Is Circle the killer application?

[Wary]

The more I learning about Circle, the more I like it:

-All you need to buy bitcoins is just credit card.
-And you can sell them, to the same CC.
-From anywhere in the world (well, but China and Argentina).
-And americans don't even need CC (therefore, no fee).
-Deposits insured!
-Don't need to know a thing about blockchain, exchanges, even bitcoin address isn't necessary, email address will do.
-And all this - for free! (for americans, for now )
-And even more planned (like tool for neutering volatility).

So the question: is it the killer app we were waiting for so long?

P.S. (No, I'm not affiliated with the company in any way )

[1715244592]

1715244592

[1715244592]

1715244592

[1715244592]

1715244592

[Nubitcoinerr]

Where would they get revenue from if there all no fees?

[Wary]

Where would they get revenue from if there all no fees?

No revenue yet. Currently they are burning venture funding (it's tens of millions $). According to their plans, revenueable (is there such a word? ) application will be build later, on top of current free infrastructure.

P.S. The score is 3:0 so far  

[BittBurger]

Hi -

I don't believe Bitcoin is in need of a killer app.  I belive Bitcoin is in need of a killer incentive.

Without incentive to use the currency in the first place, the general public is never going to use any "killer apps" that become available.

Circle could be the easiest thing ever to hit the Bitcoin space.  If consumers don't give a fuck about Bitcoin, they aren't going to use Circle.

It will simply be a killer app for people already in the Bitcoin ecosystem.

-B-

[RustyNomad]

Been using Circle now for a couple of days and like most of what it has to offer.

I believe that they are taking the right approach in keeping things as simple as possible so that even a noob can 'operate' the wallet.

[haploid23]

-All you need to buy bitcoins is just credit card.
-And you can sell them, to the same CC.

How does this work without an actual bank? When btc is sold, Circle use those funds to directly pay off the credit card statement? Terms on their website also state that you might be charged for cash advance fro the credit card, and those have ridiculously high fees.

[Keyser Soze]

How does this work without an actual bank? When btc is sold, Circle use those funds to directly pay off the credit card statement? Terms on their website also state that you might be charged for cash advance fro the credit card, and those have ridiculously high fees.

It sounds like you would be able to pay your credit card that way, but I haven't seen any confirmation yet. With regards to the cash advance, I believe they say that just to cover themselves, they have no way of knowing exactly what every bank will do. Circle does provide a merchant transaction code in the help section. If you are concerned about getting hit with a cash advance fee, you should be able to ask your bank how they would process that code.

[galbros]

Where would they get revenue from if there all no fees?

I think Circle is indeed a very good thing^TM but not a killer app.  A killer app is something that justifies bitcoin's use, silk road was probably the closest thing to a killer app bitcoin had.  Now maybe it will be international payments or something.

However, Circle does make it easier to get into bitcoin.

Finally, I worry about Nub's point, if this was a low budget site we'd assume the business plan was to Run Away with the Coins once the balance got high enough.  I'd like to see some real explanation of how they are going to be a sustainable business.

[knight22]

No because circle does not make people need bitcoin juste making it very accessible.

[inBitweTrust]

No because circle does not make people need bitcoin juste making it very accessible.

Yes, when I think killer apps, I think of something that you can only do with bitcoin which forces someone to buy bitcoin.

Openbazaar is one such killer app in the future.

[Wary]

No because circle does not make people need bitcoin juste making it very accessible.

Yes, when I think killer apps, I think of something that you can only do with bitcoin which forces someone to buy bitcoin.

Have to agree with you. OK, go back to waiting. (No, I'm not a kind of person that can create such an app myself ).

[zimmah]

Maybe, I'm not sure.

It is surely simple enough for the general public to understand.

But I'm never sure about these things

A couple of years ago in the early days of twitter I was like "well this is never going to take off, who would ever want to sign up for a website where you can only send short messages for the whole world to see?". I was amazed when twitter actually became popular.

People like simple stuff, especially simple people, and there's a lot of simple people around nowadays.

Just one thing, credit cards are not very popular outside of USA. So if credit cards are the only option, it will never take off outside of the USA.

[SquareApple]

Yeah, I agree.  Since Bitcoins are decentralized, it's hard to get good incentive for people to use it.  Look at the Beats headphones for example.  They're sub par headphones that cost loads of money, yet they sell like hot cakes because of the intense amounts of money spent on marketing and celebrity endorsement, which made the mainstream public associate it with being cool

[blumangroup]

Where would they get revenue from if there all no fees?

I think Circle is indeed a very good thing^TM but not a killer app.  A killer app is something that justifies bitcoin's use, silk road was probably the closest thing to a killer app bitcoin had.  Now maybe it will be international payments or something.

However, Circle does make it easier to get into bitcoin.

Finally, I worry about Nub's point, if this was a low budget site we'd assume the business plan was to Run Away with the Coins once the balance got high enough.  I'd like to see some real explanation of how they are going to be a sustainable business.

They obviously make some kind of spread between the amount they buy bitcoin for from the amount they sell bitcoin for. I would also not be surprised if they enter bitcoin payment processing business at some point in the future.

I don't think they are planning on running away with people's money as they are not giving financial incentives to hold your bitcoin with them

[Undermood]

Circle is very impressive recently. Specially, they provided 100% deposit guarantee.

[Holysmoke]

The guarantee is about as trustworthy as a VPN that says they don't log

[hyphymikey]

Once people NEED bitcoin, Circle will become the killer application.

I've used it several times already and love how easy it is.

[cafucafucafu]

Hi -

I don't believe Bitcoin is in need of a killer app.  I belive Bitcoin is in need of a killer incentive.

Without incentive to use the currency in the first place, the general public is never going to use any "killer apps" that become available.

Circle could be the easiest thing ever to hit the Bitcoin space.  If consumers don't give a fuck about Bitcoin, they aren't going to use Circle.

It will simply be a killer app for people already in the Bitcoin ecosystem.

-B-

Spot on! Try telling it to these evangelists.

[igl00]

circl should rock

[5000Bitcoins]

Yes. Now the average joe can use BTC easy while avoiding phrases that are confusing to them.