Why use bitcoins when my dollars are working just fine for me?

[tooil]

Dollar is still a preferable medium of exchange for many people.

[sublime5447]

Perhaps an equally important question is:
"Why use dollars when my bitcoins are working just fine for me?"

Regardless, here are some reasons a merchant might prefer to accept bitcoins:

• Lower transaction costs
• No chargebacks
• Reduces fraud
• Increased anonymity for their customers
• No need to inform a customer that their card has been denied
• Deflationary nature increases likelihood that a sale in the present will be worth more to them in the future
• Protects their customer from dishonest employees that might try to steal credit card info
• Protects the company against dishonest employees that might try to steal cash from the cash register

And here are some reasons why a customer might prefer to pay with bitcoins:

• Lower transaction costs
• Reduces fraud
• Reduces risk of identity theft and theft of credit card info
• Funds protected against being frozen or seized
• Deflationary nature increases likelihood that bitcoins acquired in the past will provide greater value in the present
• Inconvenient and expensive to convert your bitcoin investment into dollars in order to spend any of it.  Far more convenient to simply spend it directly (try that with your stock investment)

Danny, I respect the hell out of honest traders like yourself, but this is bullshit.

Lower transaction cost my ass. Paypal lets me send for free if I want to take the risk in the transaction.. its hard to beat free.
No charge back might be good for merchants but sucks a big one for customers
Reduces fraud? have you looked over scam accusations on the forum? fraud is rampant
Anonymity is not important in 99.9 percent of transactions
deflation is as immoral as inflation... the only thing that changes is who is being robbed.
Far more convenient to simply spend it.. as long as you dont want food or gas.

The truth is there is no good reason to use bitcoin except for illicit purposes and it doesn't do a great job of that.
 

Here are your points dissected one by one

• Bitcoin also supports free. Bitoins not moved recently get processed fast even with 0 fee. The fee is there to prevent spam (and initiative for the miners after the rewards run out
• chargebacks are coming with bitcoin too in the form of 2 of 3 multi-sig based escrow. You pay for arbitrate only if there is dispute. Now with paypal you pay fee always
• yes, because people don't use escrow, that will quickly change as more easy to use tools come, they are being developed as we speak
• Anonymity WILL become more important as governments become more intrusive
• With deflation you don't rob anyone, you simply get rewarded for choosing to postpone your consumption
• it has tons of other purpose other than drugs, and obviosly does great job at ordering drugs

Bitcoin supports free transactions if you wanna wait 3 days.. paypal is instant
Paypal has 0 fees if you send as a gift.. it cost nothing you dont always pay a fee.


I love the deflation bias around here.. inflation robs currency savers, deflation robs currency borrowers.   

[hodap]

Perhaps an equally important question is:
"Why use dollars when my bitcoins are working just fine for me?"

Regardless, here are some reasons a merchant might prefer to accept bitcoins:

• Lower transaction costs
• No chargebacks
• Reduces fraud
• Increased anonymity for their customers
• No need to inform a customer that their card has been denied
• Deflationary nature increases likelihood that a sale in the present will be worth more to them in the future
• Protects their customer from dishonest employees that might try to steal credit card info
• Protects the company against dishonest employees that might try to steal cash from the cash register

And here are some reasons why a customer might prefer to pay with bitcoins:

• Lower transaction costs
• Reduces fraud
• Reduces risk of identity theft and theft of credit card info
• Funds protected against being frozen or seized
• Deflationary nature increases likelihood that bitcoins acquired in the past will provide greater value in the present
• Inconvenient and expensive to convert your bitcoin investment into dollars in order to spend any of it.  Far more convenient to simply spend it directly (try that with your stock investment)

Danny, I respect the hell out of honest traders like yourself, but this is bullshit.

Lower transaction cost my ass. Paypal lets me send for free if I want to take the risk in the transaction.. its hard to beat free.
No charge back might be good for merchants but sucks a big one for customers
Reduces fraud? have you looked over scam accusations on the forum? fraud is rampant
Anonymity is not important in 99.9 percent of transactions
deflation is as immoral as inflation... the only thing that changes is who is being robbed.
Far more convenient to simply spend it.. as long as you dont want food or gas.

