Bitcoin Forum

Do you think wechat money is better than bitcoin this is widely use in china and other countries around china, and do you think that wechat money ia the reason why they dont need bitcoin?
 
I read an article that china are now closed to achieved the so called cashless country using this.

 See this video. https://m.youtube.com/watcht=4s&v=cj2Fh8aX148

No. Wechat money, Alipay and other the same payment methods are centralized while bitcoin isn't.

Wechat money = China and nearby countries.

Bitcoin = world.

They are not yet ready to adopt it.

I disagree because I see the use of Bitcoin far wider than Wechat,

They only thinking their economy rather than thinking or developing a crypto currency that may use world wide. wechat money is so effective in terms of uses and only use in their country and nearby countries.

I do not think that wechat money will be so popular around the world, as I understand it's just a payment system (wallet) which are already many. Most likely it will be popular in China and near abroad. And bitcoin is already popular all over the world.

interesting information I think all is well and when told to choose between bitcoin and wechat I will try both, the opportunity to learn and see which opportunities are more popular in the community one of them the validity of the safe and easier access it I prioritize it, I will try it seems interesting , may be useful and successful for all of us

Nope, i dont think so. China is so afraid of bitcoins and cryptocurrency and they are doing everything to avoid its countrymen from using bitcoin because it is decentralized. They cannot contol it. China don't like it that they are not in control.

Honestly,, this is my first time knowing that wechat money exist and will try it out for sure.. I won’t take the risk on looking for it via search engine as chance of phishing link is all around.. So I’ll take time to wait for any opportunity it comes in my very face..

Nevertheless,, if it is true that it is centralized and controlled then the comparison of it to bitcoin isn’t an issue no more thence alongside that it’s not available worldwide.. Who’s the best?? It’s subjective and only a users can tell..

Isn't Wechat a Chinese messaging mobile app? If the company has a digital currency or a payment mean then it's centralized yes because a company wouldn't do a decentralized digital currency or a payment mean even as a second activity

Edit: After searching for this service I see it's just a digital wallet, linked to a bank account or Visa/Mastercard card. So you ca not compare with Bitcoin, the same as you can't compare an apple with an orange

As far as I know, WeChat is widely used in big cities. I don't think that people on the countryside use it that much.


I am quite sure that WeChat doesn't work with non-Chinese credit/debit cards. That's why tourists have problems with using it. WeChat, as you mentioned, is also a messaging app which can be used for getting the latest news.

Well I smell some real foolishness on this post. How can you really compare these two things?? Wechat money is absolutely different from bitcoin. It is merely a digital wallet which acts as a median to transfer your fiat money. Its not a currency in its own but just a means of holding fiat currency obviously it will be faster because there is no real movement of money or anything. Any country can achieve cashless economy using this but they cant make economy fiatless using this as the mainstream method of payment will still the fiat of that country. And yeah just forget about payments abroad.

Every competitor always claims that they are better than the other. It’s a marketing strategy. It is part of doing business and helps in selling their product to the public. It is part of the game. They have this saying “Staying on top of your competitor's marketing tactics is key if you want to be ahead of the game”.

Wechat is only famous in China. But the demand for Bitcoin worldwide is much greater with the need to use Wechat. So Bitcoin is better than Wechat

I agree with you. In my country, most people are unaware of China's Wechat application. But everyone knows Bitcoin's appearance

I do not think that China is afraid and hate Bitcoin. There are many great exchanges like Binance also made in China, and many famous coins such as NEO also in China.

This is the first time I've heard of Wechat. I do not understand is what Wechat is used for doing nothing. It may not be better than Bitcoin and blockchain technology

Everyone is opposed to your opinion. And I also oppose this idea. In fact, the world is investing in and using Bitcoin. Not everyone wants to use Wechat

In our local language we have a metaphor to compare between extremely good to extremely bad, given below,

কোথায় চাঁদ আর কোথায় পাদ !!

I really don't know the English translation of it. But comparing Wechat money with bitcoin sounds similar to the above mentioned metaphor in my language. They don't even belong to the same league so comparing between two is a secondary matter. A centralized bank funded payment processor and a crypto currency has very little in common. I believe OP is lost somewhere in the middle!

I don't think so that wechat money will be famously use for all people in different countries because bitcoin is the first currency made so bitcoin will lead up no matter what happen if there is new version of digital money.

