I think the original Bitcoin paper said it well: "small casual payments."
To pay online right now, you have to decide:
1) do I trust this vendor
2) do I want to fill out this form with all my info
Generally this (plus transaction fees) only make sense for transactions above $10.
The vendor responds by trying to build a relationship with you- by building brand trust and by pushing you toward an ongoing relationship (recurring payments, creating an account etc). This is why "cards on file" is considered a major business asset online.
As a result, any online service that doesn't make the cut is forced to resort to an advertising based business model.
> I think the original Bitcoin paper said it well: "small casual payments."
You can see this with the tipping culture on Reddit. It's helped Dogecoin really take off, because it's pretty trivial to send a small, casual payment to someone.
To pay online right now, you have to decide: 1) do I trust this vendor 2) do I want to fill out this form with all my info
Generally this (plus transaction fees) only make sense for transactions above $10.
The vendor responds by trying to build a relationship with you- by building brand trust and by pushing you toward an ongoing relationship (recurring payments, creating an account etc). This is why "cards on file" is considered a major business asset online.
As a result, any online service that doesn't make the cut is forced to resort to an advertising based business model.