Why dump traditional payment options for Bitcoin? - page 2.

MingLee

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Quote from: Snorek on October 18, 2016, 12:20:03 AM

Quote from: TraderETH on October 18, 2016, 12:02:44 AM

In my opinion, bitcoin more simple,easy, cheap, there are not people or government that control it and every body can check the code of bitcoins (i mean people who know about it Grin

) and bitcoin is revolution of currency.

What do you mean cheap? It is cheap to send bitcoin or cheap to keep whole infrastructure around?
Do you know that bitcoin network could consume as much electricity as Denmark by 2020?

Here are the details: http://motherboard.vice.com/read/bitcoin-could-consume-as-much-electricity-as-denmark-by-2020

It is likely he is referring to the fees incurred by the miners for a typical transaction, and how those are cheap compared to a lot of other forms of banking. While the miners are expensive, they are rewarded, so that has to be kept in mind. Something always has to turn the cogs of the machine.

Snorek

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Quote from: TraderETH on October 18, 2016, 12:02:44 AM

In my opinion, bitcoin more simple,easy, cheap, there are not people or government that control it and every body can check the code of bitcoins (i mean people who know about it Grin

) and bitcoin is revolution of currency.

What do you mean cheap? It is cheap to send bitcoin or cheap to keep whole infrastructure around?
Do you know that bitcoin network could consume as much electricity as Denmark by 2020?

Here are the details: http://motherboard.vice.com/read/bitcoin-could-consume-as-much-electricity-as-denmark-by-2020

Yakamoto

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

I would personally note the deflationary currency aspect of Bitcoin and how there is nex to no value lost in your investment due to "natural" causes, and the only losses are perpetuated by the market. Aside from that I think you have a pretty good list overall of things you'd need to make it all sound pretty neat to someone who is curious.

TraderETH

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In my opinion, bitcoin more simple,easy, cheap, there are not people or government that control it and every body can check the code of bitcoins (i mean people who know about it Grin

) and bitcoin is revolution of currency.

Snorek

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

And the you can mention other, centralized and corprate payment methods like PayPal and Amazon Payments and you will see that:

Your reasons in comparison to Amazon Payments:
- Yes, it is centralized service. But most people don't care about this aspect, they want to transfer their money, that's all.
- It is not cheaper. Amazon Payments is not collecting any fee. Bitcoin is - although very small.
- I don't want to start about network capability, but confirmation could take a long time...
- Amazon Payments is free too...
- And here is where bitcoin really shines - all you need for BTC to work is an device with internet connection

Wind_FURY

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I do not think there is a need to dump payment options for markets that are already efficient, although Bitcoin could make a good complementary method of payment to make it more efficient. An example of this is online shopping. It would be nice to see Amazon start to accept Bitcoin even if they do not need to.

Bitcoin should be used in markets where there is an inefficient mode of payment. As I said before the dark market payments would be very inefficient if it did not have Bitcoin payments. There are also ways to create to create new markets for Bitcoins like for example an exchange for backed frequent flyer mile tokens done on Counter Party that is tradable for Bitcoins.

Backside walkaround

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Quote from: MONKEYJUNK on October 17, 2016, 02:29:38 PM

Everything has your own demons...

It's cheaper? Can you imagine the fee's with the 1mb if a lot of people start to use?

It's faster in somethings and slower in others...

"It's free"... It's money, money isn't free.. (internet/cellphone/pc isn't free)

Global - ok

I could never figure this one out myself. Tried to convince my mother and argument failed spectacularly. There's really no advantage to spending bitcoin versus traditional fiat. To me, anyway. The value is in holding it, much like precious metals. People will use it for dark markets and gambling, so that creates demand and a chance for price increases. Hell, look at the price now compared to bitcoin's inception. It's definitely taken off.

boyptc

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Quote from: Hirose UK on October 17, 2016, 08:32:51 PM

Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

one of reason I use bitcoin is because we don't have word "interest" in bitcoin world while banks have.

besides, we don't pay tax when we save bitcoin in our wallets. we just pay fees when we want to send bitcoins.

Well that is why my reason either because I am really interesting with this best crypto currency and upon seeing the road map of bitcoin this is the strongest one. And good thing for us who are earning bitcoin we don't have pay taxes and as well as the fees are very cheap whenever we are going to have transactions with it.

