I see two problems with your idea so far.
a. 3% is not a big enough of an incentive to consumers IMO and right now many new merchants often offer much more in discounts since they want bitcoin in trade to try to get some of the currency in their own wallets while it is growing.
I agree 3% does not seem much. But 3% is the max in view of cost saving from credit card transaction fee. Although we see more merchants accepting bitcoin, from what I see most do not pass on the savings to consumers. To encourage adoption, consumers must have incentive to spend bitcoin. And the most straightforward incentive is discount when making purchases.
b. the statement about exponential growth of merchants and not enough consumers, I don't agree with that at all, way more worker bees in the world than queen bees (business owners), plus each merchant putting I TAKE BITCOIN on their business or virtual store is one more ad to promote btc commerce for free.
From the price and trading volume, I am not convinced that consumers are growing rapidly. I may be wrong though.
I can see the 3% concept though, merchant gets same dollars for a btc trade compared to cc trade of equal value so loses nothing, but also gains nothing in saving on the fees, one of the benefits of being a btc merchant is saving on cc fees, so now your idea removes that reason merchants like bitcoin.
If a merchant gains more customers while charging the same price, it is a win to them.
Anyway, already many merchants offer way over 3% discounts, in our own network of digital goods we are starting out with 40% discounts for our catalogs of digital products which includes thousands of ebooks we have published, memberships to content sites, videos, music, films, etc.
Could you let us know the website? I will take a look. It will be interesting.
The problem with btc right now at this stage isn't growth, it's that the larger wallets belong mostly to crypto geeks, who could in theory crush the market when ever they say sell.
This is a possibility. The larger wallets could also belong to hedge funds like Barry Silbert’s Bitcoin Investment Trust and the Winklevoss twins’ bitcoin index fund.