"In 5 or 10 years I think every online retailer will accept Bitcoin." -Gavin - page 3.

Ruthful

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Last time i check transaction is instant. You think CC confirmation is instant?

Firstly , credit card transaction felt instant because merchants trust the CC company to honour their part of the deal.Considering the amount of petty larceny and scamming attempt they already facing ,do you expect a chain retailer would trust some anonymous stranger that easily?

Secondly, I don't use CC or even debit card for very small transaction.Paying around 10%( even go to 50% for some of my smallest purchases) transaction fee to use bitcoin isn't really a selling point.

hasmukhh

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it is gonna be such a wonderful life when every online retailer will accept btc. bitcoins and bitcoins everywhere. people will be mesmerized to use bitcoins. its about 5 years left for 2020 when i think the world will be bitcoin proven . where each person will be using bitcoins for every transaction.

dothebeats

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Quote from: Lauda on May 21, 2015, 02:58:24 AM

Quote from: NorrisK on May 21, 2015, 01:14:44 AM

Quote from: Amph on May 20, 2015, 02:23:32 PM

so we can assume that we need at least two halving, and that the coming one is not enough, it make sense seeing how the price is still crippled

Not neccesarily related to the halving and the price of bitcoin. Retailers accepting probably means through current methods, ie. changing directly to fiat at purchase. Price won't matter than.

I personally don't like that. We don't need retailers that instantly convert to fiat. They're only doing it so that they attract more people (i.e. Bitcoin users).
However we know there are companies that keep a certain % or some that don't convert at all. There was a list around somewhere on the forums.
We need that kind of merchants.

Those merchants would only appear if bitcoins are widely accepted throughout the globe. In the current times, merchants would be glad to convert their coins to fiat for some profit. That's why they're doing business in the first place. Also, what would they do with the bitcoins if it isn't generally accepted by the public if they start implementing it? Speculate just as what the day traders do? I don't think so. These businesses need some steady inflow of profits so that they could use it to expand. Bitcoins wouldn't help in that cause mainly because of the price volatility and it isn't that mainstream yet. In order to compensate with the implementation of bitcoins as a form of payment in their businesses, bitcoins must be a widely-accepted money around the globe so that these businesses could use bitcoins to expand without risking some percentage of their gains because of price volatility.

Kakmakr

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Let me be the one to burst the bubble. Do not get me wrong, I am a huge BTC fan and I will support it to the end BUT I am a realistic too. We assume BTC will be the de fact coin and everyone will be converted. WU and the banks are not sitting on their hands, they are investing millions into the development of their own technologies.
My prediction would be a maximum of 3 years dominance for Bitcoin and then a complete replacement by a NEW technology.

Lauda

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Terminated.

Quote from: NorrisK on May 21, 2015, 01:14:44 AM

Quote from: Amph on May 20, 2015, 02:23:32 PM

so we can assume that we need at least two halving, and that the coming one is not enough, it make sense seeing how the price is still crippled

Not neccesarily related to the halving and the price of bitcoin. Retailers accepting probably means through current methods, ie. changing directly to fiat at purchase. Price won't matter than.

I personally don't like that. We don't need retailers that instantly convert to fiat. They're only doing it so that they attract more people (i.e. Bitcoin users).
However we know there are companies that keep a certain % or some that don't convert at all. There was a list around somewhere on the forums.
We need that kind of merchants.

hasmukhh

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yeah . totally true. bitcoin has grown alot from before. it is been used in many sites and places.
it is use mostly by the people for buying goods online and also used for paying bills and online transactions.
in future bitcoin will be used at most of the places.

S4VV4S

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Quote from: PenguinFire on May 21, 2015, 02:21:45 AM

I would venture to guess it will be sooner than that. I am sure every online retailer won't in five years but the ones that don't won't be around another five years. Cheesy

You never know.
It is cheaper, faster and easier to set-up accepting Bitcoin payments other than anything else.

jacktheking

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Disagree. Five years seem too short. Ten years seem too short too. I dont think Bitcoin will be accepted by every online retailers. Everything that is popular will have haters. Take the famous Korean Pop song example. Many people like it and it hit Youtube max count. I'm one of those who dont like the song.

If he say more than 75% of online retailers then.. I might agree with it. It might take around 10 years before 75% of online retailers will accept Bitcoin.

BIT-Sharon

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How is the time limit evaluate? However, more and more retailers accept Bitcoin now and we could charge for items with Bitcoin often, then the business with bitcoin can run well.

PenguinFire

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That Darn Cat

I would venture to guess it will be sooner than that. I am sure every online retailer won't in five years but the ones that don't won't be around another five years. Cheesy

louise123

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Quote from: colinistheman on May 20, 2015, 02:19:09 PM

"In 5 or 10 years I think every online retailer will accept Bitcoin." - Gavin Andresen

https://youtu.be/iQ2TOFIgvis

Awesome 15 second quote from Gavin during this New York Public Library discussion on May 19, 2015.

I think it's going to bee sooner than that.
More like two to three years from now.

It doesn't make sense to give 3%+ of your sale to any payment processor instead of just paying a few cent.

NorrisK

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Quote from: Amph on May 20, 2015, 02:23:32 PM

so we can assume that we need at least two halving, and that the coming one is not enough, it make sense seeing how the price is still crippled

Not neccesarily related to the halving and the price of bitcoin. Retailers accepting probably means through current methods, ie. changing directly to fiat at purchase. Price won't matter than.

Amph

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Quote from: jaberwock on May 20, 2015, 02:29:16 PM

like Satoshi said(not exactly):

in 5 or 10 years either the vast mojority of retailers will accept Bitcoin or none will accept it

the correct sentence was referring to transactions volume, "I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume."

for future reference http://crypt.la/2014/01/06/satoshi-nakamoto-quotes/

thebenjamincode

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37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

i also believe that because as time passes by, day by day there are more and more people who are being aware of bitcoin

colinistheman

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Quote from: kwukduck on May 20, 2015, 08:16:10 PM

"Assuming no major crisis in bitcoin"...

The delusion in this guy is strong.

He's just super conservative

kwukduck

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"Assuming no major crisis in bitcoin"...

The delusion in this guy is strong.

Ruthful

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Quote from: Meuh6879 on May 20, 2015, 04:14:56 PM

Quote from: MakingMoneyHoney on May 20, 2015, 03:14:47 PM

Paypal is good for buyers on eBay; Bitcoin may not be.

right.

that why bitcoin is a perfect choice ... for food, supermarket ... and other face-to-face product (like in little market).

The transaction time is actually a hindrance to that.The transaction fee also makes it unattractive for small purchases, especially when conversion favours the local currency(like in my case).

nvaler

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nice!!! no more WU? Moneygram? other Remittances?

hahaha

and banks...bye bye banks

Meuh6879

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Quote from: MakingMoneyHoney on May 20, 2015, 03:14:47 PM

Paypal is good for buyers on eBay; Bitcoin may not be.

right.

that why bitcoin is a perfect choice ... for food, supermarket ... and other face-to-face product (like in little market).

victoryboy

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From this year onwards Bitcoin will be welcomed and become very popular and we will see dramatic increase of bitcoin's use by common people.Everyday we hear something new about bitcoin's adoption and its tech.Things will move very fast just in months not in years.

Topic: "In 5 or 10 years I think every online retailer will accept Bitcoin." -Gavin - page 3. (Read 3114 times)