Topic: Why would customers use Bitcoins? - page 102. (Read 133905 times)

I don't have used credit card before but have used paypal for decades. So i know bitcoin can easily replace paypal as paypal make lots of restrictions on transaction especially with large volume and a huge fee for small transaction. Why to get restricted to use own money, that's why customers and even merchants will love to accept bitcoin irreversible and unrestricted transactions.

Cheaper transactions yes, but you pay the fees. This would be OK if there was like a 1% discount when paying with BTC.

Also, you dont need to engage in taking credit if you are using credit cards. Withdrawals on ATMs also cost 0 most of the time. The only thing is the monthly/annual fee.

But how i see it, it would only benefit the store owner. Not to mention the wait time for 1 confirmation to make sure of no double spends.

Cheaper transaction, no matter how much money you transfer it will always be 3 cents. It's anonymous unlike the credit card, you'd have to give out all your info out to the bank with a credit card and the total opposite with bitcoin. With credit card you also pay transaction fees in some shops and stores.

I don't know what bank you are with, but if your credit card is stolen, it is your own fault, your bank is not going to give you a refund. And there are Bitcoin debit cards by the way.

Bitcoin is safe and really easy to use. But most people aren't bothered to set up an account(like a software or hardware wallet, which is the safest kind of wallet).

If we are paid with bitcoin, not fiat, we will have to use bitcoin to pay for goods and services. I got the impression Overstock pays its staff with some bitcoins.

You pay additional fee's in the form of insurance for that privilege and then you have to fight them for those refunds. The insurance fee in some countries are quite high for

the lower income group. { Strange how banks and credit card companies waiver some fee's for more wealthy customers, I would have thought, it should be the other way

around }  Customer protection come at a price and these extra fee's makes Bitcoin much cheaper. 

3 years ago this is how consumers bought things online:

card number [ xxxx xxxx xxxx xxxx xxxx ] - look at card and type 16 digits
expiry [ xxxx ] - look at card and type 4 digits
security code [ xxx ] - look at card and type 3 digits

name as displayed on card [ Mr Frank E Whon ] - look at card and check if its full name or initials.

[ confirm sale ] - press button to finalise sale

time, average 2 minutes to handle

_ _ _ _ _ _ _

now consumers do it
[ pay with paypal ] [ pay with applepay ] - press button to enter payment gateway
[ confirm sale ] - press button to finalise sale

time, average 20 seconds to handle

_ _ _ _ _ _ _

[ QR code ] - scan bitcoin address then check value
[click send]

time, average 20 seconds to handle

_ _ _ _ _ _ _

ok so this year the time for consumers to pay, the ease of handling payment is no difference between bitcoin vs applepay/paypal.. from customers point of view

so what needs to be thought about is why load up on bitcoin instead of paypal/applepay balance.
and here are the reasons
1. applepay/paypal can be hacked. just like Target and Sony were, where customers lost data and risked losing funds
2. applepay/paypal may at some point claim bankruptsy.. users funds are not protected as much as banks are. where as bitcoin is not third party stored.
3. generally speaking.. putting $100 into paypal 3 years ago vs buying $100 of bitcoin 3 years ago.. means you can buy alot more stuff using bitcoin funds now.

ill leave the rest of the forum users to add more CONSUMER advantages.

They would use it because it is cheap to send money as well as being irreversible.

I prefer company's don't have my credit card info.  Just a matter of time before another company's database gets hacked.  Bitcoin is way more secure.

By using bitcoin, our transaction will be faster, cheaper fee, and safe. By bitcoin also we can more easily invest

That is the proper way to word this questions because consumers are the merchants that are the ones actually to allow bitcoin to be used for the transactions that they process. And every transaction they do with a credit card they are charged from visa or mastercard a fee to process each and every transaction no matter how small the purchase. They can charge the merchant a $0.75 charge for a $0.50 purchase from a customer 

Merchants have to pay a much higher fee than the 3 cents on credit card transactions, not to mention the cost for armed security to transport cash and checks. Plus they don't need to worry about counterfeiting, forged checks, stolen credit cards, chargebacks, and other headaches associated with other payment methods. So it makes sense that they will eventually offer a standard discount to anyone paying with bitcoin. That's what I expect will make bitcoin gradually go mainstream and give people a reason to obtain it and use it. In the meantime, I'll just keep enjoying Purse.io. :-)

Yeah but with Bitcoin, no one is going to steal your money just by knowing your address (both physical and Bitcoin). With a credit card, someone can commit credit card fraud with just a name and credit card number.

No, I meant your address if you're buying a physical item. Bitcoin is super painless for digital goods but just as dull as credit cards for form filling when it comes to receiving something in the post.

I have to supply a credit card number to be kept stored on a private server if I use Bitcoin? Why would I risk my credit card info for a $20 purchase?

Because if you own a cellphone it is the easiest thing to do when paying for stuff. Even easier than paying with cash or credit cards.

If you have access to decent banking and have cards etc then I don't think Bitcoin offers any benefit. It's hard to buy, hard to secure and volatile. You have to supply details if you're ordering a physical item anyway. As for fraud the card company should take care of that.

If you have crap credit, live in a country without decent banking or are too young to have a normal account then it's a fine thing indeed.

This is awesome money you can trading, purchase, gambling, invested, and many other just with bitcoin
cutomers must use bitcoin

more easy transaction than other currency