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vrm86
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June 18, 2015, 06:15:51 PM |
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Price fluctuations of Bitcoin attracts people that are looking for opportunity to earn some money. Most of them will realise, that besides investment asset, it has huge potential as a tender. So BTC is in its early age as it is still vulnerable to speculations, but it is not as bad when coin is only 6 years old.
What only worries me, is previously mentioned time delay between sending coins and receiving confirmation. In brick and mortar stores it could be a problem. On the other hand BTC is a great solution for all types of on-line payments (especially fast and micro buys such as music, games DLCs, newspaper access and many more). On that field Bitcoin has many advantages over bank transfers and I am sure it will succeed.
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zeraTunerse
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June 18, 2015, 07:45:00 PM |
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Price fluctuations of Bitcoin attracts people that are looking for opportunity to earn some money. Most of them will realise, that besides investment asset, it has huge potential as a tender. So BTC is in its early age as it is still vulnerable to speculations, but it is not as bad when coin is only 6 years old.
What only worries me, is previously mentioned time delay between sending coins and receiving confirmation. In brick and mortar stores it could be a problem. On the other hand BTC is a great solution for all types of on-line payments (especially fast and micro buys such as music, games DLCs, newspaper access and many more). On that field Bitcoin has many advantages over bank transfers and I am sure it will succeed.
If you compare Bitcoins with the traditional banking system then it is sure that Bitcoin will win the race and comparatively also win the trust of the people as everyone wants to get rid of the banking system. So holding bitcoin is like owing own's bank and you can make transaction from anywhere and at anytime. |
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bitnanigans
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June 20, 2015, 04:58:17 PM |
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It'll be worth it when the barrier for entry is low or virtually non-existent and retailers are accepting bitcoin en masse. There is currently no incentive to convert to bitcoin and spend, except for the discounts which are rarer.
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pereira4
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June 20, 2015, 07:30:03 PM |
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It'll be worth it when the barrier for entry is low or virtually non-existent and retailers are accepting bitcoin en masse. There is currently no incentive to convert to bitcoin and spend, except for the discounts which are rarer.
The incentive can be found when you buy overseas, but not much more. Other than that, people don't "feel" there's something wrong with Paypal or credit cards or whatever. The uses of Bitcoin are much deeper than that and after those are covered, general use of BTC will become a normalized thing, specially in the society we are approaching where there will be no cash anymore. |
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galbros
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June 20, 2015, 08:58:20 PM |
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All the motivation is for merchants. They avoid merchant fees. They get no chargebacks. But they're also going to get no sales (aside from enthusiasts), because consumers have no incentive to use it, whatsoever.
Where are the perks for consumers, in a situation where they're buying something with bitcoin?
I think the idea is that merchants can give a discount for using bitcoin just like some do for cash. I know that Amagi Metals gives people who pay with bitcoin their "cash" price while people who pay with credit cards pay a higher rate. So the trick is how merchants encourage customers to use, if they do I think many will. But otherwise you, and many other posters, are correct, there is no intrinsic advantage of bitcoin over other payment systems for consumers. |
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johnyj
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Beyond Imagination
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June 20, 2015, 11:48:37 PM |
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Bitcoin isn't worth it for people who don't have bitcoin. But if people have some bitcoin, things will be different People do not become bitcoin consumers over night. They typically first purchase bitcoin, then hold it for years, and then when their bitcoin have raised in value multiple times, they become the bitcoin consumer  |
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dollarneed
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June 21, 2015, 12:04:10 AM |
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I think bitcoin is really worh for me as a bitcoin's costumer i will adoption bitcoin as a payment i feel free to make payment just by cliking a link,without login, forms to fill and would'nt need my identity,of course minimal fee to and many more, i spend my bitcoin to purchase vps,my intrnet conection and even converted it to the fiat so i feel bitcoin is awesome technology that have a multifuncion for me as a alternative payment.
