[jaredandrews]

Every HN thread that discusses bitcoin contains this claim. What can you do to support this? Will the providers of this superior user experience not expect compensation for their efforts? Will miners not expect compensation once the coin limit has been reached? Will bitcoin transaction companies not need extra coin around to account for fraud? How can there possibly be no fees when a third party is required for the common man to use bitcoin?

I am pro bitcoin but, I am very skeptical of the frequent claim that bitcoin will enter mainstream usage without fees similar to that of credit cards.

[jnbiche]

There will be (and is now) the possibility for a merchant to accept Bitcoin with 0 fees. These will be the merchants who are able set up open source payment processing system by themselves (or willing to pay someone to do this).

Others will pay a small fee for the convenient that a full-service solution provides. Right now, bitpay charges 0% and a small monthly fee for payment processing. To be honest, I see them staying with that business model, perhaps permanently.

If they or other incumbents start jacking up the fees, someone else will take their place. Bitcoin community is swarming with entrepreneurs.

[natrius]

Debit cards cost half of what credit cards do. Bitcoin will be at least that cheap. Miners will be compensated plenty by mining rewards for the foreseeable future. Bitcoin service providers will charge fees that they don't today, but the competition that now exists will drive those fees as low as possible.