Author: Drak 2014-06-24 17:37:02
Published on: 2014-06-24T17:37:02+00:00
On June 24th, 2014, Mike Hearn suggested to Charlie Lee and Stephen Pair a minor BIP 70 extension on Bitcoin. The extension would allow wallets to show users how much they are saving by using Bitcoin instead of credit cards or bank payments. The extension would record the size in satoshis of any discount provided by the merchant because the user chose to pay using Bitcoin or other digital currencies. Other kinds of discounts, loyalty bonuses, and so on should not be recorded in this field, rather they could be mentioned in the memo field. Wallets would then be able to persist this data to disk and compete on cool visualisations for how much money you saved over time. The goal is to encourage people to use Bitcoin. We haven't formalised how to extend BIP 70 yet, but it's proposed to do that soon. In general, many businesses exploit the effect of showing the user how much they're saving by using Bitcoin instead of credit cards with loyalty points, etc.
Updated on: 2023-06-09T00:33:00.818951+00:00