Bitcoin Forum

As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?

Many many payment system using blockchain such as XLM(Stellar), XVG(Verge) and ...etc

smart contracts aren't really complicated things that requires some weird advanced or dedicated thing. it can already be done in bitcoin to some extent. but since bitcoin is a currency having things like what you see today in form of Smart Contracts is not really wise on bitcoin.

in any case there are works being done to add such features but as side chain (if i am not mistaken, or maybe second layer). long story short if you are interested in this check out RootStock www.rsk.co which is what i am talking about.

I also prefer to use bitcoin for transactions because in time as well as other things bitcoin has a better advantage, it's the one that makes the attraction for me.

I think more than 1 system ;D

BTC is actually not very practical for payments and transactions for 2 reasons :

* High transaction costs
* Slow confirmation times

Yes absolutely right! but if you and merchants can use coinbase then it's going to easy and super fast.

I think if the payment entirely using bitcoin I think many problems later on so payment via bitcoin it seems to me if the payment through the bitcoin then cash no and the person who cannot do online transactions will confused and cause a loss as a lack of food and many more.

Most of DEV learn to code anything using smart contract such as a payment system ;D

.. but if your using coinbase... then you back to using third party systems again... which negates the whole point and purpose of what bitcoin was suppose to be about

EG
if your just going to swap 'balances' within coinbases user database you might aswell just be using paypal.

funny part is that if coinbase/bitpay say that they can send a merchant a FIAT wire transfer the next day.. it just proves that the FIAT wire transfer only takes a day

the whole point of bitcoin was that merchants should directly accept bitcoin for their goods and then that merchant pays salaries and its suppliers in bitcoin the same day. without the need to put funds into an account/address/channel that requires another persons agreement/control/signature

just having bitcoin as a asset currency but rely on third party services as they payment method/gateway/route makes bitcoin no better than fiat as a currency. which then just reduces its utility to be just a asset

BTC's last use should be as payment and investment, BTC as payment method, which can be more acceptable.

Bitcoin is likea  currency however smart-contract is a protocol intended to verify or facilitate a credible transactions or in more simple words agreement that can be enforced through a blockchain.

Bitcoin protocol can be used to create smart contracts. https://particl.io/ is doing this by using Bitcoin-based smart contracts to manage funds in their trustless escrow.

You can read some details here https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/

Bitcoin is still evolving multiple solutions are on the table already like SegWit, Sidecahins or Off-chain. We should give some time and best out of it will come yes these are the current issues but theseare  solvable. Bitcoin community is working to hard address all these.

Yes I think bitcoin is great for payment tools like bills, because it makes it easy for someone to invest and pay, but not all of our bills can use bitcoin like paying for school....

I think bitcoin is suitable for large payments. With Bitcoin you can conduct transactions all over the world extremely fast at extremely low cost, guaranteeing privacy and high security. Particularly, in addition to the purchase, you can also create your own Bitcoin thanks to a powerful enough computer.

Bitcoin can be used to pay for the following benefits:
- Bitcoin makes trading happen fast
- Bitcoin trading at extremely low cost
- Confidential information can not be stolen using Bitcoin

I think bitcoin is only suitable for paying large amounts of money because the bitcoin value is quite high. It is difficult to buy a bottle of water that you use bitcoin to pay

It isn't something that is impossible to do in terms of technicality but if you take into consideration all the current issues of bitcoins today, it would be hard as fuck to use it as a Smart Contract-like coin that you are saying. It just can't work as long as these issues that bitcoin has or drawbacks like waiting time for confirmations and high fee transactions.

Thank you all for your inputs, i'm learning more and more :)

 ;) ;) I think we will be able to use smart souvenirs in the future.  ;) ;)

It will remain a useful investment tool and comes with such a global payment facility. Will Bitcoin in the future appear in grocery stores?

It is not difficult to put a smart contract into bitcoin, which is important to the community of bitcoin users. Bitcoin is the oldest and largest ecosystem in existence and is being developed to be able to trade more quickly and with less transaction costs. In the future it may become a valuable storage medium such as cryptocurrency gold.

In the beginning when Bitcoin was introduced, everyone was talking about the multi-function coin, which can be used as a currency and a commodity and also for smart contracts. The smart contract thing never really took off and other coins like Ethereum focussed their development to specialize in that and it basically because the default platform for smart contracts.

I am not saying Bitcoin cannot be used for that, but there are better coins out there now, which might be better suited for that.  ;)

Payment system or to b place for investment and trading is depend on someone who have bitcoin, because bitcoin can be used both. But for now about 70% bitcoin is used by its users as a place to earn money and only 30% is used for payment systems. The reason is that bitcoin has not been accepted by the whole country and some even call it illegal but that bitcoin price change so fast will make all users think more to use it.

