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RKSummer
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January 13, 2018, 12:59:16 PM |
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I think Bitcoin will prevail as a payment method. A lot of people are focusing on Bitcoin price, but Bitcoin is still a good technology. It is the best system out there for payment transactions and store of value (in other words, currency).
You don't need to register, you just need a secret number to receive bitcoins. A lot easier then other payment methods.
You own your money and no government can take it from you with inflation or a failure of banks.
It is decentralized and open source, so it is secure and private. Security of every Bitcoin transaction is independent and of each other and at highest level.
In other payment methods, you hack one entity and you hacked all their users. (Paypal just had a breach this Friday).
It is simply objectively the best. Fairest, fastest, easiest to use, private and most secure. It isn't just the best, it is 10 times better then anything out there.
Bitcoin as a payment system, In my opinion, the one who benefited most is the trader. In this kind of payment system, the sender is the one who pays the processing fees while the trader paids nothing. It allows you to purchase items abroad fast and easy without currency conversion. And I think that in this system, users of bitcoin can conviniently pay any bills just by clicking. You can save money and time at the same time. I like the idea. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Marileno
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Activity: 215
Merit: 101
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January 13, 2018, 01:01:38 PM |
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BTc will fail as a payment system due to :
1. Transaction costs are way too high
2. transaction confirmation speeds are way too slow.
It really is as simple as that people. Unless they solve these 2 points, you can forget about it as a payment system. Other crypto's are faster and cheaper while cash is free and instant.
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tabas
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January 13, 2018, 01:08:53 PM |
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BTc will fail as a payment system due to :
1. Transaction costs are way too high
2. transaction confirmation speeds are way too slow.
It can't be used now as a payment system. I have to agree with what you say that bitcoin will fail as payment system and it will also not a good coin to use for paying things that we have purchased. Bitcoin now is good for storing value and as an asset that is digital. |
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adpinbr
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January 13, 2018, 01:24:29 PM |
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It much easier that we pay through online since its less hassle and its very secure since you can have to go to any bayad centers just to pay your bill first of all you can save more time at the same time you can have bonding to your family. You can be a great provider at the same time you can have more time to your family.
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yoseph
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January 13, 2018, 01:34:08 PM |
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Bitcoin is not a payment system in the full meaning of the word, but the blockchain technology on which it is based and which it develops is already widely used in financial transactions. Bitcoin should be incorporated in bank system inevitably.
As long as retailers are accepting it as a means of payment then we could say that it is indeed a payment method but we can't label it as a payment system because it is more than that. |
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tatnM
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January 13, 2018, 04:35:35 PM |
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I think bitcoin, for its slowness the transaction and high cost is not beneficial to use. To that, now appeared a lot of alternative crypto-currencies, in which transactions are much cheaper and faster. Bitcoin is simply the first because he is the leader. until the leader.
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ronypro
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Activity: 110
Merit: 10
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January 13, 2018, 04:42:05 PM |
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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? Untill segwit and lightning network come up and implemented in mass .bitcoin will struggle. After that we can see a drastic change in value as well as in use. I am keeping my faith with bitcoin,if its a bubble and pop up just because its transaction fees are high right now. Every other crypto is bubble also the blockchain technology will be bubble if btc turnout to be bubble. no one will survive for sure. |
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andiko
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Asura – Self Sustainable eSport ecosystem
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January 13, 2018, 04:48:29 PM |
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Bitcoin is not yet sufficiently adapted as a payment system, due to very high commissions. Only for very large transactions. Now in this respect. Litecoin is very convenient. Especially in February, Litecoin will have its own payment system.
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tambok
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January 13, 2018, 04:54:29 PM |
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Bitcoin is not yet sufficiently adapted as a payment system, due to very high commissions. Only for very large transactions. Now in this respect. Litecoin is very convenient. Especially in February, Litecoin will have its own payment system.
