Topic: Is ETH better than BTC for payment? - page 2. (Read 1357 times)
Ethereum is better for transaction not only because of time and block confirmation the main readon I am considering ethereum is for transaction is that fees whole comparing by converting to fiat currency transaction fees is cheaper in ethereum . May in future if ethereum price increases then it may increase now ethereum is better for me crypto currency transaction.
I personally feel Litecoin is much better then Bitcoin and Ethereum but sadly its not working every where like bitcoin so where I able to use then I am going with Litecoin and where I feel I cannot go with this I am using Bitcoin as its also very important for all movements without any serious problem.
for payment, I also sometimes use other payment alternatives. it's because of the lower fees. however, in the case of bitcoin and ethereum, most people prefer bitcoin. it's just that, personally, I chose ethereum as my transaction tool so far.Transaction wise, I would also have to go with Eth. Given that it is available on most local wallets specially here in our country, it is really the most convenient way to transact online.
Yes, the transaction of Ethereum is more faster than Bitcoin. Btc takes much time than other crypto-currencies. I wil always try to exchange with ethereum, because it is more profitable for withdraw and getting ethereum in my wallet quickly.
I agree with the convenience of ETH payments over BTC. In addition to the pros mentioned above, ETH is also less volatile in my opinion so in the future the payments that may now seem insignificant I expect to not be on a completely different scale, and in this regard I consider ETH payments much safer over BTC.
In a nut shell, yes because considering the speed and time it takes for transactions to confirm on bitcoin network and that of Ethereum network the latter will definitely serve as a better payment method than the former. The scalability of Ethereum network exceeds that of Bitcoin.
for now it might be right because the fee to use btc is more expensive than using eth, for large transactions it might not matter but for small transactions like 10-50 $ it will feel heavy per transaction.
Sure, it looks better on paper, but what is the acceptance of ETH? Much lower than BTC.
When it comes to paying a BTC holder who wants to pay for something will have the following problem:
See something valued in BTC, exchange that value to ETH, send ETH to the seller, pay ETH fee.
Will it really be that much cheaper and faster than paying with BTC? Even if it will be the additional time needed for conversion and conversion fees will make it even.
for now it might be right because the fee to use btc is more expensive than using eth, for large transactions it might not matter but for small transactions like 10-50 $ it will feel heavy per transaction.
Yes ETH is faster than BTC, and this is one point for it, but if the only parameter of evaluation is the velocity there are more fasters coins like LTC and NANO, nano is instant. I usually pay with nano my coffe in my office. We bought a coffe machine and for each coffe we pay 0.50$ in Nano !
good initiative to pay coffee in NANO, it is off-topic, but good
regarding ETH and BTC, ETH recently has more transactions than BTC; and cumulative fee is greater than in BTC, so one could tell that ETH is more used than BTC lately, is that because it is better and faster is another subject
what is more important, both are not primarily good for everyday payments and would need second layer for that - BTC with Lightning network and ETH with services like Loopring
Very often we see people sugget to use ETH or any alternative coin for cheap and faster tx. I am going to share some information which will proof that it is no better. I may be wrong too, I am not an expert here. Just sharing what I have got.
BTC Avg. Block time- 10 minutes
ETH Avg. Block time- ~14 seconds (now)
So, ETH will get around 43 blocks = 1 BTC block
BTC block size- 1 MB (Let's say we use Legacy only)
ETH Block size- 20 to 30 kb (Let's say 25kb on average)
How much byte can both proceed within 10 minutes?
Both BTC and ETH will be able to proceed 1 MB tx data on average.
Is not both same in term of handling tx? Sometimes BTC is even better with segwit.
Just sharing some random thoughts, I am not expert technically. So, I may be wrong in many ways.
BTC Avg. Block time- 10 minutes
ETH Avg. Block time- ~14 seconds (now)
So, ETH will get around 43 blocks = 1 BTC block
BTC block size- 1 MB (Let's say we use Legacy only)
ETH Block size- 20 to 30 kb (Let's say 25kb on average)
How much byte can both proceed within 10 minutes?
Both BTC and ETH will be able to proceed 1 MB tx data on average.
Is not both same in term of handling tx? Sometimes BTC is even better with segwit.
Just sharing some random thoughts, I am not expert technically. So, I may be wrong in many ways.
Yes ETH is faster than BTC, and this is one point for it, but if the only parameter of evaluation is the velocity there are more fasters coins like LTC and NANO, nano is instant. I usually pay with nano my coffe in my office. We bought a coffe machine and for each coffe we pay 0.50$ in Nano !
I'll prefer Ethereum for reasons like lower block time confirmation, lower fees, higher supply. I know Bitcoin has the upper hand when talking of scalability, but I'll go for Ethereum always.
