[2015-07-28]Expedia’s Drop In Bitcoin Transactions To Be Blamed On Lack Of Consu

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Quote from: jdebunt on July 28, 2015, 08:36:42 AM

http://digitalmoneytimes.com/crypto-news/expedias-drop-bitcoin-transactions-blamed-lack-consumer-adoption/
In the case of Expedia, Bitcoin purchases have dropped by as much as 40% in recent months.

That's to be expected, isn't it?

Bitcoin priced dropped so much compared to late year. Customers who has bitcoin are likely to have purchased them at a much higher rate than the market price. They will be at a loss spending their bitcoin. It is "cheaper" for them to pay by credit card. Merchants who accept bitcoin can only expect bitcoin transactions to pick up after we see a surge in price.

Quote from: Chef Ramsay on July 28, 2015, 06:19:54 PM

I'd only be willing to reward companies that take bitcoin as a payment option if they offer appropriate discounts to make it worth my while. If they aren't willing to help incentivize more people to want to pay with bitcoin by offering these discounts then they deserve their fiat or less business in my mind.

I could comfortably say that they prefer fiat over bitcoin. Accepting bitcoin is a PR gimmick for them.

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Quote from: Chef Ramsay on July 28, 2015, 06:19:54 PM

I'd only be willing to reward companies that take bitcoin as a payment option if they offer appropriate discounts to make it worth my while. If they aren't willing to help incentivize more people to want to pay with bitcoin by offering these discounts then they deserve their fiat or less business in my mind.

I agree with the above two comments. Their savings aren't really enough that they can afford to pass them on to their customers but maybe over time they could if more people choose to use bitcoin. At the moment though I think we should just be happy that we can even spend our coins there at all. Some companies do offer a discount or other promotions for using bitcoin though like this https://www.cannabis-seeds-bank.co.uk/cannabis-seeds-news/new-humboldt-strains10off-bitcoin-promo/

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Quote from: jjacob on July 28, 2015, 08:45:33 PM

Quote from: Chef Ramsay on July 28, 2015, 06:19:54 PM

I'd only be willing to reward companies that take bitcoin as a payment option if they offer appropriate discounts to make it worth my while. If they aren't willing to help incentivize more people to want to pay with bitcoin by offering these discounts then they deserve their fiat or less business in my mind.

It will take some time before they see that they are saving on transaction costs and then decide to pass it on to customers. Right now, they are just offering bitcoin payment as a novelty option.

You must be naive to think businesses just like to pass savings to customers. The only reason they do that is competition. Remember lower cost doesnt always mean cheaper price. BUS 101 here

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Quote from: Chef Ramsay on July 28, 2015, 06:19:54 PM

I'd only be willing to reward companies that take bitcoin as a payment option if they offer appropriate discounts to make it worth my while. If they aren't willing to help incentivize more people to want to pay with bitcoin by offering these discounts then they deserve their fiat or less business in my mind.

It will take some time before they see that they are saving on transaction costs and then decide to pass it on to customers. Right now, they are just offering bitcoin payment as a novelty option.

Chef Ramsay

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I'd only be willing to reward companies that take bitcoin as a payment option if they offer appropriate discounts to make it worth my while. If they aren't willing to help incentivize more people to want to pay with bitcoin by offering these discounts then they deserve their fiat or less business in my mind.

Whitehouse

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My only worry with companies jumping on board and accepting bitcoins so quick is after the initial excitement and buzz of them accepting it interest or use will taper off so I just hope they don't decide to just ditch bitcoin all together. I think its early days for bitcoin and sales will pick up eventually. Personally I can't wait to spend my coins but wish to hold until they're worth a bit more than would love to spend them at places like expedia and travel the world on bitcoin.

jdebunt

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http://digitalmoneytimes.com/crypto-news/expedias-drop-bitcoin-transactions-blamed-lack-consumer-adoption/

In the case of Expedia, Bitcoin purchases have dropped by as much as 40% in recent months. However, that drop will not affect the option to pay for goods and services with Bitcoin, as Expedia plans to keep offering Bitcoin as an option for as long as there is a demand for it. Besides, not everyone is in the luxurious position to travel the world as a living either.

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