The Bitcoin Turning Point Will Be When Retail Offers Discounts For Payments In Bitcoin
Certainly with the fungibility of retail pricing and profits and similar upward fungibility of bitcoin prices - some retailer is going to figure out it's MORE profitable for them to accept Bitcoin over fiat. In a marketing sense, with the general feeling for continued upward Bitcoin price movement. a (Take 5% Off Price With Bitcoin Payment) Campaign (take your pick of numbers...the higher the better) can only be inevitable.
Imagine, tomorrow - Amazon decides to provide 10% off purchases with payment in Bitcoin - or - 50% off Amazon Prime for, of course, payment in Bitcoin. One can easily imagine that for especially expensive products or purchases - this could be a popular option. One can only imagine the influx of newbies at Coinbase - the frenzy will have begun.
A frenzy that will happen IMO in the foreseeable future. Don't sell your bitcoin cheap.
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Just so you know, Bitcoin can never be truly fungible. Due to the nature of the blockchain design, diferent coins can be distinguished from each other. Monero's transaction structure is able to preserve this fungability. Not to say that there is no use for Bitcoin, just have to keep in mind its limitations.
Also why in the world would Amazon give a discount to pay in Bitcoin?
I was only referring to the price....why is easy...with the fiat value of the currency side perception of bitcoin ever increasing...they could hang onto just a smidgen of each transaction and over time greatly increase their profits.
There are much less risky investments that Amazon puts its money into.
Since they could convert 99.9% daily and take advantage of the 0.1%....I hardly see it as a risk factor.
Yeah you have to understand the types of margins Amazon is working with here. Investment into their own businesses is much more profitable for them than the risks of BTC.