Why would customers use Bitcoins? - page 77.

pocarime32

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Quote from: MTBTT on March 25, 2016, 07:58:56 PM

Quote from: trenchflaint on March 24, 2016, 06:01:01 AM

Quote from: n0ne on March 24, 2016, 05:02:44 AM

How huge the value might be, it can be transacted within minutes without much transaction fee.

This is a good thing about bitcoin no hassle of waiting for days just to transfer funds from one account to another.

many people just love the speed. including remittances people need a fast transaction bitcoin is perfect for this because the very instant bitcoin transactions

But sometimes it's takes to long waiting the confirmation, like 2 days ago i have experienced on it. But yeah, using bitcoin for transaction no need wait until 1-2 days.

MTBTT

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Quote from: trenchflaint on March 24, 2016, 06:01:01 AM

Quote from: n0ne on March 24, 2016, 05:02:44 AM

How huge the value might be, it can be transacted within minutes without much transaction fee.

This is a good thing about bitcoin no hassle of waiting for days just to transfer funds from one account to another.

many people just love the speed. including remittances people need a fast transaction bitcoin is perfect for this because the very instant bitcoin transactions

BeGoods

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Quote from: n0ne on March 24, 2016, 07:01:17 AM

Quote from: trenchflaint on March 24, 2016, 06:01:01 AM

Quote from: n0ne on March 24, 2016, 05:02:44 AM

How huge the value might be, it can be transacted within minutes without much transaction fee.

This is a good thing about bitcoin no hassle of waiting for days just to transfer funds from one account to another.

Yeah no need to wait for days as well if requires a mediator but bitcoin doesn't need that. We itself can make the transaction without any intermediate.

I think all the money delivery method does not require a long time for the transaction. all methods only takes a few minutes like paypal and western union. they also have instant transactions
you should tell anyone else besides this This was too mainstream dude

severaldetails

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Bitcoin makes sense if you do not want a connection between the product you buy and your name.
Works perfect with digital goods.

KennyR

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Quote from: piotrgal on March 25, 2016, 08:56:56 AM

I think I know what you mean.
I would say that using bitcoin makes sense if somebody can't or (for whatever reason) don't want to deal with traditional finance.

So with bitcoin you can avoid cash, banks, debit / credit cards, etc., so everything related to "normal" money.
You can just pay for something "without" money. That's the difference.

Truly said, he can't make use of the bitcoin for his daily expenses as direct bitcoin acceptance is very low. At present the bitcoin usage will increase stores accepting bitcoin.

piotrgal

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I think I know what you mean.
I would say that using bitcoin makes sense if somebody can't or (for whatever reason) don't want to deal with traditional finance.

So with bitcoin you can avoid cash, banks, debit / credit cards, etc., so everything related to "normal" money.
You can just pay for something "without" money. That's the difference.

uname

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Quote from: vero on March 25, 2016, 07:35:41 AM

Quote from: Hemo on March 25, 2016, 05:54:21 AM

The transactions fee (Bitcoin) is lower than PayPal...
2.9% + $0.30 per transaction for PayPal (in US)... Shocked

You can only receive ~$0.4X if someone (customer) send $1 to you (seller)... Sad

In other words, you can receive $0.9X instead of $0.4X in Bitcoin.. Cheesy

agree with you, everyone will looks to less fee transaction if they use bitcoin for now this is still work but if bitcoin price high of course fee transaction will be a problem.
for example:
1BTC = $1000
fee per transaction 0.0001 it same like $0.08-$0.1
how if
1BTC = $5000
fee per transacion 0.0001 it same like $0.4-$0.5

yeah it means that if the price is enlarged fee would we spend would be greater. but it is the rule from the beginning.
after all what could be worth such a high bitcoin

ranochigo

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Quote from: vero on March 25, 2016, 07:35:41 AM

Quote from: Hemo on March 25, 2016, 05:54:21 AM

The transactions fee (Bitcoin) is lower than PayPal...
2.9% + $0.30 per transaction for PayPal (in US)... Shocked

You can only receive ~$0.4X if someone (customer) send $1 to you (seller)... Sad

In other words, you can receive $0.9X instead of $0.4X in Bitcoin.. Cheesy

agree with you, everyone will looks to less fee transaction if they use bitcoin for now this is still work but if bitcoin price high of course fee transaction will be a problem.
for example:
1BTC = $1000
fee per transaction 0.0001 it same like $0.08-$0.1
how if
1BTC = $5000
fee per transacion 0.0001 it same like $0.4-$0.5

Fees are chosen by the miner. They can choose the threshold for the fee to be included into the block. When Bitcoin goes to $5000, the block size problem would be solved. With people unwilling to pay such a high fee, the minimum fee they want to accept would get lower and the price would effectively be the same.

There is no chargeback risk either.

lumeire

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Quote from: vero on March 25, 2016, 07:35:41 AM

Quote from: Hemo on March 25, 2016, 05:54:21 AM

The transactions fee (Bitcoin) is lower than PayPal...
2.9% + $0.30 per transaction for PayPal (in US)... Shocked

You can only receive ~$0.4X if someone (customer) send $1 to you (seller)... Sad

In other words, you can receive $0.9X instead of $0.4X in Bitcoin.. Cheesy

agree with you, everyone will looks to less fee transaction if they use bitcoin for now this is still work but if bitcoin price high of course fee transaction will be a problem.
for example:
1BTC = $1000
fee per transaction 0.0001 it same like $0.08-$0.1
how if
1BTC = $5000
fee per transacion 0.0001 it same like $0.4-$0.5

Although while that assumption of a $5000 / BTC rate could possibly come true in the very far future, It's kind of irrelevant by then because inflation would have taken over.

