Quote:
Originally Posted by Manic!
If companies that accepted bitcoin had to hold them for 7 days do you think and company would accept them. Also why would anyone pay by bitcoin if you could just whip out a credit card.
Check out this video.
Where did bitcoin go wrong? - Video - Technology |
First of all, credit cards have an inherent cost of 3-5% that the merchant has to eat. Bitcoin works better than credit card for small transactions under $5, which is perfect for small digital purchases like apps, songs, etc.
For bigger purchases, bitcoin is more secure because payments can't be reversed. And again, the fee works out to about 0.01% for most of these transfers.
Not sure what you're talking about with regards to holding for 7 days.
It's really complicated right now, which is why "any company" isn't accepting them. Once Paypal flips that switch though, you'll see a lot more adoption. Bitcoin is not the most convenient or the best way to spend money online right now. But everything about it suggests that it absolutely will be the way purchases and transfers are done in the future.