Topic: "In 5 or 10 years I think every online retailer will accept Bitcoin." -Gavin (Read 3114 times)

Businesses can't afford to take that risk. It's a shame many of them are put off by the fluctuations but don't realize they can use companies like bitpay etc just to straight get the cash. I guess most just don't see the point in accepting it at the moment.

The 12+% is simply an acceptable return on any investment imo.

I didn't mean to say that I was predicting what would happen in the next 5-10 years. If you read the post again you'll see that it's a reasonable assumption that BTC will not reach "household word" status if it doesn't both serve a purpose (simple BTC card without the credit card fees) and make people money (investors).

If those businesses with high margins and high profit could be persuaded to use BTC because it's an acceptable risk to HODL a percentage, and compel those they do business with to accept BTC transactions, then, imo, the blockchain will put down sound economical (socio/financial) roots.

The blockchain(s) then can become the shining star that it's attempting to become. Security and bloat are the major issues that need to be addressed to gain the confidence of the masses that do want a ledger of truth and justice going forward for future generations.

Those who wish to remain off the books (decentralization) will have to learn to hide their BTC well. Or trust in physical assets that are easy to hide.


fdyl

Businesses can't afford to take that risk. It's a shame many of them are put off by the fluctuations but don't realize they can use companies like bitpay etc just to straight get the cash. I guess most just don't see the point in accepting it at the moment.

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin? I can understand why they'd be happy to accept it and then sell it off - but keeping it presents a risk that investors wouldn't necessarily be keen to take. You'd have to have society overwhelmingly accept Bitcoin for investors to be happy to have their company hold Bitcoin.

Secondly, where are you getting your figure of 12%?

Imagine a major company actually keeping this currency:

I'm curious about a couple of things here.

First off, why would any major business (I'm going to define it as at least being present on the stock market) decide to actually keep Bitcoin?

I think once retailers (with 300-1000% markup) have a good understanding of BTC, and it's been proven it can handle the load (exponential increase of adoption) they will begin to offer significant discounts to their customers that use BTC so they can both sell off a portion for their day to day expenses plus taking an immediate profit in fiat and HODL a percentage of that markup in BTC for future risk/profit.

Any broker service that they (retailers) can trust to successfully manage their BTC holdings (for a fee) and realize a minimum 12% average interest on those holdings would simply be using sound business practice over the long run.

Amph rarely knows what he's talking about but will feel compelled to offer his drivel at any opportunity, but you're likely more right than he is. If bitcoin was going to go mainstream this fast it would have already happened. 5-10 years is a reasonable guesstimate and even that isn't guaranteed, but of course I would like it to be much less than that but the mainstream sadly isn't as excited about btc as I am.

Through brawker.com this was already possible. Unfortunately they are no longer around but it does create a vacuum that needs to be filled.

I could see this being done using OpenBazaar and maybe a browser plugin.

Less than 5 years is impossible. The shortest amount will be atleast 5 years and Gavin is correct in this . As we can see, there are only small numbers of retailer that accepts bitcoin now. For the whole online retailer to accept bitcoin it will take a lot of years and also we can see that only a small number of people that know bitcoin now

actually he is very pessimist, and very conservative on his words, if you look at bitcoin now, bitcoin can achieve such objective in a far less than 5 years, hell i could say the next year is perfect for achieving all the great aiming which bitcoin needs

I admire Gavin's optimism and if everything goes to plan I think he will be right, but I'm not so convinced myself though I hope I'm just being sceptical. I guess we can only wait and see what te future holds for bitcoin.

Music to my ears Colin.
Thanks for that, when Gavin speaks people listen.
If even 25% of online retailers accept bitcoin in 5-10 years we'll be laughing.
Just going to have a quick look at the link now - thanks for sharing.

Yup. If he decides on passing any savings on transaction costs to bitcoin users, Bitcoin will be the most popular payment option.

The best decision for any retailer would be to have as many possible ways of accepting payment as possible.