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Author Topic: What products and services are inherently better bought with BTC?  (Read 1400 times)
nakowa
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July 15, 2011, 03:44:11 AM
 #1

If it is possible, and if I really want to buy some illegal drugs, I do prefer using BTC to using my bank account, thanks to anonymity of Bitcoin.

If I were in a country that forbids porn of any kind, I might well prefer using BTC to get an access of some porn websites.

If a product and service could be paid with regular currency with ease, I would have no incentive to use BTC.

Then, what products and services are inherently better bought with BTC? I'm curious.

(BTW, in exchanging markets, Dollars, Pounds, etc., are all products that BTC can buy.)
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casascius
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July 15, 2011, 03:46:22 AM
 #2

Go to Silk Road and look at the categories list... that may be the best answer to your question.

Add on all the things Silk Road forbids.

I hear certain kinds of beer taste better if you buy them with BTC as well.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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July 15, 2011, 04:35:39 AM
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In addition to the long list of illegal products and services that people want to hide, what about perfectly legal ones that are too slow, too expensive, or just plain impossible with other payment methods?

Next month I'll need Swiss francs for a trip to Zurich.  Would a bitcoin trade be cheaper than paying 3% plus a rotten exchange rate on my ATM card? Not to mention the inconvenience of making multiple ATM visits over multiple days due to the low daily withdrawal limit.

Bitcoin could also be much cheaper and more convenient for very small transactions like paying for one-time use electronic content. What if I could get a 3-minute video chat with a Zurich resident to find the perfect restaurant? Or what if I want a 10-min international phone card PIN? A payment method with no intermediaries and no fees should be faster and cheaper.

And person-to-person payments are much easier and less expensive than other methods.

It's tough to make predictions, especially about the future. -- Yogi Berra.
Alex Beckenham
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July 15, 2011, 04:43:20 AM
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You could 'buy' asset protection from an ex-wife, if you stored your wealth in encrypted bitcoins.

Jaime Frontero
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July 15, 2011, 04:48:40 AM
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anything expensive (i.e., in excess of the amount of currency your country allows you to take out of your own country without restriction or declaration) that you can only buy for cash in another country than your own.

collectibles, art, jewelry, etc.

if you have to pay cash, and you need to buy it in person in another country, Bitcoin is really the best option that exists.
geek-trader
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July 15, 2011, 04:53:30 AM
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Gambling.

Quick in, quick out.  Both the gambler and the house are sure they got paid.  No one knows your name.  Easily divisible for strange odds.

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
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July 15, 2011, 04:55:54 AM
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Any one time online payment, since it doesn't require sharing your credit card.
nakowa
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July 15, 2011, 07:07:59 AM
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You could 'buy' asset protection from an ex-wife, if you stored your wealth in encrypted bitcoins.


Good answer... for imagination.  Grin
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July 15, 2011, 07:09:41 AM
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Digital one time services. Micro payments which aren't realistic with normal currency.

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July 15, 2011, 07:10:54 AM
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You could 'buy' asset protection from an ex-wife, if you stored your wealth in encrypted bitcoins.


lolololol

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wareen
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July 15, 2011, 07:17:06 AM
 #11

You could 'buy' asset protection from an ex-wife, if you stored your wealth in encrypted bitcoins.
Grin
Incidentally that's exactly what I was joking about with my wife yesterday evening Wink

On topic: everything you can buy online might be easier for some people to buy with Bitcoins because other forms of online payment are not available to them. For example: not everybody on the world has a bank account or may be able to get a credit card.

Private sellers can just accept Bitcoins easily for their products or services without having to worry about credit card agreements, charge-back risks or similar. Bitcoin is simply payment between two consenting peers.

As for specific kinds of products or services: anything credit card companies don't want to be involved with, hence denying people to pay for it via credit card. For example donations to WikiLeaks or buying Bitcoins (although that might be a bad example of something that is better bought with BTC Wink)
Jaime Frontero
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July 15, 2011, 04:47:14 PM
 #12

sooo...  i see a trend.

Quote
What products and services are inherently better bought with BTC?

answer:  any good or service whose value is lower than the minimum credit/debit card fee, or higher than the amount of local currency one can own/use/transport without restriction.

for everything else there's mastercard:

Bitcoin                     Master Card                    Bitcoin
-----------------|---------------------------------|------------------------>>
wareen
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July 15, 2011, 06:54:07 PM
 #13

Bitcoin                     Master Card                    Bitcoin
-----------------|---------------------------------|------------------------>>
Nice observation! Although it seems a bit, um... one-dimensional Smiley

Luckily there are other good reasons to buy something with Bitcoins. One additional use-case which comes to mind is everything you don't want anybody to know about - like products for some medical condition or anything regarding your sex-life. Removing the payment processing companies from the chain of information flow increases your privacy.
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July 15, 2011, 07:11:34 PM
 #14

Digital products would be at the top of my list.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
nakowa
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July 16, 2011, 01:30:00 AM
 #15

Bitcoin                     Master Card                    Bitcoin
-----------------|---------------------------------|------------------------>>
Nice observation! Although it seems a bit, um... one-dimensional Smiley

Luckily there are other good reasons to buy something with Bitcoins. One additional use-case which comes to mind is everything you don't want anybody to know about - like products for some medical condition or anything regarding your sex-life. Removing the payment processing companies from the chain of information flow increases your privacy.


Nice illustration! thank you!
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