Quote from: Chopperman on August 25, 2014, 10:02:33 PM

Quote from: StevenS on August 25, 2014, 07:57:42 PM

Quote from: SunBin on August 23, 2014, 08:55:49 AM

Bitcoin payment isn't really viable for restaurant type establishment.

I disagree. A while ago, we took my brother to Ocean Blue Sushi. I forgot what the dollar amount was, but with tip it came to 136.2 mBTC. The Mycelium mobile wallet used the default fee of 0.1 mBTC, which is less than 0.1%. My payment was confirmed in a few seconds by the network, which was reported to the app (Coinbase?) on the restaurant's tablet.

So instead of the restaurant paying about 10c to process your credit card (and you getting about 1c in Credit Card points), you paid about 5c on top of the bill. Via coinbase, they pay 0% fees to sell the BitCoin to them instantly for $$ (first $1M)
No wonder businesses are interested, 0% chance of chargeback, and the customer pays the fees. Unless the businesses gives you a discount for BitCoin purchases, it's not to your benefit though.

The costs associated with accepting credit cards are much higher then that. As a general rule the actual cost of processing a credit card transaction (before charge-backs are taken into consideration) is roughly 3%. If you have good credit then you can likely get 1% back from cash back and/or rewards points from your credit card company. This makes it so you essentially pay at the very least 2% higher price because a merchant accepts credit cards. I don't think that many merchants process more then $1 million in bitcoin transactions so accepting bitcoin is more or less free for them.