A lot of people from ex-USSR and many third-world countries doesn’t have Paypal and cannot use Amazon.
If bitcoin is accepted here, devs will get more backers. It’s easy to integrate and transaction cost is much less than other payment systems.
Currently there are two major easy to integrate bitcoin payment processors - bitpay.com and coinbase.com
yeah, lets get the 500 dollars of bitcoin payment from the trust fund shut ins who actually invest in that. and lets not mention how it’ll be useless soon.
What trust fund are you talking about ?
Is your reply just to show your hatred about a new technology that you don’t understand as all the ignorant usually do?
Do you have any better option to serve bankless and cardless backers who cannot use paypal or amazon ?
Just for your knowledge - any bitcoin payments processed by coinbase or bitpay are automatically settled to merchant’s account in US dollars. Do you still see any trick ?
I have a feeling with the overall volatility of Bitcoin and its various security issues, accepting it for payments would not be a very good idea.
In our case bitcoin is only method of payment, not the method of savings.
As I told above - bitpay and coinbase pay merchant in US dollars or EUR, thus, bitcoin volatility doesn’t matter at all.
For those who is not yet aware - such a large retailers as tigerdirect.com and overstock.com are now accepting bitcoin. In example, Overstock has additional $30,000 USD daily from bitcoin sales. You can also shop in Walmart, CVS and many other mall networks with electronic gift cards bought with bitcoins on gyft.com and egifter.com
I personally have been using bitcoin for over a year and I found it much more convenient comparing to paypal and credit cards with their annoying address verification and limited locations where I can internationally ship purchased goods (I’m living outside of US and EU).
Also, when I pay with bitcoin, I often have 3% discount because seller saves on paypal/credit card fees.
This must be a joke, the value of the bit coin can fall and rise at any given point it is just a too unpredictable currency, e.g if the current price of Bitcoin is $1000 per coin and you give one coin to buy some pledge pack or something then the next day that could fall to $700 and then they might lose money on it.
Woot! Payment of the future!
… Not really.
The shops starts with PayPal first, I am sorry. But we plan to add more payment options later.
Bitcoin is down around $400 now, too.
Bitcoin was nice, but after … trading … it is too unstable to be used for payments 
Bitcoin is not a currency, it’s commodity like digital version of gold and its price volatility is normal. The only major difference with gold and other scarce commodities is ability to easily transfer amounts between bitcoin accounts.
Thus, it’s ideal for international trade and avoids insane banking/conversion fees. Price volatility is not really a problem because bitcoin is deflationary and in long perspective it goes up. I.e those who bought bitcoin half year ago for $200, now may sell it for $400 and they don’t really care is now price $410 or $450 as anyway they would spend less for purchased product (converting it to EUR or USD).
For those who don’t want to take risk and hold any bitcoins for long time, it’s easy just to buy it locally and spend the same day without any risk of price volatility. The only benefit will be saving on bank/card fees.
For millions of bankless or card-less people in third-world countries bitcoin is the only convenient way to pay abroad. Otherwise, they would spend over 10% on currency conversion and international transfer banking fees.
Bitcoin is a failed concept that has gone bankrupt in effect making it completely worthless not that it was ever worth anything before hand.
Edit: Oh and as you are suggesting using it in trade then it is a currency just the same way camels and sheep are used as currency in some countries are you going to suggest that we start trading this game for a few goats?
Oh, really ?
Your reply is too similar to those comments made by conservative old men who blamed Internet in early 1990s stating it’s useless and will never develop into anything serious.
Just wonder why don’t you blame crowdsourcing? Just a decade ago every business “expert” would laugh at Kickstarter concept as yet another utopian idea.
I’ve been researching bitcoin since 2010 and from the very beginning I recognized it as the next technological breakthrough, like Internet in 1990s or Personal Computers in 1980s. While most of the people blamed bitcoin like you do it now, I invested a bit in what I believed is the future of online economy and now it gained enough to make me really independent and free to live where I want and do whatever I want.
Bitcoin is an innovative payment network and a new kind of money.
Maybe Bitcoin is commodity now, it is what the F…g stock exchange made from it.
Bitcoin was a nice payment method, now is only good for bull at stock exchange.
You made money on a bubble, that doesn’t mean the technology has fundamental resilience.
LOL dude give it up Bitcoins are worth crap these days and are not a trade-able commodity any more. The simple fact is that no discerning company is going to invest in any trade with Bitcoins.
Why can’t people from ex-USSR countries and third world countries use Paypal? You usually only need a credit card and a mail address for a Paypal account and maybe you have to use a VPN solution if the service is blocked by the government (because of whatever reason…)
You are not well informed. Many serious investments in bitcoin technology were made by companies in 2014.
Do you think Tigerdirect, Overstock.com and Squareup.com are complete idiots and just adopted failing technology ?
Okay, let me have an opinion about bitcoins then:
The basic idea of a digital currency is quite good. I appreciate such new technological approach. There has never been a better time to do this now since so many people trust the internet again.
However the implementation is completely wrong or at least destined to fail. Why? It’s like stock market, but even more speculative. How come? Anyone can create bitcoins but there is a limit in the whole amount of bitcoins, which the inventor set to roundabout 21 million bitcoins. A real currency is not bound to any certain limit. Instead goods (e.g. Gold in the national bank) or economical strength define how much a currency of a country or currency union is worth.
Since so many bitcoins (BTCs) have been created, it’s impossible to gather more coins than the set limit. So what happens now is the price for each coin will rise. But what happened during the last days is something that nobody would have expected that soon: BTCs got lost / stolen (nobody knows, what really happened at Mt. Gox). The trust in this currency is non-existent for many people who wanted to start investing.
China had some impact on the BTC value, too. The Chinese government had forbidden any conversion from BTC to Renminbi (Chinese currency). That day BTC’s value dropped by 40%(!) which is according to the value of one BTC a lot. It was due to the fact that 1 billion of possible interested people dropped to zero (according to public opinion, there might be still some people left).
That means in conclusion: I wouldn’t trust that digital currency. As long as it’s so easy to manipulate the value in short terms, I wouldn’t recommend investing in this market and therefore paying with this is insecure for both customers and shopkeepers.
perfect summary. bitcoins was invented by scammers who knew that those who got into the scheme early on would generate the most amount of bitcoins, then when more and more people get involved, the value will rise exponentially, and the creators of the scheme will be able to cash in on the initial investment. the big companies know this too so they’re investing early. they also have the financial backing to take the risk in case the bubble bursts and the value of bitcoins reaches its true value, which is zero.
