Falkvinge.net – Bitcoin’s Four Drivers: Part 3 – Merchant Trade:
Rick Falkvinge (@Falkvinge) continues his series addressing the drivers that will propel Bitcoin forward with part three: Merchant Trade
“Several countries have laws against credit card fees that come on top of the merchants’ sale price; that means that there’s no way to get a better deal by paying cash or avoiding the credit card companies in another way”.
“There’s a lot of profit to be made here in cutting out the clearinghouse middlemen”.
“I predict small mom-and-pop stores will be the first drivers, out of enthusiasm for the technology, and once it hits usability critical mass, merchant economies of scale will move to promote its adoption”.
“Bitcoin stands to effectively kill both Visa and MasterCard because of exactly this”.