Sweet, now I can buy my gyro and the NSA won't know my food preferences.
All joking aside, if Bitcoin transaction rates are lower for merchants than traditional credit cards, I wonder if merchants will charge less (like they used to when paying for things in cash), and whether the CC companies will try to enforce price parity as in the past.
Actually, more importantly, merchants can now keep payments off the books for tax purposes, right? Forget the 2.5% transaction fees, that's chump change compared to a 35% savings of corporate income tax. Whoa.
For individuals that want to send and receive Bitcoins all of your points are valid. But for public facing entities tax evasion could be harder with Bitcoins because all transactions are in the Blockchain and real world businesses will have to publish their Bitcoin Address for customers to use which the IRS could easily find latter. In fact, Bitcoin might make tax evasion harder for real world businesses.
All joking aside, if Bitcoin transaction rates are lower for merchants than traditional credit cards, I wonder if merchants will charge less (like they used to when paying for things in cash), and whether the CC companies will try to enforce price parity as in the past.
Actually, more importantly, merchants can now keep payments off the books for tax purposes, right? Forget the 2.5% transaction fees, that's chump change compared to a 35% savings of corporate income tax. Whoa.