vero

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Quote from: Hemo on March 25, 2016, 05:54:21 AM

The transactions fee (Bitcoin) is lower than PayPal...
2.9% + $0.30 per transaction for PayPal (in US)... Shocked

You can only receive ~$0.4X if someone (customer) send $1 to you (seller)... Sad

In other words, you can receive $0.9X instead of $0.4X in Bitcoin.. Cheesy

agree with you, everyone will looks to less fee transaction if they use bitcoin for now this is still work but if bitcoin price high of course fee transaction will be a problem.
for example:
1BTC = $1000
fee per transaction 0.0001 it same like $0.08-$0.1
how if
1BTC = $5000
fee per transacion 0.0001 it same like $0.4-$0.5

Hemo

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The transactions fee (Bitcoin) is lower than PayPal...
2.9% + $0.30 per transaction for PayPal (in US)... Shocked

You can only receive ~$0.4X if someone (customer) send $1 to you (seller)... Sad

In other words, you can receive $0.9X instead of $0.4X in Bitcoin.. Cheesy

ranochigo

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Quote from: richardsNY on March 21, 2016, 06:26:08 PM

Quote from: zsobro on March 21, 2016, 05:09:30 PM

because of the low fees, anonymity, and good investment.

Low fees is true, but when you look at the huge amount of micro transactions, then you'll realize that 0.0001 standard fee won't get your transaction confirmed within 2 blocks in some cases. I had a few high priority transactions with the 0.0001 fee included, and they took more than 3 blocks to confirm. It may be due to the mempool transactions were piling up at that time, but it shows that low transaction fees are not always true.

The 0.0002BTC fee is still relatively low compared to other payment processors. It could also be because of your transactions having a large size.

The main incentive for users to use Bitcoins is that they have the coins and the merchants are giving incentives for using Bitcoin. Bitcoin is relatively hard to get and expensive. This doesn't offer much of a benefit to the users. However, when using Bitcoin, merchants can avoid the hefty fees and chargebacks (most commonly for virtual goods and services). The merchant can then pass the savings to the users and attract them to use Bitcoin as a payment method.

tyz

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Agree too! Low transaction fees are one of many advantages Bitcoin and crypto currencies in common have.
Just remember that refugees in Europe which want to send some money to their relatives have to pay up to 30% in fees. This is ridiculous and shows what potential Bitcoin could have.

Quote from: simonloff on March 24, 2016, 10:20:47 AM

Quote from: trenchflaint on March 24, 2016, 06:01:01 AM

Quote from: n0ne on March 24, 2016, 05:02:44 AM

How huge the value might be, it can be transacted within minutes without much transaction fee.

This is a good thing about bitcoin no hassle of waiting for days just to transfer funds from one account to another.

Totally agree, I seen the sometimes extremely slow nature of conducting bank to bank transfers and specially world wide transactions, Bitcoin needs just a click and few minutes for confirmations which is great IMO.

Aamir1

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Quote from: Erzatium on March 24, 2016, 08:27:06 AM

Yes. It will be so nice if there will be more people will use Bitcoin as a payment method, so you will make Bitcoin more popular.
And that can be very good, you can see that the world is becoming more modern also and that is perfect.
The only thing is that Bitcoin must be more acceptable later so we can spend it more.

Ofcourse in future many more people will use bitcoin when it will be adopted by many places, and when it is accepted by many places then customers will start using it and that will help bitcoin grow more in coming time.

simonloff

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Quote from: trenchflaint on March 24, 2016, 06:01:01 AM

Quote from: n0ne on March 24, 2016, 05:02:44 AM

How huge the value might be, it can be transacted within minutes without much transaction fee.

This is a good thing about bitcoin no hassle of waiting for days just to transfer funds from one account to another.

Totally agree, I seen the sometimes extremely slow nature of conducting bank to bank transfers and specially world wide transactions, Bitcoin needs just a click and few minutes for confirmations which is great IMO.

Imoote

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Quote from: Hugroll on March 24, 2016, 08:53:42 AM

Quote from: bearex on November 21, 2015, 04:15:28 PM

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

thats a good point, which is why i don't use bitcoin in person when i can just use a credit. but i do use bitcoin online cuz its just much safer than credit credit, and a lot more anonymous.

Yes very true because I think bitcoin very easy. Transactions of bitcoin too fast and does not require a long time for very little cost, of course. Maybe it was the cause of many costumers who use bitcoin.

Hugroll

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Quote from: bearex on November 21, 2015, 04:15:28 PM

I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.

So what is really a benefit for using Bitcoins, customer wise?

thats a good point, which is why i don't use bitcoin in person when i can just use a credit. but i do use bitcoin online cuz its just much safer than credit credit, and a lot more anonymous.

Erzatium

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Yes. It will be so nice if there will be more people will use Bitcoin as a payment method, so you will make Bitcoin more popular.
And that can be very good, you can see that the world is becoming more modern also and that is perfect.
The only thing is that Bitcoin must be more acceptable later so we can spend it more.

ajun96

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Quote from: Steve_Tou on March 24, 2016, 07:15:33 AM

No banks required, lastly an additional choice rather than your usual payment method.

yeah
I doubt you will depend on bitcoin only because at this point I think is still lacking support to simply use bitcoin. you'd know why the reason
we must admit we still need banks and fiat bank is required

kenot21

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Actually you still pay using credit card. They have a percentage to how much did you spend using it. You think they will stay in business without any payment??!! Bitcoin has a low transaction fee with just a press/click. Adding to this it's much safer and faster to transfer funds.
For now, there's not much stores accepting bitcoin than stores accepting credit card.

Topic: Why would customers use Bitcoins? - page 77. (Read 133913 times)