bitcoin is a solution without a problem?

[ikydesu]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I'm an asian and so many problem with credit card, paypal(my account 5 times got limit ), western union(expensive) so bitcoin is solution for my problem.


~iki

[Hamuki]

There is a problem.
Only governments have the control of all economics.

Only banks hold your money.

[Kazimir]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

Ask them:



















Without a problem, you say?  

[koelen3]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

I never saw it that way, it sure is a great way and has alot less fee

[BitmoreCoin]

With competition like Paypal, Bitcoin has a very bright future.

Yes. Bitcoin can also be part of the currencies used by Paypal.

[Envrin]

Personally, I think it's just a matter of education for the most part, plus us developers making tools / services that make it easier and more available to the masses.  Year after year, taxes go up, inflation takes a bite, and wages stay stagnant.  People are getting squeezed more and more, and it's unsustainable.  At some point, you're going to begin seeing the balance tip, and people looking for ways to save money.

When this happens, the demand to get paid in bitcoin will increase, because as merchant adoption spreads, people will begin realizing 30%+ of their income can be tax free.

[Amitabh S]

I wanted to order something from Newegg. It was not accepting my credit card due to some vague reason "credit card billing address must be in USA".. WTF??? It was not letting me use my credit card and the other "fiat" options.

Then I noticed that Bitcoin is a payment method..... I made the purchase via that and Bam! no "US billing address" requirement.

On a side note the invoice said "in case of cancellations, it will be returned to your bitcoin" ()
(and that's misleading. They don't refund in bitcoin but give you store credit. but that's another topic)

Just pointing out that its not entirely a solution without a problem.

[Houseman]

This is quite an old video, but it states the main problems to which Bitcoin is a solution: https://www.youtube.com/watch?v=n2TIMhCTPfg&feature=youtu.be

What I personally view as a really big problem is payment card fraud. Bitcoin helps eliminate this, which should be an important point for merchants.

[Enzyme]

Bitcoin is a solution, but it does have problems that need to be solved.
A currency, just isn't a currency if it has volatility.

[picolo]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

Sending money is very expensive, the third party risk is big, saving in fiat is horrible when the central bank is printing a lot of fiat ect.

[Q7]

Bitcoin is a solution, but it does have problems that need to be solved.
A currency, just isn't a currency if it has volatility.

I feel the same way as well but I always thought one of the solution to all these problems can only be if bitcoin has its own enclosed ecosystem. that is.... If I earn my pay in bitcoin, I can spend almost everything I need for my daily necessities also paid in bitcoin. That way, I'll never ever be bother about price conversion, whether it is up, or it is down because I will never have to convert back to fiat to purchase anyway.

[lucasjkr]

Credit cards where never meant for the internet.  You need a push system, not a pull system.  Like bitcoin.

A push system makes things like recurring automatic payments difficult, if not impossible, no?

[cellard]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

No, the problem is here, it's just at that people aren't exposed to it just yet. But talk to the Greeks and you'll see soon how Bitcoin is a serious solution.

[picolo]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I'm an asian and so many problem with credit card, paypal(my account 5 times got limit ), western union(expensive) so bitcoin is solution for my problem.


~iki

Bitcoin is a good way to travel with values and not have your wealth linked to banks or problems that happens where it is.

[cambda]

The biggest Bitcoin problem is having secure computer for your wallet. Hardware wallets can help here, but not every one. So definitively Bitcoin is not easy solution, but better than freezing part of your ballance because national debts has to be paid somehow, look at Cyprus, or the EU proposals for bank transfer taxes. The debt based currency is just joke, luckily Bitcoin becomes beter and better viable alternative as Bitcoin is more adopted and developed every year

[tss]

yes bitcoin is not for those in civilized countries or those with good credit and access to low fee banking.  if and after it picks up in developing world in the us people who use reloadable cards like rushcards etc will probably switch to btc.

[ebliever]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

[koelen3]

I wanted to order something from Newegg. It was not accepting my credit card due to some vague reason "credit card billing address must be in USA".. WTF??? It was not letting me use my credit card and the other "fiat" options.

Then I noticed that Bitcoin is a payment method..... I made the purchase via that and Bam! no "US billing address" requirement.

On a side note the invoice said "in case of cancellations, it will be returned to your bitcoin" ()
(and that's misleading. They don't refund in bitcoin but give you store credit. but that's another topic)

Just pointing out that its not entirely a solution without a problem.

What so it's useless without a US Billing Address

[picolo]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

"Why should I use Email when I have the postal service and UPS? Email is a solution without a problem."

The stupid, it hurts.

Last fall I had a contractor re-excavate a silted-in pond on my property for a cost of $18,000. He was an old codger and wouldn't take bitcoin, so I had to pay him the old fashioned way. On the 23rd of the month he finished up and mentioned having to make some payments on the first of the following month, so in good faith I told him I'd do my best to get him his funds by then; he'd done a good job so it was the least I could do.

So I spent the extra $50 for expedited processing as I sold some stock and had funds wired to my checking account; soon as they arrived I mailed him the check and called him to let him know it was coming. The cost? $147 in fees on my end. And despite my effort, we missed the deadline. It took 11 days for my "expedited" payment to reach his bank account.

$147 and 11 days, versus $0.03 and 30 minutes with bitcoin. Tell me again how bitcoin is a solution without a problem?

And you just describe one of the comparative advantage of bitcoin.

[dothebeats]

99% of the time that's what I hear from 'average' people:

"Why should I use Bitcoin when I have a credit card and Paypal? Bitcoin is a solution without a problem ... "

I think Bitcoin will catch fire first in the developing countries, especially Africa, where people have few access to banking services and where remittances from family members living outside Africa are so critical. Neither Western Union nor wire transfer is the best service for family members in 1st world countries to send money to third world countries ...

Most of the average people misunderstood the concept behind bitcoin. Maybe they're just accustomed to paying high transaction fees with their credit cards and banks. Bitcoin is a solution to many problems, to be honest. One of it was the high transaction fees being implemented by banks and other credit unions.