Bitcoin at all time high

[cmoney]

What people don't understand here is that BTC fill a *very* valid need on the internet. That need is just minor day to day transactions. You want to monetize a website but use micropayments? Well BTC. What does it cost to setup? It isn't that $50 a month for a merchant account It isn't the 4% or whatever paypal charges and lets people reserve-chargeback scam you. It is really pretty simple. I've continually seen more and more places accepting bitcoins.

Most people who make their initial decision on such things are not very quick to change. Most people who hear about BTC are like, WTF? ( I know I was.. I am pretty sure I made fun of Micon.. but then as I actually read about them and understand how they work, I changed my mind to one of just being cautious ) Most people won't change until they are glaringly wrong. You see that all over in these threads.

The volatility really really sucks for commerce, but we are still on the beginning stages of BTC. No one comments on how BTC introduction compares to the introduction of any currency that is not backed by a precious metal. It is all just straight FUD.

If BTC were as janky as people want to believe, there wouldn't be near as many sharp people creating services based around them.

It may always have a place for non tangible services such as subscriptions to online data services. This is because most merchants who sell a non tangible product rather get something than nothing for their product. The product they are selling is generally already completed and the overheard generally low when dealing with non tangibles (for example the micon system). For example, maybe the cost of updating whatever content service they provide or the cost of hosting it.

It is a completely different situation when you are dealing with tangibles. This is where i think BTC are going to have a real tough time. Unless you can mark you tangible product up to such a degree (like 5-10 times the cost to produce it) you are going to have a hard time justifying taking BTC over USD for it. IMO, the last few days have really hurt its chances of being accepted by merchant as a way for them to take payment for tangible goods.

Actually a bitcoin billing solution for porn sites is a great idea. Maybe it already existd, but if not, I just gave someone a million dollar idea. Porn sites will take ANYTHING they can get at this point. Plus you would avoid the 14 percent rape fee credit card processors charge the sites since they are deemed "high risk"