The truth is there is no good reason to use bitcoin except for illicit purposes and it doesn't do a great job of that.
 

Here are your points dissected one by one

• Bitcoin also supports free. Bitoins not moved recently get processed fast even with 0 fee. The fee is there to prevent spam (and initiative for the miners after the rewards run out
• chargebacks are coming with bitcoin too in the form of 2 of 3 multi-sig based escrow. You pay for arbitrate only if there is dispute. Now with paypal you pay fee always
• yes, because people don't use escrow, that will quickly change as more easy to use tools come, they are being developed as we speak
• Anonymity WILL become more important as governments become more intrusive
• With deflation you don't rob anyone, you simply get rewarded for choosing to postpone your consumption
• it has tons of other purpose other than drugs, and obviosly does great job at ordering drugs

Bitcoin supports free transactions if you wanna wait 3 days.. paypal is instant
Paypal has 0 fees if you send as a gift.. it cost nothing you dont always pay a fee.


I love the deflation bias around here.. inflation robs currency savers, deflation robs currency borrowers.   

Long term project usually factor in inflation and deflation. And smart market participants usually do deal which favor them.

[Bitcoin For Dummies]

Perhaps an equally important question is:
"Why use dollars when my bitcoins are working just fine for me?"

Regardless, here are some reasons a merchant might prefer to accept bitcoins:

• Lower transaction costs
• No chargebacks
• Reduces fraud
• Increased anonymity for their customers
• No need to inform a customer that their card has been denied
• Deflationary nature increases likelihood that a sale in the present will be worth more to them in the future
• Protects their customer from dishonest employees that might try to steal credit card info
• Protects the company against dishonest employees that might try to steal cash from the cash register

And here are some reasons why a customer might prefer to pay with bitcoins:

• Lower transaction costs
• Reduces fraud
• Reduces risk of identity theft and theft of credit card info
• Funds protected against being frozen or seized
• Deflationary nature increases likelihood that bitcoins acquired in the past will provide greater value in the present
• Inconvenient and expensive to convert your bitcoin investment into dollars in order to spend any of it.  Far more convenient to simply spend it directly (try that with your stock investment)

Danny, I respect the hell out of honest traders like yourself, but this is bullshit.

Lower transaction cost my ass. Paypal lets me send for free if I want to take the risk in the transaction.. its hard to beat free.
No charge back might be good for merchants but sucks a big one for customers
Reduces fraud? have you looked over scam accusations on the forum? fraud is rampant
Anonymity is not important in 99.9 percent of transactions
deflation is as immoral as inflation... the only thing that changes is who is being robbed.
Far more convenient to simply spend it.. as long as you dont want food or gas.

The truth is there is no good reason to use bitcoin except for illicit purposes and it doesn't do a great job of that.
 

Here are your points dissected one by one

• Bitcoin also supports free. Bitoins not moved recently get processed fast even with 0 fee. The fee is there to prevent spam (and initiative for the miners after the rewards run out
• chargebacks are coming with bitcoin too in the form of 2 of 3 multi-sig based escrow. You pay for arbitrate only if there is dispute. Now with paypal you pay fee always
• yes, because people don't use escrow, that will quickly change as more easy to use tools come, they are being developed as we speak
• Anonymity WILL become more important as governments become more intrusive
• With deflation you don't rob anyone, you simply get rewarded for choosing to postpone your consumption
• it has tons of other purpose other than drugs, and obviosly does great job at ordering drugs

Bitcoin supports free transactions if you wanna wait 3 days.. paypal is instant
Paypal has 0 fees if you send as a gift.. it cost nothing you dont always pay a fee.


I love the deflation bias around here.. inflation robs currency savers, deflation robs currency borrowers.   

the instant paid ones are still cheaper than paypal
paypal tends to freeze your funds because the weather changed too fast
are you seriosly comparing those 2 things actually? Just that makes the conversation with you pointless

[earnabit]

So you don't have to deal with having money stolen from paypal.

