are things cheaper if I pay through my bitcoin wallet than using my debit?

itsAj

hero member

Activity: 588

Merit: 500

Quote from: wachtwoord on August 25, 2014, 07:00:13 AM

Quote from: wasserman99 on August 24, 2014, 10:51:10 PM

Quote from: wachtwoord on August 23, 2014, 06:47:49 AM

Currently only in some cases but this will start to increase more and more as vendors start to get it. If they share their savings with the customer the number of customers will increase and so will the vendors savings.

In my experience vendors will not share their savings with consumers. There are many places that will actually charge higher prices for paying in bitcoin (this is likely because the merchant is paying too much to have their BTC payments processed). I would expect for overstock to be the first major merchant/store to offer some kind of discount in exchange for paying in bitcoin.

Read the topics around here and on Reddit. Companies that get it are starting to appear. Patience is the key.

It isn't just buying things from companies that are getting cheaper when buying with bitcoin. It is buying things from individuals.

I think one thing that has been forgotten by people on this thread is gift cards. You can buy a gift card from gyft for a 3% discount. You can buy gift cards on this forum for, generally around 60-70% of their face value.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Newegg.ca giving 30% discount on bitcoin orders over $500.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: wachtwoord on August 25, 2014, 07:00:13 AM

Quote from: wasserman99 on August 24, 2014, 10:51:10 PM

Quote from: wachtwoord on August 23, 2014, 06:47:49 AM

Currently only in some cases but this will start to increase more and more as vendors start to get it. If they share their savings with the customer the number of customers will increase and so will the vendors savings.

In my experience vendors will not share their savings with consumers. There are many places that will actually charge higher prices for paying in bitcoin (this is likely because the merchant is paying too much to have their BTC payments processed). I would expect for overstock to be the first major merchant/store to offer some kind of discount in exchange for paying in bitcoin.

Read the topics around here and on Reddit. Companies that get it are starting to appear. Patience is the key.

I agree they are starting to appear, but they are few and farbetween. I would expect for overstock to be the first major company to do this. Their CEO seems to be a very big fan of bitcoin.

Coinfan

full member

Activity: 653

Merit: 217

The answer also depends on the country the buyer lives. If he lives in the USA, probably he will find a seller that accepts bitcoin for a cheaper price. But not on any other country, because shipping, say, to Europe, will make the price too high.

Cigarettes can be bought here on the forum and else where, but the seller probably will be american, so forget about buying if you live in Europe, Asia, etc.

qwerty555

sr. member

Activity: 405

Merit: 250

Quote from: AdamSmith on August 25, 2014, 07:20:40 AM

Quote from: Naer on August 16, 2014, 06:03:20 PM

cigs for example

trying to find reasons to take it out of my current bank to put it into BTC

Not that many merchants accept btc payment yet. So, I do not think you can buy cigs using btc.

But based on my experience on buying ASIC miner, it is usually cheaper to pay using wire transfer than btc.

Apart from the bitpay 50,000 ish merchants etc..millions of merchants now accept bitcoin since 3 weeks ago...but may not know it yet

Xapo card can be used internationally at ANY merchant who accepts traditional debit/credit cards.

Although currently there is a 3% cost as time passes this will reduce ( to zero most probably) It is important to note that buying your cigs at home has a 3% extra cost but buying them when abroad is up to 5% cheaper ( exchange rate spread up to 5% in worst cases plus 2.5% +1% fees when buying in a foreign country)

https://bitcointalksearch.org/topic/m.8323871

AdamSmith

full member

Activity: 142

Merit: 100

Quote from: Naer on August 16, 2014, 06:03:20 PM

cigs for example

trying to find reasons to take it out of my current bank to put it into BTC

Not that many merchants accept btc payment yet. So, I do not think you can buy cigs using btc.

But based on my experience on buying ASIC miner, it is usually cheaper to pay using wire transfer than btc.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: wasserman99 on August 24, 2014, 10:51:10 PM

Quote from: wachtwoord on August 23, 2014, 06:47:49 AM

Currently only in some cases but this will start to increase more and more as vendors start to get it. If they share their savings with the customer the number of customers will increase and so will the vendors savings.

In my experience vendors will not share their savings with consumers. There are many places that will actually charge higher prices for paying in bitcoin (this is likely because the merchant is paying too much to have their BTC payments processed). I would expect for overstock to be the first major merchant/store to offer some kind of discount in exchange for paying in bitcoin.

Read the topics around here and on Reddit. Companies that get it are starting to appear. Patience is the key.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: wachtwoord on August 23, 2014, 06:47:49 AM

Currently only in some cases but this will start to increase more and more as vendors start to get it. If they share their savings with the customer the number of customers will increase and so will the vendors savings.

