Will cryptocurrency soon be an alternate payment option?

tungaqhd

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Quote from: growthincrypto on June 28, 2019, 04:56:41 AM

Just a month ago, giants like Starbucks, Nordstrom, Whole Foods, and AT&T announced that they accept cryptocurrency as a payment option.
With the popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.
Also, with giants accepting it as a payment option there is no other need to prove its authenticity.

Do you own any cryptocurrency yet?

There are already many services that accept cryptocurrency as payment method, but they cannot provide it worldwide because some country don't accept cryptocurrency as a legal payment method.

diazepam666

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cryptocurrencies are already alternative payment for Fiat currency but Government and World centralised business entities are not allowing Bitcoin to ba payment mode.
So we people need to push the government and and big companies to accept the Bitcoin legal currency in many places that is a solution to have Bitcoin as alternative payment option everywhere in this world.

Tipstar

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Maybe they are not here yet. Anything to be our alternate payment option should have a somehow stable price, the Libra principle is great for a good payment coin.
And it should be quick and fee-less like what Nano does. Even faster as no one would wait for a confirmation after you pay for it somewhere.

Bonenx14

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Quote from: bitzizzix on January 12, 2020, 12:01:56 PM

Quote from: Bitcoinislife09 on January 12, 2020, 11:47:13 AM

Quote from: wack slacker on January 12, 2020, 09:05:21 AM

Cryptocurrencies will be an alternative means of payment if more and more people own cryptocurrencies. I think that if the cryptocurrency market continues to show signs of instability in the value of ICOs and ICOs, in the future, no one wants to own and use them. We need more stringent regulations to regulate and use cryptocurrencies.

I think cryptocurrency like bitcoin is already an alternative payment since it is used as an alternative payment method in some popular websites. But most of the cryptocurrency doest really have a value in the market so probably it was just going to be bitcoin and some popular altcoins that are going to be available soon as an alternative payment in a few websites. Also since bitcoin have a high value in the market it is more like of an investment than a currency for me.

Yes, bitcoin has become or is used as an alternative payment in various countries and even though it has not been distributed evenly, and there are already some real or online stores that use bitcoin as their payment method.
and for now everything depends on their country of residence which provides bitcoin or cryptocurrency transactions as an alternative payment, but I personally prefer bitcoin as an asset or investment for the future.

actually there are still many considerations to see bitcoin can be used for mass transactions, maybe at this time there are still a few countries that do transactions with bitcoin but many also reject it. it takes time to see the mass adoption of crypto and bitcoin to be widely accepted for transactions.

bitzizzix

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Quote from: Bitcoinislife09 on January 12, 2020, 11:47:13 AM

Quote from: wack slacker on January 12, 2020, 09:05:21 AM

Cryptocurrencies will be an alternative means of payment if more and more people own cryptocurrencies. I think that if the cryptocurrency market continues to show signs of instability in the value of ICOs and ICOs, in the future, no one wants to own and use them. We need more stringent regulations to regulate and use cryptocurrencies.

I think cryptocurrency like bitcoin is already an alternative payment since it is used as an alternative payment method in some popular websites. But most of the cryptocurrency doest really have a value in the market so probably it was just going to be bitcoin and some popular altcoins that are going to be available soon as an alternative payment in a few websites. Also since bitcoin have a high value in the market it is more like of an investment than a currency for me.

Yes, bitcoin has become or is used as an alternative payment in various countries and even though it has not been distributed evenly, and there are already some real or online stores that use bitcoin as their payment method.
and for now everything depends on their country of residence which provides bitcoin or cryptocurrency transactions as an alternative payment, but I personally prefer bitcoin as an asset or investment for the future.

Bitcoinislife09

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Quote from: wack slacker on January 12, 2020, 09:05:21 AM

Cryptocurrencies will be an alternative means of payment if more and more people own cryptocurrencies. I think that if the cryptocurrency market continues to show signs of instability in the value of ICOs and ICOs, in the future, no one wants to own and use them. We need more stringent regulations to regulate and use cryptocurrencies.

I think cryptocurrency like bitcoin is already an alternative payment since it is used as an alternative payment method in some popular websites. But most of the cryptocurrency doest really have a value in the market so probably it was just going to be bitcoin and some popular altcoins that are going to be available soon as an alternative payment in a few websites. Also since bitcoin have a high value in the market it is more like of an investment than a currency for me.

wack slacker

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Cryptocurrencies will be an alternative means of payment if more and more people own cryptocurrencies. I think that if the cryptocurrency market continues to show signs of instability in the value of ICOs and ICOs, in the future, no one wants to own and use them. We need more stringent regulations to regulate and use cryptocurrencies.

drachman

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Quote from: julius caesar on January 08, 2020, 12:18:18 PM

There is no doubt that this is gonna be happen. We all know that our era is more on technology. So cryptocurrency is one of the best option because it helps every transaction much more faster than using a fiat money. Sooner or later, we will be using cryptocurrency soon for us to be able to adopt on our environment since it is growing day by day and almost everything is depending on the technology.