A smart contract on which Blockchain? As far as I know, the smart contract allows developers to create a market, give instructions to move funds and many other things without a middleman/Counterparty risk, I never imagined a smart contract could get adoption like Bitcoin as payments, but everything is possible when talking about the future

Bitcoin is form not only for using it as payment, it can also use for investment. But the main purpose of it is by helping us to have a much easiest, fastest and much convenient way of doing or making transactions.

Just to elaborate more on the subject, high transaction costs are mainly due to miners when they confirm transactions under the blockchain technology. The reward that they receive in return for confirming such transactions are relative to the amount of bitcoins they confirmed. Even in the transaction speed, they both posses a direct-proportional relationship between the amount being confirmed and the time being processes. Not to mention, its high volatility makes it a risk for both the consumer and the producer in purchasing products.

What most individuals fail to realize and maximize is the use of bitcoin beyond from the investment perspective. Since it utilizes the blockchain technology as its platform, they tend to take for granted the security granted by it since no one can tamper, alter, or change the information under the blockchain since it is being monitored by a network of computers. Hopefully, the government and some establishments may utilize bitcoin as a payment once they solve the aforementioned problems.

BTC do transaction not only for payment but also investment, all i can say that BITCOIN was accepted in the Philippines as payment and as investment for those who earn profit for joining any campaign.

It can be used as payment for different online stores but I do not try to used it on offline stores to pay because the price is unstable and rather used it as an asset. I keep it and wait for good time to have good price and get more expensive, I also earn from campaigns to add for the amount of holdings.

It is solely.more on payments as it is the only majoy path altcoins can be acquired. Sooner than later, this purpose would be defeated as projects that won't need bitcoin to acquire their assets are coming up gradually.

I think btc is not a good option for payment for now sole because it is not still that stable.and with high trasaction fees

well your topic is very interesting but if that is happen they maybe some instance that it will be slight complicated with the others, however if its that happen what will happen to the other alt coin like ethereum and xrp and others.

A smart contract is an agreement that can be enforced through a blockchain. One of the major design goals of the Ethereum platform was to support smart contracts. From the start, this set Ethereum apart from Bitcoin, which was created first and foremost as a digital currency platform. The Bitcoin blockchain is not known for its ability to enable smart contracts. In fact, most developers creating smart contracts use a different blockchain, like Ethereum

I think Bitcoin will lack on the thing about a payment system since the prices moves a lot everyday. But we can always find a good and different coin for that kind of role.

in my opinion such a possibility also exists. but also we can not be sure when it happens.
and also there is still no written certainty.

The main purpose of smart contract is to initiate and complete deal on a network without the influence of the third party and without the room for disapproval. Smart contract can serve many functions that varies from payment, voting system etc. BTC is for payment while smart contract serve so many other functions.

In my opinion not only Smart Contract can be possible as a Payment system - the cryptocurrency will have to offer. That's just one of the closest to possible possibilities. Cryptocurrency for me still is too early to be able to fully utilize its potential. Still have so many issues yet proving itself being useful either way.

As of now, we just have to accept how things operate. It may not be close to our ideals but atleast it has been a big impact to our economy so far.

Make BTC payment as fast as possible, your contract is extremely powerful, can be used as a currency and a commodity and also for smart contracts. The smart contract never really took off and other currencies like Ethereum focused their development to specialize in that and basically because of the default platform

i think we need other payments like ETH don't focus only in BTC .

To solve all the payment you can go with the bitcoin alone. Smart contract is actually go to update the project with the payment in smal circle. Those tokens cannot beyond bitcoins for what so ever. Please think well and invest on the smart contracts before you invest on it.

Because I knew many friends who invested on scam projects and some project does not reach the soft cap as well bro.

bitcoin is a convenience in all transactions and security that can be maintained reputation, so for investment and exchange is very perfect and good

Have you ever paid for goods and services by bitcoin? Have you ever seen someone buy something or go to a supermarket with bitcoin? I like to buy the item that payment payment by bitcoin

Blockchain technology is extremely excellent and Bitcoin is a very classy product of this technology. Bitcoin, if widely used in online payments, would be a revolution in the way people use cryptocurrency. I hope that the day that the world uses Bitcoin in payment will soon happen in the next few years.

I am well convinced that with time bitcoin can be used for all transactions. As for smart contract it does not actually require complicated, advance things. It already incorporated in bitcoin to some extent.

Those tokens cannot beyond bitcoins for what so ever. Bitcoin blockchain is not known for its ability to enable smart contracts.

Companies from different Industries, Political campaigns, and many more Services are accepting Bitcoin as a legitimate source of payment moreover, people around the world have also begun accepting Bitcoin as a medium of exchange, since there are many implications to Blockchain Technology

at now there are many system use blockchain payment like ETH, XLM, NEO... BTC payment is one as them.

Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low.