Nothing beats bitcoin as far a payment solution is concerned. It is the most robust and secure payment solution. The issue of longer confirmation can be resolved with a second layer solution such as lighting network. ETH on the other hand leads when it comes to smart contracts, it also get congested sometimes, which is not an advantage over bitcoin
I have been in the world of crypto for 4 years, and to be honest, I like Ethereum more than Bitcoin,
because Ethereum is faster in the transaction process and the fees are also fairly small,
because Ethereum is faster in the transaction process and the fees are also fairly small,
With the recent increase in the price of transaction fee for btc up to $3+ per transaction and how faster transfer of both the respective coin works, I think eth is better than btc for payment, speed and cost wise
That's true and another problem is for people like me who use bitcoins but when we gamble in websites like cloudbet they are charging around 0.0005 BTC per withdrawal as a transaction fees which I am not sure if they actually pay for the transaction but paying $5 for a small transaction say $35 is actually ridiculous and painful. So, ETH has been a nice addition on most websites including cloudbet and helps manage transaction fees problems.For the people who deal big I would say bitcoins is still the ideal choice as they won't bother for a small amount of fees and talking of confirmation for ETH you have to wait for 6 confirms while Bitcoins are mostly accepted with 1 confirmation so the confirmation time I believe is not a major problem while transaction fees still is, at least for small transacting people like me.
Let's look from some perspectives, in terms of cryptocurrency payment I would prefer the ethereum payment gate way than tge bitcoin payment gate way because of their fees. In term of scalability, bitcoin has that compare yo ethereum but the forthcoming upgrade will address those issues to make ethereum more scalable. Also, in terms of confirmation; ethereum has flaw like the early stage of Bitcoin which the team are working on.
Once I conducted an experiment, and for several Bitcoin transfers, the Firium set the minimum and maximum values of the transaction price, at the same time at different time periods. As a result, the transaction on the Ethereum network once passed almost within 20 seconds, and at most I had to wait about 5 minutes. But on the Bitcoin network, the minimum time that I had to wait for the transfer of funds was 20 minutes, and the maximum was almost 35 hours. Based on this, I concluded that for me, Ethereum is more favorable and convenient for making payments.
It seems to me that for a simple user it will be beneficial to use ethereum in everyday life, but Bitcoin is better to use for large-scale transactions of funds between large companies, since Bitcoin still offers the whole process much faster than any banking sector.
It seems to me that for a simple user it will be beneficial to use ethereum in everyday life, but Bitcoin is better to use for large-scale transactions of funds between large companies, since Bitcoin still offers the whole process much faster than any banking sector.
Yeah, Ethereum transactions were faster and the fees were very cheap at that time but lately it became high transaction costs so this made me an obstacle in sending a lot while I tried to use btc smaller than ETH now somehow now it turned upside down like this .
Personally, In the past couple of months, I have preferred ETH payments to btc reason being that, the Ethereum blockchain is somewhat faster, cheaper, easier and more flexible when compared to the btc blockchain. However, recently, the Ethereum blockchain has been marred with several issues of congestion and higher fees making it quite frustrating to conduct business and transactions. This has led me to look only towards btc payments. Until things change, I will stay on btc payments.
I had a very bad experience with ETH a few months back which enabled me to absolutely stop dealing with Ethereum although later I realized that how it was done and what exactly happened was actually my lack of knowledge.So, basically a guy paid me 0.5 ETH and the transaction was pending like normally and he told me that the eth network is clogged up and the confirmation will take a few hours and I never heard if eth transactions had any fees issues so I released him the bitcoins as it was a ETH to BTC trade.
After 15 mins I see the transaction was vanished and later found that how it was done was basically sending 0 eth to yourself cancels the previous unconfirmed transactions. I could not find any reason to call ethereum is a better payment than bitcoin's. Ethereum got the dapps feature but that also misused to ruin the altcoin industry's fame and nothing more.
Personally, In the past couple of months, I have preferred ETH payments to btc reason being that, the Ethereum blockchain is somewhat faster, cheaper, easier and more flexible when compared to the btc blockchain. However, recently, the Ethereum blockchain has been marred with several issues of congestion and higher fees making it quite frustrating to conduct business and transactions. This has led me to look only towards btc payments. Until things change, I will stay on btc payments.
With the recent increase in the price of transaction fee for btc up to $3+ per transaction and how faster transfer of both the respective coin works, I think eth is better than btc for payment, speed and cost wise
I personally feel Litecoin is much better then Bitcoin and Ethereum but sadly its not working every where like bitcoin so where I able to use then I am going with Litecoin and where I feel I cannot go with this I am using Bitcoin as its also very important for all movements without any serious problem.
for payment, I also sometimes use other payment alternatives. it's because of the lower fees. however, in the case of bitcoin and ethereum, most people prefer bitcoin. it's just that, personally, I chose ethereum as my transaction tool so far.Transaction wise, I would also have to go with Eth. Given that it is available on most local wallets specially here in our country, it is really the most convenient way to transact online.
We must go to the LN node to be able to get a good experience with btc tx.
I personally feel Litecoin is much better then Bitcoin and Ethereum but sadly its not working every where like bitcoin so where I able to use then I am going with Litecoin and where I feel I cannot go with this I am using Bitcoin as its also very important for all movements without any serious problem.
for payment, I also sometimes use other payment alternatives. it's because of the lower fees. however, in the case of bitcoin and ethereum, most people prefer bitcoin. it's just that, personally, I chose ethereum as my transaction tool so far.Transaction wise, I would also have to go with Eth. Given that it is available on most local wallets specially here in our country, it is really the most convenient way to transact online.
Jump to: