Topic: Why would people want to adopt Bitcoin as a payment option? - page 12. (Read 2154 times)
Bitcoin is not just a currency, bitcoin is a store of value too. Peoples must be prefer keep their money in bitcoin because its more profitable and if that can used for payment, its a flexibility of it. Bitcoin is more flexible than gold because could carry anywhere and its much secure
I think people want to adopt bitcoin as a payment option because they are already tired at payment method that we have today which is very stressful and full of hassle. All we know how convenient that bitcoin can give to us. Any time or any where you can pay when you use your bitcoin as payment method as long as you have an internet connection. But this time I think this many countries are not yet ready to make it possible because bitcoin is not already in legal stage aspect many countries and I think small business stablishment are not have ability to innovate their payment system.
Maybe I think many people don't want to be complicated to use payment modes that use cash directly. everyone now just wants to use payment by using transfers and others. Because it is safer and also more affordable. 
Bitcoin is a great alternative payment solution online, but nothing more than that. It honestly doesn't make much sense to use crypto for payments locally where we are today.
If you have to pay attention to network congestion, worry about fees, worry about the exchange rates, it's already not viable in local situations. What if on the way to your supermarket the price tanks 10%?
You either have to add more coins to conduct the same purchase, or you have to use fiat, which is the more likely outcome. It's definitely too early on to consider crypto a serious fiat competitor.
If you have to pay attention to network congestion, worry about fees, worry about the exchange rates, it's already not viable in local situations. What if on the way to your supermarket the price tanks 10%?
You either have to add more coins to conduct the same purchase, or you have to use fiat, which is the more likely outcome. It's definitely too early on to consider crypto a serious fiat competitor.
We live in a world where we are bombarded with choices and the same goes for payment methods. We currently have a veriety of different payment methods, like : Credit Cards / Debit Cards / PayPal / Payment processors / Charge cards / Prepaid cards / Phone and mobile payments / Money orders / Online Banking ePayments (OBeP) / Cheque and Crypto currencies.
looking at the wide selection of options on the table, would you be able to motivate people to adopt Bitcoin, over any of the other options?
What sets Bitcoin apart from these other options and how would you differentiate between these payment methods and Bitcoin? What makes Bitcoin better?
Let's discuss.
looking at the wide selection of options on the table, would you be able to motivate people to adopt Bitcoin, over any of the other options?
What sets Bitcoin apart from these other options and how would you differentiate between these payment methods and Bitcoin? What makes Bitcoin better?
Let's discuss.
In layman's point of view, it is because it's generally accepted for the exchange of goods and services. Coupled with ATMs availbale in various countries across the continent. Bitcoin cannot be compared with any altcoins.
I think that two things make bitcoin not very user-friendly for the average Joe,who is completely new to the crypto world.
1.All those 0.001btc type of transactions and payments are confusing for people that use $5,$12 or $250 payments.
2.The 34-characters bitcoin addresses can be confusing as well.It's way simpler to just use your Paypal email.
Anyway,we can't change this.
1.All those 0.001btc type of transactions and payments are confusing for people that use $5,$12 or $250 payments.
2.The 34-characters bitcoin addresses can be confusing as well.It's way simpler to just use your Paypal email.
Anyway,we can't change this.
A lot people (and it only increases further towards mobile payments) pay with their mobile phones nowadays, so the only thing for them to do is to scan the QR code that's presented to them and to either approve or reject the transaction. What's so difficult about it? Most of the things people think are an obstacle can be worked out by upgrading software solutions and mobile clients.
The main obstacle is that people aren't keen on replacing the coins they spend, which is understandable as well, because money is meant to be convenient and not require additional steps. Bitcoin's upwards potential gets people hooked to their coins more so than anything else.
My reason why i want bitcoin as payment is, to buy something out of my country with simple way. Because bitcoin transaction can do from country to country and we don't need to do anything like what fiat does. Even Paypal very strict when used as payment.
For me, the most important thing is that Bitcoin is not just a payment for goods or services, it is already a good investment of money, which is likely to make a profit. For example, having received a fiat, you decide what to do with this money further, where to invest. Having received Bitcoin, you can convert it to Fiat or leave it as a certain asset.
Every technology needs to be improved over the time. That's why several payment systems have been created. Each of these payment systems has created to solve a problem. Bitcoin has solved one of the biggest problema. That is the control that governments can have over people's money. Decentralization is a great feature bitcoin has. It makes it completely different from any other payment system.
Everything has a positive and negative side. All the payment methods would definitely have some pros and cons.
Bitcoin has a few negative things but quite a lot positive things. The major one is being a decentralized currency with full transparency.
If you search online you will get so many reasons why bitcoin is still better than fiat currencies. Having a payment option from such a currency would be the best deal won't it ?
Bitcoin has a few negative things but quite a lot positive things. The major one is being a decentralized currency with full transparency.
If you search online you will get so many reasons why bitcoin is still better than fiat currencies. Having a payment option from such a currency would be the best deal won't it ?
