BTC payment only? - page 5. | Bitcointalksearch.org

rext

full member

Activity: 378

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Quote from: hot_ads on March 18, 2018, 06:18:06 AM

BTC's last use should be as payment and investment, BTC as payment method, which can be more acceptable.

Bitcoin can be used to pay for the following benefits:
- Bitcoin makes trading happen fast
- Bitcoin trading at extremely low cost
- Confidential information can not be stolen using Bitcoin

darkangel

sr. member

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Quote from: Marileno on March 18, 2018, 04:21:17 AM

BTC is actually not very practical for payments and transactions for 2 reasons :

* High transaction costs
* Slow confirmation times

I think bitcoin is suitable for large payments. With Bitcoin you can conduct transactions all over the world extremely fast at extremely low cost, guaranteeing privacy and high security. Particularly, in addition to the purchase, you can also create your own Bitcoin thanks to a powerful enough computer.

ABCbits

legendary

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Crypto Swap Exchange

That depends on what community wants, but surely will disagree and say use altcoin for smart contract. But Bitcoin already have something similar , even though it's far more simple with limited usage and non-turing complete (which means not support complex smart contract).
Also, there are 2 better smart-contract proposal which are Simplicity and Ivy for Bitcoin, even though both aren't mean for complex smart-contract.

fatirborju

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Yes I think bitcoin is great for payment tools like bills, because it makes it easy for someone to invest and pay, but not all of our bills can use bitcoin like paying for school....

shahzadafzal

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Quote from: TomWilson32959 on March 12, 2018, 02:29:03 PM

As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?

Bitcoin is likea currency however smart-contract is a protocol intended to verify or facilitate a credible transactions or in more simple words agreement that can be enforced through a blockchain.

Bitcoin protocol can be used to create smart contracts. https://particl.io/ is doing this by using Bitcoin-based smart contracts to manage funds in their trustless escrow.

You can read some details here https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/

Quote from: Marileno on March 18, 2018, 04:21:17 AM

BTC is actually not very practical for payments and transactions for 2 reasons :

* High transaction costs
* Slow confirmation times

Bitcoin is still evolving multiple solutions are on the table already like SegWit, Sidecahins or Off-chain. We should give some time and best out of it will come yes these are the current issues but theseare solvable. Bitcoin community is working to hard address all these.

hot_ads

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BTC's last use should be as payment and investment, BTC as payment method, which can be more acceptable.

franky1

legendary

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Quote from: Rahman11 on March 18, 2018, 04:50:21 AM

Quote from: Marileno on March 18, 2018, 04:21:17 AM

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.

.. but if your using coinbase... then you back to using third party systems again... which negates the whole point and purpose of what bitcoin was suppose to be about

EG
if your just going to swap 'balances' within coinbases user database you might aswell just be using paypal.

funny part is that if coinbase/bitpay say that they can send a merchant a FIAT wire transfer the next day.. it just proves that the FIAT wire transfer only takes a day

the whole point of bitcoin was that merchants should directly accept bitcoin for their goods and then that merchant pays salaries and its suppliers in bitcoin the same day. without the need to put funds into an account/address/channel that requires another persons agreement/control/signature

just having bitcoin as a asset currency but rely on third party services as they payment method/gateway/route makes bitcoin no better than fiat as a currency. which then just reduces its utility to be just a asset

HoldtotheMoon_6789

newbie

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Most of DEV learn to code anything using smart contract such as a payment system Grin

Df9898

newbie

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I think if the payment entirely using bitcoin I think many problems later on so payment via bitcoin it seems to me if the payment through the bitcoin then cash no and the person who cannot do online transactions will confused and cause a loss as a lack of food and many more.

Rahman11

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Quote from: Marileno on March 18, 2018, 04:21:17 AM

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.

Marileno

full member

Activity: 215

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✔ Crypto portfolio | ✔ Telegram/APP

BTC is actually not very practical for payments and transactions for 2 reasons :

* High transaction costs
* Slow confirmation times

faker_lol

newbie

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I think more than 1 system Grin

Manoharachan

jr. member

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I also prefer to use bitcoin for transactions because in time as well as other things bitcoin has a better advantage, it's the one that makes the attraction for me.

Herbert2020

legendary

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smart contracts aren't really complicated things that requires some weird advanced or dedicated thing. it can already be done in bitcoin to some extent. but since bitcoin is a currency having things like what you see today in form of Smart Contracts is not really wise on bitcoin.

in any case there are works being done to add such features but as side chain (if i am not mistaken, or maybe second layer). long story short if you are interested in this check out RootStock www.rsk.co which is what i am talking about.

BTC_Kids

newbie

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Many many payment system using blockchain such as XLM(Stellar), XVG(Verge) and ...etc

TomWilson32959

newbie

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As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?

Topic: BTC payment only? - page 5. (Read 2356 times)