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Bitcoin: the Stripe perspective
Posted on 7/21/14 at 12:58 pm
Posted on 7/21/14 at 12:58 pm
LINK
Pretty good read from a company involved in payment processing.
quote:
Many people have remarked that Bitcoin resembles the internet in the early 90s: we haven’t yet built the Googles that will make it accessible or the Facebooks and Netflixes that will make it broadly useful. So it's an open question: what might a Bitcoin that's useful for the mainstream look like?
Pretty good read from a company involved in payment processing.
4
Posted on 7/21/14 at 1:29 pm to joshnorris14
When the internets was started, there wasn't already an internet that we had used reliably for 200 years.
Posted on 7/21/14 at 1:43 pm to Broke
quote:
When the internets was started, there wasn't already an internet that we had used reliably for 200 years.
The internet is to communication as bitcoin is to money.
Posted on 7/21/14 at 1:54 pm to joshnorris14
quote:
The internet is to communication as bitcoin is to money.
Heck, why stop there - why not the printing press? The Phoenician alphabet? Why not the invention of human language itself?
In my opinion bitcoin is the equivalent of the first fish to crawl onto dry land and start breathing air.
Posted on 7/21/14 at 2:03 pm to Cold Cous Cous
What's the logical comparison though?
Posted on 7/21/14 at 2:08 pm to joshnorris14
quote:
What's the logical comparison though?
Esperanto
Posted on 7/21/14 at 2:18 pm to Y.A. Tittle
quote:
Esperanto
Esperanto did nothing that languages that existed didn't do already.
Did you read the article?
Posted on 7/21/14 at 2:29 pm to joshnorris14
quote:
The internet is to communication as bitcoin is to money.
So if I told you I had a new internet. One that was a little bit of a pain in the arse to use. One that not a lot of people went to, but could. One that you can use to find out the same information that the old one provides. One that provides absolutely no appreciable benefits in relation to the internet we use now, would you use it? Would you use it full time?
Posted on 7/21/14 at 2:32 pm to Broke
Except that this new internet allows you to buy drugs without being traced (maybe). So maybe the best comparison is not the entire internet, but that part of the internet devoted to maximum anonymity, black/grey markets, and illegal activity. so bitcoin:money::silk road:internet
I think this is a pretty fair comparison.
I think this is a pretty fair comparison.
This post was edited on 7/21/14 at 2:32 pm
Posted on 7/21/14 at 2:32 pm to Broke
No.
And your point is more applicable to the future of the internet as a meshnet than it is to cryptocurrencies.
And I will say this, things aren't static, add "but will do everything the internet does better in the future if you take a part in building and using it and you might make a lot of money doing so" and you have bitcoin.
And your point is more applicable to the future of the internet as a meshnet than it is to cryptocurrencies.
And I will say this, things aren't static, add "but will do everything the internet does better in the future if you take a part in building and using it and you might make a lot of money doing so" and you have bitcoin.
Posted on 7/21/14 at 2:33 pm to Cold Cous Cous
quote:
I think this is a pretty fair comparison.
Dell even said that bitcoin was cheaper to accept than typical payment processors charge.
LINK
Bitcoin is a new payment option intended to offer even more flexibility for customers. Bitcoin payments can be made easily from anywhere in the world, and offer reduced payment processing costs.
Posted on 7/21/14 at 3:03 pm to joshnorris14
I can already make payments from anywhere in the world SAFE AND SECURE. Also, my bank doesn't charge me a penny to make payments, charges, or transfers.
What benefit is there? To hide form the government?
What benefit is there? To hide form the government?
Posted on 7/21/14 at 3:06 pm to joshnorris14
quote:
The internet is to communication as bitcoin is to money.
Alright now Josh...
Posted on 7/21/14 at 3:10 pm to Broke
quote:
When the internets was started, there wasn't already an internet that we had used reliably for 200 years.
You do know they had other forms of currency before money, right?
I have an idea, let's go back in time and not look into credit cards...why should we, money has been around for 200 yrs. LOL
No reason for innovation from here eh Broke? Hell, why use paper? Let's go back to carrying around a little sack of gold coins.
Posted on 7/21/14 at 3:43 pm to GeeOH
quote:
credit cards
Not money. They are short term loans. Different animal
Posted on 7/21/14 at 5:19 pm to joshnorris14
Bitcoin is more like gold than money. And it's a ledger which isn't money. And its replicable so other then the novelty of the "first" it has little commodity value long term.
Posted on 7/21/14 at 5:36 pm to C
From a consumer standpoint, what advantage does paying via BC give me over a debit or credit card give me? Fraud, services not rendered, etc.
And stripe is a glorified sales channel, they are not an acquirer.
And stripe is a glorified sales channel, they are not an acquirer.
Posted on 7/21/14 at 5:37 pm to Broke
quote:
Not money. They are short term loans. Different animal
Wrong...many come straight from the bank....and debit transactions...and checks, etc..
I'm just saying you are close minded to think that paper money will be used in 50 years. Something will take it's place.
Posted on 7/21/14 at 7:18 pm to joshnorris14
So how do I get to own some Bitcoin?
Posted on 7/21/14 at 9:50 pm to joshnorris14
Stripe isn't looking for ways to eliminate transactions costs for consumers. It is looking for new ways to charge transaction costs. Since it asserts that Bitcoin users do not have the consumer trust and protection provided by Visa, it seems pretty obvious that Stripe thinks it can perform that function. And I doubt even you believe they will try to provide it free of charge.
The gist of it is that Stripe is looking to increase transaction processing costs for Bitcoin users for the benefit of Stripe. Do you ever bother to think through the ramifications of the ideas discussed in the articles you cite? The practical effects of the ideas you hype reduce the advantages you claim Bitcoins have over other forms of payment. Thus reducing the likelihood Bitcoins ever achieve the acceptability to be considered currency.
The gist of it is that Stripe is looking to increase transaction processing costs for Bitcoin users for the benefit of Stripe. Do you ever bother to think through the ramifications of the ideas discussed in the articles you cite? The practical effects of the ideas you hype reduce the advantages you claim Bitcoins have over other forms of payment. Thus reducing the likelihood Bitcoins ever achieve the acceptability to be considered currency.
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