Why would anyone spend bitcoins?(purse.io)
purse.io
Why would anyone spend bitcoins?
https://purse.io/blog/post/84922967188/why-would-anyone-spend-bitcoins/
3 comments
"Merchant adoption is not THE barrier to Bitcoin commerce - it’s the lack of incentive to spend."
Merchants accepting Bitcoin is a brain dead decision. "How would you like to save over 50% on payment processing?" is the easiest sales pitch around. The real challenge is convincing Bitcoin holders to spend.
Merchants accepting Bitcoin is a brain dead decision. "How would you like to save over 50% on payment processing?" is the easiest sales pitch around. The real challenge is convincing Bitcoin holders to spend.
This is an even greater hurdle to overcome now that spending a Bitcoin is a taxable event. According to the IRS, precisely which Bitcoin you spend has significant consequences. Without fungiblity, Bitcoin is not a practical currency.
love what you guys are doing at purse.io. We plan on accepting bitcoin soon as well!
Accepting Bitcoin from a merchant perspective is a brain dead decision. "Save over 50% on your transaction costs" is an easy sales pitch. Convincing people to spend bitcoins - that's the real challenge.