Topic: Which will be more adopted in long run: btc mobile payments or debit cards? - page 3. (Read 2400 times)

What do you mean "effort"? Accepting bitcoin payment is painless,  fast ,cross borders, no charge back risk. What you only need is to show our address to the senders. The payments processors will take care of all of the other things, cover the bitcoin to fiat, transfer to you bank.

I think that mobile payments will definitely be the payment of the future. We already do so much on our phones, so mobile payments will definitely be more adopted compared to debit cards. But debit cards are also convenient, I like mobile payments better though.

he is talking about bitcoin debit cards not fiat debit cards, which cna have  point in soem place where paying directly with bitcoin via mobileis not feasible

we could say Bitcoin and debt card system are reliable and fast, but running on different concept of platform. Even bitcoin debt cards are arising recently, allowing your spending your bitcoin through debt card. The underlying platform processing the transactions at the time of purchase  is still the debt card system, the different is just to exchange bitcoin to fiat and load the fiat to the card for the spend.

mobile payments should be like we install the bitcoin wallet in our phone and load bitcoin. The wallet holders just scan the payment QR code to directly send the bitcoin payment to the merchants' address. It is quick and easy.

Since debit cards are already adopted, isn't the answer BTC mobile payments by default?

I think both is better, now debit card was running, like bit x, coinocard and many other, i didnt hear mobile payments from btc, we need it

For now i guess debit cards are good step to we have better adoption and daily use of our coins, but mobile payments are way better solution and future belongs to them in my opinion.

whether its side chains, lightning, visa (fiat conversion) or visa's centralised altcoin... the future is going to be mobile devices..

even right now visa allows you to link your debit card to applepay so that you dont need to hold the plastic card in back pocket.
mobile apps will be the future. but which corporation/community app will be used most is still to be decided.

I think mobile payment will be in long run. Its had low fees and instant payment.
With bitcoin debit card there will be alot of thing to do. Need to pay high fees and  to apply one need alot of personal detail.

I bet on debit cards as most stores right now would see them as safer because of the Visa/MC logo on them. Debit cards may also allow off-chain transactions, meaning faster payments. Everything could change in the future, but for the next 5 years, debit cards are the best option.

"side chains" are just glamourised altcoins.. but as you 'hinted' visa could invent their own altcoin... seeing as many financial industry businesses are already looking into blockchain technology.. its a very big possibility that some of the "sidechains", i mean altcoins will be visa/mastercard operated..

i also think that bitcoin will be a fortknox type reserve asset currency like what gold use to be rather than a transaction ledger for average  joe. where each bank branch/business transacts offchain for customers. and then makes a batched payment compiling together all offchain payments into one single bitcoin transaction to represent movements from one service/country to another. (if bitcoin covers more than 3% world population usage)
swap offchain for bank notes and bitcoin for gold and you will understand my analogy to fortknox.

but at the end of the day. it will be these altcoins that banks hold for businesses, pay to staff and then tax to governments that people will end up using and bitcoin will fade into the background. only to be used/touched by the rich and powerful

also lightning network is just a buffer, its more about speedy transactions, and not about tx data reduction. once things are finally 'settled' / confirmed to the blockchain after channels are closed.

Well I guess I get what your saying. I just like the concept of the card in general though that uses a lot of security measures when someone tries to buy something with the card. But I see in multiple threads where people want a quicker side chain for faster micro transactions, why not just stick to the original Bitcoin protocol, use Bitcoin as assets, and allow visa to work as the Lightning network? I know they charge small fees, but there are bigger problems to face when the devs change the whole structure of bitcoins block chain in general.

Do you have a suggestion on how to fix this problem? I'm just more interested in how to attract local businesses to think about accepting Bitcoin, and the fact of the tx limit is not a very good selling point to any body.

its a gimick, its not solving anything. these days everyone has a phone and a phone app can easily sign a tx 'offline' and push a signed tx to the internet..
its not solving bitcoin congestion of mass adoption.
plus also requiring multiple hubs eg 1 per town.. what financial benefit would anyone have to be a hub(full node)...

I think this will cut close together both are avalable already

It's kinda hard to say, but if I had to go for either one of them I would have to say mobile payments

IMO bitcoin is never going to defeat cards but that isn't necessarily a bad thing.

Wow, see now that's awesome! Thanks for sharing! And yeah, it would be beneficial to not have a third party system that uses lets say visa. Hopefully more development will take place on this card. Any ETA on it's release date?

to all the utopian dreamers thinking bitcoin will be the back bone of a one world currency either via direct blockchain tx or deposit to debit card:

1mb bitcoin can handle an maximum 2000tx a block(average tx 500byte) * 6 an hour * 24 hours * 30 days = 8640000tx/month

the average person makes an average of 43 fiat transactions a month:
weekly food shop * 4
gas utility
water utility
electric utility
phone and internet
car fuel * 4
daily snack, coffee or lunch, clothes or gadgets * 30
receive wage once a month
(yes im being very liberal with the numbers, dont knit pick)

so at 1mb block bitcoin can handle about 200,930(8.64m/43=200k) peoples daily activity (if people could buy anything to live on, directly with bitcoin(not debit card))
so at 1mb 200k people can happily transact. at 2mb 400k, at 8mb 1.6mill, at 32mb block 6.4million people can transact on the blockchain..
so lets take new york: 8 million people, 6 million of working/adult age..
in the utopian dream that every business in just new york accepted bitcoin... then bitcoin would be fine for its residents to use pure bitcoin with blockchain tx's.
but that is only 6million out of 7 billion (5billion adults) worldwide(not even 1%).

so 32mb blocks will only satisfy a new york single currency population, if all bitcoin users only done bitcoin transactions ONCHAIN

now... people doing a once a month bitcoin blockchain tx to a debit card provider will solve only 192mill (half of america!).

so anyone thinking bitcoins blockchain will ever be a one world currency managing 5billion adults daily uses.. i am sorry to burst your bubble
so anyone thinking bitcoins blockchain will ever be a one world currency managing 5billion adults monthly conversion to debit card.. i am sorry to burst your bubble

that said
atleast you know the number of users of pure onchain daily use: 6mill
atleast you know the number of users of monthly debit card deposits use: 192mill

I guess so, but in my mind, I think the true purpose of Bitcoin is to be without a bank. Of course Visa, MasterCard, and others would act as a third party in a way, but they aren't a bank, just an easier and faster payment system. I'm not saying people should go stupid with it and keep all their eggs in one basket by using a debit card as a wallet in general; but rather to store some extra coin away there for the added benefit of being able to actually use your Bitcoin for everyday life, and everyday life transactions are usually always micro transactions.

debit cards for now, but there's something awesome in development by mycelium https://vimeo.com/145882339

really like the approach