The most efficient payment method. Tiny transaction costs, cross-border and instant, regardless of amount. Immediately spendable is the key. No need to wait.
Any other cases you brought up on your threads would be more costly than spending the UTXO.
Post by twetch#774
Using the ledger allows for a more efficient settlement but paying with the token for goods and services isn’t more efficient than paying with fiat.
Besides, it’s not always about what is cheapest. Most people opt for convenience over price tag.
What the chain says
- Block
- 626 906
- Time
- 2020-03-19T15:15:13Z
- Signer
- 17mv3xxFGGokNYaPyCSuVVbqjJjppAEpq3
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#774
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17mv3xxFGGokNYaPyCSuVVbqjJjppAEpq3 VerifiedReplies (13)
How will you pay an individual in a country any amount, for a low fee instantly? This is a narrow-minded view. This is not possible w/ fiat - it takes days. And inb4 the point of being able to wait, not folks in 2nd/3rd rate countries.
Did you ever have to pay someone overseas? I do regularly, doesn’t take days.
Within Europe it’s instant. I can even send euros and have whatever the recipients national currency is arrive at his account. The world has evolved bro.
Euros are a subset of the global economy. America is still behind the times. Some of Asia too and definitely South America/Africa. We haven't tapped in the potential of those people to earn/spend. Bitcoin enables this better than any human invention before
lol dream on bro, these people want to earn and spend MONEY and bitcoin is not money to anybody and never will be, it’ll only be used as a backend for money aka fiat
Additionally, the credit cards and banking give the illusion of convenience. Are actually horrible/costly - the merchants don't actually get paid until days maybe even weeks later. Imagine people getting paid and can instantly spend to anyone in the world.
There is no "illusion"
They ARE convenient, otherwise they wouldn't have displaced all other payment methods. They cost merchants dear so there is an OPPORTUNITY to build a better system. Wanna try?
Try to live without them to see their convenience
For the consumer, yes.
For the merchant, implementation/maintenance costs are in the tens of thousands and they are fearful of chargebacks and when payments fail. Also they increase their prices to offset the high fees so that consumers pay more.
lol accepting credit/debit cards (online or offline) does not have tens of thousands in maintenance and implementation cost for the merchant, have you ever ran a business?
Accepting bitcoin on the other hand does increase cost + complexity significantly.
So, there is a cost offset by convenience, so what?
It is the best cost/benefit globally available option for merchants right now.
Try to convince a merchant to dump credit/debit cards and you will see.
Right and bitcoin is soooo convenient in functioning as a currency that every merchant that accepted it the past 10 years instantly converted it to fiat.
People can already get paid and spend it instantly without volatility, additional tax systems etc.