Bitcoin as payment system - page 39.

ronypro

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Quote from: aleksandra_kickcity on December 04, 2017, 05:34:43 AM

We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model.

How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day? Undecided

And how do you see it's future?

Untill segwit and lightning network come up and implemented in mass .bitcoin will struggle.
After that we can see a drastic change in value as well as in use.
I am keeping my faith with bitcoin,if its a bubble and pop up just because its transaction fees are high right now.
Every other crypto is bubble also the blockchain technology will be bubble if btc turnout to be bubble.
no one will survive for sure.

tatnM

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I think bitcoin, for its slowness the transaction and high cost is not beneficial to use. To that, now appeared a lot of alternative crypto-currencies, in which transactions are much cheaper and faster. Bitcoin is simply the first because he is the leader. until the leader.

yoseph

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Quote from: readygoaw on January 12, 2018, 04:52:38 PM

Bitcoin is not a payment system in the full meaning of the word, but the blockchain technology on which it is based and which it develops is already widely used in financial transactions. Bitcoin should be incorporated in bank system inevitably.

As long as retailers are accepting it as a means of payment then we could say that it is indeed a payment method but we can't label it as a payment system because it is more than that.

adpinbr

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It much easier that we pay through online since its less hassle and its very secure since you can have to go to any bayad centers just to pay your bill first of all you can save more time at the same time you can have bonding to your family. You can be a great provider at the same time you can have more time to your family.

tabas

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Quote from: Marileno on January 13, 2018, 08:01:38 AM

BTc will fail as a payment system due to :

1. Transaction costs are way too high
2. transaction confirmation speeds are way too slow.

It can't be used now as a payment system. I have to agree with what you say that bitcoin will fail as payment system and it will also not a good coin to use for paying things that we have purchased. Bitcoin now is good for storing value and as an asset that is digital.

Marileno

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BTc will fail as a payment system due to :

1. Transaction costs are way too high
2. transaction confirmation speeds are way too slow.

It really is as simple as that people. Unless they solve these 2 points, you can forget about it as a payment system. Other crypto's are faster and cheaper while cash is free and instant.

RKSummer

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Quote from: aleksej996 on December 04, 2017, 05:48:38 AM

I think Bitcoin will prevail as a payment method. A lot of people are focusing on Bitcoin price, but Bitcoin is still a good technology. It is the best system out there for payment transactions and store of value (in other words, currency).

You don't need to register, you just need a secret number to receive bitcoins. A lot easier then other payment methods.
You own your money and no government can take it from you with inflation or a failure of banks.
It is decentralized and open source, so it is secure and private. Security of every Bitcoin transaction is independent and of each other and at highest level.
In other payment methods, you hack one entity and you hacked all their users. (Paypal just had a breach this Friday).

It is simply objectively the best. Fairest, fastest, easiest to use, private and most secure. It isn't just the best, it is 10 times better then anything out there.

Bitcoin as a payment system, In my opinion, the one who benefited most is the trader. In this kind of payment system, the sender is the one who pays the processing fees while the trader paids nothing.
It allows you to purchase items abroad fast and easy without currency conversion.
And I think that in this system, users of bitcoin can conviniently pay any bills just by clicking. You can save money and time at the same time.
I like the idea.

Luthfiyaaa

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Quote from: aleksandra_kickcity on December 04, 2017, 05:34:43 AM

We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model.

How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day? Undecided

And how do you see it's future?

indeed one of the benefits of bitcoin is as a means of payment, but I prefer to use bitcoin for investment, I see the longer it will continue to increase its price, maybe in the future, bitcoin is the legal means of payment in this world.

LogitechMouse

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Bitcoin as a payment system? No its not a good idea for me. We know already that bitcoin at this moment have the highest transaction fees and it has a slow transaction speed yet we are asking this question. It will happen only if lightning network is release (maybe) and instead of bitcoin, why don't you use other altcoins with high transaction speed like litecoin, dogecoin etc.

barabut

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As a payment system there is alternatives on the way though! but it is perfect as a payment system no intermediary, low cost!? (not nowadays, few amount transactions for sure) can not be censored, blocked decentralized.

