Topic: Is Bitcoin Dying as a Payment Option? (Read 591 times)
Yes there are lots of other coins which may be the best payment options in the future. Bitcoin is too energy consuming and take lots of fees as a exchange.
For me, the best way to earn money on bitcoins is to invest especially for a beginner.
Bitcoin can't be used as a payment option while it still too volatil.
High fees is a disadvantage and an obstacle too, but volatility is the main reason why companies refuse to implement Bitcoin for payments.
It was profitable when the price was rising, but now, the situation is completely different.
High fees is a disadvantage and an obstacle too, but volatility is the main reason why companies refuse to implement Bitcoin for payments.
It was profitable when the price was rising, but now, the situation is completely different.
About six months ago, the news was strewn with companies that wanted to integrate Bitcoin as a payment system. However, in the rapidly developing ecosystem of crypto currency, everything has changed dramatically.
No i do not think so. Simply the market is still too young to encourage stores to enter fully into the bitcoin ecosystem. Bitcoin is a cryptocurrency that is still in the process of development and that is evident in the volatility of its market, susceptible even more to the rumor mill than to fundamentals of the economy. Therefore it is understandable that for companies it is still difficult to match these rhythms of cryptocurrencies but I have no doubt that when the market consolidates and reduces its volatility, we will see a larger acceptance of bitcoin as a payment system.
I also think that Bitcoin is simply still too much young to be used as the wide-spread method of payment, as the system itself. With time, many people will take it and start using it more and more.
Satoshis Nakamoto's white paper was clear, bitcoin is not a means of payment but a store of values like gold.
Correct. The heading to the bitcoin whitepaper is
Quote
Bitcoin: A Peer-to-Peer Electronic Cash System
Some people have misinterpreted this to mean that it was supposed to be "peer to peer electronic cash", but it clearly indicated a store of value like gold!
I am confused with your reasoning, to say the least.
I thought you were referring to what Satoshi had to say on that matter in his White Paper. When you said 'misinterpret' it clearly indicated interpreting the WP. Now you are saying that I should disregard what Satoshi said entirely, because he didn't have all the facts.
Satoshi said what he said and he clearly ment peer to peer electronic cash in his WP.
What is that blockstream? Are you referring to the US corporation https://en.wikipedia.org/wiki/Blockstream ?
If yes, well, probably they think of bitcoin what brings them most profit at that moment.
No Bitcoin is not dying as a payment option because it the most popular cryptocurrency all over the world and now it has became as a payment method in many countries and many online websites. Bitcoin popularity increasing day by day and I think that its popularity will finished never as well as it will not die as a payment option
Satoshis Nakamoto's white paper was clear, bitcoin is not a means of payment but a store of values like gold.
Correct. The heading to the bitcoin whitepaper is
Quote
Bitcoin: A Peer-to-Peer Electronic Cash System
Some people have misinterpreted this to mean that it was supposed to be "peer to peer electronic cash", but it clearly indicated a store of value like gold!
Why do you think that?I think that Bitcoin is already a payment option for all, and in the future will be more and more
And with digital gold what do you mean?
Why do you think that?I think that Bitcoin is already a payment option for all, and in the future will be more and more
And with digital gold what do you mean?
Why do you think that?I think that Bitcoin is already a payment option for all, and in the future will be more and more
And with digital gold what do you mean?
That has happening mainly because it takes time for confirmations. I prefer to use PayPal where money is transferred instantly.
Satoshis Nakamoto's white paper was clear, bitcoin is not a means of payment but a store of values like gold.
Correct. The heading to the bitcoin whitepaper is
Quote
Bitcoin: A Peer-to-Peer Electronic Cash System
Some people have misinterpreted this to mean that it was supposed to be "peer to peer electronic cash", but it clearly indicated a store of value like gold!
If you check the fee, then you can find that right now the tx fee is hovering at historic lows, with people paying as low as $0.05 or $0.10 for their transactions. But everyone is worried how long this is going to last. All of a sudden, it can shoot upward, just like what happened in December.
due to fees and due to more subject to volatility Btc is nt much suited as payment processor it is asset class investment better to save for future growth
Virtual currencies mark a paradigm shift in how we think about payments, traditional financial processes, and engaging in economic activity. Ignoring these developments will not make them go away. Its sounds interesting to me why. Since December last year was the peak season for bitcoin price and Steam still exclude bitcoin? Anyway, can’t blame them maybe they already foresaw that is is going to decline dramatically after Chrsitmas season.
actually it has happened in December because the bitcoin price increased, what greatly increased transaction volume, and all those transactions were not able to fit into the blockchain (the blockchain has limited capacity only) and only the fraction of transactions with highest fees were confirmed. That effectively increased the fees to the levels of 20-50 USD per transaction. Steam must have concluded, that it doesn't make sense to accept payment option which has fees at those levels.
due to fees and due to more subject to volatility Btc is nt much suited as payment processor it is asset class investment better to save for future growth
Recently, bitcoin is not beneficial to merchants as payment knowing that their transactions takes too long to confirm. Not to mention the bitcoin transaction fees that are so huge that customers doesnt want to use it as a paynent option coz the pay higher than how much they're supposed to.
Satoshis Nakamoto's white paper was clear, bitcoin is not a means of payment but a store of values like gold.
Correct. The heading to the bitcoin whitepaper is
Quote
Bitcoin: A Peer-to-Peer Electronic Cash System
Some people have misinterpreted this to mean that it was supposed to be "peer to peer electronic cash", but it clearly indicated a store of value like gold!
Due to the volatily of the price , companies are having second thoughts on bitcoin as a payment options. currently the use of Bitcoin at most not for the means of payment, but for saving assets.
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