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Coyster

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'Life's but a walking shadow'!

Quote from: Mahiyammahi on December 09, 2021, 05:01:53 AM

There's still majority people won't believe in bitcoin or they don't know the usefulness of it.

I second that, and I think it's cause of the propaganda and erroneous information the media spreads about Bitcoin, most of this anti-Bitcoin news are sponsored by the government in a bid to discourage people from using Bitcoin so they don't get control of their funds, as we all know the government would stop at nothing to make sure people use their CBDC's instead of Bitcoin, and that's cause they can control their central bank digital currencies, but they have no control whatsoever over Bitcoin.

Quote from: leverageguy on December 09, 2021, 02:17:42 AM

I think it’s safe and secure to keep my money in my wallet even when I am not using it.

Yes it is, so long as it's a non-custodial wallet, if you use a custodial wallet to store your coins, then you're making a big mistake cause you're not the one with the keys to your funds, and by extension the funds isn't yours, the exchange/third party service can be hacked and you'll lose your funds, so always do your research before choosing a particular wallet, and never forget the rule of thumb that says you should never share your seed phrase with any other person.

Rahman11

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A bitcoin payment gateway allows merchants to accept transactions in bitcoin. These days, most of these payment processors facilitate the buying and selling of many other altcoins such as Ethereum, Litecoin, Ripple, and Bitcoin Cash too.

ChiBitCTy

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Exactly right and the whole point of bitcoin and what Satoshi himself wanted to achieve, independence from fiat money and its government overlords. Bitcoin still has its issues and some things it needs to clean up but it’s certainly on its way.

michellee

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Quote from: Wexnident on December 07, 2021, 12:08:19 AM

Quote from: Wiwo on December 05, 2021, 04:51:27 AM

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

But most of the transactions built up as of yet are governed still by third parties due to the existence of exchanges and custodial wallets. I don't blame them though, most people want the ease of access and qol stuff so having all this centralized stuff helps make stuff easier if you don't want to learn or do anything BUT it does defeat the existence of using Bitcoin for what it is. Maybe when Bitcoin is seen as a currency by most then it would be possible, but right now? It's mostly seen as an investment tbh.

Bitcoin is now growing from the investment side to become a payment system, but with the fee that seems too high, bitcoin is still seen as an investment. But yes, I agree that bitcoin is the perfect payment gateway to send funds across borders and the funds will arrive at that person in a short time. But unfortunately, the government side does not fully agree with bitcoin and it seems they want to limit the use of bitcoin for their people. Sooner or later, people will realize the easiness of bitcoin and try to use bitcoin for transactions.

Mahiyammahi

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Well this a very suitable proposal. But to do this this should've be done by big organization or government to aware their all people to know about this type of methode.

There's still majority people won't believe in bitcoin or they don't know the usefulness of it.

I think your proposal can be made true in future

so98nn

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Quote from: Oshosondy on December 05, 2021, 04:57:00 AM

But just that people are ignorant of many things, bitcoin was created to make peer to peer transaction possible and also a decentralized means of exchange but most people nowadays are going for custodial wallets and exchanges not minding their privacy. It was a great work done by Satoshi and other developer involved but most people are fools of scam and ignorant of privacy invasion. They are relying on custodial wallets and exchanges instead to have the knowledge about bitcoin and how to have the privacy needed.

Exactlyy! That has happened since couple of years. After all this is business and everyone is trying to ease peeps around here and making them think that there wider usage for the bitcoin or even other altcoins. Since human is a greedy species and they like to see profits and also have sense of being part of something great they will fall for such traps. No wonder slowly we also need to switch to such wallets for the sake of safety and security of funds. Not for the concerns arising from privacy but to save the coins from brutal hacks. As the time is passing ahead many peeps are getting stronger in hacking side rather than development of bitcoin. As if they are trying to prove something and wanna show how bitcoin is not as great as we think.
Well I dont wanna go deeper on that side but there are reasons for this to happen over the period of years. We have to change as the world reacts!

leverageguy

newbie

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Bitcoin works great for me too. It saves me time on transactions when I have to make bigger payments. As no third party is involved, I think it’s safe and secure to keep my money in my wallet even when I am not using it.

TheGreatPython

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Quote from: Wiwo on December 05, 2021, 04:51:27 AM

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

Yes you are right about that, but we still have all those third parties (middle men) around in the crypto currency space today. They have looked for ways to penetrate into the decentralized platform of Bitcoin and other cryptocurrencies. And of course what I am referring to are the centralized exchanges and custodial wallets.

These wallets are still the same middle men that we are all trying to avoid, the same middlemen which are the purpose that Satoshi Nakamoto created Bitcoin, So that we would be able to do our transactions without them. Another problem is that people are being too ignorant of issues like this. Some of them say that they don’t care about privacy, so they are making use of custodial wallets which is against what Bitcoin is all about.

josephdd1

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Quote from: Wiwo on December 05, 2021, 04:51:27 AM

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

One of the main idea of creating cryptocurrency was that banks and other intermediates will be excluded and people will get an opportunity to transfer any sum of money to any country or a person they want, so Bitcoin is the best option if you need to send money to other countries as you don't need to make a report to bank on what the reason for this transaction and where you took money frm.

Wexnident

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I don't take loans, ask for sig if I ever do.

Quote from: Wiwo on December 05, 2021, 04:51:27 AM

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

But most of the transactions built up as of yet are governed still by third parties due to the existence of exchanges and custodial wallets. I don't blame them though, most people want the ease of access and qol stuff so having all this centralized stuff helps make stuff easier if you don't want to learn or do anything BUT it does defeat the existence of using Bitcoin for what it is. Maybe when Bitcoin is seen as a currency by most then it would be possible, but right now? It's mostly seen as an investment tbh.

