Topic: Bitcoin is switching from investment commodity to everyday use[INFOGRAPHIC] (Read 1330 times)

Good question.I checked Bitpay's terms of use and found this...

So we don't know how many merchants use the "Free payment processing plan" or the "Business or Enterprise plans " and how much is the fee for the last two.
If we would just calculate with an average of 1% the total sum for fees would be $2,663,750. This is a very speculative calculation as I said I don't have any exact numbers. If anyone has please let us know.

The data is coming from:

http://letstalkpayments.com/visa-mastercard-face-increasing-threat-local-networks-crypto-currencies/

I am happy to see all the response about the infographic guys!

Please stop with this or leave the forums. There is no need for being such an individual.

Exactly. We need more people like you. I've always been tell people that some are coming to Bitcoin for the wrong reasons. I've been avoiding banks, and using only when really necessary. I guess Bitcoin is just not there yet. Hopefully very soon, one might not need to use banks at all.

The year 2016 should provide interesting information that should be compared to this. It might be the tipping stone.

where exactly?

Pretty cool infographic. Interesting to see the stats, especially the average volume of the different payment processors.

i never take 'professional' opinions from people that think bitcoin is a commodity..

they lack even highschool economics knowledge of what a commodity is. so any research they do is limited.

but as for my personal experience.. i earn bitcoin and i spend bitcoin.. i cant remember the exact date i last touched a bank note but i think it was around 2012-2013

The problem with this type of propaganda is that it's not real. It's nice and fluffy and it smells nice, but its basically BS. Can we all please just get real?

People aren't switching to anything. I live around a bunch of people, and believe me none of them are switching. I have three children in school, 2 teens in high school, and another in middle school, and they aren't switching, and their schoolmates aren't switching. It's time to wake up people. Quit cheerleading yourselves into some weird fantasy.

If I had a megaphone and was standing in front of a crowd of 20,000 screaming bitcoin fans, I know exactly what I would say. Wake the "F" up! Quit your jobs unless your employer will agree to pay you in Bitcoin. Grow some balls and walk the talk. That's what we need here. Open up your minds and let some truth set in. People don't take extra steps for no reason. I wont drive another block to buy the same biscuit and neither will regular people.

If you get paid in fiat, you spend fiat. You don't sell your fiat for BTC, then spend the BTC for the same items you could have already purchased with the fiat. Nobody is going do to that, not ever. But if every single person in this community were to demand their wages be paid in BTC or else they would quit, then the Bitcoin would rise up and make a difference in the World.

.. anyway, never mind. Best of luck, and may the force be with you!

Wow! Love this infographic! Thanks for sharing.

Regards,
Me

Top 10 Most Often Bought Items, I don't see any gift card here
Well, my country in the top 3 emerging countries

If this infographic was accurate, pharmaceuticals would be in the Top 10 List. And if bitcoin ever switches away from being an investment commodity, the party's over.

The real focus needs to be on wage integration, that's the holy grail. Otherwise, Bitcoin is destined to remain a fringe token payment system. Consumers will never voluntarily add an extra step (buying BTC) to their payment flow, unless they need to in order to buy something they couldn't ordinarily buy.

When the first time I know Bitcoin (By watching the "What is Bitcoin?" video), it tells me that "Bitcoin is a digital currency, you can buy books, video games, gift, bla, bla, bla.
So it's all make sense if Bitcoin being everyday use for people

This is premature talk. We can use bitcoin to buy more things, but still hardly everyday use. I do not expect supermarkets to accept bitcoin soon, I will settle with most online shopping websites taking it. We are just not there yet.

I am excited about some of the statistics. Growth in Brazil is a staggering 400%! Bitcoin transaction volume surpassed Western Union and is 75% that of Paypal. That is good news.

Great content!

I will do agree with this informational report now that Bitcoin will be everyday usable from now onward and its value will not increase much anymore. I meant to say 300$ will be very attractive and best high prices in present era.2013-2014 was golden time for investment who took risk then made some huge profit.Bitcoin is well distributed now and begins to be accepted by various international firms which will try to stable the price of Bitcoin.

Really nice the graphic design. This is old but gold for introducing and proving bitcoin is the future of money to layman. Although the transactions volume is not really big, but bitcoin beat WU.
I think this year and the next years bitcoin will be more "everyday use", since Greece news.

that is fantastic infographic about the great future of Bitcoin now it is on solid way of progress and with natural growth which is increasing day by day. after this comparison chart which is showing clear sign of where Bitcoin is going into the near future and will be going to become the next generation currency with it's innovation.

Hi and thanks for the infographic @ChrisPop 
Venture Capital Investments were "important" during 2014-2015, as reflected in the infographic. Perhaps we'll see it first results in the near future.

Just one question, what's the source for the stats of the "Average daily transaction volume of selected payment networks (in Million U.S Dollars)" section?

Proofreading still needed. "Transation catergories"?

Bitcoin still has a long long way to go. I think it's going to remain a niche thing until the price either steadies or keeps going up as more and more people join in (and being deflationary if enough people did keep getting on board and the number of bitcoins decreases over time the price should theoretically keep going).


But at the same time there's not enough people spending bitcoins or merchants to spend them at so progress is slow from both sides.

we are getting closer and closer to the dream of the day that bitcoin becomes one of the currencies that everybody from anywhere in the world can use fast and secure to pay for services in any place that you can imagine.