No Bitcoin is not a payment scheme as others might what to put it. The price is not stable and then the cost of transaction fees. Today its been look as more of a store of value or investments. There's nothing wrong though, but to make it a currency, we need some form of regulations though because it can be adopted globally.

Absolutely agree right and your opinion coinbase is the good transaction and super fast for the bitcoin.is the two ways good and easy.

In addition to easy payments, the technology that BTC brings to many other applications where Bitcoin currency is just one of them. For example Application for land registration, notary, contract Intelligent (automatically allow or cancel transactions with some pre-programmed conditions), domain registrations, voting processes, ... when algorithms become more reliable than secondary parties three (which may not be reliable due to corruption). Blockchain technology allows strangers to trade safely without mutual trust.

I see that bitcoin is more often used for exchange transactions between other coins and low coins. but for the payment is still within the minimum volume limit, because if for payment must involve the approval of various parties.

Smart contract will be applied in many aspect of life  such as ,cryptocurrency, mediacal industry, supply management, real estate...

Because of the blockchain bitcoin appeared or was created, correct me if I'm wrong with this thoughts of mind. Then, as time goes by there are many blockchain appeared aside from bitcoin, we have Ethereum erc20, Xem or known as Nem, Neo, Waves, and Xlm or Stellar.
Those are I think in the near future will become more useful in our entire planet.

One of the advantage of it is, doing transactions more easy, or easier in which you do not have to waste more time and do mot waste too much effort. With bitcoin you only need some clicks that will lead you in finishing transactions in an instant. This is the future of everyone I believe.

Bitcoin is more convenient to pay for the product, and a smart contract is more suitable for concluding contracts for example for real estate.

BTC is more than payment bro! BTC has more functions for the future. bitcoin is recognized by many people today as a place to save assets.

the bank has lost, the bank is not a solution for the future. banks cannot make consumers satisfied. and bitcoin will replace the Bank's position.

so, BTC is not just payment.

On my knowledge bitcoin has limited script possibilities for security so its not possible to create real smart contract in bitcoin.
In ethereum its possible, because they have more advanced script but with possibilities comes also harm/danger. Ethereum faced many critical bugs that bitcoin didn't. Bitcoin is more about reliability and security than innovation. Im for caucious aproach.

The slow conformation times and the transaction cost are a big hindrance to bitcoins usefulness in day to day situations. It is fine for big ticket items-such as real estate where the paperwork can take weeks or even months, but it needs to be a whole lot faster and cheaper to take it mainstream.

The reason for the high transaction costs and slow confirmation times is because of the block size which is very small and thus makes the network congested with unconfirmed transactions which drives the costs up,

Bitcoin for now is good for payment because the value is low. They are still in the stage of recovering.

owh, of course, the bitcoin application will be more perfect in the future, we will see bitcoin spread quickly to play a role as a place of investment, transactions and even the world trade exchanges.

then bitcoin will live in the law of legality that maintains bitcoin's popularity, and maintains every crypto user.

I think that Bitcoin is more suitable for hodling and trading on the  exchange and for payment I would choose Litecoin. It is faster and has less commission. I think that Bitcoin in its current state cannot be a means of payment. Bitcoin has problems with scalability.

I don't think so that it cannot be meant for payment. Who started this whole crypto idea? and what coin did the very first transaction and paid with? bitcoin isn't it? If you see the scaling problem with bitcoin, lightning network is about to come. Just because the use of bitcoin is increasing as a store of value, it isn't good to use as a medium of payment? no, its still applicable and I'm even using it when I purchase something online.

in the future we wouldn't see about bitcoin payment only, i think in the future we still use the FIAT currency but, the second option is in a digital currency, one of the digital currency is bitcoin and cryptocurrency, i think it will be like that in the future

Right now, bitcoin fork that already announce they will have asset layer is RavenCoin. I think its like ethereum but working on bitcoin network and protocol. It will be great for market in near future

I think that using Bitcoin for payment now is a good idea,


And I'm really happy that there has been an increase in the number of offline venues accepting it as payment

you can read very interesting article here:
https://fortunejack.com/blog/article/bitcoin-hotspots (https://fortunejack.com/blog/article/bitcoin-hotspots)

Bitcoin is widely use as online currency. Bitcoin online transactions  is one of the most used facility in this time. All the payments which are done by the help of Internet are done with bitcoin. Bitcoin provide its user an safe, secure and fast transaction facility. Because of this many businessman and online retailers use it for their business purposes. Many online shopping sites also accept bitcoin as a payment method because of bitcoin high popularity among people. Bitcoin is also use for tickets booking, hotel booking, for paying rent etc.

I think that in the nearest future we will find many other uses of BTC. It is the best coin ever and i think that it is a good system of payment which can provide us with many advantages

I agree with both of your arguments. And this just points to the fact that e need a radical change before we see crypto payments fully implemented across the world.

