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While this may be helpful, I can't see it being a game-changer at all. Have retailers like NewEgg or Overstock seen any sort of drastic revenue increases or act
by ssharp 12y ago
While this may be helpful, I can't see it being a game-changer at all. Have retailers like NewEgg or Overstock seen any sort of drastic revenue increases or activity from accepting Bitcoin?
The problems with Bitcoin are almost entirely on the acquiring -side and not spending side. Getting a Bitcoin is a PITA and I don't think the demand from most consumers is there to overcome the pain.
The game-changer for Bitcoin will be when someone answers the question: "Why should I switch from paying with my credit card to Bitcoin?" with something compelling.
- jusben1369 12y agoI think Bitcoin is the Linux of payments. Everyone always talked about the potential to completely change the desktop (consumer use) but the real impact was the network/backend (Sun/NT machines) So Bitcoin is exciting to me but not as a payment method. But as a backbone it gets really interesting.
- Joeboy 12y agoI like the analogy, but not being a finance person I have no idea - is Bitcoin particularly compelling "as a backbone"?
- Karunamon 12y agoLess bitcoin itself, but the blockchain technology that backs the currency has a number of novel uses. The idea of a public, cryptographically secure and verifiable ledger could be used in everything from voting to domain name registration.
- doubledub 12y agoYour reply is the most valuable & important response of this entire conversation so far. Thank you for saving my faith in the HN community.
- aminok 12y agoFor international fund transfers, yes. It doesn't require using correspondent banks. It's a direct, point-to-point transfer of value.