Well, I agree, just hoping that time will come when transaction will lower to the current cost right now, at some point some of the people are already using it as their way to pay their bills but due to the fee it is hard now to make this for payment, in fact most of us were just doing this as form of investment. |
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satgoldan
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Merit: 12
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January 13, 2018, 05:23:03 PM |
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Now bitcoin is not payment system, because of VERY big fees and low bandwidth (only 7 TX/sec, VISA has 40.000+). But! Lightning + Altcoins = future of payment
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South Park
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January 13, 2018, 05:25:35 PM |
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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? Well, bitcoin is not doing that well as a payment system, we all know the fees are very high, this is going to be solved eventually but we do not know when I just hope that the interest in bitcoin is still high when that happens or we may miss the opportunity to get more people to invest in bitcoin. |
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jonosutio
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January 13, 2018, 05:55:14 PM |
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if all countries use bitcoin as a means of payment, because the cost is cheap enough not too big and gambang used this idea using bitcoin as payment system. indeed there are still countries that have not agreed with bitcoin as a valid payment tool. but I am quite glad of this idea as all will be heading for big changes to welcome the new era of bitcoin as a transaction tool.
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JehanleMauvais
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January 13, 2018, 05:56:49 PM |
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Wel!, bitcoin now focusing on being profitable by its way, what I mean is even though bitcoin delayed for each transaction but the price was rapidly going high.
Bitcoin using payment system I think it take more improvement to do some transaction in bitcoin. But still bitcoin now is good to invest and more profitable for the future.
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freakingcat
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January 13, 2018, 06:00:01 PM |
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aren't we already using bitcoin as a payment system?
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ahmad21
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January 13, 2018, 06:03:27 PM |
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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? One thing is for sure that if we don't use it as a transaction system and think of it merely as an investment then it will surely become a bubble. Because it will be an investment without any underlying idea. Moreover the problem is that it isn't even practical to use it as a currency. It has such a huge transaction fees and times. This makes me look as if this is surely a bubble. |
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Barbut
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January 13, 2018, 06:05:05 PM |
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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? Well, bitcoin is not doing that well as a payment system, we all know the fees are very high, this is going to be solved eventually but we do not know when I just hope that the interest in bitcoin is still high when that happens or we may miss the opportunity to get more people to invest in bitcoin. This question shouldn't be asked, just by random look on this forum anyone can see how many people complain on transaction fees. If fees continue to grow bitcoin can't be used for everyday payments, I can't imagine that with current fees. I think that everyone is aware of existing troubles with sending bitcoins, maybe the worst of all isbthat we don't even known when this can be solved, will it last for a month or a year more, nobody have a clue we all just guessing, same newspaper do I think. |
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Kaccy1
Newbie
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Merit: 0
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January 13, 2018, 06:05:16 PM |
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Goodday,i honestly suggest the use of bitcoin as a payment system should be employed beacause looking at it,its a more civilized and systematic approach where transactions are made in a more safe way(no physical cash)and again there wouldn’t be aby record of robberies such as physical robbery like where you are having a cash at hand which is to be used as a payment for a transaction which is can be attached with so many risks which may include theft and even loosing the money if not preserved well,so I sincerely suggest bitcoin should be used as a means of payment as it will even go further better by easygoing and bettering the lives of many.Cheers
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White Christmas
Sr. Member
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Activity: 882
Merit: 258
★Bitvest.io★ Play Plinko or Invest!
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January 13, 2018, 06:11:04 PM |
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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? I think what can happen in bitcoin in the future can be succesful because more and more peolple are starting to use and invest to it so its need to be develop. Not only that, bitcoin can also be used in paying some money or any transactions involving money and bitcoin. We just need to believe and work hard in bitcoin so that we can earn a decent amount of it. |
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SixOfFive
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January 13, 2018, 11:43:53 PM |
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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? Thats right BTC was originally taken as alternative payment mode but now it is taken as a investment tool which make it a bubble. |
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kimochidesh
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January 13, 2018, 11:59:36 PM |
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BTC as investment model is a bubble. BTC is not making any profit like corporate nor it gives you dividend/reward so It is vague investment tool. As an alternative to payment mode, It gain got failed because of high transaction fees and long confirmation hours.
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