ETH has a future too. There's an ERC20 in it as well. Maybe ETH does. But somehow, BTC is still on its high peak.. In the future, not only BTC will still be alive. There are a lot of Cryptocurrency out there that maybe, after 20 years, some of them are still kicking. But for now, the best thing to do is invest. Since we cannot control the price of the currencies.

if you create a convenient payment system directly cryptocurrency, I think it will be popular

Well there are many sites which accept Bitcoin and Ethereum which are the most accepted cryptos for payment options

Bitcoin is an digital money , where you can send money or pay someone for their selling item online. It is the fastest way to buy and sending without any stress 😊.

Actually i don't see btc as a payment system right now.
People using btc just like a commodity to trade each other and take short profits.

It is good idea. BTC payment is always safe. now BTC is very attractive. BTC transaction is fast and secure. you can using it. you can invest in. I like BTC.

good you have to learn how to trade in bitcoin and how to buy bitcoins because future is on bitcoin.
 bitcoin will be used in future trading and in business also.  ::)

BTC is a future currency you have to invest in it the future is now bitcoin has future in it invest in it and get profit for free
 : ::) ::) ::) ::) ::) ::) ::) ::)

bitcoin helps you to be safe from getting your cash lost or stolen it is future currency everyone should invest in it all have to try\
you will get profit less chances of loss.

in my opinion, it might happen that making payments is only with BTC, because it is seen from the beginning that many merchants, especially in the world of mayap, have begun to implement payments with btc in their store, but from my personal opinion the payment for now requires a lot of development so in the future it's even better

You might see this smart contract things by the end of next year as I have heard many things about this and I am sure it will be seen very soon.Btc are already used as payment option and many other coins are being used but not with full conviction.

I like the idea of a smart contract, you create the smart contract test it and then it can work on it's own, more of like a robot for businesses. I hope we have that option on bitcoin too. It will be a great feature.

Payment with bitcoins is very convenient and profitable I think that in the future every online store will accept it for payment as the user on the network becomes more and more every day and the payment will not require the intervention of third parties !

Bitcoin is indeed more practical and effective, this makes it easier for sellers and buyers in transactions especially long distances. With the payment of BTC, it can make BTC more useful and high-efficiency throughout the world.

https://www.dropbox.com/s/wvn45hn8owldzle/Hashpay.pdf?dl=0

Good OTC payment method.

Most of the card companies that allow BTC payments take charges for kind of every service they offer.
Charges of Shiftpayment Card
Card Issuance    $20.00
Domestic ATM Withdrawals    $2.50
International Transactions    3%
International ATM Withdrawals    $3.50
Card Replacement    $10.00

Already I pay a hefty percentage on converting my fiat to bitcoin. At least, for now, it's not viable for me to start making payments with bitcoin.

People commonly use it as currency and they use in mode of payment when it is allow in a offline or online store. Bitcoin is more acceptable an asset or investment and I usually use it an investment which I tend to hold in couple of months and when I see price goes I tend to sell it out and then I can earn profit and I will repeat that cycle.

The usage of bitcoin as a payment system was one of the primary function of bitcoin and the blockchain is design for decentralized transactions that does not require third party involvement that is the eradication of middle men in carrying out financial transactions, bitcoin also help to minimize the transaction fees in sending and receiving money.

Even somtimes there are slow confirmation of transactions still it still good in a new form of paying method. As you can everyday there are tons of transaction so because there are time we will face slow confirmation sometime it takes couple hours or days.

besides being profitable, payment using bitcoin can be done from anywhere and can be done by everyone using the internet network. up to now not only the type of digital currency in the form of bitcoin which can be used as a payment option, there are also other types of altcoins that are trying to develop payment options, but bitcoin has a far greater popularity than other platforms.

Yes there are other type of crypto's that can also be used as a payment but for me using bitcoin should be considered. The fees are low as of now and there's no congestion in the network.

Bitcoin could be as payment only if some country have regulation and legal for using bitcoin as payment transaction, but right now too hard for getting bitcoin as payment and legal transaction.

I think bitcoin has been used as a payment tool on the internet since the price was there. well, but to be used directly, it is still difficult to obtain because it is contrary to government regulations regarding fiat. it may be true, that bitcoin can be used as a payment tool when the government issues regulations for this

Maybe if a lot of online merchant accept bitcoin, it will adopted in offline merchant too and retails. But until now, some merchant that accept bitcoin as payment reduced and i not see a lot of it anymore.

Bitcoin is usually use in payment method still there are many ways where you can use bitcoin. But, some people prefer to use an investment because they want to make money from money. Somewhere in the future we can make bitcoin as currency where it will acceptable in all kind of transactions.

bitcoins for payments is helpful as it is quick and easy  ;D