Bitcoin as payment system

[richan]

That was the original idea and the believe that bitcoins will replace normal payment system in big stores online and other services. But miners fees and network congestion has defeated that aim and I think it will be very hard for bitcoins to achieve that aim of becoming the ideal payment system.

[charlemagne_15]

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?

This is what i been waiting for a long time.  Bitcoin be used as a payment but before that we will request that some establishments will accept bitcoin as a payment.

[SWONG]

Now for payment, bitcoin and eth I think it is too expensive for payment fee, and user still not satisfaction for their transfor speed. I think this two main coin need to do something to promote of this two action, if not one day one can of coin will replace of them as possible.

[Tukang Becak]

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.

In investing there is certainly a chance to lose money, and we should be realistic not to get too hopeless on bitcoin, putting money on some type of investment is better than focusing 100% on bitcoin.

[WhaleHunter]

Bitcoin as a payment system is not feasible at the moment - too high the fees and too volatile the currency. I guess we will have other cryptocurrencies in the future as payment systems. Bitcoin is now only a store of value.

[RonJohannson]

Bitcoin as a payment system is not feasible at the moment - too high the fees and too volatile the currency. I guess we will have other cryptocurrencies in the future as payment systems. Bitcoin is now only a store of value.

Honestly the gating factor of using Bitcoin at merchants is processing time, if this could ever be solved I think merchants would gladly tap into the $200 billion of available BTC spending volume out there right now.

[yonjitsu]

I think bitcoin is already in the spotlight as medium for online payment of goods and services. It is only a matter of time where bitcoin will be used worldwide as replacement of fiat, that is, when disadvantages of bitcoin can be addressed soon.

[sidebyside]

I do not think bitcoin will become a popular payment method. You see that its current value is quite high. It would be unreasonable to use it to pay small payments. And bitcoin transactions are a bit slow, only suitable for large payments

[Yusuf77]

I think bitcoin is already in the spotlight as medium for online payment of goods and services. It is only a matter of time where bitcoin will be used worldwide as replacement of fiat, that is, when disadvantages of bitcoin can be addressed soon.

although like that but now it is less suitable because the cost of shipping is expensive and to confirm the transaction also takes no time. this is less suitable for payment instruments

[DrakeDG]

Not at this time. With current transaction fees, I don't want to use bitcoin as a payment option. It would cost you a lot just by sending a small amount, so I guess bitcoin as payment is not good right now.

[dogz12]

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?

The general acceptance of bitcoin is the biggest hindrance why as of now bitcoin can not be be used as means of payment. If only majority of population and business institutions around the world would adopt bitcoin then we can say that it has served its purpose.

[Dodoymabs]

Bitcoin is a good idea as a payment system and I love it. Now a days transaction like buying, selling, paying and trading is commonly used of people because it is hassle free. For me this is a huge opportunity because I have work and bitcoin is a blessing to each and everyone. We can do transaction at the same time by bitcoin. Many people will do bitcoin because their are a lot of advantages and helps them in times of needs.

[zemb]

I think it will be a good thing if bitcoin will be used as a payment system because it can help every bitcoin users to make payment in their miscellaneous fees or transaction easy.I hope that it will happen as soon as possible.

[santieevanz]

Bitcoin is a medium that can be used in transactions to make the job easier without making an effort too much because it will only need few clicks in order to process the transaction using your laptop or smartphone. However, I don't want to ignore the fact that it will cost you too much because of transaction fees because bitcoin is very expensive when it comes in this process. If only the government will allow the bitcoin and can be used in payment in some store and institution then the fee will be less.

[South Park]

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.

Everything you said is true but at the same time that is the issue, if we knew exactly when the LN will be activated then no one will be worried since we will have an approximate date of when things are going to improve but we do not even have that so uncertainty takes hold among bitcoin users and that is always bad for the markets.

[Stralvm]

It will only work when it becomes more fasten

[tickledlicker]

Well, since some online shops are using this method as the payment option, I don't see it declining in the future. Besides, virtual money is more efficient than the tangible cash.

[szpalata]

Bitcoin was originally created to help people take control of their money instead of banks that trend to control and steal from the masses.
It's obvious now, that bitcoin turns out to the most profitable way of investment, that is because the importance of bitcoin is more than as it was expected.

Even though it is being used as an investment opportunity predominantly now, bitcoin is still a great way of making payments(especially huge transactions) than many fiat currencies because it is truly international and is able to go every length of the earth without restrictions and government censorships.

[AlaitisalKhayr]

It will only work when it becomes more fasten

It was fast enough, you should compare it with bank transferring money or remittance service bitcoin still faster and the fee still lower. Remittance service will charge you up to 6% of money transferred. Amd also there is a limitation on amount that may sent.

[Zeque02]

Bitcoin as payment system, i think it will totally work if we have good internet connection in our country. It helps a lot most especially to those who have full time and part time job. They can easily do the transactions because it is hassle free.