Bitcoin Forum

Bitcoin is going to be number one payment gateway in near future.Most of the online payment gateway will accept bitcoin as main payment option.

Bitcoin is a long way away from being the no 1 payment and it may never get there. Firstly it needs to be an option before it can become the no 1. If it's a viable alternative to VISA for example then in time it can steal away the flow of money and replace it.

Thanks friend for a great thinking. Absolutely its only possible when Bitcoin will integrate all safety for users.

I would rather vote for other coins, but I am sure that while lots of other coins die, bitcoin will be more powerful day by day. But whether it is going to be number one payment method is arguable.

Well, I do agree with that statement because bitcoin is the first and the only platform that allows digital transactions and it is much more powerful then other altcoins and has a reliable lifetime frame. In near future it will overcome the paper currency and normal bank transactions. I have read many online ecomerce stores allows Bitcoin as a payment gateway if I am not wrong.

Well that's what Satoshi's vision was, that bitcoin to be used as a micro-payment scheme, sadly though, it has become just a store of wealth or as a form of investment and currently the whole scaling issue is still up in the air (although fees drop signficantly and the network spammer has stopped).

Maybe in LN would have been implemented, and it brings fees and network congestion to a minimum, then maybe we can see bitcoin being used as mode of payment in the future.

Bitcoin is in its early stage, i think it will take a little more time to achieve its goal for which it has been created. Currently in few area people have the facility to use bitcoin for shopping online or in their local area. Although in some area people are using bitcoin for shopping in their store, but still majority of people do not know anything about bitcoin therefore they first need to get awareness about bitcoin and hope that then they will start taking interest in bitcoin.

I think it is very likely. There are currently many countries that allow usage and have explicit rules of use. I hope the btc price will be stable then it is the popular payment gateway.

which other coin you know that is used as a "currency" or a payment method? none!
well to be fair there are some usages for some coins like Litecoin but that is all, they are not big enough to be considered real usage. and these altcoins have been around long enough to have some real usage but they do not have it yet and there is no reason for that to change in the future either.

it is a sad truth but unfortunately altcoins will remain speculative tools for a very long time because they are designed for that purpose not for being a currency purpose.
but bitcoin is designed to be a currency first then it turned into speculative tool, that is why it is always growing despite all the volatility and all the drops,...

Bitcoin BTC is still the first choice for digital payment. If countries legalize the cryptocurrency then sure shot bitcoin will beat all other currencies.
Countries must understand the future of blockchain technology.

I don't think bitcoin can replace traditional payment gateway .. but other altcoins can do that... that's mainly because bitcoin needs 6 confirmations which in average takes 30 mins .. ranging from 12 mins to 1669 mins
here is the average confirmation time for last 30 days
https://thumb.ibb.co/ipqivH/bitcoin_conf.png (https://ibb.co/ipqivH)
so one cannot wait that much time waiting for their order to confirm

On a first thought, I could say bitcoin might not be able to wear that responsibility because of its disadvantages plus those disadvantages peculiar to cryptocurrency. On a second thought, because bitcoin is not manipulated and its maximum supply still remains at 21million , it could be an advantage because traditional fiat users sees fiat not to be manipulated.

I think that, that is one of the best thing that could happen to bitcoin and with how we are trending towards a cashless system and much more convenient financial system. I think that bitcoin actually has a chance on what to do and what to achieve as bitcoin has the power and the weight of the cryptocurrency market and its price value though it has suffered through some dips and some very low lows I teally think that bitcoin has much more potential than anything

If you compare the average 30 minutes transfer time of bitcoin to cash, it's way too long to wait. If you compare it to 2-3 days international SWIFT transactions, it's really quick. You can decide what kind of tool you want to use for different needs. When the Lightning network will start and spread, the whole thing will change, because it will be the competitor of cash by then, but we need to wait for the LN because it's still under development. Until then, bitcoin will not be the competitor for the giants (VISA, MasterCard), nor to Paypal or AliPay. We can prepare for the LN implementation with starting to use segwit enabled addresses.

It is hard to belive that since bitcoin has many disadvantages for merchants like high fees and high volatility. We can solve the problem with the volatility because merchants can accept payment from different system that instantly exchange bitcoin into cash for them so that the buyer pays with bitcoin and the merchants receives cash but then we have to add the fee for exchanging that bitcoin is not little wven though it seems like 2-3% fee is low when we calculate a big quantity of money they lose a significant profit. Bitcoin will be used in the future for payments but it may never become the number 1 payment method.

im not so sure.
Governments and banks would do the utmost to prevent it after all
they have no control over it.  ATM there are too many issues yet to
be resolved with BTC to even come close.

It would also need more adoption, a hell of a lot more.

I do hope so that your assumptions are correct. I think as soon as bitcoin's high volatility rate had been taken care of and it's value stabilizes, there wouldn't be any problem anymore. Bitcoin could become a currency. Bitcoin could serve its purpose once and for all. Just have to wait and never panic sell to ensurr bitcoin's success in the future.

this is very true because i was pleasantly surprised when i found out that even people in rural Jamaica was deeply involved in crypto trading its clear that this method is the way of the future its clear the merchants are really waiting on the demand and usage to increase because from all indications the merchants are willing to accept this form of payment but the current  level of usage is what is slowing the progress....people lets spend a portion of the coins we have, don't hold everything cause that's really not helping you in the long term .The more the acceptance and usage of bitcoins increases the more the price of the coins will increase as they are limited in numbers and this will push up the price as demand increases.

...but. when you look at LN with its cltv which can be a couple days, and the csv which can charge back... LN becomes no better than swift

Absolute accurate. I don't think there's a way where money will BE replace and also think Bitcoin is not going to in the top 3 preferred methods to pay. We already have several methods to pay online, therefore I believe is just going to be one more on the pile.

I agree, only Bitcoin has been proving itself as a digital currency and can make an alternative to fiat money one day. Though, in my opinion, it's too far from being a payment gateway whatsoever.

With the features that Bitcoin has on a  day, it will be the number one payment gateway chosen by customers.
Bitcoin offers an optimal solution for emerging markets at low cost and it is important not to be under control by any company or government.
Bitcoin usage worldwide is becoming more and more popular and many people are using digital currency for everyday transactions. Because Bitcoin is gradually accepted by many businesses for online payment.
Adding Bitcoin as a form of payment for services and goods will open up the broader business market than ever before. In addition, digital currency has a much smaller transaction fee than traditional credit cards and is a decentralized currency for people rather than funds owned by governments or corporations.
People are easily, conveniently, economically, safely and universally scaled throughout the world. Moreover, some areas where people pay with Bitcoin are also discounted%