high fees and lengthy transaction processes make bitcoin less suitable as a payment system, especially for small purchase transactions.
I think a lot of other cryptocurrencies is more suitable as a payment system, because of the low fees and the speed of the transaction process.
Topic: Is bitcoin a better payment system? - page 19. (Read 2021 times)
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
It is really a much better payment system because you van literally send bitcoins all around the world so how convenient was that because with just a small fees or almost no fees at all you can now send money everywhere you ever wanted especially here in our country you can withdraw the bitcoins in a bank just like a credit card just like that but the thing is you do not have any card but just a code and you can now get money in that thing. And the bitcoins are very smooth not traffic issues and the government have nothing to fo with them so no taxes at all
In terms of payment system, bitcoin is definitely superior. I think, because of its digital nature, bitcoin is more efficient because it has no physical shape. And bitcoin is more universal, not a currency belonging to a country. Well, if only bitcoin is legal, maybe people will immediately switch to bitcoin.
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
Yes. Bitcoin is a better payment system. Some days ago if a person paying in the other country he goes to bank or other agency. For this reason he must pay a big amount. But if he or she pay with bitcoin it is easy and safe and it is low costly. So it is a better payment system. The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
Yes, it can be and i believe by using bitcoin in payment can reduce criminality in our society like robbery and hold up which is common nowadays. Using bitcoin as payment we don't need to go out in our home just to pay to our orders.
off course bitcoin is a good payment system and many online transaction can takes place with in seconds and this all possible due to bitcoin and other crypto bitcoin feature of online payment is easy and secure form and soon the online dealing which were dealing through dollars and other banks will be totally deal in crypto and i think it is the best way to become more advance the payment system through this currency. For me bitcoin is the better payment system.
Yes, I believe that Bitcoin is a better payment system as compared to that of the traditional payment system. Things are still in the development phase and there are many issues right now including high transaction fees and confirmation time which is a barrier to growth and mass adoption, especially for the microtransactions. I am optimistic about post 5 to 10 years pictures from now and you will see why Bitcoin and crypto are better than the traditional system.
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
With fiat money? no.
Considering the transaction fees, purchasing would cost a little more than the actual price. But you're right about it to be adopted by several companies to further broaden it's potential.
For many computer literate people the use of bitcoin for transaction is really convenient and easy but majority aren't capable of comprehending how bitcoin works.
Obviously better and secured payment system. It's a revolutionary way to pay online anywhere over the world.
currently bitcoin is the best payment system with ease in providing, it's just that there are negative things that happen with this amenity, and this negative must be removed for the progress of bitcoin.
its depend on purpose ... because its cant be refund able and its take time but its have advantages...
Bitcoin can not be a payment system. One of the reasons for the transaction fee is that the larger the transaction size, the more energy and time it takes for Bitcoin miners to verify the data. Bitcoin transaction fees are not as strict as in the regular banking industry, but if you do not charge accordingly, your deal will not be handled by the miners. " Bitcoin slows down considerably. Bank of America estimates that if there are 300,000 transactions per day, the average waiting time for each transaction is 10 minutes. Compared to Visa, it has the ability to handle 2,000 transactions per second and a maximum of 56,000 transactions per second. Bitcoin is slow.
in my opinion, bitcoin cannot be a very good payment system, with not so good speed, losing to PayPal and fairly large transaction fee, bitcoin cannot be a good payment system. If everyone says a good ETH I strongly agree.
The usability of Bitcoin as a payment system or a currency is still limited right now, because it is not yet really supported by the most popular marketplaces online, and not yet supported by most governments offline.
It is nowadays considered more as an valuable asset because its price is predicted to go up highly in the few next years.
It is nowadays considered more as an valuable asset because its price is predicted to go up highly in the few next years.
The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
Bitcoin is one of the most secure and safest payment system i have ever come come across. Moreover, it allows a wide range of payment and no restriction to people no matter their origin unlike other payment methods.
Yes because its using blockchain and its good at all,and also its has a fast transaction and if many companies or branches used it as a payment system they will be have lessen time for paying because it has a bosstful transaction.
Yes bitcoin is a better payment system, not just an investment and funds storage, bitcoin is naturally created for the purpose of fast payment system Before, but now the transaction of bitcoin is very slow, hope that bitcoin transaction make fast and stonger soon.
Bitcoin is online digital currency. So it any where to use. It change the all process and save the time. Bitcoin is time to acct. Bitcoin good opportunity for the future saving. But before use the bitcoin you know the bitcoin process and information for the future saving. Most of the people learn more information from bitcoin. So time to complete the process. If complete the process you get more profit.
Yes bitcoin is a better payment system, not just an investment and funds storage, bitcoin is naturally created for the purpose of fast payment system Before, but now the transaction of bitcoin is very slow, hope that bitcoin transaction make fast and stonger soon.
bitcoin will be good payment system why ? its simply because this coin is very secured and it has a fast transaction system. if market use this they will lessen the time consume every transaction will be made. they can pay exact ammount and no need to give a change.
bitcoin is a better payment system? it all depends on what payment system you compare, if you say bitcoin better than real money, in my opinion this time still not. bitcoin still needs to be developed, the price is very unstable and the possible use of criminal activity and transparency that is not yet clear. in my opinion, than bitcoin trying to compete with and defeat the original money that the facts have been used hundreds or even thousands of years. I would agree if they collaborate for a better future.
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