Buyer can't get their money back if something goes wrong.
If we do a person to person fiat exchange for a product with a stranger, chances are that you won't get your money back either. Point invalid.
Topic: Buyer's Advantage in Bitcoin - page 2. (Read 3383 times)
Point invalid.
And you could use systems built on top of bitcoin to make micropayments, like when you have a webwallet that allows fee-free transactions to other users of the webwallet. But then we can get into an argument over whether that is actually using bitcoins. Whatever.
Off-chain is probably the best solution for micro payments. Either by a centralized web wallet, or just by buying a larger amount of credits from the service provider directly. E.g., you want to access a website where every page view costs BTC 0.00001, you send BTC 0.01 to the provider's address and can access his pages 1000 times with your payment address. That way, BTC could actually become an enabler for simple, quasi-anonymous micro payments. Another benefit: very small or very large purchases can be made with equally low hassle and fees. You can buy that magic sword in your online game for half a cent, or you can buy a Lamborghini without having to get a bank manager to clear the withdrawal and fill out a ream of paperwork.
I beg to disagree with your point of very small purchase. If u try to buy a magic sword in your online game with 2000 Satoshi, you probably need to pay 20,000 Satoshi as transaction fee. And then also it'll take week to confirm. So ultimately u'll defeat in the game because your enemy wont wait for a week to attack you.
Moral of the story: For micro transactions Bitcoin costs more than the transaction value and it is not instant. This is actually a disadvantage.
But for large transaction, I agree with what u have said.
Okay, for extremely small payments the bitcoin network itself is perhaps not the best idea, but there are payments which are very small which would not trigger a fee. And you could use systems built on top of bitcoin to make micropayments, like when you have a webwallet that allows fee-free transactions to other users of the webwallet. But then we can get into an argument over whether that is actually using bitcoins. Whatever.
Exactly, they can do it with their own credit system and allow the end user convert it to Bitcoin/FIAT eventually.
hero member
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Another benefit: very small or very large purchases can be made with equally low hassle and fees. You can buy that magic sword in your online game for half a cent, or you can buy a Lamborghini without having to get a bank manager to clear the withdrawal and fill out a ream of paperwork.
I beg to disagree with your point of very small purchase. If u try to buy a magic sword in your online game with 2000 Satoshi, you probably need to pay 20,000 Satoshi as transaction fee. And then also it'll take week to confirm. So ultimately u'll defeat in the game because your enemy wont wait for a week to attack you.
Moral of the story: For micro transactions Bitcoin costs more than the transaction value and it is not instant. This is actually a disadvantage.
But for large transaction, I agree with what u have said.
Okay, for extremely small payments the bitcoin network itself is perhaps not the best idea, but there are payments which are very small which would not trigger a fee. And you could use systems built on top of bitcoin to make micropayments, like when you have a webwallet that allows fee-free transactions to other users of the webwallet. But then we can get into an argument over whether that is actually using bitcoins. Whatever.
For micro transactions Bitcoin costs more than the transaction value and it is not instant. This is actually a disadvantage.
I wouldn't call that a disadvantage.Let's just say Bitcoin isn't suitable for micro transactions, but the same applies to practically any other payment system like credit cards, Paypal and the like. Micropayment is just one of the areas Bitcoin doesn't cover.
Buyer can't get their money back if something goes wrong.
Buyer should not have any advantages which are not given to the sellers as well. So everything is fair.
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
This is a big one for me. How many millions of people were potentially affected by the Target credit card hack last November/December? With bitcoins, it does not matter how inept or dishonest the seller is, neither they nor anybody who breaks into their data will be able to make fraudulent susequent purchases using my information.
Another benefit: very small or very large purchases can be made with equally low hassle and fees. You can buy that magic sword in your online game for half a cent, or you can buy a Lamborghini without having to get a bank manager to clear the withdrawal and fill out a ream of paperwork.
I beg to disagree with your point of very small purchase. If u try to buy a magic sword in your online game with 2000 Satoshi, you probably need to pay 20,000 Satoshi as transaction fee. And then also it'll take week to confirm. So ultimately u'll defeat in the game because your enemy wont wait for a week to attack you.
Moral of the story: For micro transactions Bitcoin costs more than the transaction value and it is not instant. This is actually a disadvantage.
But for large transaction, I agree with what u have said.
This is my personal experience.
I recently bought something on Tigerdirect and paid in Bitcoin. I hate to see my Bitcoin balance decrease so I went ahead and purchased the same amount of Bitcoin to offset the cost of my purchase after the fact.
The Bitcoins I purchased cost a lot less than they did at the time when I spent them. I ended up paying approximately $105 for an item that cost $115. This doesn't take into consideration that the coins I spent had already appreciated so it's hard to say how much I actually spent if you look at the larger picture. I've been dollar cost averaging since November when Bitcoin was $517.
Bitcoin offers the buyer the advantages of appreciating value. I buy more Bitcoin every chance I get.
I recently bought something on Tigerdirect and paid in Bitcoin. I hate to see my Bitcoin balance decrease so I went ahead and purchased the same amount of Bitcoin to offset the cost of my purchase after the fact.
