Breakthrough idea? TravelEx - Utilizing An Existing Network With BitBills.com

SATOSHl

newbie

Activity: 19

Merit: 0

Quote from: ripper234 on May 12, 2011, 11:50:19 PM

IMO bitbills is a bit premature, because of the huge flactuation in value. By the time you print 1 BTC bills and ship them, they might be worth 10-20 times their worth, and suddenly consumer are out to buy 0.1 BTC bills instead.

.... why not just have it all electronic ?

I guess I'm trying to find out how my grandma and millions like her who are computer illiterate can easily buy bitcoins. Bitbills are the easiest way.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Currency exchangers exchanging bitcoins is a natural thing. I don't know if large existing companies are going to be quick on the uptake though. I don't see how bitbills helps things here particularly. I think bitbills fits a niche, but I don't see why travelers are more likely to prefer physical cards to actual coins right now and it shipping and keeping inventory at every location would be the hardest part of the whole thing. It's way better to keep $10M in bitcoins in one location than $10k in each of 1000 locations where some locations will sel out in one transaction and others will just sit there and you'll constantly reshuffle physical cards instead of taking advantage of the ease of bitcoin.

ripper234

legendary

Activity: 1358

Merit: 1003

Ron Gross

IMO bitbills is a bit premature, because of the huge flactuation in value. By the time you print 1 BTC bills and ship them, they might be worth 10-20 times their worth, and suddenly consumer are out to buy 0.1 BTC bills instead.

.... why not just have it all electronic ?

Ryland R. Taylor-Almanza

legendary

Activity: 882

Merit: 1001

Quote from: jimbobway on May 12, 2011, 04:25:03 PM

I don't see any holes with this idea and it is TravelEx's for the taking. So who wants to contact TravelEx/Bitbills.com on this idea?

I think it's a cool idea. I'd contact them, but my 16 year old vocabulary often isn't the most professional.

jimbobway

legendary

Activity: 1304

Merit: 1015

TravelEx is a currency exchange with a physical location that has branches throughout the world. In fact they have over 200 stores in the U.S. and more around the world. TravelEx is a store that essentially exhanges currency.

I believe Bitcoin is a good opportunity for TravelEx. I have been thinking about this a lot and here is how it would work.

Forum members contact TravelEx headquarters. We tell them that there is a high demand to convert cash to Bitcoins and there is an opportunity for them to get rich. (Who doesn't want to get rich?)

Then we have bitbills.com create thousands of bitbills to be shipped to all the TravelExs around the world. People come into the store, buy bitbills with their cash using the current exchange rate. TravelEx takes some profit, bitbills.com takes some profit, the bitcoin economy booms, and the new bitcoin owner is happy with his/her purchase. Everyone wins.

TravelEx could also send the bitcoins electronically but I think bitbills will be easier for them to understand and it will be easier to handle since it is physical and TravelEx is a physical location.

I don't see any holes with this idea and it is TravelEx's for the taking. So who wants to contact TravelEx/Bitbills.com on this idea?

Topic: Breakthrough idea? TravelEx - Utilizing An Existing Network With BitBills.com (Read 1634 times)