Hirose UK

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

one of reason I use bitcoin is because we don't have word "interest" in bitcoin world while banks have.

besides, we don't pay tax when we save bitcoin in our wallets. we just pay fees when we want to send bitcoins.

outatime1

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If customers demand bitcoin as an option, then it is in the merchant's best interest to accommodate it. And customers (or individuals) like us may like holding our money in bitcoin rather than a government currency or in a bank.

shinratensei_

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

Interesting things, I guess the centralized are full with a lot of cracks. that's so easy for used by the criminal and the placeman for using that for the wrong way. the important reason is the democratic is so vague.

Velkro

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

Its global mostly, its not that cheap anymore, its great store of value, independence from banks, you can carry money "in smartphone" etc.

Wapinter

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

I dont thing all other payment methods should be dumped for bitcoin.I think they can work along with bitcoin all they need to do is shift on blockchain

Robertqueen2

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I can add to your positive points about Bitcoin one important point which is opening the door for thousands of persons from all over the world to work online and recieve payment easily, however, the first goal of Bitcoin is to provide easy solution to those who buy/sell and work on the internet.

20kevin20

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We can't do that at this moment because Bitcoin isn't popular enough. I can't pay my bills in Bitcoin, at a restaurant or at a supermarket. We have to get it popular first.

gentlemand

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Welt Am Draht

Er, I don't think there is any reason to dump traditional payment methods for first wordlers. They're instant, safe and hassle free. The only thing that could inspire people would be serious discounts. Most people don't give a fuck about centralisation, decentralisation or inflation. They just want to buy their shit.

It's a whole different ball game for merchants. They'd love every single angle about it. Unfortunately customers outnumber them quite significantly.

Kprawn

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Quote from: calkob on October 17, 2016, 02:59:33 PM

Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

it sounds good but i def would not say its cheaper ...... this only damages your argument. i agree "its global" "its permissionless" and its "decentralised" but i can send to any other person in the UK for free in seconds, bitcoin currently costs me at least 4 pence per transaction. it also def not faster..... just as fast i would say.

dont get me wrong i love bitcoin too but there is no point arguing on points that just are not true. i use bitcoin because it provides financial freedom not because it is cheaper or faster. this is my reason to use bitcoin

Exactly why we need this discussion.. If we want Bitcoin to be the better alternative, we should make it better. This whole issue with

the Blockchain scaling is harming any chance we are having to go mainstream. The whole issue just have to come to a conclusion now,

so that we can be cheaper and faster than our competitors. The debate should not be, if we are cheaper or faster, but how much faster

and cheaper we are. People must take notice of this and soon... We are losing ground against them every day. Angry

calkob

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Quote from: Kprawn on October 17, 2016, 02:01:54 PM

I had a interesting discussion with a bunch of students from a 1st world country over the weekend. They made some good arguments,

which needs to be addressed. Political views aside, what would motivate people to use Bitcoin in a country where there are loads of

other payment methods to chose from?

Some reasons I gave them was :

~ Danger of centralization and all the evils associated with that.
~ It's cheaper
~ It's faster {should be under normal circumstances}
~ It's FREE to use by everyone {no permission needed}
~ It's global

What other reasons will you add to this, to convince someone to dump their current payment methods?

it sounds good but i def would not say its cheaper ...... this only damages your argument. i agree "its global" "its permissionless" and its "decentralised" but i can send to any other person in the UK for free in seconds, bitcoin currently costs me at least 4 pence per transaction. it also def not faster..... just as fast i would say.

dont get me wrong i love bitcoin too but there is no point arguing on points that just are not true. i use bitcoin because it provides financial freedom not because it is cheaper or faster. this is my reason to use bitcoin

Kprawn

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Quote from: MONKEYJUNK on October 17, 2016, 02:29:38 PM

Everything has your own demons...

It's cheaper? Can you imagine the fee's with the 1mb if a lot of people start to use?

It's faster in somethings and slower in others...

"It's free"... It's money, money isn't free.. (internet/cellphone/pc isn't free)

Global - ok

Ok, your convincing reason for people to opt for Bitcoin over other payment methods is? You totally misread the reason for the post. It's

not to scrutinize my reasons, but rather to give more reasons for other people to do it. We need to find more reasons for people to dump

their current payments for Bitcoin. Adoption will not grow in 1st world countries, if we cannot give people a reason to do it. Wink

~Bitcoin~

legendary

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I think few more can be added in the above list of benifit...

~ it is more secure than traditional centralized payment processor or internet banking
~ Bitcoin network can't go down like other payment processor or nobody can take down bitcoin completely offline so we always have access to our money/bitcoin.

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