bitcoin and online transctions - page 3.

boyptc

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Quote from: cryptopher1 on April 27, 2019, 08:26:38 AM

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

We are already in the digital age and I think that 10% for all of retail transactions online seems to be low.

Look at the e-commerce business and other payments held online. This percentage seems to be low, I don't know the real stats but 10% truly is low for me.

Beerwizzard

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Quote from: cryptopher1 on April 27, 2019, 08:26:38 AM

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

No it is not. First of all 10% looks like a wrong number but even if it is true then it doesn't tell us that people perform only 10% of trandsctions online because os lack of payment methods. Bringing to the market a new payment system like LN you are competing only with those systems that people use only for these 10% of transactions and not the other 90%

cryptopher1

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Quote from: hatshepsut93 on April 27, 2019, 08:46:08 AM

Quote from: cryptopher1 on April 27, 2019, 08:26:38 AM

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

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.

i think you make a valid point. i've also seen methods such as wechat payments are very efficient, so do you think bitcoin should focus more on being SOV rather than payments?

hatshepsut93

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Quote from: cryptopher1 on April 27, 2019, 08:26:38 AM

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

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.

Haunebu

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What is the point if merchants don't adopt and provide crypto as a payment solution? Currently, very few merchants actually provide BTC as a mode of payment which needs to be increased with time by raising adoption of BTC in any legit way possible.

Everyone needs to contribute in their own way.

cryptopher1

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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

Topic: bitcoin and online transctions - page 3. (Read 408 times)