Bitcoin as payment system

[bitvalak]

We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model.

How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day?  

And how do you see it's future?

Of course, if bitcoin is the time to become a valid payment instrument why not. Many of the convenience we also get from bitcoin if it really becomes a means of payment, and of course more transparent transactions.

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[rfcdejong]

If bitcoin becomes a payment system, then we will wait for a long time to confirm the payment. Also, a coin with a large volatility is not the best medium for payment. I'd rather use cash or a credit card.

[coinfinger]

The fundamental principle of Bitcoin states that it is a payment system and provides better features as compared to that of our traditional fiat infrastructure. However, since it is in the development phase there is huge volatility going around and things are unclear so that opportunists are taking advantage of the same and earning speculative gains from it. However, we should always keep in mind that Bitcoin is a payment system and speculative gain is a by-product of the development process.

This is a great idea and it will be possible soon in future, but the most overwhelming news is some of the institutions have started accepting bitcoin as a tuition fee  and some lawyers also accept payment in bitcoin, these all steps are paving the path for bitcoin to replace regular currencies in future and to be used for buying and selling in daily life instead of paper money

[Dakshkapoor]

Yeah, It is really a good idea and it will be more beneficial for making online transactions by using Bitcoins.By this method we will be able to send bitcoin to the every corner of world and may be this will attract more people bitcoin because by this method there is no insecurity here and there will be no such problems in handling cash. This process will benefit more people because Bitcoin is not stable and its price is increasing day by day.

[fulmetal08larz]

Well, as for me, I have been using bitcoin as payment system for quite a while now. For example, when buying coffee, my friend have some cash and I forgot to bring mine, what I do usually is just to use bitcoin and pay for what I owe to my friend. It lessen the hassle of falling in line to ATMs to withdraw money. I hope that this kind of system to be adapted mainstream someday, which I think is very soon.

[TorbiK]

Too expensive and costly is the payment system. Millions of dollars to transfer with Bitcoin smartly, and for transactions less than $ 5000 it is not profitable.

[brott]

Bitcoin as a good payment system if applied all over the world but not to replace the existing currency .. it will make it easier if we walk to various countries, just scan barcode and payment is complete.

[ujjwalsethi]

It is not completely implemented but soon we can see it as a payment system. It will be a great thing which will be implemented in the coming future and will be very easy means of Money. It will help people to digitally transfer money and many more.

[DaftAjax]

We all know that Bitcoin is one of the best ways to invest your money. However, we know that Satoshi wanted to change money as we know it rather than new investment model.

That would probably the main goal of Satoshi, but then again what if he just wanted to have a currency that can be used as the user see fit, but it so just happened that its currently the most expensive currency in the market, that's why many people see it as a model of investment.

How do you think, will we be using bitcoin as payment system? Or it will stay as it is and this bubble blow up one day?  

Let's face it, eventually the bubble will really going to explode as it reached the last drop of Bitcoin that could be mined. But as a payment system, well its currently in the Beta seasons, as few countries have just accepted it as their currency, but who knows it might end up as a disaster or maybe it could be revolutionary.

And how do you see it's future?

We really can't see the future, but we can always predict what's going to happen, as long as it will be as close as it should be then its fine.

[Fancyax]

Bitcoin is already used as payment system. People are turning more to investment because of the insane rate of price increasing this year.

[Habz]

Bitcoin has more than 1 issue with it, scaling, it needs to be able to cope with mass transaction daily, if it is to gain mainstream adoptian. security, right now this is vital too, in the sense that if people were to lose crypto fraudulently, then there is nothing in place to prevent this from happening or even reimbursing lost funds, just like the centralised banks. Volatility, it is bad for business, when an asset shoots up or down too much, just like btc doing now, this needs to be bettered. user interface, right now using the platforms which deal with crypto are somewhat difficult, especially for the non tech savvy individuals, it needs to be more user friendly, just look at EtherDelta, I personally went through a lot learning how to use decentralised platforms, lost some ether in the process too.

I think these problems with crypto will be ironed out, it’s not a matter of “if” it’s a matter of “when”.

[normanderecho]

Bitcoin is already used as payment system. People are turning more to investment because of the insane rate of price increasing this year.

For me bitcoin is a safe transaction and There have to accept bitcoin payment like online and your bitcoin will be trade your currancy.

[Protected101]

Bitcoin is a good payment system because many people are enouraging here because of its price that increasing and its good thing to know that being a payment method of bitcoin there are many features to invent.It was a safe transaction and secured for online payment.

[GirlBitcoin]

If selected the best form of payment I would choose bitcoin because of its anonymity and speed. You will not have to carry anything else besides remember your password bitcoin wallet and you can pay all over the world.

[Alexandr210774]

It would be very cool, and plus the fact that transactions are not tracked that would be very good for people. But, a certain amount of bitcoin, and this number will peak in 2020, as far as I know, and then what will happen, what will happen with the payment system? So it's not taking into account the fact that there is a need to greatly reduce the time of the transaction.

[senin]

But in order to make bitcomun a good payment system it is necessary that the problem of low bitokoin bandwidth be solved. About 200,000 currently hanging transactions in bitcoin, this does not honor the leader of the crypto currency. Seven transactions per second are too few for an increasing number of transactions. If bitkoyn does not solve this problem, it will simply turn into a value store, but this value may fall as people switch to more successful coins.

[maariyaam]

Actually, me as a newbie I really think it is a bubble. But I've read something that they are not because they are backed by mathematics. But I am amazed if one day it will be our new currency. Imagine a world without a tangible cash, it is cool.  

[Luthien]

There are many benefits accepting Bitcoin as payment if you are a merchant. First is that the processing fees are paid by the sender, and the merchant pays nothing to receive funds. These fees are considerably lower than traditional payment networks. It allows you to send items worldwide without currency being a limitation. It allows one-way transactions that cannot be reversed as this is how Bitcoin works, so the merchant is not at risk of a chargeback. It is gaining traction so is more likely to be an easy payment method to accept in future, and there are no subscription or monthly fees for using Bitcoin directly, unlike traditional bank accounts and payment processing networks.

[syana]

BTC as payment.... Don't you think that the volatility of BTC will scare companies to implement payment in BTC?

[Domenc]

I will definitely Bitcoin as a payment method but only for transactions across border and at places where I don't want to reveal my identity. Bitcoin can help in making anonymous transactions across the globe and finally we have a payment system which really care for our privacy. But if I need to make payment for small expenses I would not prefer Bitcoin due to its high transaction fees or otherwise slow transaction speed under less fees.