Post
Topic
Board Bitcoin Discussion
Re: Fees and payments
by
kryptqnick
on 05/12/2017, 07:46:27 UTC
One of the big features of Bitcoin is that it is cheaper than paying with credit cards. ...
Anyways, businesses have hidden the credit card fees from consumers by pricing them in to products and eating the fees. With Bitcoin though, the sender pays the fee. Even if the fee is a lot lower than credit card fees, you're still spending more when using Bitcoin because the the sender pays the fee. This needs to change since businesses already price in fees. ..
That depends a lot on which credit cards you actually mean. In my country when you pay with credit card the fee can be from zero to 3%, I guess, whereas btc fees can go up to 5% or so.
If you mean the prices of products, though, then why are you saying the fee is already there? People who pay with cash also pay the fee you've mentioned, right? Yet it wouldn't make sense for them to compensate what credit card holders should pay.
Moreover, if some cryptocurrency gets highly adopted for everyday life (and I think it's pretty obvious that bitcoin will not) then taxes will be payed in it as well, just like with fiat.