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del
July 15, 2011, 09:15:55 PM
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July 15, 2011, 09:21:26 PM
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1. Volatility
2. Volatility
3. Volatility
4. Volatility
5. Volatility
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July 15, 2011, 09:40:57 PM
 #3

6. Volatility
7. Exchange fees
8. Volatility
9. Can pay expenses in USD but not BTC
10. Volatility

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July 15, 2011, 10:01:15 PM
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9. Can pay expenses in USD but not BTC
so we need a better bitcoins ecosystem





ecosystem is that a good word for this?
Economy would be a better word.  Ecosystem has to do with ecology, which is plants-and-animals sort of stuff.
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July 15, 2011, 10:18:29 PM
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9. Can pay expenses in USD but not BTC
so we need a better bitcoins ecosystem





ecosystem is that a good word for this?
Economy would be a better word.  Ecosystem has to do with ecology, which is plants-and-animals sort of stuff.

Yes economy is a better word, and we need almost a level more of people involved in bitcoin. Today exchanges are make from end user to end user, or at least from retailers to customers. We need some producer, or at least some wholesalers to convert to bitcoin to make the economy a true one.

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July 16, 2011, 04:43:50 AM
 #6

Shops will eventually charge less for payments done in Bitcoin as opposed to dollars because of these three reasons:

1) Bitcoin payments from the customer can be immediately received as USD payments to the vendor (using a service like bit-pay.com)
2) Bitcoin removes the credit card fees of 2-3%
3) Bitcoin eliminates the risk of chargeback, which for many online vendors is a significant cost.

Combine these three factors and you will see Bitcoin prices will become lower than USD prices in the near future. This phenomenon is what will drive Bitcoin to widespread adoption, because web shoppers will start seeing two prices, one always slightly less than the other.
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July 16, 2011, 02:29:45 PM
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1) Bitcoin payments from the customer can be immediately received as USD payments to the vendor (using a service like bit-pay.com)
nice vendor, is there any ETA for bit-pay.com ?
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July 16, 2011, 04:05:52 PM
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2) Bitcoin removes the credit card fees of 2-3%
Have you calculated the fees required to convert Bitcoins to some currency that can pay the bills? I suggest you try it sometime...

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July 16, 2011, 07:04:11 PM
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2) Bitcoin removes the credit card fees of 2-3%
Have you calculated the fees required to convert Bitcoins to some currency that can pay the bills? I suggest you try it sometime...

Yes, they are less than 2-3%. And please see the 1st point... the vendor can receive the payment in USD, they need not convert anything.
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July 17, 2011, 12:49:20 AM
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Yes, they are less than 2-3%. And please see the 1st point... the vendor can receive the payment in USD, they need not convert anything.
Bit-pay have to convert the bitcoins to USD somehow, and they apparently charge an unspecified fee for doing so (plus apparently the vendor doesn't get the payment from them instantly if they want it in USD).

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SIGS ABOUT BUTTERFLY LABS ARE PAID ADS
Bitcoin_Silver_Supply
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July 17, 2011, 01:16:49 AM
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6. Volatility
7. Exchange fees
8. Volatility
9. Can pay expenses in USD but not BTC
10. Volatility

This. The volatility isn't going anywhere and it causes businesses to obsessively watch prices in order to stay afloat.
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July 17, 2011, 01:17:52 AM
 #12

so lets say a interwebs shop have the item A to sell at 14$ and the same item cost 1,10 BTC, what are your 5 tops reasons to do that ?

1) Volatility. (Bitcoins may become worth less between when they get them and when they can exchange them.)

2) Cost to convert BTC back to USD to pay bills.

3) Costs associated with whatever lame solution the shop may have chosen to process their BTC payments. Perhaps they're worried that processor will go out of business without paying them. Perhaps that processor charges them high fees.

4) Supply and demand. They may believe that there are people sitting on vast quantities of BTC who want their products but don't want to flood the market. They may believe they can therefore charge higher rates and get them.

5) Higher perceived risk. They may worry that some uncertainty in the system will result in them getting screwed without necessarily even knowing what that risk might be. A higher price helps to offset that perceived risk.

6) It's easier to lower a price than to raise it. So when trying something knew, one tends to prefer to set one's prices a bit too high.

I am an employee of Ripple.
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