wallywattz (OP)
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January 13, 2015, 09:35:13 PM |
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As far as I know, there aren't any incentives for companies that accept Bitcoin to hold that Bitcoin, other than speculation. The large majority of them probably just convert immediately back to fiat, putting sell pressure on BTC. Is there anything that the payment processors (BitPay, Coinbase, etc.) can do to incentivize the companies to hold some of the Bitcoin? Something like a reduced fee schedule if you hold X% of revenue in BTC. Ideas?
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Flashman
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January 13, 2015, 09:44:40 PM |
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What would incentivise the payment processors to incentvise it?
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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wallywattz (OP)
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January 13, 2015, 10:02:16 PM |
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I'm assuming they make a good chunk of their money in BTC. If clients holding BTC means less sell pressure which results in higher BTC price, then that would benefit them. Generally, I think the payment processors want to encourage the growth of the ecosystem. More companies holding/using BTC, the better.
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EvilDave
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January 13, 2015, 10:10:09 PM |
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One way out of our current shitty situation is to create a new demand stream for BTC, to help balance out the tendency of merchants (and miners) to cash out immediately to fiat.
There's been a couple of developments on this recently: employees getting paid in crypto. Overstock employees can now receive some/all of their monthly salary in BTC.
If more BTC-accepting companies offered this option, they would have a reason to hold the BTC they recieve, or maybe even to buy in more.
I think this is an area that the payment processing companies should be looking at....they already have most of the infrastructure in place to handle salary payments in crypto, shouldn't take too long to get systems set up.
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Flashman
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January 13, 2015, 10:13:43 PM |
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There's 5000 convenience stores in Taiwan, 10,000 ATMs in Spain, all just been BTC enabled.... nobody wants good news though.
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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countryfree
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Your country may be your worst enemy
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January 13, 2015, 10:22:34 PM |
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There's 5000 convenience stores in Taiwan, 10,000 ATMs in Spain, all just been BTC enabled.... nobody wants good news though.
I am in Spain, where are those 10,000 ATMs? Can you give a map? |
I used to be a citizen and a taxpayer. Those days are long gone.
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theblacksquid
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January 14, 2015, 12:46:32 AM |
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There's 5000 convenience stores in Taiwan, 10,000 ATMs in Spain, all just been BTC enabled.... nobody wants good news though.
I am in Spain, where are those 10,000 ATMs? Can you give a map? |
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theblacksquid
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January 14, 2015, 12:50:43 AM |
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And I agree with EvilDave that BTC wages and other so called "loop-closers" are what's needed to raise, or at least, stabilize, the price (Business2Business Payments, Tipping, etc)
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halfawake
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January 14, 2015, 05:18:32 AM |
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Two things: first, encourage them to pay their employees (at least in part) in bitcoin. Second, encourage them to ask their suppliers to accept bitcoin as a payment, and so on. If they ask their suppliers, some say yes, and they do the same with their suppliers...eventually we won't need the payment processors.
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BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
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Brewins
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January 14, 2015, 05:23:43 AM |
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Nothing can be done to incentive companies to hold Bitcoin while BTC is seen like something that can crash $100's of dollars in few days and that might does not exist somewhere in future
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HeroCat
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January 14, 2015, 08:21:14 AM |
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Bitcoin just will be more and more popular, and many sites will start to use it more and more  |
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