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They claim that more than 20, businesses use their services. The official merchant count on Bitcoin Pulse is approximately 2, merchants. Whichever number you believe, adoption is clearly rising. The unusually cold weather in Florida had caused me to look for a long-sleeved shirt. I selected Bitcoin and clicked the Submit Order Now button. I then chose to use my Coinbase account to make the Bitcoin payment. The dialog presented the details: I am not sure of the exact timing used to lock in the price and convert the payment to U.
The bigger question one might ask is why would anyone want to buy something with BTC when they could just use their credit card? I think there is more than one reason. The folks at Bitpay say that credit cards were not designed for the Internet. They further say that merchant websites can reach countries, but credit and debit card payment systems reach far fewer.
Anyone with a bank account can create a digital wallet at Coinbase or other exchanges and convert their currency to BTC. I predict that people anywhere in the world will be able to go to a physical exchange dealer and deposit their currency into a BTC digital wallet on their smartphone. The difficulty of getting and keeping a credit card is well known to millions of people. In theory, a debit card should be easy for anyone to get, although some have hidden fees and restrictive policies of use.
From a merchant point of view, BTC will provide a larger reach, fewer restrictions, and lower fees. Banks collect tens of billions of dollars in fees. Bitpay has none of these and in fact has no transaction fees at all for their merchant customers.
They charge a flat monthly fee for operating the BTC services. The billions in fees charged to merchants become part of their cost of business and are passed on to the consumer. The inefficiency of credit cards for online commerce provides a strong motivation for the adoption of BTC. Music companies 15 years ago decided not to participate with downloadable music. Publishers at the time decided not to participate in digital books.
The Internet creates disintermediation industry by industry. Watch out Cable TV. Healthcare is not excluded from the threat opportunity either. Bitcoin , e-Business , Healthcare , Internet Technology. Responsive Theme powered by WordPress.