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Topic: bitcoin and online transctions (Read 408 times)
I don't have an idea if my local crypto wallet uses LN as their payment channel, they haven't stated anything in FAQs but it seems systematized now on how large their coverage is when it comes to BTC payment. I can buy game credits by using Bitcoin. I think the volatility behavior is being managed through conversion of BTC to local currency immediately to avoid potential losses. It seems to stabilize a lot these days so it won't be a problem for them to lose even cents .
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I don't have an idea if my local crypto wallet uses LN as their payment channel, they haven't stated anything in FAQs but it seems systematized now on how large their coverage is when it comes to BTC payment. I can buy game credits by using Bitcoin. I think the volatility behavior is being managed through conversion of BTC to local currency immediately to avoid potential losses. It seems to stabilize a lot these days so it won't be a problem for them to lose even cents .
.While there is not a great adoption, Bitcoin is more in the middle online like online purchases of a general way
LN is still on its developing process. Online transactions aren't implemented in most numbers of merchants because they still prefer to accept fiat since most customers are still into their local currency. When the massive adoption happens online transactions will increase into a huge number.
With the existence of more centralized online payment sources the competence level have gone a level high and this has made for more service access with reduced fee than the cryptocurrency.
we are now in the future and blockchain tecnology or being decentralized is now the new trend . people are now going for this . they are now building dectralized projects over the centralized ones because being decentralized has more benefits . cryptos have a less fees compare to other centalized payment method out there . not to mention the tax that you can incure on a centralized store or a centralized payment system .
With the existence of more centralized online payment sources the competence level have gone a level high and this has made for more service access with reduced fee than the cryptocurrency. People who find the good in cryptocurrency as well wants to stay anonymous make use of the decentralized functioning blockchain backed cryptocurrencies.
I guess that it's not about the percentage, but it's about how cryptocurrency being accepted by the merchant. I think that statistical is not the right number because we never know how many of them.
But if that 10% is right, then I think that is great since we can reach that number so far and I am sure that the number will increase in the future.
Cryptocurrency soon will reach more merchant, and they will use cryptocurrency especially bitcoin as the next new payment method so people can use cryptocurrency to buy something.
But if that 10% is right, then I think that is great since we can reach that number so far and I am sure that the number will increase in the future.
Cryptocurrency soon will reach more merchant, and they will use cryptocurrency especially bitcoin as the next new payment method so people can use cryptocurrency to buy something.
Bitcoin merchants will be increasingly for a simple reason. The task of the seller to sell their goods. It doesn't matter if it is dollars, euros or bitcoins.
I guess that it's not about the percentage, but it's about how cryptocurrency being accepted by the merchant. I think that statistical is not the right number because we never know how many of them.
But if that 10% is right, then I think that is great since we can reach that number so far and I am sure that the number will increase in the future.
Cryptocurrency soon will reach more merchant, and they will use cryptocurrency especially bitcoin as the next new payment method so people can use cryptocurrency to buy something.
But if that 10% is right, then I think that is great since we can reach that number so far and I am sure that the number will increase in the future.
Cryptocurrency soon will reach more merchant, and they will use cryptocurrency especially bitcoin as the next new payment method so people can use cryptocurrency to buy something.
I don't think 10 percent is bad at all though. For a society that has been so used to making transactions face to face, that's already a good number considering that online payments just got the recognition it's meant to have just a few years ago. It' going to take bitcoin transactions bit longer since trust issues and fluctuation will take time to get over with.
I do not use my Bitcoin for online transaction because I do not use it as a payment method. I see my bitcoin holdings as an investment to HOLD for the future when I will make good profit. I believe many small Bitcoin holders behave like me.
