Topic: I took a taxi today piad with VISA! (Read 3579 times)

I think it could work dunno.

If that becomes the norm, yes.

Upon review of flinc.org, my take away is that any one of those people can easily pay using Bitcoin on their own accord.

You guys are overthinking it.  When a bitcoin driven version of this...

https://www.flinc.org/

...becomes a viable model in major urban areas, then bitcoin would drive a rise in ad-hoc, and unmarked taxi services.

You just enter a sell order for 10000000 @ $1.00 each (or whatever your rock-bottom-will-not-sell-lower-than-this price is), then it'll automatically sell any coins when they are sent to your account and have 6 confirmations.  It won't sell them for $1 though - it'll sell them at whatever the current highest buy offers are.

Bitcoins can be set up to be sold automatically and immediately in MtGox.

Not to hijack this thread.. but i looked all over MTGOX and can't find where to set this up..  Where do you go to turn this on?  Or do you have to use the API?

thanks,
Sigg

Thus more money in Rashid's pocket to provide for his family.

their is nothing simply about accepting VISA payments,

the pain in the ass is was collecting dollars and cents.
the solution was costly
bitcoin provides a better solution without the cost!

Now, that we've established that Rashid Temuri leases his cab from Flash at a fixed rate, we can move forward to increasing his overall profit, which is not fixed. Rashid has already demonstrated that he's versed enough with technology by mashing up social marketing--Twitter--with his iPhone. Bitcoin is just a simple extension of all that, one he's more than capable of implementing as an alternative income stream. There's no need for Flash Cab to have any special accounting stuff in place. Rashid is in control of all his income. Credit card acceptance is the only exception.

Let's see how this would play out with a not-so-make-believe scenario, shall we?

Ivanovitch Ohienku just flew into O'hare from Ukrainian to attend the first ever Coffee Table Expo at McCormick Place. He has on his person a limited amount of USD, but does have a reserve of bitcoins in case needed. In fact, Ivan is planning on spending some of those coins while visiting the The Winding City. He has already made contact with Rashid to pick him up at the airport. At the last minute, Rashid had to cancel that fare, but not before having another cabbie take his place to accommodate Ivan. The new driver's name is Gordon. Gordon is able to accept Bitcoin for payment as well because Rashid had previously introduced him to Bitcoin. In fact, Rashid teaches other cabbies, in his spare time, how to incorporate Bitcoin into their business model.

Now, back to Ivan. Ivan leaves the Coffee Table Expo early because he was shocked at what he saw. He calls Rashid to pick him and take him back to his hotel located near the airport. This time Rashid is able to provide the taxi service himself. Ivan is hungry and asks Rashid to take him to a nice restaurant, one that accepts Bitcoin. Rashid rattles a few off the top of his head and then provides Ivan a physical list. Ivan offers to buy Rashid dinner for being such a gracious driver. Ivan accepts, for he's hungry, too.

(I could go longer, but you get the jest)

Rashid Temuri leases from Flash.

http://www.flashcab.com/about.shtml



Also, this: http://en.wikipedia.org/wiki/Taxicabs_of_the_United_States#Chicago

Isn't that what Bit-Pay does?

How many cab drivers actually own their cabs in the US?  Here, the majority of drivers don't and they pay a shift fee plus a percentage of the takings to the owner.  Taxis driving is also an industry under constant scrutiny by the Taxation Office here.

Most businesses don't like anything which adds extra steps to them receiving payment.  Until Bitcoin can integrate seemlessly with other payment platforms, it's going to add an extra layer of pain in the ass to accepting payments.  If you develop an app which can get the Bitcoin payments to the merchant's bank account without any extra actions on their part and which provides them with daily printouts of amounts received and from whom, you're beginning to approach the same level of convenience credit card payments offer merchants.

Business people look for things which simplify payment processing and accounting.  No-one's written the Bitcoin app to do that yet.

http://www.uproxx.com/technology/2012/01/every-city-should-have-twitter-cabbies-like-rashid-temuri/


Fake Headline (and story): Rashid Temuri Does it Again

The other day we reported: Every City Should Have Twitter Cabbies Like Rashid Temuri

Not to rest on his laurels, Rashid Temuri became the first cabbie in Chicago, possibly the world, to accept Bitcoin as a form of payment from his customers. By doing such, the hackneyed slogan "reach out and touch someone" takes on a whole new meaning.

