Bitcoin as payment system

[kryptorian]

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.

People say different things about who's actually spamming the network, and there are varying opinions on that. Miners are the primary beneficiaries of these spam attacks, so it could very well be them after all. But it is not just about the high fees as such. Even if they were low, there are still limits on the processing capacity of Bitcoin's network, and introducing off-chain transactions is likely the most viable solution to this problem.

[cryptojoe]

Nobody can tell if the bitcoin bubble really exploded, as many people are increasingly using this currency.

[Alexandr210774]

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?

A very complex issue, unlikely, until, to make improvements, even though the transaction is immediate, then nothing will happen, just imagine you will pay at the store, and the transaction will be 20 minutes pass as something not very much.

[Rahman11]

It's quite possible to payment via bitcoin, but need more monitoring for it, bitcoin transactions fee is now soo much high need it controlling. when people's are aware and know about bitcoin and if they are interested about it then anything can done by bitcoin.

[xiboothrezi]

It's quite possible to payment via bitcoin, but need more monitoring for it, bitcoin transactions fee is now soo much high need it controlling. when people's are aware and know about bitcoin and if they are interested about it then anything can done by bitcoin.

It is true. If transaction fee issues can be overcome, then bitcoin becomes effective for payment.
However I do not think everyone is willing to use bitcoin as a means of payment, let alone bitcoin unit price is very expensive and more suitable to be used as an asset. The analogy, bitcoin is gold in a virtual form.

[mrtryonebiggums]

Whoever they are my thoughts are that they envisioned a world which would use bitcoin as everyday money but I don't think they thought it would reach this scale. As a result bitcoin has turned into a store of value for the moment but I don't think this phase lasts much longer with Lightning Network looking over us. Once we are able to transact quickly and almost instantly, what stops us from buying that cup of coffee from Starbucks? Or even further making those micro transactions, what stops us? Nothing and that is when Bitcoin will get super exciting for those who adopted because of the tech and not for making a quick buck.

[Westinhome]

I agree that bitcoin as payment system there is no cash been involved, no more corruption has been made in the side of the government. Some other countrys bitcoin as their payment no need cash.

[Gatot84]

Bitcoin can not be used as a payment system now because the cost is too high to be transferred and the confirmation time is also high. However this is if transaction costs are lower and the confirmation time will decrease it will be easy to use as payment mode, currently only bitcoin as an investment tool.

[paulmusa25]

This would be more exciting if bitcoin will become more popular and majority of merchants use bitcoin as payment.

[CryptoFanholic]

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 don't think bitcoin can be a payment system because average confirmation time is 30 minutes in 2018. so, some altcoins can do this job. If you go to some starbucks store and wait 30 mins to confirm transaction and then have your coffee doesn't work so efficient , at least for me

[Cofee.BLUE]

Many companies uses btc as their payment system, just like here in the Philippines in coins. Ph you can pay bills in meralco, paymaya, mcdonalds, smart, globe and more big companies that insert btc in their way. Tahts why people that uses btc are very smart and practical in their situation. They will not exert so much effort in what ever they do.

[Westinhome]

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 don't think bitcoin can be a payment system because average confirmation time is 30 minutes in 2018. so, some altcoins can do this job. If you go to some starbucks store and wait 30 mins to confirm transaction and then have your coffee doesn't work so efficient , at least for me

I think the confirmation in transaction it's not 30 minutes is only a seconds only.
But if we going to transfer into the exchangersite maybe it come to 30 mins or withdrawal of our coins.

[jakoylantern]

For me, yes bitcoin can be as a payment system that is the main aim of bitcoin that become the payment system works without a central bank or single administrator. But this day’s we know that bitcoins transaction is becoming very long to confirm. But this thing can happen if the acceptance of bitcoin grow more significant and most of the establishment accept bitcoin as payment. I’m looking forward that bitcoin become the legal payment system for every institutions or company. 

[hulahup]

For me, I hope there is a bitcoin payment in my country, I ask my country to accept this bitcoin smoothly without any hindrance and allowed by the local government.

[teejaymuna]

Btc will continue to be and grow as a system o payment because more companies are thinking of adopting BTC. Facebook, Google and more might adopt BTC this year and we hope for more. These companies will solidify BTC as a payment system.

[Jose Rizal]

i think it bitcoin can be  good payment system and payment gateway.there is no need third party to transfer your money.its peer to peer and safe.so it grow good payment system.

I dont agree with this if you are talking about a massive usage of Bitcojn as a medium of payment to the community, it can be possible to cashless society which is proven to be a thing that will make our community worse than before. I dont agree with his in the sense that most of the yransaction might be dependent on Bitcoin.

[Bitcooner]

I think it's good idea using bitcoin as a payment sistem. A lot of people have bitcoin and it's usefull to buy goods using bitcoin without exchenge to real money

[carlisle1]

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?

bitcoin is designed as virtual money,so when we say money it can be used for payment its just happen that many countries still denied the demamnd of bitcoin in their nations.and the people. Them..imagine how easier the life is if crypto coins can be use as a payments for everythi even in grocery

[AlexanderAnthony]

Bitcoin made by satoshi nakamoto (founder) is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a middle men which is the bank or financial institution.

[Sunnyyy]

I think bitcoin is not perfect for daily payments. We can see that the value is too high. You can not use it to pay small payments. I think it would be more appropriate to invest in business