[Baitty]

So you don't have to deal with having money stolen from paypal.

I don't think that is why Bitcoin is popular because of paypal issues. its more likely the concept of Bitcoin being virtual and a new currency. But what I think makes it even more popular is that people hate getting screwed over by banks and hate that banks are in control of your own money. thats why I think Bitcoin will succeed and why its better than dollars etc.

[hollowframe]

Perhaps an equally important question is:
"Why use dollars when my bitcoins are working just fine for me?"

Regardless, here are some reasons a merchant might prefer to accept bitcoins:

• Lower transaction costs
• No chargebacks
• Reduces fraud
• Increased anonymity for their customers
• No need to inform a customer that their card has been denied
• Deflationary nature increases likelihood that a sale in the present will be worth more to them in the future
• Protects their customer from dishonest employees that might try to steal credit card info
• Protects the company against dishonest employees that might try to steal cash from the cash register

And here are some reasons why a customer might prefer to pay with bitcoins:

• Lower transaction costs
• Reduces fraud
• Reduces risk of identity theft and theft of credit card info
• Funds protected against being frozen or seized
• Deflationary nature increases likelihood that bitcoins acquired in the past will provide greater value in the present
• Inconvenient and expensive to convert your bitcoin investment into dollars in order to spend any of it.  Far more convenient to simply spend it directly (try that with your stock investment)

Danny, I respect the hell out of honest traders like yourself, but this is bullshit.

Lower transaction cost my ass. Paypal lets me send for free if I want to take the risk in the transaction.. its hard to beat free.
No charge back might be good for merchants but sucks a big one for customers
Reduces fraud? have you looked over scam accusations on the forum? fraud is rampant
Anonymity is not important in 99.9 percent of transactions
deflation is as immoral as inflation... the only thing that changes is who is being robbed.
Far more convenient to simply spend it.. as long as you dont want food or gas.

The truth is there is no good reason to use bitcoin except for illicit purposes and it doesn't do a great job of that.
 

Here are your points dissected one by one

• Bitcoin also supports free. Bitoins not moved recently get processed fast even with 0 fee. The fee is there to prevent spam (and initiative for the miners after the rewards run out
• chargebacks are coming with bitcoin too in the form of 2 of 3 multi-sig based escrow. You pay for arbitrate only if there is dispute. Now with paypal you pay fee always
• yes, because people don't use escrow, that will quickly change as more easy to use tools come, they are being developed as we speak
• Anonymity WILL become more important as governments become more intrusive
• With deflation you don't rob anyone, you simply get rewarded for choosing to postpone your consumption
• it has tons of other purpose other than drugs, and obviosly does great job at ordering drugs

Bitcoin supports free transactions if you wanna wait 3 days.. paypal is instant
Paypal has 0 fees if you send as a gift.. it cost nothing you dont always pay a fee.


I love the deflation bias around here.. inflation robs currency savers, deflation robs currency borrowers.   

You don't need to wait three days with bitcoin if you don't include a TX fee as long as the size of the TX is small enough. The TX fee with bitcoin is ~$0.06 on average regardless so it is close to free.

Paypal may show up on your account instantly however there is still a risk of a reversal/chargeback for several months, while that risk of more or less gone after 6 confirmations with bitcoin.

[littlewizard]

Besides a payment method, I believe bitcoin can work as an investment similar with gold.

[Bitcoin For Dummies]

So you don't have to deal with having money stolen from paypal.

I don't think that is why Bitcoin is popular because of paypal issues. its more likely the concept of Bitcoin being virtual and a new currency. But what I think makes it even more popular is that people hate getting screwed over by banks and hate that banks are in control of your own money. thats why I think Bitcoin will succeed and why its better than dollars etc.

yes, one of the main points for me, that many people miss is that with bitcoin you are finally in control of your own finances.

[abercrombie]

Interesting start on the Youtube channel, however, I would respectfully suggest a new branding before you get too far with this venture.  

The "FOR DUMMIES" lingo is trademarked by Wiley Publishing, Inc.

