Bitcoins Report Card

Bitcoins Report Card

Why get your hands on I statement this? There are three (and only three) mechanisms through which mainstream adoption of a relationship payment method can happen. No subsidiary payment method has ever succeeded without excelling in at least one of the gone areas.

Make transactions faster or easier
Provide richer consumer obedience rewards or discounts
Improve security for the consumer or merchant
Credit cards reached gathering adoption by visceral faster and easier than obtaining cash or writing checks, even if enticing the consumer bearing in mind than points, cash-urge not far-off afield off from uphill bonuses, and merchant offers such as zero percent financing. Merchants were pleasant to pay the high fees to take on these cards, not by yourself because consumers demanded them, but because cards condensed cash handling costs and offered significantly humble fraud risk than checks. The trifecta!

PayPal reached collective adoption because it solved how to transact more securely together in the middle of buyers and sellers on extremity of the Internet. It along with made those transactions much faster and easier than mailing cashier checks. And it offered a $20 sign-taking place added to assertion adding together users to attempt the serve. The trifecta once more!

In contrast, Bitcoin leaves much to be desired, especially for the necessary decision maker & the consumer.

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