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> It doesn't matter. I can pay with bitcoin on Steam. I can pay with Dogecoin with one additional step. >It makes bitcoin more fungible and thus viable as a c

> It doesn't matter. I can pay with bitcoin on Steam. I can pay with Dogecoin with one additional step. >It makes bitcoin more fungible and thus viable as a currency. Isn't using Bitpay just a way of exchanging bitcoin for dollars, while kidding yourself that's not what you're doing? > And for what it's worth, I find the bitcoin payment process immensely superior to credit cards: Just pull out the phone and scan the QR code on the screen. Screen updates to show payment was made. All that's left is to wait countless tedious hours for the funds to appear in the, for example, Namesilo account. It is easy (so is using a credit card), but it's almost uselessly slow (unlike credit cards). Edit: maybe this explains anti-Bitcoin sentiment. The fundamentalists can't handle any factual comments that aren't entirely about how game changing it is.

azernik 10y ago
> Isn't using Bitpay just a way of exchanging bitcoin for dollars, while kidding yourself that's not what you're doing? That's fungibility. That's liquidity. A big marker of stability and legitimacy for a normal currency is that it's freely convertible. A parallel example: you can pay for stuff "in euros" on Paypal, but Steam likely only gets dollars. That's still good for the viability of the euro as a currency, because it can be easily exchanged for goods and services, even with a middleman.
- hartpuff 10y ago
  The point is, unlike with Bitcoin, people with Euros do not have any significant ideological opposition towards dollars, or acquire Euros because they believe it is superior to or will one day replace dollars. > That's still good for the viability of the euro as a currency, because it can be easily exchanged for goods and services, even with a middleman. So it's good for Bitcoin in exactly the same way that it's good for Dogecoin, and other popular alts.
  - azernik 10y ago
    > The point is, unlike with Bitcoin, people with Euros do not have any significant ideological opposition towards dollars, or acquire Euros because they believe it is superior to or will one day replace dollars. And that's why it's a bit silly to have ideological positions about currencies :-P I'm just arguing that it is actually good for Bitcoin the currency, not that it's good for the bitcoiner ideology. > So it's good for Bitcoin in exactly the same way that it's good for Dogecoin, and other popular alts. Oh yeah, totally. It's good for the viability of blockchain currencies in general.
    - hartpuff 10y ago
      > And that's why it's a bit silly to have ideological positions about currencies Indeed. I think Bitcoin would be given the time of day by a lot more people if there was a lot less political whackjobbery surrounding it, and more sane, informed discussion from people such as yourself.
    - deleted 10y ago
      [deleted]
ryanlol 10y ago
>All that's left is to wait countless tedious hours for the funds to appear in the, for example, Namesilo account. It is easy (so is using a credit card), but it's almost uselessly slow (unlike credit cards). This is not a bitcoin problem.
- hartpuff 10y ago
  Then why does it only happen using bitcoin? Actually, scratch that, because it doesn't even matter. Wherever you want to lay the blame (anywhere but bitcoin) it's a problem for anyone using bitcoin, making it more useless than (not "immensely superior" to, as claimed) using a credit card or Paypal, which makes it a problem for bitcoin.
  - ryanl0l 10y ago
    >Then why does it only happen using bitcoin? Because some people insist on waiting for the payment to settle before actually providing the services, although it's not nearly as common as it used to be. This is just completely unrealistic with credit cards where settlement times are far longer than with bitcoin, days or months. >Wherever you want to lay the blame (anywhere but bitcoin) it's a problem for anyone using bitcoin, making it more useless than (not "immensely superior" to, as claimed) using a credit card or Paypal, which makes it a problem for bitcoin. I don't know, I use bitcoins to pay for things regularly and pretty much everyone accepts zero-confirmation transactions nowadays (which is pretty much the same as accepting credit card payments, except the settlement will most likely take less than an hour).
    - ChemicalWarfare 10y ago
      Credit card payment is a '2 phase' process. The second phase you are referring to as settlement - moving funds from the issuing bank to merchant's bank does take days. The first phase of the process - authorization, when successful not only makes sure the customer has enough credit on their account, it also reduces their buying power by the grand total of the auth thus guaranteeing the funds to the merchant. And it takes 2-4 seconds.

azernik 10y ago

> Isn't using Bitpay just a way of exchanging bitcoin for dollars, while kidding yourself that's not what you're doing? That's fungibility. That's liquidity. A big marker of stability and legitimacy for a normal currency is that it's freely convertible. A parallel example: you can pay for stuff "in euros" on Paypal, but Steam likely only gets dollars. That's still good for the viability of the euro as a currency, because it can be easily exchanged for goods and services, even with a middleman.

hartpuff 10y ago
The point is, unlike with Bitcoin, people with Euros do not have any significant ideological opposition towards dollars, or acquire Euros because they believe it is superior to or will one day replace dollars. > That's still good for the viability of the euro as a currency, because it can be easily exchanged for goods and services, even with a middleman. So it's good for Bitcoin in exactly the same way that it's good for Dogecoin, and other popular alts.
- azernik 10y ago
  > The point is, unlike with Bitcoin, people with Euros do not have any significant ideological opposition towards dollars, or acquire Euros because they believe it is superior to or will one day replace dollars. And that's why it's a bit silly to have ideological positions about currencies :-P I'm just arguing that it is actually good for Bitcoin the currency, not that it's good for the bitcoiner ideology. > So it's good for Bitcoin in exactly the same way that it's good for Dogecoin, and other popular alts. Oh yeah, totally. It's good for the viability of blockchain currencies in general.
  - hartpuff 10y ago
    > And that's why it's a bit silly to have ideological positions about currencies Indeed. I think Bitcoin would be given the time of day by a lot more people if there was a lot less political whackjobbery surrounding it, and more sane, informed discussion from people such as yourself.
  - deleted 10y ago
    [deleted]

ryanlol 10y ago

>All that's left is to wait countless tedious hours for the funds to appear in the, for example, Namesilo account. It is easy (so is using a credit card), but it's almost uselessly slow (unlike credit cards). This is not a bitcoin problem.

hartpuff 10y ago
Then why does it only happen using bitcoin? Actually, scratch that, because it doesn't even matter. Wherever you want to lay the blame (anywhere but bitcoin) it's a problem for anyone using bitcoin, making it more useless than (not "immensely superior" to, as claimed) using a credit card or Paypal, which makes it a problem for bitcoin.
- ryanl0l 10y ago
  >Then why does it only happen using bitcoin? Because some people insist on waiting for the payment to settle before actually providing the services, although it's not nearly as common as it used to be. This is just completely unrealistic with credit cards where settlement times are far longer than with bitcoin, days or months. >Wherever you want to lay the blame (anywhere but bitcoin) it's a problem for anyone using bitcoin, making it more useless than (not "immensely superior" to, as claimed) using a credit card or Paypal, which makes it a problem for bitcoin. I don't know, I use bitcoins to pay for things regularly and pretty much everyone accepts zero-confirmation transactions nowadays (which is pretty much the same as accepting credit card payments, except the settlement will most likely take less than an hour).
  - ChemicalWarfare 10y ago
    Credit card payment is a '2 phase' process. The second phase you are referring to as settlement - moving funds from the issuing bank to merchant's bank does take days. The first phase of the process - authorization, when successful not only makes sure the customer has enough credit on their account, it also reduces their buying power by the grand total of the auth thus guaranteeing the funds to the merchant. And it takes 2-4 seconds.