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Near-instant payment confirmationsConfirm payments in seconds, with zero chargebacks.(Although credit cards can be near-instant as well, they do not eliminate chargebacks. It may be worth reiterating the point that BitUSD can be near-instant to help preempt skepticism and also to distinguish BitUSD from Bitcoin and slower solutions.)[bReduce liability[/b]Increase customer confidence-your customers no longer need to worry about data breaches or identity theftEliminate minimum credit card purchase amountsNo need to set a minimum transaction size to cover credit card fees. Give your customers maximum flexibility.
Quote from: House on November 08, 2014, 11:19:08 amIf there was a way to accept BitUSD/AU without the eftpos facilities that cost an arm and a leg we would set it up in a pinch.!! I think we have a new Delegate brewing here. Step 1: Gather with some talented, motivated friends and write up a proposal for a Delegate outlining how you will set up bitUSD/AU.Step 2: If you need start capital, promise away some % of your future Delegate salary, or ask for donations or a grant from I3.Step 3: Set up your business and accept bitUSD with your bitUSD/AU service.Step 4: ? ? ?Step 5: Profit!
If there was a way to accept BitUSD/AU without the eftpos facilities that cost an arm and a leg we would set it up in a pinch.
Increase Profits At just $0.02 per transaction you can increase your profit margins by several percent by eliminating credit card fees.
I think you will need on/off ramps available before you can sell this. Merchants will need to be able to convert to fiat. Mainly to pay wages, taxes, and for some, piece of mind in this new unproven frontier.
BitUSD is a currency. They don't need to hold it. All we care about is that they are not accepting BTS (an asset we hope to accumulate value) and immediately selling it.
Excellent pitch BM! Everyone is getting excited just by seeing how everything comes together, and that fuels into energy for coming up with suggestions. Keep posting things like this regularly and our precious market cap will keep rising, even before the push Great suggestions from bits in particular! Taking all the metaphors inherent in our language and tasting, smelling, feeling them out before letting them into the wild to attract people. Quote from: bits on November 07, 2014, 09:34:14 pmIn summary, people like to Gain, Take, Increase, and be part of the future, or at least not part of the pastmore than have, be, eliminate, and reduce
In summary, people like to Gain, Take, Increase, and be part of the future, or at least not part of the pastmore than have, be, eliminate, and reduce
From the time the customer makes a payment you start earning the best interest the market can offer on your funds.
Quote from: julian1 on November 07, 2014, 08:38:00 pmLooks Excellent. Maybe benefit of global reach - Start accepting payments from around the world now!While thats obviously a great feature, major payment processors are global. Theres no added value relative to competitors in that regard.
Looks Excellent. Maybe benefit of global reach - Start accepting payments from around the world now!
Quote from: Ander on November 08, 2014, 12:33:40 amQuote from: Rune on November 08, 2014, 12:19:50 amI don't think we should focus too much on merchant adoption. It never really seemed to mean much for bitcoins price, and like others have mentioned, at best it will be the merchants currently accepting bitcoin that will begin to also accept bitUSD. 1) Merchant adoption in bitcoin results in merchants having to sell the bitcoin immediately, to avoid the volatility. Whereas with bitUSD, they dont. So merchant adoption for bitUSD should be more beneficial to us.This is the core assumption that this entire discussion stands or falls on. Currently I don't think this is true at all. 99% of merchants will want to sell their bitUSD instantly, just like they do with bitcoin. Anything that involves installing complicated software (for small merchants) or means dealing with employee access to private keys (for large merchants) will simply not be considered - especially when we are not able to argue that it will actually bring any immediate benefit in sales (since the base of actively spending bitUSD users is currently nothing more than a rounding error).bitUSD needs to be extremely well established as a store of wealth with a proven track record before any non-true believer merchant will hold them. Even the true believers are probably currently caught in bitcoins suffocating grib of altcoin hate, and will resist bitUSD just based on that. Any shop that currently has significant bitcoin sales might even fear integrating bitUSD because the loyal bitcoiners will punish them for supporting an "evil altcoin".I don't oppose going after merchants. I just think now is way too early, and I think that the way to getting it out there to the merchants should be through the already established payment systems. Anyway, I'm not even saying this because I oppose having a marketing pitch now, and I don't oppose the effort in this thread, it will clearly be effective to have some simple way for those few and precious early true believers to get introduced into the system. I just think it is important that we don't get carried away into thinking that "once x takes bitUSD we are going to the moon!!!" like bitcoin was, and especially that we don't spend any significant resources on that effort.
