The world now is evolving especially in mode of payment, you can pay bills, pay your order online and many more by using apps or online e-payment facilities. But the crypto as mode of payment, I think is far away, but I hear some of the country they accept bitcoin, eth or other crypto, I don't how they can do that, How much the transaction fee if you pay bitcoin or eth. But hopefully we can adopt this all over the world.
I will admit we are not as close to that goal as we would like but we are getting closer to that, the more the world moves towards digital payments the bigger the chances people begin to use bitcoin and many people once they try it are not going to want to go back to the traditional fiat systems, a lot of people complain about bitcoin lack of speed and while this is true when it comes to a payment that takes a few seconds, bitcoin is faster and cheaper than most wire transfers and that is a big advantage bitcoin has over those kind of fiat transactions. 
Topic: The Modern Mode of Payments (Read 651 times)
In fact there may be a few companies who still use bitcoin as mean of payment due to the expensive for fee per transaction. I guess, this is the serious thing thag should be resolved because if bitcoin only be used as an investment place then I guess it won't last long. That we can compare bitcoin and gold is bitcoin can be used as mean of payment system by most people around the world but gold can't do that since its just a store of value.
Also, the other problem is the regulation from the government. We can freely use especially in my country bitcoin as a mean of payment since my country still ban bitcoin for payment system. So as this is will make most merchant in my country just reluctant to use bitcoin as payment tool so I just using it as an investment place no more than that. Indeed, the bitcoin feature is helping everyone in this world since day by day or time by time the technological issue cannot be separated by human life.
Also, the other problem is the regulation from the government. We can freely use especially in my country bitcoin as a mean of payment since my country still ban bitcoin for payment system. So as this is will make most merchant in my country just reluctant to use bitcoin as payment tool so I just using it as an investment place no more than that. Indeed, the bitcoin feature is helping everyone in this world since day by day or time by time the technological issue cannot be separated by human life.
they start their works online and also making transactions online, buying and selling online and instead of paying a cash money, they use electronic money for payments or even sending money for their love ones. Also, through this pandemic many people start using cryptocurrency where they can earn money as another source of income. So, making transactions outside is really difficult nowadays, but because we have a lot of modern types of mode of payments, no need to worry about that.
Doing online business has been it for everyone. People now wants to be part of an online business where they can be able to generate good amount of money by working from their home and all that.Especially this pandemic taught so many people a lesson, and one of those lessons that people learnt was that their office can be lost in situations like this and also that they shouldn't only rely on one source of income because they can get disappointed at anytime and then they wouldn't have a strong means of reliable income. So, it's very important that we have other jobs to do, so that if anything happens we can still continue with the other jobs we have to be making income and taking care of ourselves and family.
It's still a flawed system, with constant bugs and runarounds that people do to one-up on each other. However, since the demand is soaring high, the developers are always hands-on in ensuring that their applications are working in the best of its ability given the current technology, lest they risk falling behind in the current fast-paced running digital economy.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
You are seeing the bright side of it but imagine in small countries where education is still a big factor and employment is killing them, how can you expect them to learn all these online payments and hassle? I mean yes there are benefits but small shops and local workers need a lot of education and practice to adopt this otherwise they will be a victim of online theft.I have seen educated people getting scammed even today when everyone knows we must not give our card details and OTP to a stranger but this still happens and with the complete system moving to the internet there will be lots of thefts and the worst part of online scams is that these are not local thieves whom you can catch, they might be operating from a completely different country.
We can't compare the E-payments such as the Paypal to cryptocurrency they have to understand first what is Bitcoin and other Cryptos they might be surprised of the price change of the Bitcoin and cryptocurrency compared to Paypal and other E-payments. Cryptocurrency is volatile.
Actually, to be successful in the cryptocurrency sector is not easy at all. Bitcoin's price is constantly changing. Sometimes it makes me worry, I think if it falls, I will lose everything. But Bitcoin meets the needs of modern payments: fast speed, cheap cost.
We can make transaction easily just by using your phone, computer and other gadgets, with fast transaction, safe and hassle free because you just make transactions while stay at home, and away from VIRUSES.
Of course, cash can be dirty and even carry viruses and bacteria. I have heard that some people put their newly received money in a small plastic bag and do not touch those paper banknotes for two days. Viruses cannot stay alive for too long without infecting the next human, so the cash eventually cleans itself of such organisms.