In my experience vendors will not share their savings with consumers. There are many places that will actually charge higher prices for paying in bitcoin (this is likely because the merchant is paying too much to have their BTC payments processed). I would expect for overstock to be the first major merchant/store to offer some kind of discount in exchange for paying in bitcoin.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Currently only in some cases but this will start to increase more and more as vendors start to get it. If they share their savings with the customer the number of customers will increase and so will the vendors savings.

giveBTCpls

sr. member

Activity: 322

Merit: 250

You could find very good deals in BTC because some merchants do big ass offers to promote their new BTC acceptance. For example I saw a PS4 for 319 the other day in some place I cant remember now, only if you paid with BTC.

itsAj

hero member

Activity: 588

Merit: 500

Quote from: Razick on August 19, 2014, 07:59:05 PM

Quote from: xkeyscore89 on August 17, 2014, 01:10:22 AM

Today, no. It will likely actually cost a little bit more because of exchange fees. Some time in the future: yes because stores will realize the cost savings associated with accepting bitcoin and will giving customers an incentive to use bitcoin via discounts and promotions

The problem with this idea is that payment networks such as Visa and Mastercard typically require merchants to agree that they will treat all payment methods the same. That's why, despite fees on credit card transactions, merchants don't offer discounts for using cash.

As a result of a recent settlement with VISA and MC, they are no longer able to include these clauses or enforce existing ones. Merchants are able to post separate prices for paying with a credit card verses paying in cash (or bitcoin, or any other payment method).

qwerty555

sr. member

Activity: 405

Merit: 250

Currently the big cost advantage in using bitcoin is in a) remitting fiat abroad and b) spending money abroad.

For retail purchases we are not yet at a significant cost advantage and in many cases it costs a little more but most in the industry are working toward the day that it will be cheaper to buy our groceries using bitcoin.

http://www.moneysavingexpert.com/travel/overseas-card-charges

excluding exchange rate spread in most cases

vs

https://bitcointalksearch.org/topic/m.8336962

http://www.theguardian.com/hifx-money-transfers/sending-money-abroad-time-to-ditch-your-bank

If you are buying $50,000 of goods from another country saving 2-4 % is a big deal

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: xkeyscore89 on August 17, 2014, 01:10:22 AM

Today, no. It will likely actually cost a little bit more because of exchange fees. Some time in the future: yes because stores will realize the cost savings associated with accepting bitcoin and will giving customers an incentive to use bitcoin via discounts and promotions

The problem with this idea is that payment networks such as Visa and Mastercard typically require merchants to agree that they will treat all payment methods the same. That's why, despite fees on credit card transactions, merchants don't offer discounts for using cash.

master-P

hero member

Activity: 868

Merit: 1001

https://keybase.io/masterp FREE Escrow Service

Quote from: odolvlobo on August 19, 2014, 02:42:15 PM

Does your debit card company charge you fees? Many do.

I wouldn't say that your bank will charge you for a debit card, but the associated bank account will likely charge you a number of fees if you do not have enough money to carry a large balance in the account.

odolvlobo

legendary

Activity: 4354

Merit: 3260

Does your debit card company charge you fees? Many do.

wasserman99

sr. member

Activity: 476

Merit: 250

Not yet, but they will be as merchants realize the cost savings associated with accepting bitcoin, especially with industries that have high risk of fraud and chargebacks.

There is already mechanisms in place to allow for merchants to give customers a discount in exchange for paying in bitcoin. Coinbase for example allows merchants to offer as much as a 25% discount.

TheButterZone

legendary

Activity: 3010

Merit: 1031

RIP Mommy

No, because bitcoin depreciates far more every day than fiat now.

5 Guys Burgers

newbie

Activity: 37

Merit: 0

Quote from: Naer on August 16, 2014, 06:03:20 PM

cigs for example

trying to find reasons to take it out of my current bank to put it into BTC

i think using gyft is the best thing to use, try now!

trader001

full member

Activity: 166

Merit: 100

My impression is it is more expensive to use btc than using fiat. And I have to constantly worry about getting scammed or non-delivery.

Still do not see the advantage of using btc compare to traditional bank system.

botany

legendary

Activity: 1582

Merit: 1064

Quote from: Naer on August 16, 2014, 06:03:20 PM

cigs for example

trying to find reasons to take it out of my current bank to put it into BTC

Can you convert your fiat into BTC without paying exchange/transaction fees?

Topic: are things cheaper if I pay through my bitcoin wallet than using my debit? (Read 2091 times)