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Well bitcoin transactions are almost free (miners fee is what nowadays 1-2 cents regardless of amount?) as is. It is hard to compete with that Their aim is to
by yc1010 11y ago
Well bitcoin transactions are almost free (miners fee is what nowadays 1-2 cents regardless of amount?) as is. It is hard to compete with that
Their aim is to grow and acquire users and become an import cog in bitcoin and financial worlds
Once you get lets say to a few million to a hundred million users then you endup with all sorts of possibilities such as becoming a bank and offering loans (this alone coupled with a good database of users could be a money maker), offering checking/savings accounts, hell making it easier for users to invest in stocks etc (might be what Goldman interested...) and so on
Remember the likes of Facebook and Twitter didnt have a "revenue model" at start either, look where they are now...
edit: another possibility would be mobile payments (nfc or qr code) to any merchant accepting bitcoin of which there is a growing number thanks to bitpay, think of all the data that could be mined there, they can basically make the whole credit card network obsolete by bypassing it
- ceejayoz 11y ago> Remember the likes of Facebook and Twitter didnt have a "revenue model" at start either, look where they are now... Facebook's doing OK (they have the advantage of not locking themselves into being a simple 140 character messaging service), but Twitter's quarterly results were fairly abysmal.
- bdcravens 11y ago> Well bitcoin transactions are almost free (miners fee is what nowadays 1-2 cents regardless of amount?) as is. It is hard to compete with that You're talking sending Bitcoin from one address to another, not Bitcoin/fiat exchange. Apples to oranges.