Why would customers use Bitcoins? - page 98.

pedrog

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Quote from: richardsNY on December 09, 2015, 11:17:40 AM

Quote from: BellaBitBit on December 03, 2015, 02:14:08 AM

Most credit and debit cards are not without built in fees. A 3 cent fee for Bitcoin does not seem like much.

It's not much at all if you compare it to the fees that debit card companies are charging. They often charge 2-5% of the total transaction amount.

Topic's about costumers, and as my experience goes CC cards are free.

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Quote from: BellaBitBit on December 03, 2015, 02:14:08 AM

Most credit and debit cards are not without built in fees. A 3 cent fee for Bitcoin does not seem like much.

It's not much at all if you compare it to the fees that debit card companies are charging. They often charge 2-5% of the total transaction amount.

pedrog

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Quote from: BellaBitBit on December 03, 2015, 02:14:08 AM

Most credit and debit cards are not without built in fees. A 3 cent fee for Bitcoin does not seem like much.

It's not much but you need to wait quite a few hours for transaction confirmation, while with credit/debit card it's instant and free...

goinmerry

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Maybe because their money are invested in bitcoin. I use bitcoin if I lose cash. That could be the prime reason if someone wants to use his or her bitcoin. Just like a credit card. Lost of cash then his second choice is bitcoin.

BellaBitBit

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Most credit and debit cards are not without built in fees. A 3 cent fee for Bitcoin does not seem like much.

michietn94

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well not everybody has a credit card and its harder to setup credit card account rather than bitcoin wallet

Bitcoin nowadays has been used for world wide so it is as convenient as credit card usage, and if you are talking about security,some of the bitcoin wallet provide really strong security system

and with bitcoin you can earn money online Grin

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Quote from: bearex on November 21, 2015, 05:15:28 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?

In my opinion,
Bitcoin is great.. easy to use. and much more as an investment itself.
as for credit cards more likely some of them have hidden charges.
and its not safe to use. as when someone gets your detail information on it.
they can easily hacked it. well this is just my opinion.

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Quote from: Blawpaw on December 02, 2015, 09:53:34 PM

Simply because they would not need to use Banks... When people begin to understand the empowerment that btc gives them they will surely start to use it.

The exchangers are like banks (at least the biggest ones like Coinbase which is financial licensed). They require a lot of documents like any bank.

BTC is useless if you want to buy online. It's only good for speculation.

The online shopping is made via debit cards. They are free of charge, instant transactions and protected.

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Quote from: bearex on November 21, 2015, 05:15:28 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?

Never heard of a credit card who does't charge an interest for the amount you owe them regardless if amount is passed due or not.
Maybe you are referring to a debit card.

If I am paid with Bitcoins for my services then I would love to use them to buy items online. No need for those ID's and other requirements just to qualify for a credit card.

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Quote from: bitart on December 02, 2015, 05:59:32 PM

Quote from: Hugroll on November 29, 2015, 06:00:25 PM

Quote from: butcherboss on November 27, 2015, 10:57:53 AM

Easier to use and people can't steal it from you easily.

i agree with the easier to use part, but if you own a debit/credit card, isnt it the same difficulty of being stolen.? im guessing you would pay from your phone and your phone has the same chances of being stolen as your wallet.

It can be stolen, chances can be the same. But most of the BTC wallet apps are PIN protected usually. So if someone steals it, he should guess the PIN and it's really hard, even in case when the PIN is 6 digits. It's a bit more secure. If you are really lucky, the thief has no clue about bitcoin and doesn't care about your BTC wallet app

Got that right to the point. Credit cards are hacked easily now. They can even make a copy of your credit card once it is stolen. I will still go for bitcoin. Cannot be easily hacked and traced.

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Simply because they would not need to use Banks... When people begin to understand the empowerment that btc gives them they will surely start to use it.

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BTC price road to $80k

I think the only one benefits that why costumers want to use bitcoins because is easy to use that the others.. but the problem is if you send it to wrong address or the owner of address is scammer you can't get refund unlike debit/credit card and also paypal that you can dispute the receiver the get refund for your sent amount..

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Another use case on coindesk discussion:

"Nahh, my son's a gamer, he buys his bitcoin, then uses it to buy a steam card online using a VPN that looks like he is in russia (the games are cheaper if you buy them in russia)...sounds weird, but due to geo-locking and the inability to figure out the actual geographic location of the bitcoin, the transaction is far cheaper then doing it any other way in Australia - with credit cards they know where you live lol and ream you because you are Australian...thus I understand what the gamer's are doing here: it is a good use of bitcoin to avoid geo-locking."