What started as a post on the BitcoinTalk forum, came to fruition yesterday when Rashid accepted the first bitcoins via his iPhone. Within 24 hours, he had five patrons pay their fare with Bitcoin, one a regular customer who Rashid easily converted over to paying with this relatively new form of currency. Of the other four, three where in town for business and purposely sought out Rashid's service with the sole intent on being the first to pay a cab fare using Bitcoin. The forth Bitcoiner--a user of Bitcoin--was a local Chicagoan transporting a coffee table across town. All payments were made to his Bitcoin vanity address 1Rashid1cB8o9rtxilL3E3(this is a fake address).

What is Bitcoin? Bitcoin is a new digital currency that enables instant payments to anyone, anywhere in the world. It's been described as the most exciting technology since Al Gore invented the Internet. More information about Bitcoin can be obtained here.

When asked what's he going to do with all those bitcoins, he said with a smile, "Spend them! What else?"

Although "don't leave home without it" has been fully ingrained into our psyche, don't be surprised to read "Bitcoin: An Idea Worth Spending" on city billboards soon.

I hope you are joking. BTC will go to $100 by Christmas easily this time around !!! It has millions billions of uses except Silk Road.

Everyone and their dog will be using it soon. Buy, buy, buy ASAP before the price rises again to $32. LOL.

It really is hopeful to see that some realise and see BTC as it is now : a speculation vehicle and not a feasible "Average Joe" currency in any shape or form any time soon.

Bitcoin : coming to a taxi driver near you. Next thing you know sex workers will also take BTC !

Guess it all adds up nicely just when I think somebody like BCX owns 250 000 of these coins and Satoshi ( which can be anybody, even a Columbian drug cartel owner ) has roughly 1.5 million.

Bitcoins can be set up to be sold automatically and immediately in MtGox.  You still have to wait for the 6 confirmations, but it certainly wouldn't be "driving around all day with his bitcoins potentially fluctuating wildly in value".  On average, it'd only be an hour.  Yes, the price can change a lot in even just an hour, but on average, the fluctuations would even themselves out anyway.  And taxi drivers have a huge margin to start with - a large percentage of costs are in overhead with waiting for clients, etc.  At least in my area, that is the case.

Also, the fees paid to MtGox to convert the funds to USD would equate to .65%.  The fees paid to your average VISA/Mastercard/Amex processor are between 2 and 7%, depending on volume and size of each transaction.  This means the taxi driver can take a significant hit with regards to volatility, and still make a higher profit compared to traditional payment processors.

I do agree with your last statement regarding the reason why taxi drivers don't accept Bitcoin.  Maybe that will come with time and increased exposure of the general populace to Bitcoins.  Maybe not.

Was that supposed to say "This post is full of so much failed mentality"?

This thread is full of so much failed mentality.

Almost every arguement you can make to a taxi driver about bitcoin, you can also make for literally every other digital payment method. Not only is it impractical to use bitcoins in a taxi (not microtransactions, not long distance), without using a payment processor to relieve him of the horrible risk of driving around all day with his bitcoins potentially fluctuating wildly in value by god only knows how much, he would be setting himself up to potentially lose money, and by using a payment processor of course he'd be paying a fee.

Where is the good arguement here? Stop worrying so much about who is accepting bitcoin and start worrying about who has them.

Everyone thinks it's a chicken/egg problem,  but it's clearly not. The reason why taxi drivers don't accept bitcoin is because no one uses bitcoin.

In due time, I see all this in practice, bracek.

Does anybody here know of any other businesses in Chicago that accept Bitcoin, e.g., restaurant, hotel?

taxi could have its website,
customer sends bitcoin as assurance that he is not prank calling
leaves a message with  his address for pickup,
the rest of the fare price can be settled in cash or in bitcoin

taxis can have some prim-dijkstra alg to find the shortest routes
to pickup customers around the city...

also, taxi could send out sms with estimated time of pickup...

Here's the deal, folks. I'm going to Chicago to deliver a load of wood to a famous French Restaurant that's being remodeled, incorporating a rustic motif. I can take time out to meet with guy after that delivery and introduce him to Bitcoin. I'm sure he'll be ecstatic to be the fist cabbie to embrace Bitcoin. I envision him on this BBS (whitewashed quickly, of course) with his own thread sharing Bitcoin related fares with us.

Thoughts?

~Bruno~

PS: Chances are, I'm making two trips--Wednesday and Thursday--therefore increasing the chances of contacting Rashid Temuri.