Nice explanation the decentralization of bitcoin is the game changer it is not connected to any company so it can get it's price without relying on someone. Wechat isn't even crypto so it is useless to compare these two wechat isn't versatile but bitcoin is.

Wechat pay is completely different to bitcoin.

It is centralized, it is owned by a corporation, and it represents value in fiat. Essentially, it is a mobile banking system which is just a lot more convenient compared to the traditional card system, hence the reason why so many people have adopted it within China and we even see a lot of businesses accept it globally.

Bitcoin is decentralized, and independent from fiat. However, the level of adoption is obviously not as high at the moment as WeChat Pay, or Alipay for that matter.

Does it mean WeChat pay is better than bitcoin? No, it just means that WeChat Pay has a lot more adoption.

For long term store of value I'd go with bitcoin any day, because it isn't centralized. With WeChat Pay not only are you holding a depreciating asset with the supply constantly debased, you also have a huge counterparty risk in WeChat potentially holding your funds or suspending your account. These are issues that bitcoin does not have, and are far better.

Of course, though, it's unlikely that anyone is going to be able to spend their bitcoin directly with as much ease as with WeChat pay, but that will improve as adoption increases.

Real talk , i just find that we chat has its own money though i havent use it in my daily life but i already heard it so for me it is messaging app but i dont know that it has a sort of coin of it now if we do compare wechat and bitcoin , im pretty sure that bitcoin has a better value and also most famous because of its price and ability to earn with it also to do trade with it. But wechat is really used by china which we could say that there are a lot of user of it and recognize by it, bitcoin is not really used in the store or by means of payment.

 I know wechat but its my first time to hear its already had a coins. Wechat is just like Messenger a messemger engine that can connect with other people all over the world, but I did not know what is the used of its coins though. However, I think its just for a payment for load or buying for a other features. I do not think Wechat money is better than bitcoin because bitcoin is prove and tested effective in every transaction and I do not think Wechat can defeat bitcoin.

WeChat is China's most popular social software, used by 1 billion people!
WeChat payment is also very popular mobile payment in China. There are many discounts for using WeChat payment. The most important thing is that WeChat payment does not have any transfer fee and arrives in time!
So almost no one in China uses BTC's payment method!

Nah.! The vedio clip you shared is just an advertisement using WeChat. If you are advertising something you should make it look good and interesting to the eyes of the viewers. Bitcoin would be better than any other online currencies.

Lol do you even know what is WeChat money? 😂 WeChat money is totally different to bitcoin and there is no way you can be comparing both, cause they are totally different. WeChat Money is just like PayPal and Payza and the rest of them.

Bitcoin is different and is an investment, so you should be comparing it to stocks/assets. Comparing it with WeChat money is just like comparing it with PayPal and the rest of them are mainly for payment

Behind the payment of WeChat is state capital support, so the government promotes the payment of WeChat!
The essence of WeChat payment is the mobile payment method of legal tender!
And BTC is banned in China!

I disagree, because bitcoin and WeChat money is totally different. WeChat money is only can be use in china and nearby countries and behind the payment of WeChat is state capital support, so the government promotes the payment of WeChat. But bitcoin we can use it for payment and trading worldwide, not only in 1 or 2 or 3 countries.

when discussing china, this country is very unique, they make artificial innovations to survive with their own products. one example is wechat money. but i think it has not been able to rival btc

Bitcoin is better, because it can be used in many other countries, in contrast to WeChat.

Such is chinese, he likes to create something similar.
Bitcoin is new money for the whole world. Bitcoin which started the Cryptocurrency era worldwide. Look now many people are benefiting from Bitcoin, They easily send money to various countries with bitcoin, they can make money in the Bitcointalk Forum.
Bitcoin and WeChat Money can not be equated.

You see WeChat Wallet is only a payment method in short it is not a kind of cryptocurrency but a form of fiat currency turned into a digital payment. So the value or price of your load in your wechat money does not change as it reflects the value of Yuan. That is the main difference I see when it is comparing it to Bitcoin as I don't think you can validly compare the two on who is better or not. WeChat is simply another means of a debit card but instead of using a card you are using your phone in payments.

Why compare these two together? Do not know if you understand its use or not but compare. One that uses media for communication, and one for money for financial markets. : ))) humor.