It is true that due to the coronavirus pandemic, most shoppers have changed their minds and decided to use contactless bank cards more widely, as well as increased the volume of their E-money transactions, but some people still prefer traditionally pay for goods and services in cash just to maintain privacy.
As of Bitcoin, some gateway platforms (such as BitPay, WePay, etc) allow their verified customers to easily make and automatically accept cryptocurrency payments. In fact, these companies simply convert the deposited coins to fiat money on the request of their client. I think this payment method can also be considered modern.
We cannot compare the use of cryptocurrency to the e-payments you've mentioned. Just in term of decentralization, the two are different from each other since e-payments are definitely under the control of the government. When it comes to crypto, it is not yet legal for most of the countries unlike the e-payments that is being used considering the pandemic going on. Also, when it comes to volatility, e-payments doesn't have one since the currency being transacted there are just mere fiat. Both are convenient but obviously e-payments would rule more since it is quite required and much more well-known compared to cryptocurrencies.
Yes that is correct. Aside from that, many stores, or even fast food are accepting e-payments. E-payments also provide payment for bills, send money to loved ones, and buy load with rebates while cryptocurrencies were only accepted at selected stores. Even though both were operated online, still have different usage. Me personally I am just connecting this two for any transactions I needed for easier money transfer.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
I don't think that should ever happen, physical coins and notes are necessary because online transactions need the internet for happening, and without it, it's as if we don't have any money even if we are a millionaire, and so if I eat at a restaurant and for some reason my phone switches off or if my bank server goes down, I'm stuck! Until that problem is solved, I won't be able to pay. So I think, tangible form of money is necessary always!
there could be a time that all these will actually happen. the banknotes and coins will probably apply to remote areas but in major cities, the contactless transaction will be much convenient for people.
in some cities in China, the vendors on the streets will only display QR codes of the fruits for anyone to scan in order to buy. Paymaya and Gcash i think has this functionality. i do have cash but just use it for paying shopee and lazada.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
I don't think that should ever happen, physical coins and notes are necessary because online transactions need the internet for happening, and without it, it's as if we don't have any money even if we are a millionaire, and so if I eat at a restaurant and for some reason my phone switches off or if my bank server goes down, I'm stuck! Until that problem is solved, I won't be able to pay. So I think, tangible form of money is necessary always!
Well this is now the mode of payment in today's era and whether we like it or not we will all be using it because first, it's convenient, no need to carry heavy bulk of cash or coins and also safe for those people who suspiscious of you having lots of money inside your bag, safe from virus no need to go to the bank in short its a good improvement and can be helpful
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
Well, cashless payments are gradually practiced today especially during the pandemic, but fiat currency cannot be phased out. Online payment processors can be susceptible to any software malfunction and errors. When it happens it could bother you from having a successful transaction, and If there's no fiat, there could be no other way to make it successful than to wait until the system is fixed.
We're already using cashless payments by scanning QR codes sending payments from our E. Wallets. It could be improved in the future, but then again fiat would always exist.
Yeah right and I always used it since its free of charge while transferring it to another mobile e-wallet(don't know if this one the same on what you have now) and I avoid dealing with crypto especially bitcoin and ethereum since the transaction fee is so high so its not really ideal to use this as an option for now.
And I don't imagine here that fiat will vanish and replaced by crypto since this thoughs is impossible to happen.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
Well, cashless payments are gradually practiced today especially during the pandemic, but fiat currency cannot be phased out. Online payment processors can be susceptible to any software malfunction and errors. When it happens it could bother you from having a successful transaction, and If there's no fiat, there could be no other way to make it successful than to wait until the system is fixed.
We're already using cashless payments by scanning QR codes sending payments from our E. Wallets. It could be improved in the future, but then again fiat would always exist.
Yeah right and I always used it since its free of charge while transferring it to another mobile e-wallet(don't know if this one the same on what you have now) and I avoid dealing with crypto especially bitcoin and ethereum since the transaction fee is so high so its not really ideal to use this as an option for now.
And I don't imagine here that fiat will vanish and replaced by crypto since this thoughs is impossible to happen.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
Well, cashless payments are gradually practiced today especially during the pandemic, but fiat currency cannot be phased out. Online payment processors can be susceptible to any software malfunction and errors. When it happens it could bother you from having a successful transaction, and If there's no fiat, there could be no other way to make it successful than to wait until the system is fixed.
