Topic: Bitcoin is even beneficial to people not using it. ;-> (Read 829 times)
That's the beauty of it. Banks and the traditional had so many loopholes to trick the customers and finally a finance system is compensating those mistakes and providing a better financial network.
Competition is a motor of progress, I don't deny it. But I still think that many of these payment methods have no chance of success. It seems that every major company on the market want to create their own system just to earn more money. Google, Apple, Microsoft, VISA, PayPal all these companies could just share tech and improve Bitcoin. But that will never happen, greed is too strong.
These companies would most probably never use the blockchain, but rather their own in house developed technology. This would be for several reasons :
1. Pride {They would not acknowledge the fact that a competing technology had to be used to save them from being disrupted}
2. Security {They would not trust any technology, where they do not have full control over the development}
3. Regulations {Most of these companies play by the rules of the governments - Reporting to them and adhering to their regulations}
4. Speed {Some of these companies have a much higher tx/s rate and would not downgrade to something slower}
These are just some of the issues.
Competition is a motor of progress, I don't deny it. But I still think that many of these payment methods have no chance of success. It seems that every major company on the market want to create their own system just to earn more money. Google, Apple, Microsoft, VISA, PayPal all these companies could just share tech and improve Bitcoin. But that will never happen, greed is too strong.
i must have misread?
https://www.youtube.com/watch?v=c1nc9dD9uXQ
the whole sector is inspired by it. maybe inspiration is the wrong word, they are definetely under pressure
https://www.youtube.com/watch?v=c1nc9dD9uXQ
the whole sector is inspired by it. maybe inspiration is the wrong word, they are definetely under pressure
Its one of the biggest challenge to bitcoin as well. Before people hear about bitcoin ,they hear about all these things like google wallet or apply pay .
At the end I am guessing all the banks and other financialservices will have adapted bitcoin features but bitcoin will still be the only currency(if its considered to be one) that would reamin decentralized and its hard to get people to realize that.
At the end I am guessing all the banks and other financialservices will have adapted bitcoin features but bitcoin will still be the only currency(if its considered to be one) that would reamin decentralized and its hard to get people to realize that.
At least bitcoin became a part of the innovation in the financial scene. If bitcoin didn't set the example and lead the way, do you think different financial institutions would bother to lower their fees and improve their services to people? I think not.
Its one of the biggest challenge to bitcoin as well. Before people hear about bitcoin ,they hear about all these things like google wallet or apply pay .
At the end I am guessing all the banks and other financialservices will have adapted bitcoin features but bitcoin will still be the only currency(if its considered to be one) that would reamin decentralized and its hard to get people to realize that.
At the end I am guessing all the banks and other financialservices will have adapted bitcoin features but bitcoin will still be the only currency(if its considered to be one) that would reamin decentralized and its hard to get people to realize that.
Although Bitcoin might have influenced all these new payment methods (such as Google Wallet and Apple Pay), I think there was something that gave a bigger impulse to these technologies: the NFC chip.
Most of these new payment systems have contactless payment methods (Bitcoin can have it too), but none of them are based on a digital currency with a distributed, consensus based network. Therefore I think NFC plays a bigger role. But definitely Bitcoin pays a nice role too
Most of these new payment systems have contactless payment methods (Bitcoin can have it too), but none of them are based on a digital currency with a distributed, consensus based network. Therefore I think NFC plays a bigger role. But definitely Bitcoin pays a nice role too
I have long realized that bitcoin made a large impact on the payment processing systems and financial schemes, especially the fast transactions and low fees. As more and more people rely on the internet to do their spending and shopping, more and more consumers seek for a better alternative to a credit card to facilitate their payment. Bitcoin posed a good standing in there when it comes to speed and fees. Because of bitcoin, other payment processing giants changed their system into a much more faster (?) and lower fees (?). Bitcoin forced that, no doubt, seeing that it is a threat to the modern payment processing and modern banking and money transfer system.
At lease some of this major creditors and centralize payment systems are innovating because of bitcoin they still have the complete fraud system that takes place from stolen identities and credit card information to cover.
So in summary, even if you are not a huge supporter of crypto currencies or decentralized P2P payment methods, you should consider the impact it has on change.
After all, it does give you a alternative option and the freedom to choose.
Let's give Bitcoin the credit it deserve, as a facilitator for change.
