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"Build a new financial system" is not a relevant answer to "How can I accept payments from the majority of Americans?".
by hdevalence 13y ago
"Build a new financial system" is not a relevant answer to "How can I accept payments from the majority of Americans?".
- nathancahill 13y agoNo need to build a new financial system, the new financial system is already in place. It needs wider adoption. In the time it took him to write the post complaining about Square, OP could have integrated BTC payments via Coinbase. He could even offer a BTC discount, since he's saving 2-3% on processing fees. If his product is in demand, customers will find a way to pay for it, even if they haven't used Bitcoin before.
- dag11 13y agoThere's no bitcoin equivalent for the experience of being able to have someone physically swipe their credit/debit card in your phone for point of sale payment. Bitcoin cannot replace all point of sale transactions that Square enables.
- Karunamon 13y agoNFC via bitcoin wallet apps.
- eropple 13y agoAnd once more the crowd asks, "who's going to use it?". There is a very, very tiny competitive advantage to supporting Bitcoin. There is a catastrophic competitive disadvantage to not supporting the basic method of Internet transactions.
- Karunamon 13y agoWho says you have to stop taking cards? But physically, there's very little difference between an NFC swipe and a card swipe.
- srdev 13y agoThe entire context of this discussion is regarding a person who cannot accept cards. It is pointing out that Bitcoin is a non-solution because the user base is so small and most people pay with credit cards. You need to keep in mind the context in which you are responding.
- eropple 13y agoThe guy can't take cards and this thread is nattering on about how Bitcoin is the answer and you're asking that question when I point out that Bitcoin NFC apps don't replace that he can't take cards?
- Procrastes 13y agoQR code payments phone to phone are even easier. I'm seeing street fair vendors who started taking square last year taking bitcoin now with QR codes on phones without much resistance. I don't know what their volumes are like.
- eropple 13y agoOr someone will recreate it, support credit cards, and eat his lunch because that someone can actually do business with people who don't know what SHA1 is.