Is Bitcoin Dying as a Payment Option?

[TrusteD_KZ]

I think bitcoin is really will die as a payment method. These transaction fees is inadmissibly, people now using it like a coin for investment. I don't know who is using it for daily transactions, if we have a lot of alternative coins (ethereum, litecoin for example).

[Md Saad]

I don't think so. day by day Bitcoin is becoming a popular and profitable currency and people around the world is getting involved in this platform. So that it's not dying as a payment option rather than it will be an important option for payment system in the future. But the commission is a matter of fact for using it as a payment method.

[A1exander]

I think unless Lightning network is implemented, it will. Actually, it has already (mostly) died as a payment option in 2017, when fees became huge. Bitcoin network capacity is too low for a full-fledged payment system, even with SegWit, and transaction times are too large. A second layer solution is needed, and it may appear soon after all.

[Netnox]

A lot of the sites have stopped accepting Bitcoin as a payment method, citing the extreme volatility. Actually the transaction fee is quite low now (I paid $0.05 yesterday to move my coins). But the high fee in December made a lot of the businesses and ordinary users hostile to using Bitcoin.

[Altcoindealer]

Bitcoin died long time ago as a payment option. Its to much volatil, the transaction cost a are to high and the network is permanantly overloaded. So nobody want to use a cryptocurrency with such much bad attitudes. In future when the community and miners cand handle all those problems, it will be attractive for store to accept bitcoin, but not before. But before this will happen, there will be acceptet another cryptocurrency who already can handle all this.

[Granslam]

Bitcoin will not die as a payment option. We know people do not want hassle or a hard way for a thing to fulfill and satisfy them and this what bitcoin is suppose to do to make a hassle free transaction, maybe there are many appearing altcoins now but the popularity and usage of bitcoin will never replace by it. Many companies now are adopting the bitcoin's payment system which is a great news for us and everyone.

[shi07]

I don't think bitcoin payment system would die or vanish this early. Bitcoin have only been starting to be widely known and industries is starting to explore its potential as payment system.

[mx667]

Bitcoin is poorly suited as a means of payment because of high commissions. Better to use other cryptocurrencies with low (or even without) commission.

I guess it can happen because the fee of Bitcoin is getting higher and the transactions of Bitcoin is getting more and more crowd. Maybe in the future there will be a technology that can save Bitcoin. But Bitcoin is still growing in term of price and that is very good. It is mean that we still can take profit from Bitcoin. Crypto like Bitcoin and some other Altcoins may go bigger and higher and the fee will get higher too but that just how it is. But there are actually crypto that is unique and the price does not change much. That is Dogecoin who I think will be very good if we use it as transaction tool.

[vv181]

We can't deny the last network congestion where the network is too tight and the fees rose so high is a bad time for Bitcoin, and that is at the same time with the Bitcoin correction going on, and I believe there's a lot of FUD too. That moment is when the competition with Bitcoin Cash still hot. I'm sure that time is when many merchants saw BItcoin as the inconvenient way for a Payment option. So, they are all abandoned the Bitcoin option. I believe the only thing for them/merchant to have a look to use Bitcoin yet again, is when the segwit adoption is widely spread and the lightning network already been implemented, i believe the positive sentiment will come to Bitcoin.

[Harpawan]

No, as a cripto currency, btc is getting liked and in search by the community. So, btc as a means of payment electrically will not die.

[zais]

six months ago companies were looking to integrate Bitcoin as a payment system,  in the fast-paced cryptocurrency ecosystem, things have changed dramatically.

Now, there is a host of companies either turning away from Bitcoin or doing a full U-turn. Microsoft recently announced that after almost three years it would stop accepting Bitcoin. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.”

Steam, the gaming platform, also canceled its use of Bitcoin as a payment system in early December last year. Their reasons resonated with the general consensus, citing high fees and incredible volatility as the main issues.[1]

Do you think bitcoin will back to be used as Payment Option or digital gold will be used as an investment?

Source : https://cointelegraph.com/news/is-bitcoin-dying-as-a-payment-option

The Indonesian government strictly prohibits bitcoin or altcoin from using an option for payment .... because a country has its own currency as a legal means of payment

[RamBahadur.Gurung]

If you feel so, then you should blame the price rise. Who in their normal minds would want to spend an asset, which gave more than 1,000% returns during the past 12-months? Another thing is that a lot of nations have specified that Bitcoin can't be used as a legal tender.