Pretty sure the numbers are significantly higher than what was stated in your post, OP. In third-world countries alone, numbers are somewhat ramped up and even I pay things mostly through QR codes and online payment channels as long as I see the opportunity to. The retail market is growing fast, and so does online payment channels and merchants accepting such, so obviously 10% is kinda an outdated figure by now.
despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments
" Online shoppers in the United Kingdom make 87 percent of their retail purchases (grocery shopping not included) online. That's an increase of almost 9 percent compared to the situation last year, when 80 percent of retail purchases was conducted online." Source : https://ecommercenews.eu/87-of-uk-retail-purchases-made-online/
"In 2017, e-commerce sales accounted for 9 percent of all retail sales in United States, this figure is expected to reach 12.4 percent in 2020." Source : https://www.statista.com/statistics/379112/e-commerce-share-of-retail-sales-in-us/
OP, you have to be specific if you mention statistics on this forum. You also have to quote your source like I did to substantiate your claims or people will think that you just thumb suck statistics.
" In 2017, e-retail sales accounted for 10.2 percent of all retail sales worldwide. This figure is expected to reach 17.5 percent in 2021. Online shopping is one of the most popular online activities worldwide with global e-retail sales reaching 2.3 trillion U.S. dollars in 2017.
Source : https://www.statista.com/statistics/534123/e-commerce-share-of-retail-sales-worldwide/
As we are moving towards digitization rapidly and therefore, people are adopting online bitcoin transaction as an alternative option for the traditional mode of transaction. 
Why? Many online payment methods have very low fees, and many of them are nearly instant when you are dealing with small amounts. The biggest upside of Lightning compared to fiat is that it is private and users control their own funds, but at this age no one cares about that - billions of people allow companies like Google and Facebook to harvest their data as they please. LN won't change it, it may be a revolution for Bitcoin and crypto ecosystem, but it's not a revolution in financial world.
Well the thing is we cant avoid that Google and Facebook are providing some services in return and most of people still think that its worth it to trade those services with their data.People who think about it in different way or really want privacy are the minority in this world (rich people, experts, or even people who want to do something bad).
despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments
From my experience so far, the reason behind this result is lack of knowledge.Because they dont know about credit card and the advantages or about cryptocurrencies. Even sometime its because they dont understand about those things and just skip it.
So I think the cryptocurrency stage that should be for now is the education stage.
You need to give more time for people to adapt, online payment need credit card and some people not too comfortable to used it since there were a lot of case reported that their credit card security being breakthrough, but more and more shop now already implemented online payment, for crypto payment it will take more time because of tge legalisation issue, but we are more and more toward the digital era, we will see more online payment soon
This is due to the fact that online marketplaces do not yet accept bitcoin as a medium of payment for Good's and services.
Hopefully the adoption rate of bitcoin would be accelerated which would bring about an increase in the above percentage.
Hopefully the adoption rate of bitcoin would be accelerated which would bring about an increase in the above percentage.
It's not just accurate statistics, but it is currently being managed online. I think with the current time technology, now everything should be done online. And currently 50% of transactions are being online. 
despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments
That's because online payment that provided by banks and other company are charges too high fee. If we compare it with cash then cash is better because there is no fee on it except taxation. And other bad things is there are many germs on cash money so it's not really good for our health. But if we use bitcoin then we only need to pay small fee and we can send the money anywhere in this world. So bitcoin is very appropriate for this century.Their fees are high because customers have protection and are able to get refunds in most cases. If you want a refund with Bitcoin you are screwed. Also bitcoin fees aren't always low, during the last bull run people were paying VERY high fees.
despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments
People knows this so what do want to deliver your thread op, the n w technology still fast moving to improve and give opportunities to each everyone want to work at this field especially in crypto.
Bitcoins spendability on online transactions are so small compared to online transaction handled by banks.Bitcoin is not yet fully adopted as a currency for most merchants and if youll be comparing bitcoin vs online transaction fiats are all accepted as payment method for online deals while bitcoin is not yet accepted by most
So far, the use of Bitcoin for online transaction is still limited. This is constrained because many merchants who have not recognized and accepted Bitcoin as a valid and profitable payment. The price is volatile. So, there is a tendency for concerns about the profit or loss they might get. However, basically, this does not rule out the possibility that someday Bitcoin will be accepted at more merchants so that it will increase trust and value for Bitcoin.
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