We all know that it will happen, but while the price of bitcoin has taken everyone by surprise by the speed at which it has gone up the adoption rate is still very low, most people are still not convinced to adopt this new form of currency most likely because they do not understand it and until this changes we are not going to see bitcoin be accepted as an alternate payment option especially when it comes to using your bitcoin in a physical store because as we know sometimes a confirmation can take a very long time to take place.

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There is no doubt that this is gonna be happen. We all know that our era is more on technology. So cryptocurrency is one of the best option because it helps every transaction much more faster than using a fiat money. Sooner or later, we will be using cryptocurrency soon for us to be able to adopt on our environment since it is growing day by day and almost everything is depending on the technology.

Wipeout2097

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Can not say soon but it will be in future,Cryptocurrency lovers now mainly use crypto as alternate option where they can access.In future cryptocurency will not be alternate option but first medium of exchange. Cryptocurrency is big innovation of the century and growing rapidly just need to create awareness in people.

Cryptocurrency is big threat for traditional banks and the government so still need to sort out the things and create ways use cryptocurrency legally.This is reason it will take a long time to be legal and access of common people.

ethergod

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Quote from: Asuspawer09 on January 12, 2020, 12:37:55 AM

Quote from: Sharon121212 on June 28, 2019, 05:11:42 AM

Yes cryptocurrency is already another option of payment and it's spreading like wide fire.
Alot where initially critical about cryptocurrency some labeling it all sort of names like a ponzi scheme, fraud etc but it has actual caught there interest

But want thing I can say is that we might see this giant companies like the OP has just mentioned that accepts cryptocurrency or some that has not yet started following the same way as facebook and creating there own coin.

Should there be a limitation to this yes cryptocurrency has created an avenue for a whole new way of trading and transaction should any company just develop there coin just because they had already gained fame and altcoins that has been in cryptocurrency for a while would die out this would cause competition and might build of to an avalanche of coins in the future.
bitcoin and some good number of altcoin are my point of fancy in the cryptocurrency community. am not interested in Libra coin(still sceptical about it)
If this faint want to venture into cryptocurrency there should make use of the existing coins and not corrupting the whole system

Yes, cryptocurrency is already an alternative currency since we could already use it in some stores online and even in some physical store you could also use bitcoin as an alternative currency. But still the number of stores or even online that is accepting bitcoin was just so little so I guess we need a lot more time for the bitcoin to influence a lot of big companies to make them it an asset or a method of payment. I think bitcoin and some popular altcoins in the market is the only cryptocurrency that is going to be recognized by big companies as an asset since there are so many altcoins in the market that has no value at all.

Quote from: DreamStage on January 08, 2020, 11:53:10 AM

There are already so many places where u can use cryptocurrencies as payment option therefore ofc where the soon is now.

Is some places you can only use cryptocurrencies. But due to not 100% of the population knowing what cryptocurrencies are they still have to make all other payment options available.

In the future i am sure something like this will happen as globaly and uniquely without fiat at all.
Even after a total fiat system collapse.

Agree bitcoin still needs a lot of time to completely influence a lot of places in the world also not all of the people are expose to technology like this bitcoin most of the time they are just aware of the traditional money.

Some of you people are putting the cart before the horse. The Lightning Network is still in its infancy and the scalability problem is not yet resolved. As soon as we have made progress such that the leading blockchains can handle thousands of transactions at a time, then, maybe then will we be able to talk about mass adoption.

Sadlife

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I think cryptocurrency being use as payment for services, that does not use P2P process doesn't benefit it at all, because when you pay for example Bitcoin once you pay BTC for a product it will be then be converted to fiat currency and why it's really bad is because BTC is known for its limited supply, so if people keeps using it and converting it to cash, will probably bring end to that crypto currency.

Asuspawer09

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Quote from: Sharon121212 on June 28, 2019, 05:11:42 AM

Yes cryptocurrency is already another option of payment and it's spreading like wide fire.
Alot where initially critical about cryptocurrency some labeling it all sort of names like a ponzi scheme, fraud etc but it has actual caught there interest

But want thing I can say is that we might see this giant companies like the OP has just mentioned that accepts cryptocurrency or some that has not yet started following the same way as facebook and creating there own coin.