Marykeller

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Quote from: Wiwo on December 05, 2021, 04:51:27 AM

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

The anonymous nature of bitcoin is the main reason why I fall more in love with it. You can store up your whole assets in the comfort of your home without involving or letting anyone know. Bitcoin is a transaction made easy globally(not widely accepted anyway) with a tap of your finger(gadget).
Am beginning to like the fact that people are gradually understanding the benefits of using digital currency in their daily lives

hatshepsut93

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Quote from: Wiwo on December 05, 2021, 04:51:27 AM

Bitcoin has destroyed the rule of the third party

You truly believe in that? Everyone in the world is still using banks and centralized payment systems. Bitcoin and even all cryptocurrencies together represent an immesurably small share of daily transactions of the world.

Quote from: Wiwo on December 05, 2021, 04:51:27 AM

Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

If Bitcoin was perfect, it would have been used way more. Try to answer yourself, why are companies and businesses not rushing to use it for "flexible payments across borders".

BlackHatCoiner

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Farewell, Leo

Quote from: franky1 on December 06, 2021, 04:01:35 PM

these naive users still want to pretend its "bitcoin" even when its a different network, a non blockchain network and where the units of measure are not even understood by the bitcoin network.

If you're referring to the lightning network, then you'll find me disagreed.

The network may be different, but the units are the same. Yes, beyond the 1 sat, the bitcoin network does not understand and it's foolish to say that you transact bitcoins (since it's only a promise), but prior that, it's real bitcoins. You transfer signed transactions that are normally accepted by the bitcoin network and, alongside, partake in a game theory where you're discouraged to broadcast any other than the latest transaction that is made.

stadus

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That's why it's called decentralized, but without a 3rd party in reality our transactions would be limited as bitcoin is still not widely accepted for our daily transactions, we still need fiat to buy kinds of stuff, so exchanges are necessary to convert bitcoin to fiat and vice versa.

If the time comes that there's massive adoption, then probably we can just directly buy to merchants using bitcoin and hopefully it would be instant, no much waiting time to confirm.

franky1

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Quote from: BlackHatCoiner on December 05, 2021, 05:30:15 AM

Quote from: Wiwo on December 05, 2021, 04:51:27 AM

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

to add to this,
many businesses want to be custodial partner hubs. getting users to lock funds up into co-signed contracts where the user requires the consent and signature of their contracted partner to authorise fund movements.
one step down from that. they then want to use an alternative networks that has no blockchain or consensus to allow micropayments, which by their very nature does not have the same security as blockchains.

these naive users still want to pretend its "bitcoin" even when its a different network, a non blockchain network and where the units of measure are not even understood by the bitcoin network.

try to be very risk aware and cautious of people that promote these other networks as 'bitcoin'. and try to correct such people when they overhype their non blockchain offerings as 'bitcoin'

Wiwo

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Quote from: romero121 on December 06, 2021, 05:16:22 AM

People and corporate networks are used to custodial wallet usage for different reasons. For that reason, companies and individuals find it difficult to move to decentralized usage in a short time. With centralized/third-party service, if there arises an issue the support team will be questioned and the issue gets solved. Maybe a better understanding will lead people towards the decentralized network.

Start-up companies that accept decentralized payment systems using the blockchain technology will still retain its faint payment system, the bitcoin payment gateway gives access to a global payment system that does not allow the third party centralized payment

aysg76

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Quote from: pooya87 on December 06, 2021, 05:19:40 AM

Most of them use payment processors such as Bitpay and Coinbase and most of them don't actually receive any bitcoins but they receive the fiat equivalent of it. In other words the reasons why they do it is not because they want someone else to control their money but because they want to receive fiat not bitcoin which is because of its volatile price and the fear they have of sudden dumps.

These merchants accepts bitcoin payments through these payments processors who convert them directly to the legal cash of their country and it's ok as these traders need cash to run the business and Bitcoin is not widely accepted at the moment but they accept to have more customer base as this is the latest trends and both the parties are satisfied like customer pays with btc and the vendor gets fiat for the same.But they can also hold btc in their wallet and earn more profits over it as the main aim of btc is payment processing apart from asset and they don't need to fear it and hold it instead but with time they might become aware about it.

Rest you have nice avatar for you which shows Btc at discount for December and those who can understand it will have bright future ahead.These discounts will be rare to see when you will be buying sats only with few dollars. Wink

pooya87

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Quote from: BlackHatCoiner on December 05, 2021, 05:30:15 AM

Quote from: Wiwo on December 05, 2021, 04:51:27 AM

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

Most of them use payment processors such as Bitpay and Coinbase and most of them don't actually receive any bitcoins but they receive the fiat equivalent of it. In other words the reasons why they do it is not because they want someone else to control their money but because they want to receive fiat not bitcoin which is because of its volatile price and the fear they have of sudden dumps.

romero121

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People and corporate networks are used to the custodial wallet usage for different reasons. For that reason the companies and individuals find it difficult to move to a decentralised usage in a short time. With centralized/third party service, if there arises an issue the support team will be questioned and the issue gets solved. Maybe the better understanding will lead people towards the decentralised network.

Alisha-k

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The fact that it takes less time for a transaction to be approved is one thing I've come to like most about Bitcoin, asides the time, the service charges as well are on the lower side and unlike our banking system, its less stressful and doesn't require for a third party.

Topic: Bitcoin The Ultimate access (Read 187 times)