Bitcoin as payment system

[abbhatia]

Bitcoin has come far in a relatively short time. All over the world, companies, from REEDS Jewelers, a large jewelry chain in the US, to a private hospital in Warsaw, Poland, accept its currency. Billion dollar businesses such as Dell, Expedia, PayPal, and Microsoft do, too. Websites promote it, publications such as Bitcoin Magazine publish its news, forums discuss cryptocurrency and trade its coins. It has its application programming interface (API), price index, and exchange rate.  Problems include thieves hacking accounts, high volatility, and transaction delays.

[ajdaj]

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 that bitcoin will soon become a payment system. in parallel with Fiat it will go on for a long time until people learn to use it. And maybe the truth is that no one knows.

[awawo]

Bitcoin is never a bubble that will bust one day bitcoin is an online payment system decentralized in other not to be control by any individual or government and has a value in the exchange market, double as an assets an investment platform and a peer to peer payment system. Bitcoin has a great future before the next two years bitcoin will rise up to $100000 and the world will accept bitcoin as a secondary currency and a great investment to hold.

[darshansetty]

yes the bitcoin can be used as an payment system it is very useful if we make the bitcoin as payment system the paper currency will reduce

[Kittygalore]

I think the first agenda why it is created is to do a transaction easily by using bitcoin, cryptocurrency such as bitcoin is somehow needed yo be a means of exchanging internationally because fiat will get into a hard process to do that. Now many institution are accepting bitcoin as a payment and others are banning it.

[Spenjoyere3]

Bitcoin can’t be used as payment system because price of bitcoin keep rising fast.
if you have 1 bitcoin it’s better to save it more than used for daily payment.

[heartrodriguez28]

Bitcoin can’t be used as payment system because price of bitcoin keep rising fast.
if you have 1 bitcoin it’s better to save it more than used for daily payment.

This , plus the fact that transaction fees aren't getting any lower at this time... It's better to just hold on to our Bitcoins for now and wait for further updates about lightning.

[GeviraBrooks]

It has already status of payment system, just not all counties wanna accept it   Time will show who is who.

[mr.bean865]

It has already status of payment system, just not all counties wanna accept it   Time will show who is who.

I have seen an airline is accepting the fare of journey in bitcoins and as far as I know, with the current speed of growth of bitcoin one day every firm will have to accept bitcoin in their transactions and on that day world will revolutionized.

[Juggy777]

The answer to this question is yes and no. Japan for example has decided to give a freehand to bitcoin to run and make money for all. From their airplane to hotel every one loves Bitcoins there, however there is one very important which is bad for Bitcoin is the fees. So from a story I read on the net, a guy in Las Vegas tried to buy a 1$ Bitcoin lmao, but he couldn't because of the high fees, and that is the main worry, the high fees kills it. Unless it's resolved it can't be a major payment system.

[magmar]

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?

That would be great for us bitcoins users because the process of payment will be less hassle for us. And sometimes some instances we do not have cash and we need to pay something but we have bitcoins that is the one we will use to pay. It is easy too because you will just scan the qr code and then you are good to go the payment will be done in a exact price. But i hope that the paymebt will not have any fees because some wallets have fees if you are gonna send it into a different wallet.

[blueteam09]

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?

There are many who argue that Bitcoin is not a payment system because its value is too risky, it can increase or decrease rapidly in a short time. When paying no one wants to receive a sum less than what they sell in just a few hours.

[eurodecent]

Yes, online transactions are sometimes using Bitcoin as their mode of payment. But,  I don't think it will last for long because there might be a case that people would prefer the cash transactions again.

[Ohmfeex]

people use bitcoin for saving more than paying.
it’s funny to use bitcoin for buy bicycle and find next years you can buy car using your old bitcoins

[kryptorian]

Bitcoin, as a payment system, is not very convenient. I think it is more attractive as an investment, and one day its price will replace gold.

I don't understand what you mean by Bitcoin's price replacing gold. As far as prices are concerned, it is said than bitcoin is already more expensive than gold, but frankly, I don't know how you can compare the two. Whatever you may mean, it is unlikely that bitcoin will ever replace gold. Gold has its own application just like Bitcoin's and they don't overlap very much, so they don't even compete.

[Caraphernalia]

Bitcoin is good as an alternate form of payment because it is digitally controlled and monitored which is secured. And also bitcoin is reliable to its small amount of transferring time which is good for business transaction.

[HappyDumper]

It is good when the bitcoin make as payment system, because it is more comfortable to the user to pay in the different market out shop using bitcoin and the users will be more happy for it to happen.

[BITDV]

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?

It’s true that bitcoin is a very good digital money for long term investment in the future.
Many companies lately have accepted bitcoin as a payment method. I've heard that Amazon said that they will accept bitcoin as a payment method.

[BITDV]

Bitcoin can be used to pay bills or other online transaction because you can convert it to your currency.

That’s what most people do who keep bitcoin as a very useful additional income to help a person's economy in the real world so they able to buy what they want.

[South Park]

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.

There was a time when transactions were very cheap but that was long ago but we also need to consider the miners are just spamming the network with low fee transactions in order to get more profits this is why it was decided that we need off chain scaling instead of just increasing the block size.