Should there be a limitation to this yes cryptocurrency has created an avenue for a whole new way of trading and transaction should any company just develop there coin just because they had already gained fame and altcoins that has been in cryptocurrency for a while would die out this would cause competition and might build of to an avalanche of coins in the future.
bitcoin and some good number of altcoin are my point of fancy in the cryptocurrency community. am not interested in Libra coin(still sceptical about it)
If this faint want to venture into cryptocurrency there should make use of the existing coins and not corrupting the whole system

Yes, cryptocurrency is already an alternative currency since we could already use it in some stores online and even in some physical store you could also use bitcoin as an alternative currency. But still the number of stores or even online that is accepting bitcoin was just so little so I guess we need a lot more time for the bitcoin to influence a lot of big companies to make them it an asset or a method of payment. I think bitcoin and some popular altcoins in the market is the only cryptocurrency that is going to be recognized by big companies as an asset since there are so many altcoins in the market that has no value at all.

Quote from: DreamStage on January 08, 2020, 11:53:10 AM

There are already so many places where u can use cryptocurrencies as payment option therefore ofc where the soon is now.

Is some places you can only use cryptocurrencies. But due to not 100% of the population knowing what cryptocurrencies are they still have to make all other payment options available.

In the future i am sure something like this will happen as globaly and uniquely without fiat at all.
Even after a total fiat system collapse.

Agree bitcoin still needs a lot of time to completely influence a lot of places in the world also not all of the people are expose to technology like this bitcoin most of the time they are just aware of the traditional money.

DreamStage

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There are already so many places where u can use cryptocurrencies as payment option therefore ofc where the soon is now.

Is some places you can only use cryptocurrencies. But due to not 100% of the population knowing what cryptocurrencies are they still have to make all other payment options available.

In the future i am sure something like this will happen as globaly and uniquely without fiat at all.
Even after a total fiat system collapse.

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Quote from: omfg.xekcep on November 09, 2019, 02:29:22 PM

Quote from: growthincrypto on June 28, 2019, 04:56:41 AM

Just a month ago, giants like Starbucks, Nordstrom, Whole Foods, and AT&T announced that they accept cryptocurrency as a payment option.
With the popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.
Also, with giants accepting it as a payment option there is no other need to prove its authenticity.

Do you own any cryptocurrency yet?

Why not? May be somebody says "Nope, is is impossible to imagine that I will to pay in a store, on a gas station or even in a village by using cryptocurrencies" but I admit that it is possible. Anyway I am realist I know that there are a lot of unsolved problems. The fact is that crypto technologies outpace the current society state. What does it mean? It means that crypto technologies will come to our usual life just in time when we are ready.

Well in the furst place bitcoin is intended to be a replacement or in this case an alternate for fiat currency so it should not come as a surprise that bitcoin is used for commerce and purchase. This is a great step to innovation and hopefully if all things go right, bitcoin will be able to dominate the currency industry and in the end become the new form of money Satoshi Nakamoto intended it to be.

JessicaVL

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Quote from: growthincrypto on June 28, 2019, 04:56:41 AM

Just a month ago, giants like Starbucks, Nordstrom, Whole Foods, and AT&T announced that they accept cryptocurrency as a payment option.
With the popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.
Also, with giants accepting it as a payment option there is no other need to prove its authenticity.

Do you own any cryptocurrency yet?

Cryptocurrency is already an alternate payment option. Cryptocurrency can be used for all your daily spending habits simply by using innovative technology like Tap.Globals' prepaid Mastercard. Cards like these allow you to spend your cryptocurrency without having to convert it to fiat.

Ludmilla_rose1995

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Bitcoin and other cryptocurrencies have long been alternative payment options. Since 2014 I received bitcoin as payment at my clothing store because I like modern payment systems like this.

ebykamsiokoro

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Yes, I strongly believe that crypto is the next-generation payment option. Already, it's gaining foothold and popularity amongst the younger generation due to its largely anonymous nature of transaction, low transaction costs and speed. All in all, cryptocurrency is set to fully enter mainstream, it's just a matter of time.

red4slash

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Quote from: TinaK on November 11, 2019, 03:08:13 PM

Many payment integration application started their investment on fiat based international transaction possiblities. I am not sure how much this can work with the Bitcoin payment mode. There are people here also having some payment app and they aren't made the big impression towards us.

I also think it will be difficult to implement the bitcoin payment method because people still use crypto as an investment and to make their payment transactions using Fiat. so it took a long time to change the fiat payment method with crypto

TinaK

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Many payment integration application started their investment on fiat based international transaction possiblities. I am not sure how much this can work with the Bitcoin payment mode. There are people here also having some payment app and they aren't made the big impression towards us.

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