Which will be more adopted in long run: btc mobile payments or debit cards? - page 4.

chennan

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Quote from: yoona on December 04, 2015, 08:57:25 AM

Debit card hard to follow because many tight rules, mobile payment more easier. So mobile payment promising in long run i guess.

I'm not quite sure I follow... There are already asset backed debit cards that are backed by major credit/debit card companies. The real difference between the different kinds of cards you can get is whether they hold the asset until you purchase something with the card then change it over to fiat, or whether when you deposit say bitcoins in they are automatically converted to fiat and then you just have a normal debit card without a bank.

bauerrr

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That one with biggest ecosystem. I think that digital currencies will be more populars because of security, crossborder, instant payments and open to join for everyone. Remember that over 6 bilion people dont have access to bank account.

Vod

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Licking my boob since 1970

Quote from: chennan on December 04, 2015, 07:27:48 AM

However, if you supply an asset based debit card with Bitcoin that has a reliable debit system in place like visa or master card, then there will be the benefit of spending your bitcoins, along with fast micro transactions.

Doesn't that put a third party in the middle, add reversibility, and defeat the purpose of bitcoin?

Denker

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BTC mobile payments of course.
The main reason will be the costs!
Debit cards will always have higher fees and therefore payments via smartphone will overtake it in the long run.

yoona

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Live by your own rules

Debit card hard to follow because many tight rules, mobile payment more easier. So mobile payment promising in long run i guess.

aizzaku

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I would say it totally depends on the situation or what type of good your are purchasing.

Bitcoin payment is surely convenient but unlike debit card, all dont accept it. and even in future why would people take the pain of accepting bitcoins when they want is fiat only which can be done with debit card. people wont take the effort to accept bitcoin and convert it to fiat

chennan

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Quote from: Amph on December 04, 2015, 08:24:22 AM

mobile payments it work also well to store a small amount, and you need anyway a mobile phone not so much the debit card anymore, especially not with bitcoin, which was designed to abort the old money system

Sure, I definitely know it's a revolutionary new currency that acts like digital gold. I completely understand that, and the fact that it's based on internet usage. But what if you are somewhere with bad cell phone service and need to get some gas? There just seems to be multiple possible downfalls with the mobile payment system that Bitcoin possesses right now which is why you don't see any merchants accepting Bitcoin. It's not fast like what it needs to be. I know debit/credit card companies are the face of the modern fiat system, but why not let them help us out in creating a faster payment system that uses our currency that acts like gold, but can be transferred digitally to wherever we want in the world for pennies? Seems like a win-win to me.

chennan

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Quote from: onlinedragon on December 04, 2015, 08:10:27 AM

Big company's like Apple and Google are investing big in mobile payments. The next few years they invest big to make it more smooth and easy.

And also mobile payments you have to accept with fingerprint or password I gues. so the theft situation is the same situation if your debitcard get stolen or get lost.

http://bitcoinist.net/apple-pay-statistics-far-promising-bitcoin-global-alternative/

True, but I think apple pay along with apple in general is going to hit a rough patch here pretty soon with trying to act like Google, along with thinking about putting out an iPhone product that doesn't have a universal head phone jack and makes customers use only Apple headphones... Speculative, but I digress.

I think for an easier mass adoption, people have to be introduced with something that is familiar with them and "dumbed down" in a way. It would be very easy for potential customers to by coins and send them to an address on a debit card without necessarily a worry about private keys and that sort of thing. Plus, people just like tangible things. Taking a card out of their physical wallet to swipe is the human subconscious thing to do now.

Sure maybe in like 10-20 years it will all be QR code scanned, but I think the problem right now in the immediate future lies in confirmation times, and having a debit card that is backed by a currency/asset like Bitcoin seems extremely beneficial IMO.

Amph

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mobile payments it work also well to store a small amount, and you need anyway a mobile phone not so much the debit card anymore, especially not with bitcoin, which was designed to abort the old money system

onlinedragon

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Big company's like Apple and Google are investing big in mobile payments. The next few years they invest big to make it more smooth and easy.

And also mobile payments you have to accept with fingerprint or password I gues. so the theft situation is the same situation if your debitcard get stolen or get lost.

Jeremycoin

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𝓗𝓞𝓓𝓛

I think mobile payments would be more adopted, because it's more instant (well at least, it has to be). And about the confirmation time, I believe we would find a solution for it.

okae

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Btc mobile payments, for sure, i really think that things are going in that way, i mean to concentrate lot of things on our mobile, like we have now but much more, maybe is not a good idea because if you loose your mobile you will loose lot of things, in last years mobile apps advanced a lot so why not will be the use of bitcoin through your mobile much more in next years than now?

Debit cards sounds like something used in the past compared with bitcoin+mobile Wink

chennan

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I have been thinking about this for a while. There seems to be some hope on here that in the future, that when you buy something from a merchant, that the businessman/woman will give you a QR code which you then scan and pay via mobile payment. There seems to be an underlying problem here with this hope for the future, in that, if you use bitcoins like that for everyday micro transactions, along with a larger adoption rate, blocks will be maxed out and will take forever to be able to confirm. This is not a beneficial way for you or the merchant to handle business.

However, if you supply an asset based debit card with Bitcoin that has a reliable debit system in place like visa or master card, then there will be the benefit of spending your bitcoins, along with fast micro transactions.

I still have yet to get my own Bitcoin debit card for this purpose, but am interested in what people think if they have tried it, and what they think the future of spending your bitcoins may look like in everyday transactions.

Topic: Which will be more adopted in long run: btc mobile payments or debit cards? - page 4. (Read 2401 times)