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it is true that more attention is good, however it is getting attention for the wrong reasons. It isn't getting attention because people are using bitcoin as a

• ekianjo 13y ago
  > obviously if there were some incentive to use BTC (discount or whatnot) I might reconsider. You are already getting a discount if you use BTC to buy stuff online, since you don't need to use a credit card for such services. Credit cards are not free, you need to purchase them from your bank on a yearly basis. There is a very valid use of Bitcoin already: transferring money from one point in the world to another, without commission and fees. And this is also one of the key uses of Bitcoin, currently. > however it is getting attention for the wrong reasons There's not wrong reason. Whatever make people come to own Bitcoin does not mean they will stay for the same reason. As the utility curve ramps up, hoarders will progressively use it to buy goods and services. And even if it's a tiny portion of users, it will still push for additional Bitcoin growth.
  • aianus 13y ago
    I don't know where you're from, but credit cards in the US and Canada are not only free, but they pay me a 1% bribe to pay by credit whenever I have a choice. And because of their oligopoly on electronic payments, they're able to force merchants to sign contracts stating they're not allowed to charge an additional fee to consumers who pay by credit. Therefore it's almost always cheaper for me to pay by credit than any other form of payment.
    • ekianjo 13y ago
      Ok, maybe that's the case in the US/Canada only then. But try travelling around the world with your credit card, and you will be charged commissions when using your card abroad. By the way, there's nothing free even if it's free for you. Merchants have to pay the cost of providing Mastercard / visa payments and that cost makes it to the price of goods they sell. So you are paying the cost no matter what.
      • aianus 13y ago
        I'm well aware that credit card payments are not free for the merchant, and I ask if there's a cash discount whenever possible (gas stations and family owned businesses). That said, the alternative of using cash has its own costs in the form of more robberies and accounting and transportation and security. Those costs are also passed onto the consumer eventually.
        • ekianjo 13y ago
          Yeah, and that's where Bitcoin can improve over both credit card and cash, by providing a reliable service with way lower costs for the merchant.
          • aianus 13y ago
            But nobody (other than die-hard fans) will use it unless there's a personal benefit. You have to offer at least enough of a discount over the credit card price to cover the lost credit card rewards.
  • cstrat 13y ago
    As aianus said, credit cards can easily be free! (pretty sure merchants are the ones who pick up the bill for that privilege) You are right that the international transfer of bitcoin is very useful - but to say there are no commission or fees is not true. If you start with Australian dollars and you want BTC, you pay fees and commission when you buy/sell BTC. Then you pay mining fees (if you want to support the ideals of BTC), and then to transfer back into Euros you would pay fees/commission with whatever exchange you're using. Granted, it is going to equate to less than the % you would pay if you did it with your bank. However I still feel having a fixed exchange rate is worth something.
• aianus 13y ago
  Gyft.com gives 3% cashback at a variety of retailers including Amazon.com (I am not affiliated with gyft.com, I just love bitcoin)