then withdrawing must have some fees.
og kush420
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August 15, 2013, 03:17:22 PM
 #24

people are not very eager to spend bitcoins. they also seem to think in general that when using bitcoins, prices should be lower because eventually bitcoins will go up. in general IME

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August 15, 2013, 03:19:05 PM
Last edit: August 16, 2013, 07:51:35 AM by stormlighter
 #25

I think you should hold all options open. Bitcoins, PayPal and Google Checkout etc.
bitdude
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August 16, 2013, 06:12:21 AM
 #26

So far it is less than 30 % that think that Bitcoin only is a good way to. I will keep this opened to possibly get even more votes, but the poll starts to be representative. I interpret this result as that most of Bitcoiners today are entrepreneurs (of any kind) and minority are enthusiasts. Thus only few would highly appreciate the Bitcoin only way and would be willing to change their service provider just because it is highly pro-Bitcoin oriented. The rest would be happy if just Bitcoins are supported. Although it would be probably a nice experiment to start with Bitcoins only, it would sooner or later turn into supporting other ways too. This is why I can now vote against Bitcoin only in the poll.
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August 16, 2013, 02:40:01 PM
 #27

So far it is less than 30 % that think that Bitcoin only is a good way to. I will keep this opened to possibly get even more votes, but the poll starts to be representative. I interpret this result as that most of Bitcoiners today are entrepreneurs (of any kind) and minority are enthusiasts. Thus only few would highly appreciate the Bitcoin only way and would be willing to change their service provider just because it is highly pro-Bitcoin oriented. The rest would be happy if just Bitcoins are supported. Although it would be probably a nice experiment to start with Bitcoins only, it would sooner or later turn into supporting other ways too. This is why I can now vote against Bitcoin only in the poll.

It's less about being an "enthusiast" or "entrepreneur" and more about being realistic. Accepting only bitcoins for a non-bitcoin related business makes no sense.
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August 16, 2013, 03:39:44 PM
 #28

I'd say, use other payment methods as well, but give a discount or benefits to those that pay with bitcoins. That would probably promote bitcoin the best.

 Who is going to subsidies that discount? After all, if you can buy an car for a discount with bitcoins, who's
going to cover that spread?  
I believe others answered that already. It mostly depends on the business model, it doesn't have to be an expense for you necessarily, as bitcoin has really low fees and quick transactions.

I'm not sure how BTC has low fees and quick transactions, at least on the buyer side. I could pay with a debit card and get charged nothing extra and the transaction is instant.

On the seller's side, I'm guessing you get charged somehow? But exchanging BTC to fiat and then withdrawing must have some fees.

IIRC the seller will typically pay ~3% fees for credit/debit, which is usually more than BTC/USD exchange fees. This fee is invisibly added to prices, that's why some things appear cheaper when priced in BTC.

The transaction isn't really complete until the buyer runs out of time to issue a chargeback, which can be up to 120 days.
http://www.dailyfinance.com/2012/07/31/credit-card-chargeback-merchant-disputes/
If you're a merchant, Bitcoin trades the risk of chargeback (which averages a loss) for exchange rate volatility (which averages a gain).
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