[Bitcoin For Dummies]

Bitcoin For Dummies was available last time I checked. Not sure if they have a catch all trade mark for all ending on dummies?

[sublime5447]

So you don't have to deal with having money stolen from paypal.

I don't think that is why Bitcoin is popular because of paypal issues. its more likely the concept of Bitcoin being virtual and a new currency. But what I think makes it even more popular is that people hate getting screwed over by banks and hate that banks are in control of your own money. thats why I think Bitcoin will succeed and why its better than dollars etc.

yes, one of the main points for me, that many people miss is that with bitcoin you are finally in control of your own finances.

No your not. The guy who bought 30k of them off the feds is in control, knc is in control, the winklevoss twin are in control. They are in control of the supply and the value of bitcoins. The central authority is play boy millionaires just like the dollar.

[RodeoX]

Those dollars don't "work for you", there not even yours. They belong to the federal reserve.

[gbooz]

I don't think that being "yours" or "not yours" is a big issue when you are paying (and somebody is accepting your payment) say for pizza or real estate. BTC is "virtually yours" but not widely accepted for day-to-day payments.

[CryptoPanda]

So you don't have to deal with having money stolen from paypal.

I don't think that is why Bitcoin is popular because of paypal issues. its more likely the concept of Bitcoin being virtual and a new currency. But what I think makes it even more popular is that people hate getting screwed over by banks and hate that banks are in control of your own money. thats why I think Bitcoin will succeed and why its better than dollars etc.

yes, one of the main points for me, that many people miss is that with bitcoin you are finally in control of your own finances.

No your not. The guy who bought 30k of them off the feds is in control, knc is in control, the winklevoss twin are in control. They are in control of the supply and the value of bitcoins. The central authority is play boy millionaires just like the dollar.

Winklevoss are in control of 1% of the supply, so what?

the 30k bitcoins are even less than 1%

knc is not the only mining manufacturer at all


so what you are saying exactly?

[ajareselde]

Besides a payment method, I believe bitcoin can work as an investment similar with gold.

Yes, definetly.
One of the great things about bitcoin, and what makes it much better option than dollar or some other fiat, is that it can be moved without insane fees.
And, like you said, it has amazing investment area, as it can be used as a store of value.

Anyone talking about bitcoin scepticly has been prooven wrong, now if we could do something more about the safety to prevent dumbos from loosing their wallets, it would be even better.

cheers

[jonanon]

Limited supply must top the list, I'd have to say gold would be my preferred alternative to fiat!

[gbooz]

Besides a payment method, I believe bitcoin can work as an investment similar with gold.

Yes, definetly.
One of the great things about bitcoin, and what makes it much better option than dollar or some other fiat, is that it can be moved without insane fees.
And, like you said, it has amazing investment area, as it can be used as a store of value.

Anyone talking about bitcoin scepticly has been prooven wrong, now if we could do something more about the safety to prevent dumbos from loosing their wallets, it would be even better.

cheers

Shell money from Timbuktu are even more safe than BTC but is it the right investment? Safety of BTC is mythologized due to the fact that IT infrastructure, PCs are not totally safe.

[Nerazzura]

My simple answer is that, every time you use your credit card, you're going to pay a heinous interest fee if you don't pay off the credit card right away. When you use cash, that's time you waste while the cashier counts it and makes change. (Those seconds add up, folks.) With Bitcoin, you can keep it in a mobile wallet and have all the convenience of paying quickly just by scanning a QR code with none of the interest rate. If you're watching your budget, you can simply convert some of your dollars into Bitcoin before you go into a store that accepts Bitcoin, and then however much is in your mobile wallet is how much you have to spend.

Many who suffered losses due to investing in Bitcoin even though not understanding the currency. "They do not know when to buy, sell, and so on. Prior investments, are absolutely knowing the intricacies of the investment,

[Kayex]

I agree with some of the users.
It's a bit too early to include ordinary people with no knowledge of BTC.
However, I like to use BTC because it's as easy as sending money via paypal.
But there are no transaction fees!