I guess in future, goods/services priced in bitcoin will always be much cheaper than price in fiat money, since all the merchants know that their bitcoin income will appreciate over time, makes them some extra profit, even the sale income is lower than fiat. And they can have international sale too

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Quote from: Hugroll on November 29, 2015, 06:00:25 PM

Quote from: butcherboss on November 27, 2015, 10:57:53 AM

Easier to use and people can't steal it from you easily.

i agree with the easier to use part, but if you own a debit/credit card, isnt it the same difficulty of being stolen.? im guessing you would pay from your phone and your phone has the same chances of being stolen as your wallet.

It can be stolen, chances can be the same. But most of the BTC wallet apps are PIN protected usually. So if someone steals it, he should guess the PIN and it's really hard, even in case when the PIN is 6 digits. It's a bit more secure. If you are really lucky, the thief has no clue about bitcoin and doesn't care about your BTC wallet app

Hugroll

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Quote from: butcherboss on November 27, 2015, 10:57:53 AM

Easier to use and people can't steal it from you easily.

i agree with the easier to use part, but if you own a debit/credit card, isnt it the same difficulty of being stolen.? im guessing you would pay from your phone and your phone has the same chances of being stolen as your wallet.

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Quote from: quentincole32 on November 27, 2015, 09:56:03 AM

so many reason why customer use bitcoin,i will write it some.
1. easy to use,you can use it anywhere as you find bitcoin ATM or by smartphone with internet connection
2. friendly for newbie,newbie not feel hard to use and understand bitcoin procces
3. non physical,its benefit for busy man,not have to bring bag or physical wallet
4. easy to carry,just bring smartphone,you can bring payment method
5. fast payment,fast and low fee,its loving by anyone who using payment.

in regards to point 2. saying bitcoin is easy to handle because of BTMs .. really?
thats like saying gold is easy to handle because you can sell it in a pawn shop... but then your no longer handling gold, which then negates the point of bitcoin or golds usefulness because your saying its required to be swapped... bitcoin is only useful if it doesnt need to be swapped before using..

you might aswell also say Euros are extremely useful in america.. but not because shops accept it. but because you convert it at the airport.. meaning its actually dollars that have usefulness in america

..hope you get my point

Quote from: bitart on November 27, 2015, 05:25:08 PM

One thing I'm thinking about continously in connection with these benefits. To have most of the benefits you should handle your BTCs with a smartphone. What if the smartphone's battery drains? I know there are portable power banks, but let's say every of your batteries have drained. If you use fiat or bank card, there is no problem, they don't depemd on battery. Maybe the BTC debit card can be the solution, as long as someone doesn't invent a specific hardware for spending BTC's at merchants.

well imagine you sit on your debit card and snap it.. its not like you can just type in your privkey into another device in 10 seconds.. you have to wait 10-14 days for a new card to be delivered. also you can charge a battery for 5 minutes just to give it enough juice to send a tx

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Very low fee, easy to use and can be exchange in any money or payment processors.

bitart

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Quote from: quentincole32 on November 27, 2015, 09:56:03 AM

so many reason why customer use bitcoin,i will write it some.
1. easy to use,you can use it anywhere as you find bitcoin ATM or by smartphone with internet connection
2. friendly for newbie,newbie not feel hard to use and understand bitcoin procces
3. non physical,its benefit for busy man,not have to bring bag or physical wallet
4. easy to carry,just bring smartphone,you can bring payment method
5. fast payment,fast and low fee,its loving by anyone who using payment.

One thing I'm thinking about continously in connection with these benefits. To have most of the benefits you should handle your BTCs with a smartphone. What if the smartphone's battery drains? I know there are portable power banks, but let's say every of your batteries have drained. If you use fiat or bank card, there is no problem, they don't depemd on battery. Maybe the BTC debit card can be the solution, as long as someone doesn't invent a specific hardware for spending BTC's at merchants.

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Easier to use and people can't steal it from you easily.

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Quote from: bearex on November 21, 2015, 05:15:28 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?

In my opinion, none if the price is exactly the same. Yes... they are safer, yes you do not have to apply for a credit card and all that, but most customers do not mind that, as most have credit cards already.

The real benefit is in sites that sell goods cheaper in Bitcoin, for example, using purse.io you can get cheaper items from amazon, and there are other sites like that. I think if all sites accepting Bitcoin offered discounts, adoption would be much faster, and that does not have to mean necessarily a loss for the seller, as Bitcoin price is very likey to raise long term.

So it is kind of a win-win situation: The seller accepts Bitcoin with a discount, it gets more costumers. The more costumers there are, the more Bitcoin adoption. The more Bitcoin adoption, the higher the Bitcoin value (probably compensating for the discounts offered).

Topic: Why would customers use Bitcoins? - page 98. (Read 133905 times)