Quote from: Rune on November 08, 2014, 12:19:50 amI don't think we should focus too much on merchant adoption. It never really seemed to mean much for bitcoins price, and like others have mentioned, at best it will be the merchants currently accepting bitcoin that will begin to also accept bitUSD. 1) Merchant adoption in bitcoin results in merchants having to sell the bitcoin immediately, to avoid the volatility. Whereas with bitUSD, they dont. So merchant adoption for bitUSD should be more beneficial to us.
I don't think we should focus too much on merchant adoption. It never really seemed to mean much for bitcoins price, and like others have mentioned, at best it will be the merchants currently accepting bitcoin that will begin to also accept bitUSD.
I don't think we should focus too much on merchant adoption. It never really seemed to mean much for bitcoins price, and like others have mentioned, at best it will be the merchants currently accepting bitcoin that will begin to also accept bitUSD. The real issue, however, is that few people will be spending bitUSD for anything other than the novelty of it (unless its for drugs - the dark markets are the only place where getting merchants on board actually means anything).I think we should focus on promoting bitassets as places to put your savings, and then just try to grow the bitshares market cap. At about the time in our life cycle where getting regular merchants on board will begin to matter, coinbase and bitpay will integrate us on their own initiative.Of course there is nothing wrong with working out a pitch and doing some outreach, but I'd definitely vote against any initiative that would allocate serious development or marketing resources towards getting traditional merchants to accept bitUSD. If we want to see bitUSD used for trade, then lets fork openbazaar and integrate it for profit into BTS with easy to use, decentralized merchant hosting by nodes. In fact lets hire the best of the current OB team as delegates to do it full time! Just getting the concept and roadmap down and publicizing a whitepaper about it would attract way more attention than almost any amount of traditional merchant integration. Headhunting just a single OB developer would make /r/bitcoin explode with rage and that would give us lots of publicity with a huge positive effect on our market cap.In fact I'm probably going to research who the best of their developers are, and approach them to ensure that they understand that they could be doing what they currently do, but full time with a competetive salary.
Excellent - Also, BitUSD would completely do away with the need for services like the recently setup https://bitreserve.org started by one of the founders of CNET.
A few suggestions on these three items, inspired by your suggestion to "Help turn everything into a positive".Quote from: bytemaster on November 07, 2014, 07:00:21 pmImprove CashflowYou have immediate access to the proceeds from your sale without any delays or holding periods.Eliminate ChargebacksYou are in control of your funds and no one can hit you with a chargeback after you have delivered the goods.Reduce LiabilityEliminate the need to collect sensitive financial information form your customers.Improve CashflowYou have Gain immediate access to the proceeds from your sale without any delays or holding periods.Eliminate Chargebacks --'eliminate' is just not an attractive word IMOChargebacks are HistoryYou are in Take control of your funds! With BitUSD, chargebacks are a thing of the past.--or replace BitUSD with a phrase which articulates the mechanism for eliminating chargebacks--'Chargebacks are history' is just as good as saying 'welcome to the future' Reduce LiabilityEliminate the need to collect sensitive financial information form your customers.Increased SecurityBe free from the worry of managing customer's sensitive financial information. Edit: In summary, people like to Gain, Take, Increase, and be part of the future, or at least not part of the pastmore than have, be, eliminate, and reduce
Improve CashflowYou have immediate access to the proceeds from your sale without any delays or holding periods.Eliminate ChargebacksYou are in control of your funds and no one can hit you with a chargeback after you have delivered the goods.Reduce LiabilityEliminate the need to collect sensitive financial information form your customers.
