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Author Topic: Points, Miles, Cash-back... Should we create similar systems in bitcoin?  (Read 231 times)
Vatimins
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September 14, 2020, 11:44:42 AM
 #21

     I am all for new things happening to bitcoin and all that helps it get known to many more people who are unaware of this industry but the thing here though is that if you really try to understand what bitcoin is or how the people in this industry sees bitcoin and uses it, then you would see that it would be quite difficult for your suggestion to be realized. Just to be clear though, I am not against the idea, I just think that it is very unlikely to happen.

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September 15, 2020, 05:14:04 AM
 #22

OP, the fact that you asked that shows that you don't truly understand what actually Bitcoin is. It's not merely a cheap consumer product, plus if it doesn't solve an inefficiency, then it wouldn't be used.

Agree, in this respect Bitcoin is upwards close to gold than money and should be is considered to all intents and purposes as the store of value rather than cash for everyday use. Paying merchants with Bitcoin had so far been limited. And it’s unlikely that things will change anytime soon. And  for a clincher :


You already have your fiat for everyday use, it's efficient, but if to purchase heroine from a TOR dark market that banks cannot serve, there's nothing, there's an inefficiency. Bitcoin fixes this.

Yea, I have and in the case of complete black-out it can be used to pay for something I need which is not true for bitcoin that becomes useless in such circumstances. With regard to  dark market it is very limited in size. Considering  Bitcoin as a cash is mooning which is not prohibited to do if it soothes somebody.

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September 15, 2020, 05:30:10 AM
 #23

OP, the fact that you asked that shows that you don't truly understand what actually Bitcoin is. It's not merely a cheap consumer product, plus if it doesn't solve an inefficiency, then it wouldn't be used.

Agree, in this respect Bitcoin is upwards close to gold than money and should be is considered to all intents and purposes as the store of value rather than cash for everyday use. Paying merchants with Bitcoin had so far been limited. And it’s unlikely that things will change anytime soon. And  for a clincher :


You already have your fiat for everyday use, it's efficient, but if to purchase heroine from a TOR dark market that banks cannot serve, there's nothing, there's an inefficiency. Bitcoin fixes this.

Yea, I have and in the case of complete black-out it can be used to pay for something I need which is not true for bitcoin that becomes useless in such circumstances. With regard to  dark market it is very limited in size. Considering  Bitcoin as a cash is mooning which is not prohibited to do if it soothes somebody.


In a complete black out, the world returns to the stone age, then not money or currencies, decentralized or centralized, digital or physical, would be the priority of our needs.

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grabpopcorn536
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September 15, 2020, 10:44:43 AM
 #24

Those concepts don't exist in blockchain and people don't care much about it either. The types of promotions, bonuses, or cashback have existed in ICOs before and it's just a business way for people to participate in contributing more to the project.
Blockchain is decentralized and doesn't need those elements.

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September 15, 2020, 07:00:39 PM
 #25

OP, the fact that you asked that shows that you don't truly understand what actually Bitcoin is. It's not merely a cheap consumer product, plus if it doesn't solve an inefficiency, then it wouldn't be used.

If you want to insult me like that, at least quote me, and then do it.

I don't understand bitcoin? Really?

Well, I've only been here since 2012. I clearly don't understand bitcoin. In all that time, I've been faking it.
I don't understand that bitcoin, as a protocol and currency is completely decentralized.

I also don't understand that bitcoin gets distributed through a proof of work algorithm and that there is no central authority. I don't understand that it works using cryptography.

I don't understand the mantra "not your keys, not your bitcoin"

Given all that my post is clearly stupid and I was waiting for you to enlighten me. Now you have shown me the error of my ways.



If you want to post on a thread, please make an effort to follow what has already been said, just skimming it is fine


I've already made my points clear so I won't re-iterate them. But you can have another crack at me if you'd like.
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September 16, 2020, 05:21:16 AM
 #26


Pay with bitcoin and save 2% as the standard (over credit cards) would go a long way if we want bitcoin to spread.


What do you mean by "We" creating this? Isn't this just up to merchants if they want to support bitcoin and give discounts if paid with it? If some merchants want to support bitcoin they will try to lure in bitcoiners by discounts. But even if they prefer getting bitcoin, they will most likely buy it from the market with the profits they made with fiat money.

Also, i am already getting my cash-back in bitcoin with my Wirex card.

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Wawa2013
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September 16, 2020, 06:27:02 AM
 #27

For countries that have legalized Bitcoin as payment, we can try a credit card system running in Bitcoin payment.
But depending on the merchants whether they are willing to run the system on Bitcoin payments or not, What is
certain is that merchants doing this must have benefits that they get. If not, I doubt any merchants would be willing
to do so.

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September 16, 2020, 02:10:16 PM
 #28

OP, the fact that you asked that shows that you don't truly understand what actually Bitcoin is. It's not merely a cheap consumer product, plus if it doesn't solve an inefficiency, then it wouldn't be used.

If you want to insult me like that, at least quote me, and then do it.

I don't understand bitcoin? Really?

Well, I've only been here since 2012. I clearly don't understand bitcoin. In all that time, I've been faking it.
I don't understand that bitcoin, as a protocol and currency is completely decentralized.


I'm sorry, I didn't try to insult you. I was only confused because I know you are a crypto OG from 2012, yet you asked a question as if treating Bitcoin like a cheap consumer product would attract customers.

Sorry, I'm just a pleb.

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September 16, 2020, 03:14:12 PM
 #29

Most likely, this will happen over time. There are already prerequisites for creating such systems.

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September 17, 2020, 06:57:06 AM
 #30

Most likely, this will happen over time. There are already prerequisites for creating such systems.


It isn't that simple in my opinion. Using OP's example of giving a 2% discount if you use Bitcoin instead of a credit card is a problem of efficiency. Would people go through the problem of buying Bitcoin just to have a discount? It's inefficient.

Plus there's also the opportunity cost.

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