Re:Ask HN: Why would a government have created bitcoin?
by moe on Sunday April 14, 2013 @06:58PM
(#5548759)
What is the ultimate driver of demand for Bitcoin?
Free instant global money-transfers that can not be charged back and are optionally anonymous? And you ask for demand?!
What legal business has any particular reason to accept Bitcoin payments
Any business that currently pays the >2% Visa/Mc/Amex/Paypal tax on every transaction?
Re:Ask HN: Why would a government have created bitcoin?
by wyager on Sunday April 14, 2013 @07:47PM
(#5548905)
>What legal business has any particular reason to accept Bitcoin payments, when they must then turn around and convert those payments to their nation's currency (at cost)?
You should ask the hundreds of businesses that do so.
The most obvious reason is the fact that it actually costs less. There are substantial fees associated with using credit/debit cards or paypal. The fees for converting BTC to fiat are much smaller.
2. What is the ultimate driver of demand for Bitcoin? Fiat currencies have laws to create demand for them -- taxes, debt laws, etc. What legal business has any particular reason to accept Bitcoin payments, when they must then turn around and convert those payments to their nation's currency (at cost)?