Quote from: matador123 on November 07, 2014, 07:13:11 pmI have a feeling that many of the first merchants to adopt BitUSD will be merchants who are already accepting Bitcoin. I would mention something about the stability of BitUSD vs. the volatility of Bitcoin. i.e.; you won't have to worry about immediately converting sales in digital currency over to fiat, as BitUSD has stability.We are assuming on/off ramps and liquidity... because that is guaranteed to come.We are assuming 99% of merchants don't care about anything other than getting to Fiat and not being exposed to volatility... so for the purposes of the merchants we are pitching to BitUSD needs to be the mental equivalent to actual USD. Remember... we know and care about how/why it works, merchants just care that it works and what the final result is. With the stuff we are working on I hope to find a solution where everyone can just use BitUSD as a dollar with no conversion spread.
I have a feeling that many of the first merchants to adopt BitUSD will be merchants who are already accepting Bitcoin. I would mention something about the stability of BitUSD vs. the volatility of Bitcoin. i.e.; you won't have to worry about immediately converting sales in digital currency over to fiat, as BitUSD has stability.
QuoteEliminate ChargebacksYou are in control of your funds and no one can hit you with a chargeback after you have delivered the goods.Strike for being too wordy and sounding like a "catch".The merchants honesty should be implied and not questioned within the pitch.
Eliminate ChargebacksYou are in control of your funds and no one can hit you with a chargeback after you have delivered the goods.
Quote from: bytemaster on November 07, 2014, 07:00:21 pmIncrease Profits At just $0.02 per transaction you can increase your profit margins by several percent by eliminating credit card fees.Am I right in thinking it is the customer who would pay the transaction fee when making a purchase?
Sounds good, with the assumption that on/off ramps will be in place when this goes up. Quote from: bytemaster on November 07, 2014, 08:02:04 pmWe are assuming 99% of merchants don't care about anything other than getting to Fiat and not being exposed to volatility... so for the purposes of the merchants we are pitching to BitUSD needs to be the mental equivalent to actual USD. Remember... we know and care about how/why it works, merchants just care that it works and what the final result is. With the stuff we are working on I hope to find a solution where everyone can just use BitUSD as a dollar with no conversion spread.Awesome. But I'd also argue that security is a concern for merchants using a new system. It would be easy enough to reassure them that transactions are secure.
We are assuming 99% of merchants don't care about anything other than getting to Fiat and not being exposed to volatility... so for the purposes of the merchants we are pitching to BitUSD needs to be the mental equivalent to actual USD. Remember... we know and care about how/why it works, merchants just care that it works and what the final result is. With the stuff we are working on I hope to find a solution where everyone can just use BitUSD as a dollar with no conversion spread.
The only other thing I can think of here is to mention the coolness factor. Just like 'bitcoin accepted here' can lead to merchants getting new business from bitcoiners, so can 'bitUSD accepted here'.
Reduce LiabilityEliminate the need to collect sensitive financial information form your customers.
I am working to outline the pitch for merchants and would welcome feedback on ways to simplify and amplify the impact of the primary benefits for using BitUSD. Lets focus on BENEFITS and not FEATURES. Ie: 400 HP engine == feature, massive acceleration == Benefit. Help turn everything into a positive rather than using negatives. Recommendation on images to go along with these topics would also help.Increase Profits At just $0.02 per transaction you can increase your profit margins by several percent by eliminating credit card fees.Improve CashflowYou have immediate access to the proceeds from your sale without any delays or holding periods.Earn interest on your FloatFrom the time the customer makes a payment you start earning the best interest the market can offer on your funds.Eliminate ChargebacksYou are in control of your funds and no one can hit you with a chargeback after you have delivered the goods.Reduce LiabilityEliminate the need to collect sensitive financial information form your customers.No LimitsFree your business from the dependency on banking relationships.