Topic: BTC payment only? - page 4. (Read 2388 times)
The main purpose of smart contract is to initiate and complete deal on a network without the influence of the third party and without the room for disapproval. Smart contract can serve many functions that varies from payment, voting system etc. BTC is for payment while smart contract serve so many other functions.
in my opinion such a possibility also exists. but also we can not be sure when it happens.
and also there is still no written certainty.
and also there is still no written certainty.
As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?
I think Bitcoin will lack on the thing about a payment system since the prices moves a lot everyday. But we can always find a good and different coin for that kind of role.
A smart contract is an agreement that can be enforced through a blockchain. One of the major design goals of the Ethereum platform was to support smart contracts. From the start, this set Ethereum apart from Bitcoin, which was created first and foremost as a digital currency platform. The Bitcoin blockchain is not known for its ability to enable smart contracts. In fact, most developers creating smart contracts use a different blockchain, like Ethereum
well your topic is very interesting but if that is happen they maybe some instance that it will be slight complicated with the others, however if its that happen what will happen to the other alt coin like ethereum and xrp and others.
I think btc is not a good option for payment for now sole because it is not still that stable.and with high trasaction fees
It is solely.more on payments as it is the only majoy path altcoins can be acquired. Sooner than later, this purpose would be defeated as projects that won't need bitcoin to acquire their assets are coming up gradually.
As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?
BTC do transaction not only for payment but also investment, all i can say that BITCOIN was accepted in the Philippines as payment and as investment for those who earn profit for joining any campaign.
It can be used as payment for different online stores but I do not try to used it on offline stores to pay because the price is unstable and rather used it as an asset. I keep it and wait for good time to have good price and get more expensive, I also earn from campaigns to add for the amount of holdings.
BTC do transaction not only for payment but also investment, all i can say that BITCOIN was accepted in the Philippines as payment and as investment for those who earn profit for joining any campaign.
BTC is actually not very practical for payments and transactions for 2 reasons :
* High transaction costs
* Slow confirmation times
Yes absolutely right! but if you and merchants can use coinbase then it's going to easy and super fast.* High transaction costs
* Slow confirmation times
Just to elaborate more on the subject, high transaction costs are mainly due to miners when they confirm transactions under the blockchain technology. The reward that they receive in return for confirming such transactions are relative to the amount of bitcoins they confirmed. Even in the transaction speed, they both posses a direct-proportional relationship between the amount being confirmed and the time being processes. Not to mention, its high volatility makes it a risk for both the consumer and the producer in purchasing products.
What most individuals fail to realize and maximize is the use of bitcoin beyond from the investment perspective. Since it utilizes the blockchain technology as its platform, they tend to take for granted the security granted by it since no one can tamper, alter, or change the information under the blockchain since it is being monitored by a network of computers. Hopefully, the government and some establishments may utilize bitcoin as a payment once they solve the aforementioned problems.
Bitcoin is form not only for using it as payment, it can also use for investment. But the main purpose of it is by helping us to have a much easiest, fastest and much convenient way of doing or making transactions.
It will remain a useful investment tool and comes with such a global payment facility. Will Bitcoin in the future appear in grocery stores?
A smart contract on which Blockchain? As far as I know, the smart contract allows developers to create a market, give instructions to move funds and many other things without a middleman/Counterparty risk, I never imagined a smart contract could get adoption like Bitcoin as payments, but everything is possible when talking about the future
Payment system or to b place for investment and trading is depend on someone who have bitcoin, because bitcoin can be used both. But for now about 70% bitcoin is used by its users as a place to earn money and only 30% is used for payment systems. The reason is that bitcoin has not been accepted by the whole country and some even call it illegal but that bitcoin price change so fast will make all users think more to use it.
In the beginning when Bitcoin was introduced, everyone was talking about the multi-function coin, which can be used as a currency and a commodity and also for smart contracts. The smart contract thing never really took off and other coins like Ethereum focussed their development to specialize in that and it basically because the default platform for smart contracts.
I am not saying Bitcoin cannot be used for that, but there are better coins out there now, which might be better suited for that.
I am not saying Bitcoin cannot be used for that, but there are better coins out there now, which might be better suited for that.
As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?
It is not difficult to put a smart contract into bitcoin, which is important to the community of bitcoin users. Bitcoin is the oldest and largest ecosystem in existence and is being developed to be able to trade more quickly and with less transaction costs. In the future it may become a valuable storage medium such as cryptocurrency gold.
It will remain a useful investment tool and comes with such a global payment facility. Will Bitcoin in the future appear in grocery stores?
I think we will be able to use smart souvenirs in the future.
Thank you all for your inputs, i'm learning more and more 
As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?
It isn't something that is impossible to do in terms of technicality but if you take into consideration all the current issues of bitcoins today, it would be hard as fuck to use it as a Smart Contract-like coin that you are saying. It just can't work as long as these issues that bitcoin has or drawbacks like waiting time for confirmations and high fee transactions.
I think bitcoin is only suitable for paying large amounts of money because the bitcoin value is quite high. It is difficult to buy a bottle of water that you use bitcoin to pay
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