We're already using cashless payments by scanning QR codes sending payments from our E. Wallets. It could be improved in the future, but then again fiat would always exist.
Although that it will take a long time for this to happen, I can see that coming. Imagine that we don’t need physical bills and coins anymore because it contributes to the widespread of the virus. We can see that by just paying for transportation, foods and drinks in the resto, etc., we’re just using our mobile phones to scan QR codes for contactless transactions. This is definitely going to be amazing, but I don’t know when we could see that happen. Maybe in a few decades from now?
we can't expect everyone to adopt but we can always inform someone about the innovations so we can cut short the time it takes to fully innovate, remember that every adoption counts.
Whenever you are recommending about bitcoin payment system to your friends and other known people then you are probably making this new technology getting advanced in terms of adoption and getting it into mainstream. Without getting ourselves involved into promoting bitcoin into the new people, we cannot expect adoption of modern payments to be evaluated. I agree it will take time but it definitely requires our contribution as well.Unfortunately we never feel this kind of responsibility and this is the reason bitcoin is still lagging in terms of adoption. If bitcoin is not having the characteristics of being treated like an asset, I could not imagine at what level bitcoin adoption might have been doing this day.
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Yes, we are in middle of innovation and adoption. We cannot expect everyone already started using digital payments and at the same time there are few merchants started accepting crypto payments in most countries or at least you are able to buy anything using gift coupons which can be purchased for crypto payments.
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Big companies and entrepreneurs are who the best people who can do this job. They can make invention or innovative product or service related to cryptocurrency that can benefit people, I think this is the best way to spread the word about bitcoin.
Again the concept of bitcoin based startups, which is becoming common in many countries. New exchanges are being founded and they are trying to spread the word. I think as an individual we can help these reach the groups that need it the most. Crypto can help the small-cap markets and the business owners but it needs acceptance before than.Yet we do not see too many people selling for bitcoin. We do not have to really expect millions of business' to start accepting bitcoin, that is not the important part here, what we should do is get huge corporations to accept. Look at Tesla, I never bought one but I hear they accept or will accept bitcoin? Do that with google, facebook, apple, amazon, microsoft and other big names that I forgot, get the biggest 20-30 companies to accept bitcoin and everyone else in the world will follow them.
People want to use a system that is convenient to them. They want a useful, fast, and less costly system that bitcoin or crypto is providing. But the problem with global adoption is a very large number of people don't know how to use the internet or never have used it. Without the internet, bitcoin doesn't exist. So first we need to adopt technology globally. At least 70-80% of people should have devices and internet connections. Without it, mass adoption will never be possible and paper money will still be needed.
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Big companies and entrepreneurs are who the best people who can do this job. They can make invention or innovative product or service related to cryptocurrency that can benefit people, I think this is the best way to spread the word about bitcoin.
Again the concept of bitcoin based startups, which is becoming common in many countries. New exchanges are being founded and they are trying to spread the word. I think as an individual we can help these reach the groups that need it the most. Crypto can help the small-cap markets and the business owners but it needs acceptance before than.Yet we do not see too many people selling for bitcoin. We do not have to really expect millions of business' to start accepting bitcoin, that is not the important part here, what we should do is get huge corporations to accept. Look at Tesla, I never bought one but I hear they accept or will accept bitcoin? Do that with google, facebook, apple, amazon, microsoft and other big names that I forgot, get the biggest 20-30 companies to accept bitcoin and everyone else in the world will follow them.
In my country cryptocurrencies are being introduced little by little. Binance P2P, Cryptoway, Cryptobuyer among others are offering their services to provide users with the most pleasant experience.
OP, I agree that we must teach our friends and family the use of cryptocurrencies and demonstrate its benefits. In fact I am trying, we just need a little patience and choose the easiest method to successfully get more people to join bitcoin and cryptocurrencies.
As a curious fact in my city I have heard on the radio of people who offer their services as an advisor in the world of cryptocurrencies, if someone wants to venture into similar work there is a new way to earn extra income.
OP, I agree that we must teach our friends and family the use of cryptocurrencies and demonstrate its benefits. In fact I am trying, we just need a little patience and choose the easiest method to successfully get more people to join bitcoin and cryptocurrencies.
As a curious fact in my city I have heard on the radio of people who offer their services as an advisor in the world of cryptocurrencies, if someone wants to venture into similar work there is a new way to earn extra income.
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