Joshapat

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The presence of bitcoin for the payment system is indeed a good solution to overcome the deficiencies and dependence of previous payment systems such as paypal or banks, this is certainly bringing a good change in the future.

adadaorlina

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This is a good idea for all of us that bitcoin as a mode of payment system as well as a store of value. I am very sure that it is safe to transact because no mode of transportation is use specially if the transaction is all about large amount of money. A lot of people believes that in the future every people will be coping with the advancements of technologies.

arlington

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at the moment to use btc for payment wouldn`t be a wise selection as it has high transaction fees and long time to transfer but in the future things can change.

PUNjabSee

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yes, I think bitcion will be more stable in 2018, the matter of being a means of payment is not fully and fully realized, only certain countries that accept and legalize bitcoin, I think with this very fast technological developments in a short time bitcoin will be able to be the best . I am sure that every government institution up to now in every country continues to review and evaluate bitcoin to serve its people who have already joined bitcoin, so that a short time bitcoin will equally become a means of payment in various countries legally. let alone now in the global economic market.

readygoaw

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Bitcoin is not a payment system in the full meaning of the word, but the blockchain technology on which it is based and which it develops is already widely used in financial transactions. Bitcoin should be incorporated in bank system inevitably.

lani123lani

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Bitcoin for official pay is not possible or for everyday payments, bitcoin is more like gold or a high barley asset and can last for a long time, I prefer to consider bitcoin as a gold investment much larger than gold.

lenarichi

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The ambiguous attitude to Bitkoyn payment system is connected with the fact that the currency develops spontaneously and is not controlled by any law. It does not have a single control center, it is not tied to any country and can store confidentiality in the network of its owner. Crypto currency is not stored in banks and does not have any material values, it can be used from any corner of the world. No one will close access to his bitcoin-wallet and will not force him to prove that this wallet belongs to you. This gives unlimited opportunities for transfers and transactions in the crypto currency and the full will of its owner. Commission fees for transfers are also not charged.

altcointalk14

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Quote from: rancidgash on January 12, 2018, 12:01:08 PM

Quote from: Spanopohlo on January 12, 2018, 11:19:10 AM

For our Country its still far from accepting BTC as means of payment in the markt or businesses, they are still relying on fiat money because it is easier to use and you can hold on to it. Using BTC as means of transaction is good, because of security and and reliable transaction also in buy and sell. I think it will blow up someday but it is still far from blowing up, and by the time it blows up another currency will emerge to replace it.

I would say that this is a means of exchange and a payment system at the same time.the payment system has no value, and the units outside the system also have no value. If the system is not working properly, the units become useless. But both things, if they work together, do something meaningfully.

Criptocurrency are actually the first decentralized payment system in the world on whose arteries a payment is circulating, which is totally immune to influence through classic state or monetary policies.

Dr.Osh

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Quote from: ELEL_ELEL on January 12, 2018, 10:21:12 AM

Quote from: aleksandra_kickcity on December 04, 2017, 05:34:43 AM

We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model.

How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day? Undecided

And how do you see it's future?

Maybe it's more convenient to us that bitcoin is for all electronics payments.This is more easier to use to any payments transaction.And no need to go to money changer.l think this is more easy because you can just pay or buy anytime you want.

I think that it can not be done. well, we know for ourselves that the bitcoin system is so unstable, so before the bitcoin system was stable, I felt that it was still very difficult to make it a real-world payment instrument. but on the internet, there are many who do that.

rancidgash

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Quote from: Spanopohlo on January 12, 2018, 11:19:10 AM

For our Country its still far from accepting BTC as means of payment in the markt or businesses, they are still relying on fiat money because it is easier to use and you can hold on to it. Using BTC as means of transaction is good, because of security and and reliable transaction also in buy and sell. I think it will blow up someday but it is still far from blowing up, and by the time it blows up another currency will emerge to replace it.

I would say that this is a means of exchange and a payment system at the same time.the payment system has no value, and the units outside the system also have no value. If the system is not working properly, the units become useless. But both things, if they work together, do something meaningfully.

Topic: Bitcoin as payment system - page 39. (Read 6073 times)