Luxury watchmaker Breitling starts accepting Bitcoin for purchases

[M.W.]

I already pointed to the fact that sellers don't care to get paid right away or days later as long as they know they are guaranteed they get paid. And they are guaranteed by credit card merchants as long as their sold product is not faulty or as long as they did not overcharge or otherwise behaved fraudulently.

Edit: saw you edited your post. No, sellers don't need to get paid right away. Consider Amazon. They are in this for the long run. They could not care more whether they get paid right now or a week or month later. In fact it does not affect their reporting and accounting whatsoever. Sold and shipped product in a period are accounted for in that period regardless of when the money settles. Smaller vendors came more for cash management purposes but we are talking days not weeks or months. Even the family owned inflatable boat business I purchased from did not care whether they receive the funds right away or days later as long as they have the assurance that I made payment by the time they ship. They have that assurance from their fiat payment processor

Who cares? I'll tell you who cares. The person or business selling the goods or services! That's who! You can't just look at the situation from the perspective of one party in a two-party transaction.

 

[deaddog]

No. There's no point in doing that. The population thinks in terms of dollars, so that's how things are priced. That's not going to change anytime soon, and will require a new up-and-coming generation to be able to think in terms of satoshis before things can be priced that way. We'll all probably be dead before that happens unfortunately.

So the scalability problem has technically already been handled at this point. It's just a matter of adoption.

If the population is thinking in dollars and they are not going to benifit (only merchants benifit) then why will it be adopted.

Is there enough peer to peer transactions to really benifit the population?

With a trusted third party, if there is a scam or fraud, transactions can be reversed.

 

[longshort]

And this is the system you're saying is so superior?

It's really a solved problem with no need for cryptos. For example, SEPA transfers of EUR are actual bank transfers and free for both sides. By EU law, they must complete in a business day.

Most Dutch and many European banks are in a network that exceeds this by offering instant SEPA transfers, around the clock 24/7. The receiver is credited immediately. A Dutch bank account costs about 2 or 3 euros a month. Also I bet the SEPA system uses very little energy. No need for wasteful GPU and ASIC farms.

 

[johnarb]

No one is forcing anyone to use Bitcoin and cryptos for payment

Breitling, Gucci, Tag Heuer, and others accept Visa, PayPal, (Ali Pay), SEPA (maybe) ACH (maybe), Venmo (maybe, Zelle (maybe)

The option to pay using Bitcoin and cryptos are for the hodlers. Haterz can go pound sand

 

[Pekelo]

Yes, immediate with an approval. But that's not a completed transaction

Again, who the hell cares as long as the practical result of it is immediate? Look, you are backing an obsolete and shitty coin (for its original purpose), that is a fact. The only reason you are arguing for it is because you are invested in it.

If you want to look as a techlover instead of a desperate crypto bro, embrace a coin that is actually a technical improvement over BTC and can handle the needed speed and volume, in an economic friendly way. I am all for those if they exist.

 

[johnarb]

What kind of idiot does not understand the concept of liquidity or market depth on a trading forum?

 

[ajacobson]

Also impacting the price adversely.

 

[The_Krakenite]

The Rolex Daytona has always been my favorite.

That said, every business cycle goes into booms & busts. Even during those rare times when the FED isn't busy trying to fuck it up.

 

[MacBookProHo]

Rolex Daytona has always been my favorite

Don't wear a Rolex, or an Apple watch.
If you wear something Common and known and mainstream, and cliche ....your mind and personality will turn common, known, mainstream and cliche. Completely lacking in independent thinking and originality and intelligence.
My advice to you, Krakenite, is to wear a Ladies Diamond watch.

Chopard Happy Sport Joaillerie
You will be more successful in life wearing this...instead of a Rolex or Apple watch. Move your mind away from the brain dead herd.

 

[Baron]

Again, who the hell cares as long as the practical result of it is immediate?

The sellers. Because your "immediate" as the consumer is actually a week's worth of time to a seller. That's 5 solid days their money is tied up doing nothing.