Yep totally, its like the same with the file sharing sites bring down the cost of media in general. Things like youtube offering you free music to play anytime you want and its not blocked. Who knows how far bitcoin could push traditional systems. Imagine things as vital as mortgages which currently crush people in debt for most of their life, bitcoin could change the housing market and its not the connection you immediately make.
when there is strong competition from something new , certainly those who feel at risk begins to sharpen his weapons , and it is this that banks and credit cards are doing , they are scared
Some NEW payment methods like :
•MasterPass
•VISA Checkout
•Apple Pay
•Google Wallet
•MTN Mobile Money
•Avuba
•MasterPass
•VISA Checkout
•Apple Pay
•Google Wallet
•MTN Mobile Money
•Avuba
Alls depends of a plastic card sell by a bank.
plastic card depend of an account in a bank.
done.
Bitcoin is HELL better than that ... in any situation !
its not just a payment option its a whole new industry i can count thousands of new business got started just because of bitcoins alot of exchange and dise and facuts and blogs and shopping etc alot of opportunities for people to start new business earn money, if before i was earning 1000$ a month now i am earning 1000$ + 1 BTC a month which make alot of difference
yes, I often said that to people already, after ages of stagnation, the competition of Bitcoin forces the dinosaurs to innovate, especially to lower fees and make transactions faster.
it can be considered as a fact that the competition raised by bitcoin has forced the others to enhance their system
but i'm not here to looking at bitcoin only as an alternative, i want it to suppress the others payment system, or at least be much more of a threat to them
but i'm not here to looking at bitcoin only as an alternative, i want it to suppress the others payment system, or at least be much more of a threat to them
Have the other new payment methods got inspiration from Bitcoin? What does the bitcoin bring to the people who are not using it? I don't think this could inspire the ones to use Bitcoins. How could we find more effective way to make more people begin to use Bitcoin?
Have the other new payment methods got inspiration from Bitcoin?
I already explained it in the original post.
What does the bitcoin bring to the people who are not using it?
They get the benefit of NEW innovation and NEW payment methods being introduced to the consumers. Bitcoin created a competing technology, forcing the other financial institutions to adapt to this change. If they do not adapt, they will loose market share.
I don't think this could inspire the ones to use Bitcoins.
If these traditional banking institutions did not improve or change their technology or business models, people would have left and joined Bitcoin for the better features.
How could we find more effective way to make more people begin to use Bitcoin?
By being an example to others. If you brag about the improved features of Bitcoin, others will follow your example. Let's take the Greek situation.... Ask them this question... What will you do, if your government or banks block your access to your money in the bank, like they did in Greece? {Your solution : Use Bitcoin.. It's not centralized and only you have full control over your money... Nobody has your private key.. Or should I rather say... They should not have it.}
Have the other new payment methods got inspiration from Bitcoin? What does the bitcoin bring to the people who are not using it? I don't think this could inspire the ones to use Bitcoins. How could we find more effective way to make more people begin to use Bitcoin?
Many people do not make the direct connection, but once you put 2 and 2 together, you find the bigger picture.
Bitcoin has forced change :
Since Bitcoin has become more popular, we have seen a lot of new innovative changes being developed in the traditional financial system.
Some NEW payment methods like :
•MasterPass
•VISA Checkout
•Apple Pay
•Google Wallet
•MTN Mobile Money
•Avuba
And a lot more innovative alternatives comes to mind...
Did Bitcoin facilitate this change or did we force this change? My money says, we helped it's early release.
Indirectly Bitcoin has open the door to many competing online and mobile payment methods.
The traditional banking system has to keep up, with the changing needs of the global online world and the internet of things.
You will also soon see loyalty scheme's being implemented to attract customers to certain payment methods.
So in summary, even if you are not a huge supporter of crypto currencies or decentralized P2P payment methods, you should consider the impact it has on change.
After all, it does give you a alternative option and the freedom to choose.
Let's give Bitcoin the credit it deserve, as a facilitator for change.
Bitcoin has forced change :
Since Bitcoin has become more popular, we have seen a lot of new innovative changes being developed in the traditional financial system.
Some NEW payment methods like :
•MasterPass
•VISA Checkout
•Apple Pay
•Google Wallet
•MTN Mobile Money
•Avuba
And a lot more innovative alternatives comes to mind...
Did Bitcoin facilitate this change or did we force this change? My money says, we helped it's early release.
Indirectly Bitcoin has open the door to many competing online and mobile payment methods.
The traditional banking system has to keep up, with the changing needs of the global online world and the internet of things.
You will also soon see loyalty scheme's being implemented to attract customers to certain payment methods.
So in summary, even if you are not a huge supporter of crypto currencies or decentralized P2P payment methods, you should consider the impact it has on change.
After all, it does give you a alternative option and the freedom to choose.
Let's give Bitcoin the credit it deserve, as a facilitator for change.
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