[sstephan]

for me , its already dead .
the only purpose of its existence today is to feed the various exchanges (along with other 1000+ shitcoins).
once it will be fully regulated -the game is over .

people buying bitcoin today do not care about tech and future , they care about making easy profits (thats what they think anyways)
its a virtual stock , not a means of payment .

 

[loragean03]

six months ago companies were looking to integrate Bitcoin as a payment system,  in the fast-paced cryptocurrency ecosystem, things have changed dramatically.

Now, there is a host of companies either turning away from Bitcoin or doing a full U-turn. Microsoft recently announced that after almost three years it would stop accepting Bitcoin. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.”

Steam, the gaming platform, also canceled its use of Bitcoin as a payment system in early December last year. Their reasons resonated with the general consensus, citing high fees and incredible volatility as the main issues.[1]

Do you think bitcoin will back to be used as Payment Option or digital gold will be used as an investment?

Source : https://cointelegraph.com/news/is-bitcoin-dying-as-a-payment-option

as of now, bitcoin cannot recover yet from the long run correction, maybe the reasons why do some company had to U-turn because of high fees and slow confirmation which has to affects their payment system. but if bitcoin had to return its original transactions fee and lightning speed transactions confirmation, I think they will (company) back to bitcoin again if they had too.

[SaiWAFU]

six months ago companies were looking to integrate Bitcoin as a payment system,  in the fast-paced cryptocurrency ecosystem, things have changed dramatically.

Now, there is a host of companies either turning away from Bitcoin or doing a full U-turn. Microsoft recently announced that after almost three years it would stop accepting Bitcoin. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.”

Steam, the gaming platform, also canceled its use of Bitcoin as a payment system in early December last year. Their reasons resonated with the general consensus, citing high fees and incredible volatility as the main issues.[1]

Do you think bitcoin will back to be used as Payment Option or digital gold will be used as an investment?

Source : https://cointelegraph.com/news/is-bitcoin-dying-as-a-payment-option

Maybe because of high transaction fees, which I think is one of the disadvantages. Some would say make big transactions so fees will be worth it, but it won't always be like that.

One more is that processing transactions take a lot longer, where some businesses can't afford to wait that long.

[Asuspawer09]

six months ago companies were looking to integrate Bitcoin as a payment system,  in the fast-paced cryptocurrency ecosystem, things have changed dramatically.

Now, there is a host of companies either turning away from Bitcoin or doing a full U-turn. Microsoft recently announced that after almost three years it would stop accepting Bitcoin. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.”

Steam, the gaming platform, also canceled its use of Bitcoin as a payment system in early December last year. Their reasons resonated with the general consensus, citing high fees and incredible volatility as the main issues.[1]

Do you think bitcoin will back to be used as Payment Option or digital gold will be used as an investment?

Source : https://cointelegraph.com/news/is-bitcoin-dying-as-a-payment-option

I do not see bitcoin dying even in a sense of using it as a payment. As far as I know bitcoi  is used by so many people who are in this generation that prefer using some sorts of technology. And as time goes by, many people was added unto this population, nog subtracted or divided.

[Javanewstar]

Many big companies have stopped bitcoin simply because it is volatile and is slow to transfer money.
So when the lightning network is deployed, these problems will be solved, and I think it's still possible to use bitcoin as a means of payment.

[budi691]

In my opinion, bitcoin has become some sort of a crypto store of wealth, some kind of crypto-gold. With the increase in transaction cost due to the scalability issue, bitcoin will be a bad means of payment for the exchange of goods and services.

if demand is getting more and more, I think reasonable if transaction fee will go up. If the comparison is not far from the previous cost, I think that's normal. 

[richminded]

I don't think bitcoin payment system would die or vanish this early. Bitcoin have only been starting to be widely known and industries is starting to explore its potential as payment system.

Its true and I believe if bitcoin die, cryptomarket will collapse. We should support this great technology so we can still see bitcoin and the future and can enjoy this innovation. Bitcoin are just started to introduced himself and I believe more time will come with the cryptomarket and bitcoin will make our life more convenient.

[krungpuge03]

I think its not dying just because some payment method or transaction stop it  but bitcoin is very popular now so that in near future bitcoin will be use as a payment option in worlwide