Wednesday, 17 July 2013

Fancy a Coffee?

'Got to my desk this morning in dire need of a coffee, noted that our office supplies are running low and decided to do something about it.

A minute later I'd found bitcoffee on the web and roughly half a minute after that (I didn't count but it was quick!) the problem was sorted, with a few cans of the delicious illy inbound.

It still staggers me how easy bitcoin is to use. I simply placed my order, scanned the QR code Bitcoffee generated using my Blockchain e-wallet and Boom! Job done.

Seconds later I received 2 emails; the first confirmed my bitcoin had been transferred and the second was from Bitcoffee themselves, to tell me that my coffee was inbound.

The Bitcoffee site was super-easy to navigate, the process of placing my order was simplicity itself and the best news for me is that I wasn't required to divulge my banking details (with all the associated risks of identity theft) as a 'traditional' purchase would have necessitated.  I suspect Bitcoffee are happy too as by accepting bitcoin they have avoided merchant banking fees and the risk of the notorious 'charge-back'.

And that's another critical but often forgotten benefit of trading in bitcoin.  Both the merchant and I have entered into our transaction based on trust.  I understand that having paid 'in cash' I am unlikely to see that money again if the merchant chooses to defraud me, BUT the merchant also understands that if my coffee doesn't arrive I can just as quickly sully his reputation on a forum of my choice.  Since it's more than his business is worth to scam  a customer, we can both be confident in each other to hold up our ends of the transaction.

By the way, this brokering of trust between bitcoin merchants and their customers is something that BitScan are actively working to further embolden in weeks few, but we'll get back to you on that front soon enough.

In the meantime, Bitcoffee is indicative of the thousands of bitcoin businesses that are, daily, springing up around around the globe; all of them are enjoying 'early-mover' benefits to capture market share within a rapidly growing economy that leverages a decentralized currency tailor made for the internet.

So, if you live in Australia (or indeed, anywhere) and you appreciate great coffee (and we know that you do!...) we'd advise you to follow the link above. Cheers!

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