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Amph
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June 21, 2015, 07:29:01 AM
Last edit: June 21, 2015, 10:10:01 AM by Amph |
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Bitcoin isn't worth it for people who don't have bitcoin. But if people have some bitcoin, things will be different People do not become bitcoin consumers over night. They typically first purchase bitcoin, then hold it for years, and then when their bitcoin have raised in value multiple times, they become the bitcoin consumer the problem is that they want it for free, because they see it as a scam, and they dion't want to invest a penny in it there is no trust in it at all, and this is preventing bitcoin from growing it is also true that the trust is build from big merchants first, then they will incite customers to use it |
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1986
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June 21, 2015, 09:17:10 AM |
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What only worries me, is previously mentioned time delay between sending coins and receiving confirmation. In brick and mortar stores it could be a problem. On the other hand BTC is a great solution for all types of on-line payments (especially fast and micro buys such as music, games DLCs, newspaper access and many more). On that field Bitcoin has many advantages over bank transfers and I am sure it will succeed.
The transaction is instant and you will pay the price of the value its worth when you sent it, but most merchants or 'brick and mortar stores' will use a payment processor anyway so they will get the fiat value in their account the moment the coins are sent. |
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poncho32
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June 21, 2015, 09:40:07 AM |
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All the motivation is for merchants. They avoid merchant fees. They get no chargebacks. But they're also going to get no sales (aside from enthusiasts), because consumers have no incentive to use it, whatsoever.
Where are the perks for consumers, in a situation where they're buying something with bitcoin?
I think the idea is that merchants can give a discount for using bitcoin just like some do for cash. I know that Amagi Metals gives people who pay with bitcoin their "cash" price while people who pay with credit cards pay a higher rate. So the trick is how merchants encourage customers to use, if they do I think many will. But otherwise you, and many other posters, are correct, there is no intrinsic advantage of bitcoin over other payment systems for consumers. If chip and pin terminals start getting hacked then Bitcoin will have an advantage over debit cards. There are already skimming devices that people attach to ATMs, and these have made me wary of using any ATM outside a bank. If I could choose to use a Bitcoin ATM on the street I would prefer it over a normal cash ATM on the street. |
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1986
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June 21, 2015, 09:44:28 AM |
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All the motivation is for merchants. They avoid merchant fees. They get no chargebacks. But they're also going to get no sales (aside from enthusiasts), because consumers have no incentive to use it, whatsoever.
Where are the perks for consumers, in a situation where they're buying something with bitcoin?
I think the idea is that merchants can give a discount for using bitcoin just like some do for cash. I know that Amagi Metals gives people who pay with bitcoin their "cash" price while people who pay with credit cards pay a higher rate. So the trick is how merchants encourage customers to use, if they do I think many will. But otherwise you, and many other posters, are correct, there is no intrinsic advantage of bitcoin over other payment systems for consumers. If chip and pin terminals start getting hacked then Bitcoin will have an advantage over debit cards. There are already skimming devices that people attach to ATMs, and these have made me wary of using any ATM outside a bank. If I could choose to use a Bitcoin ATM on the street I would prefer it over a normal cash ATM on the street. You could just as easily if not easier hack peoples bitcoin wallets too. Most people will have to send their coins over wifi and via aps when they're out and about and both apps your phone and wi-fi are all vulnerable. Most people also don't use very secure passwords so if someone has your log in details the password could be relatively easy to bruteforce. |
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dblink
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June 21, 2015, 09:55:02 AM |
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Because you 'll probably be able to make payments just by clicking a link. No logins, no forms to fill, no need to move money in and out of payment proceross, minimal fees and a lot more.
But for all those things to happen, wider acceptance must be established so that the price can stabilize.
You are right, I did payments with bitcoins and found it hassle free compared to other payment methods. There is many advantage in Bitcoin money transfer comparing to conventional banking process is secure and reliable, sometime while we buy online ticket through banking transactions, if any error takes place, we have to wait for payback for longer time. |
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cellard
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June 21, 2015, 10:10:29 AM |
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Bitcoin isn't worth it for people who don't have bitcoin. But if people have some bitcoin, things will be different People do not become bitcoin consumers over night. They typically first purchase bitcoin, then hold it for years, and then when their bitcoin have raised in value multiple times, they become the bitcoin consumer Yeah but people don't want to convert their money into Bitcoin usually because they don't feel a need to do so, at least not in the developed world or exceptional situations. For example if I lived in Greece I sure as hell would put 50% of my wealth into it, but if you live in Germany or something, people aren't going to see a point beyond using it like a Gold investment in most cases. |
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