The Bitcoins I purchased cost a lot less than they did at the time when I spent them. I ended up paying approximately $105 for an item that cost $115. This doesn't take into consideration that the coins I spent had already appreciated so it's hard to say how much I actually spent if you look at the larger picture. I've been dollar cost averaging since November when Bitcoin was $517.
Bitcoin offers the buyer the advantages of appreciating value. I buy more Bitcoin every chance I get.
Buyer can't get their money back if something goes wrong.
Sure they can, the same way as if they had paid cash: ask the merchant for a refund, and sue them if they don't provide one. Assuming, of course, that they're dealing with reputable businesses, or at least ones with a legal identity that can be named in a lawsuit. Why on Earth would they do business with them if that's not the case? hero member
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I know there are lot of advantages for sellers to accept Bitcoin. But what are the advantages of a white color byer. I just wanted to list. I am starting off here. Its good, if u add up your points...
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
What is a "white color byer"?
Obviously OP meant "white color buyer", which is to be contrasted with "black color buyer" who is somebody doing a black market transaction. For the black market bitcoins are great because of their anonymity, but for people who are not doing illegal things that does not matter as much.
Hehe. I get it now. 
This begs the question: How do the advantages of the white collar buyer compare to the advantages of the blue collar buyer? Or is the blue collar buyer disadvantaged?
This begs the question: How do the advantages of the white collar buyer compare to the advantages of the blue collar buyer? Or is the blue collar buyer disadvantaged?
First of all, I dont know if blue collar buyer is the opposite of white collar buyer. But whatever be the opposite, white collar buyers have certain characteristics...
1. They dont care about anonymity.
2. They wont like to risk a single penny. They will pay tax, but if they smell even little doubt about a merchant, they'll switch for the merchant having a government seal.
So, the advantages of a white collar buyer may not appear to be an advantage for a blue collar buyer and vice-versa.
Hehe. I get it now.
This begs the question: How do the advantages of the white collar buyer compare to the advantages of the blue collar buyer? Or is the blue collar buyer disadvantaged?
This begs the question: How do the advantages of the white collar buyer compare to the advantages of the blue collar buyer? Or is the blue collar buyer disadvantaged?
I know there are lot of advantages for sellers to accept Bitcoin. But what are the advantages of a white color byer. I just wanted to list. I am starting off here. Its good, if u add up your points...
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
What is a "white color byer"?
Funny ....I guess the OP tried to say "white collar buyer".
I know there are lot of advantages for sellers to accept Bitcoin. But what are the advantages of a white color byer. I just wanted to list. I am starting off here. Its good, if u add up your points...
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
What is a "white color byer"?
Here's one that will be added hopefully soon: the chance to have accounts that require say two out of three authorizations for a transaction to take place. For example any of two persons and a child, or any three company directors.
What are you trying to say ?
Here's one that will be added hopefully soon: the chance to have accounts that require say two out of three authorizations for a transaction to take place. For example any of two persons and a child, or any three company directors.
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
The last one is actually a very strong incentive for buyers to use Bitcoin.2. Buyer's anonymity. (I dont think it is a strong point to convince an average buyer. A tax payer does not care about revealing his identity.)
3. Recurring payment protection. Merchant cant enforce a recurring payment using a small checkbox tick.
Another one would be international usability without much of the hassle that other means of international payments come with.
If you've ever had to actually use e.g. Western Union, you know that it's not only expensive, but more important, hard work.
Yes international usability is one big advantage for buyers. But it should not be put on as online payment alternative, as credits cards do support that as well. Rather a good example to convince normal people can be as follows...
Suppose a Chinese national will visit to Germany. In normal process he had to buy USD against CNY at some Chinese exchange. Check into germany and again exchange that USD against EUR to move easily in Germany. If he prefer to use Bitcoin, he can have the balance in his android mobile. Move into Germany and spend that BTC directly. No loss for forex commission. No hassle.
- no restrictions on who can use it. I see this as very big; kids and others who can't get a bank card will hopefully be able to go into a shop and buy some "bitcoin credit" with cash, to make online payments. (This may not be an advantage to existing buyers, but it may create/allow *new* buyers)
- universal protocol; money stored in device. This will hopefully enable mind bogglingly quick internet payments; like Amazon's "1-click" buy but with any product on any website. (perhaps like KryptoKit)
- universal protocol; money stored in device. This will hopefully enable mind bogglingly quick internet payments; like Amazon's "1-click" buy but with any product on any website. (perhaps like KryptoKit)
Buyer can't get their money back if something goes wrong.
That is an advantage right ?
To the seller.
Ok.... but as I understand OP asked for Buyer's advantage. It is rather a Buyer's disadvantage.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
1. Buyer's card data is not coming to the seller. So no chance of theft from merchant's end.
This is a big one for me. How many millions of people were potentially affected by the Target credit card hack last November/December? With bitcoins, it does not matter how inept or dishonest the seller is, neither they nor anybody who breaks into their data will be able to make fraudulent susequent purchases using my information.
Another benefit: very small or very large purchases can be made with equally low hassle and fees. You can buy that magic sword in your online game for half a cent, or you can buy a Lamborghini without having to get a bank manager to clear the withdrawal and fill out a ream of paperwork.
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