Quote:
Originally Posted by SkinnyPupp
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.
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It's not 3-5%. It's less. Companies that except bit coin sell them right away. If they had to hold them for 7 days no one would except them because the prices change so much. It also shows that companies don't think the currency has any long term value. It's a pain in the a$$ right now for a person to buy bitcoins and use them compared to using paypal or a credit card.