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I think the point is that if we can replace credit cards with a no-fee payment method, merchants will save 3% on every transaction. Of course, it has to be as e
by runeks 13y ago
I think the point is that if we can replace credit cards with a no-fee payment method, merchants will save 3% on every transaction. Of course, it has to be as easy for the consumer as credit cards (which I think Bitcoin can become).
- wdewind 13y agoNo, the point is that credit cards give people a line of credit, which increases overall liquidity. People buy things on credit cards they wouldn't otherwise be able to. When they buy that thing on a credit card, the company selling that thing gets the money earlier, and can thus take it and buy more from their suppliers and so on and so forth. Bitcoin removes overall liquidity, by behaving like cash. The merchant may save 3% on bitcoin transactions, but they will have fewer transactions.