Looking at all the payment methods such as paypal and credit cards, the blockchain based cryptocurrrency which is BTC has proven beyond doubt to be the best concerning how transactions are made and also low charges and security matters.
Decentralized is a feature that is not owned by other transaction tools, and decentralized transaction tools that make bitcoin safer.
Very fast volatility is also a feature that can attract many people. so I think this feature makes bitcoin different from other currencies.
Very fast volatility is also a feature that can attract many people. so I think this feature makes bitcoin different from other currencies.
Due to the blockchains' features such as security, fast and safeness which Bitcoin is based on it, people are trying to link their services to it. And I think its one the best idea.
There are so many platforms are accepting bitcoin and these platforms make the human need more and easier and every human likes to work with easy manner that is why peoples want to adopt bitcoin as a payment option,
4 of the biggest reasons in my opinion are:
- decentralization
which means there is no need for third parties and their fees. also there wounld't be any kind of restrictions in your usage.
- privacy
you don't have to provide your identity to the vendor just to buy a small item!
- global
obvious
- no charge back
this is great for merchant protection against all the frauds that take place with traditional payment systems.
- decentralization
which means there is no need for third parties and their fees. also there wounld't be any kind of restrictions in your usage.
- privacy
you don't have to provide your identity to the vendor just to buy a small item!
- global
obvious
- no charge back
this is great for merchant protection against all the frauds that take place with traditional payment systems.
Ok, this is the first response that adds a lot of value to the discussion. Decentralization is only beneficial, if people know the advantages of using a decentralized network.
Privacy only becomes an issue, when it is taken away from you and if you are aware of that.
The "No Charge Back" feature is a huge bonus for merchants, but it is also a huge bonus for scammers.
The bitcoin is both payment option and an investment as well. Sometimes people often make profits off their bitcoin investments. Also, people want to use bitcoin as a payment option because it is fast, secure, decentralized, and acceptable worldwide. Using bitcoin you are in control of your money/assets, unlike all the financial institutions that you've mentioned above. People want to taste and feel the power of freedom which can only be given to them by the bitcoin. Finally, the bitcoin is a fully digital currency where two parties can exchange values privately and cashlessly without the intervention of the third party.
I think that two things make bitcoin not very user-friendly for the average Joe,who is completely new to the crypto world.
1.All those 0.001btc type of transactions and payments are confusing for people that use $5,$12 or $250 payments.
2.The 34-characters bitcoin addresses can be confusing as well.It's way simpler to just use your Paypal email.
Anyway,we can't change this.
1.All those 0.001btc type of transactions and payments are confusing for people that use $5,$12 or $250 payments.
2.The 34-characters bitcoin addresses can be confusing as well.It's way simpler to just use your Paypal email.
Anyway,we can't change this.
You hit the nail on the head. Technically, we can change this by investing in altcoins that are fixing this problem, which are few and far between, but do exist. User-friendly distributed exchange networks and the like involve platforms where values are translated into layman's terms. Poor security is another drawback keeping people from using it.
We live in a world where we are bombarded with choices and the same goes for payment methods. We currently have a veriety of different payment methods, like : Credit Cards / Debit Cards / PayPal / Payment processors / Charge cards / Prepaid cards / Phone and mobile payments / Money orders / Online Banking ePayments (OBeP) / Cheque and Crypto currencies.
looking at the wide selection of options on the table, would you be able to motivate people to adopt Bitcoin, over any of the other options?
What sets Bitcoin apart from these other options and how would you differentiate between these payment methods and Bitcoin? What makes Bitcoin better?
Let's discuss.
looking at the wide selection of options on the table, would you be able to motivate people to adopt Bitcoin, over any of the other options?
What sets Bitcoin apart from these other options and how would you differentiate between these payment methods and Bitcoin? What makes Bitcoin better?
Let's discuss.
It is because they already have their set of Bitcoins and for that to happen it will bring more people to it and make the price of it even more higher.
Honestly I am not motivated in using bitcoin as payment option. That really looks like tiny bit much when we consider all the possible ways of paying in this digital world. I mean not just the ways which you listed in OP. We do have unified payment system which can allow us to pay from fiat wallets too. This is crazy to think we would want to replace it with bitcoin which is not even able to handle stress conditions of those back in 2017 ATH.
I think people want to adopt bitcoin as a payment option because they are already tired at payment method that we have today which is very stressful and full of hassle. All we know how convenient that bitcoin can give to us. Any time or any where you can pay when you use your bitcoin as payment method as long as you have an internet connection. But this time I think this many countries are not yet ready to make it possible because bitcoin is not already in legal stage aspect many countries and I think small business stablishment are not have ability to innovate their payment system.
for online payment methods, so far many people are comfortable with paypal. and it's difficult to adopt bitcoin with that competition. but there is a gap that can be entered when comparing paypal with bitcoin. that is, when I will withdraw. paypal takes 5 days to withdraw to the bank account, while bitcoin only takes a few minutes. I think it's a plus value for Bitcoin to be able to beat paypal.
Just because bitcoin is a valuable asset.
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