With Bitcoin, if the supermarket provides their own free Wi-Fi, to which their own bitcoind is connected to,
They don't even need bitcoind or Wi-Fi (well, maybe optional Wi-Fi so customers can send payments even if they don't have mobile internet). The supermarket just needs to display their own addresses, and customers can send money. No need at all for the supermarket to host the complete wallet right there at te spot.
Topic: This is why Bitcoin will win ... the speed of credit cards with the cost of cash - page 2. (Read 1933 times)
January 20, 2014, 06:48:05 AM
January 20, 2014, 04:49:34 AM
Also consider this: for many grocery stores the profit margin is only about 3% of the sale. Very low indeed. Stores accepting Bitcoin will not have to pay the 2 to 3% credit card fees - effectively DOUBLING the profit margin.
Alternatively, the store could reduce prices.
A win-win for everyone. Well, everyone but the credit card companies.
Alternatively, the store could reduce prices.
A win-win for everyone. Well, everyone but the credit card companies.
January 19, 2014, 10:39:46 PM
BTC though: Unstable rates...
For now
Market will stable in the upcoming years and so will the price. legendary
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Reverse engineer from time to time
January 19, 2014, 08:21:54 PM
Just one example. http://shinybars.com/t/paymentoptions
Simplified you have three options:
CC = fast + 3% more expensive
"Bank stuff" = slow + 3% cheaper
Bitcoin = fast + 3% cheaper
Actually on a local supermarket that I frequent to it takes about 30-60 seconds to complete a payment with a CC, really slow and by the time it finishes, a huge line has formed. With Bitcoin, if the supermarket provides their own free Wi-Fi, to which their own bitcoind is connected to, it will make the transaction way faster than a CC and best part, you don't need to wait for change, you pay the exact amount and just leave. Simplified you have three options:
CC = fast + 3% more expensive
"Bank stuff" = slow + 3% cheaper
Bitcoin = fast + 3% cheaper
January 19, 2014, 07:17:40 PM
BTC though: Unstable rates...
January 19, 2014, 07:15:47 PM
Just one example. http://shinybars.com/t/paymentoptions
Simplified you have three options:
CC = fast + 3% more expensive
"Bank stuff" = slow + 3% cheaper
Bitcoin = fast + 3% cheaper
Simplified you have three options:
CC = fast + 3% more expensive
"Bank stuff" = slow + 3% cheaper
Bitcoin = fast + 3% cheaper
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