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Author Topic: How Bitcoin is Different  (Read 1202 times)
Stephen Gornick
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March 17, 2011, 12:44:03 AM

Here's a blog post from Dwolla, contrasting themselves against PayPal.

Simply replacing the word Dwolla with Bitcoin makes a nice FAQ:

Why is DwollaBitcoin the best alternative to Paypal?

Bitcoin allows you to to receive payment directly from Bitcoin balances at an exceptionally low cost. A few nice applications are:

  • If your client selects to pay with Bitcoin, it won’t cost you a percentage based fee to get paid.
  • This allows you to get paid online for larger ticket items and services without losing a significant amount of money on the interchange.
  • You can now use electronic transactions where you could not previously.

Why should your business use Bitcoin?

  • There is a growing group of people using Bitcoin. It makes it easy to find new customers.
  • It doesn’t cost you anything if it goes unused.
  • There are no set up fees, monthly fees, or hidden costs.
  • It will allow you to receive payment for goods or services online even if you do not have a merchant account somewhere else.

The bottom line.

Bitcoin will never replace credit cards and it does not do the same thing Paypal does. Bitcoin is not a credit card/debit card system. However. We do represent a solution to merchants looking for other ways to accept payment electronically. If you want to aviod the interchange fee ( aka. swipe fee & credit card fees ) you can’t use credit or debit cards . You need to use a different service. That service is called Bitcoin.

If your company has not allowed electronic transactions to be used due to the swipe fee, Bitcoin finally gives you a solution. Even when sitting down to write a check keep this in mind. Using Bitcoin is less expensive than mailing a check, or driving it across town.

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The revolution will be monetized!

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April 07, 2011, 12:22:42 AM

Huh. That does sync up nicely.

The gospel according to Satoshi -

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April 07, 2011, 02:43:47 AM


©2010 Dwolla Corp. All Rights Reserved.


"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
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