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justanickname (OP)
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July 02, 2014, 06:30:55 AM |
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Pay with bitcoin is too difficult at this point I think because people need to learn what bitcoin is and how to use it and because it is volatile.
Instead people should pay via bitcoin. Lets Say I buy something from a US website but I am not from the US.
I got 3 options of payment:
pay with Paypal and it will cost me 102$
pay with bank wire and it will cost me 100$
pay via bitcoin and it will cost me 98$
pay via bitcoin = I pay 98$ worth of my country's currency, I don't know what bitcoin is and I don't care, all I know is it is cheaper than the other methods of payments. behind the scenes BTC is bought with my country's currency and the BTC are sold for US dollars to pay the website.
So this is like "bitpay" for the client side as well.
Do you think it is possible to make this "pay via BTC" cheaper than other methods at least for international purchases?
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ganabb
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July 02, 2014, 06:51:45 AM |
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yes, pay via BTC will be cheaper very soon.
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Justin00
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★YoBit.Net★ 350+ Coins Exchange & Dice
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July 02, 2014, 07:04:03 AM |
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Except when BTC is worth X and 10 minutes later its worth X + $50.
But if everyone thought like that this hole thing would fail. I suppose it could also be X - $50... so hmmm.. but yeah I use very very small amounts of BTC to buy stuff. Not that I buy much anyways.
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bounst
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July 02, 2014, 09:37:13 AM |
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yes, pay via BTC will be cheaper very soon.
Not faster than the season change. |
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Dogtanian
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July 02, 2014, 10:45:41 AM |
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You're trying to say people should get a small discount for paying in bitcoins? I think some stores have offered this, though it's likely many will offer the discount in the future. Some webstores actually charge a little extra to use credit cards and PayPal because of fees so I can't see why the opposite couldn't happen.
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blatchcorn
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July 02, 2014, 11:09:09 AM |
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This seems like a genius step towards mass acceptance
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guybrushthreepwood
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July 02, 2014, 11:14:10 AM |
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This seems like a genius step towards mass acceptance
I think it would be a great idea to offer a small discount if you paid with bitcoin as merchants can save money using it and pass on the benefits right back to the customer. It would surely be a great way to get people interested and using bitcoin. I know I like a bargain as many others do and the option to pay a little less will be very appealing to many. |
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justanickname (OP)
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July 02, 2014, 11:17:29 AM
Last edit: July 02, 2014, 01:51:05 PM by justanickname |
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You're trying to say people should get a small discount for paying in bitcoins?
No, I am asking if for international purchases it is possible to make the transaction cheaper than any other methods (without the seller giving and discount) if the process is: 1) buyer pays fiat money with his country's currency 2) the money from 1 is used to buy BTC 3) the BTC from 2 is used to buy seller's fiat currency 4) the money from 3 is payed to seller. 2+3 should be executed fast enough so there won't be any changes in BTC rate. |
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Anduck
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quack
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July 02, 2014, 11:22:08 AM |
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I think this kind of system could rock at payments for example between Africa and USA. Maybe some kind of LocalBitcoins ATM type solution could be used? Just needs a "node" at both ends.
Africa Node takes local currency and exchanges to BTC - and vice versa. USA Node does the same. Bitcoins are moved in blockchain (or inside a 3rd party like LocalBitcoins service.) Maybe these relatively new P2SH / multisig escrow things could make this doable without trusted middleman.
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knbitcoin
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July 02, 2014, 11:55:22 AM |
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Isn't Ripple pretty close to this?
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Anduck
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quack
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July 02, 2014, 12:37:41 PM |
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Isn't Ripple pretty close to this?
Yes, Ripple is pretty much this. |
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Meuh6879
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July 02, 2014, 12:46:07 PM |
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Pay with BTC is simple : - have a "smartphone" wallet -android wallet or mycelium- - scan the QR code bill - it's done  |
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elebit
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July 02, 2014, 12:49:53 PM |
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Isn't Ripple pretty close to this?
Yes, Ripple is pretty much this. For the described purpose it would be more suitable to use an IOU system such as Ripple. Bitcoin is more useful for inter-currency transfers. For intra-currency transfers an IOU system is less wasteful (and potentially faster as well). |
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Acidyo
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July 02, 2014, 12:55:28 PM |
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Pay with BTC is simple : - have a "smartphone" wallet -android wallet or mycelium- - scan the QR code bill - it's done Awesome contribution! You didn't even take a second to read the OP, did you? He obviously is trying to find a way people can pay with bitcoins without knowing they are paying with bitcoins. The process would eliminate the other fee's and only use bitcoins transfer fee. |
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Meuh6879
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July 02, 2014, 12:56:37 PM |
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you ask to introduce fee on a bitcoin payment ?
bitpay and paymium or other platform do this better than you ...
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gondel
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July 02, 2014, 01:06:13 PM |
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Except when BTC is worth X and 10 minutes later its worth X + $50.
But if everyone thought like that this hole thing would fail. I suppose it could also be X - $50... so hmmm.. but yeah I use very very small amounts of BTC to buy stuff. Not that I buy much anyways.
Thats why for example in one Bulgarian site for limited offers they acept BTC as payment method, but when you decide to buy something and choose the method of payment BTC they give you at last the amount you have to pay in BTC, but only valid for 20 minutes and then the offer expires whith which they clean their hands of BTC. |
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Nerazzura
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July 02, 2014, 02:35:19 PM |
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Pay with bitcoin is too difficult at this point I think because people need to learn what bitcoin is and how to use it and because it is volatile.
Instead people should pay via bitcoin. Lets Say I buy something from a US website but I am not from the US.
I got 3 options of payment:
pay with Paypal and it will cost me 102$
pay with bank wire and it will cost me 100$
pay via bitcoin and it will cost me 98$
pay via bitcoin = I pay 98$ worth of my country's currency, I don't know what bitcoin is and I don't care, all I know is it is cheaper than the other methods of payments. behind the scenes BTC is bought with my country's currency and the BTC are sold for US dollars to pay the website.
So this is like "bitpay" for the client side as well.
Do you think it is possible to make this "pay via BTC" cheaper than other methods at least for international purchases?
Many people are finally interested in Bitcoin is not only because the concept of money as representing the spirit of freedom that represents passion libertarians and anti-establishment, but also the technology he uses. Global integration of financial markets is currently hampered by one major problem. Move the most basic asset that is cash is still an expensive process, slow, and in an environment that is now infected by various fraudulent practices. For example, remittances through the banking automated clearing system can not be guaranteed settled on the same day. The process uses a software protocol that was built 40 years ago. Meanwhile, sending money via international wire also takes four to five days. The cost is too expensive which makes sending money in small amounts is not economical. Bitcoin transactions technology can offer a cheaper payment system compared mmelewati citing banking services sizeable commission. Banking services is currently done through a managed system Visa and Master Card |
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