Topic: Why would customers use Bitcoins? - page 88. (Read 133905 times)

Bitcoin has a relatively interesting price history, mostly a steady up-trend beside some big drops. With this up-trend, you can afford to discount a little for bitcoin, and a 3-cent fee is nothing compared to some credit card surcharges nowadays.

Exactly, people who are aware about the bitcoin transactions and its fees they would never use other methods when it comes to online transfers, as the fees of banks are too high to afford, and bitcoin does it very smoothly and cheaply.

customers use Bitcoin usually because it's powerful features not existing when we use fiat or the other currencies online
it's decentralized currency with low fee and speed transactions

Yes and the best thing is that it is one to one transaction without the involvement of third parties so bitcoin is reliable and convenient and the bitcoin transaction fees are too low as compared to the banking system.

as long customer serve with third party application or startup,the benefit is not too much,but customer will more ease use bitcoin if directly pay wallet to wallet.

Its an easy question why they should.
First the bitcoin is safe and easy to use.
Second the bitcoin is the best secured currency there is available.

Bitcoin will be easy for to exchange and to pay someting for customers and it is mean easy shopping and fast payment systems because of customers would use it .

Yes, and it is faster and cheaper as compared to banking transactions, banks takes almost 24 to 48 hours for online transfer with higher fees, but with bitcoins the credits are instant and with minimal fees and that is the reason people choose bitcoins.

Well, then why to use bitcoin at all?? Many people think that this is a prestige to have business incorporated with blockchain transactions.
Bitcoin is something new fast and good and  safe . You can use your phone or BTC card almost everywhere in the world if you have decent internet connection!

You send them and the other party receives it in a blink of an eye, what else do you need???
It's the best reason one might give customers to use Bitcoins are they are instant...

They use it because it is in fact a much faster and cheaper.
The sad thing is that not many people know what Bitcoins is.

that is simply the fact, as long as the BTC price is not stable you cant trust with the value you are holding, transaction fees are very low ,but getting that to fiat for daily usage is real pain

yeah, i sometimes don't see the usage of bitcoin for customers to buy in shops instead of using a credit card. but other than that bitcoin is good for small multiple transactions and very large transactions. and all being done in seconds (confirmed in minutes) with the smallest fee.

customer use bitcoin  because for service and he want to safe money and he want also earn money with bitcoin and bitcoin use same like bank card

yeah correct. many reasons for you should use bitcoin. one of the most i like
bitcoin will become mainstream, and you have to follow to use bitcoin, it is imperative to change era

Credit cards don't confirm quickly, they get an auth quickly. The actual transaction often takes days to complete. With Bitcoin, a transaction that has 0 confirmations can be seen as an auth. Since bitcoin is not centralized, there are some possible double-spend attack vectors but they are difficult and the vendor can take steps to make them very unlikely.

Also, what do people make of the very very long BTC confirmation times? Some of my payments take up to one hour to confirm, this is a big disadvantage BTC has over credit cards AND cryptocurrencies which are much faster now.

Preclus - how do you think Chase can afford to pay you those cash back bonuses?

It comes from merchant fees, and merchant fees get added to either the product price or "shipping and handling"

That's why many gas stations here only accept debit and not credit, with debit they can have a lower price per gallon and charge the customer the transaction fee. But they can't charge a transaction fee for credit cards, so they have to add that to the price per gallon - which raises the price for cash customers too.

So to have a competitive price for cash customers, they have to reject credit cards and only accept debit.

This thread is so full of unbelievably wrong information that I wonder if most of the people in this thread have ever actually used a credit card. Are most people posting in this thread either 13 years old or broke?

This information relates to the United States. As a customer, you don't pay a fee to use a credit card. In fact, many times, you get cash back. For many (most) cards, you pay no fees at all as long as you pay the balance off when it is due. And you don't need the money in your account to buy something, you pay what is due a month or two later.

The merchant pays fees, yes. But the larger the merchant, the lower the fees they pay.

Let's look at a real example. Chase's Freedom credit card. I have one:

https://creditcards.chase.com/credit-cards/chase-freedom.aspx

When you sign up, you get a free $150 to spend (after spending $500). Annual fee is $0.

If you pay your balance off when it is due, you charges are $0. The annual rate shown is if you float a balance, that is.. if you don't pay off what is due and you leave your account owing them money.

You get 1% cash back on all purchases and 5% cash back on certain purchases.

If your card gets stolen, according to US Federal law, the FCBA, the maximum you can lose if your card is lost or stolen and then used is $50.

http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

US credit cards now have a chip so credit card skimmers no longer work if you use a terminal that has a chip reader. Unlike the EU, the US is chip + sig and not chip + pin. My chase card has a chip.

People in this thread are saying "bitcoin is cheaper because there are no fees". How many people get paid in bitcoin? People get paid in their local currency. Then they have to convert that to bitcoin. There's a fee and a risk because to do an exchange you usually use an online exchange and many of them have disappeared, along with the bitcoins and cash, on a regular basis.

Then you send the bitcoins to someone paying the transaction fee. Unlike a credit card, if they keep your bitcoins and send you nothing you are SOL (seriously out of luck). Unlike a credit card, if your bitcoins are stolen, you are SOL. On the other end, they likely need to convert them to local currency to buy something. There's yet another exchange involved.

Now, if I want to give someone $20, I can hand them a $20 bill. There is no transaction fee at all. The transaction is immediate.

If I want to give someone $20 with a check, I can write them a check. No transaction fee. Online, I can send an echeck (ACH).

I can send an electric bank wire in the US to anyone for no fee because my account balance is high enough. I can send $10MM with no fee at all. And there's a record of it so if they say they didn't get it, I can prove they did.

The misinformation is just unbelievable.

I think BTC is only important when you think the transaction fees. Otherwise BTC price still not stable as USD...