Is bitcoin a better payment system?

[al maruf]

Bitcoin community is close to merchant-friendly payment system, if people generally agree to continue the work, but it becomes the specification for the payment of bitcoin, it is important for both traders and customers, So Bitcoin is a good payment system.

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[Sar elok]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

If the bitcoin was able to maintain his consistency, not do not may people are turning to online payment systems for bitcoin going forward.

[em777]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

Being trustless is nice, but how would I go about buying an online item if I can't trust that it won't arrive broken and that I can never get my money back? So then there will always have to be employees from whatever website to be able to handle claims and escrow reliably...which means if they go against you, you don't really have an option to go to a bank to get your money back (not that a bank is even helpful with that either).

Yes somehow we will have to checkmate activities to avoid fraudulent act.

[radjie]

bitcoin can make it easy to make any transaction from anywhere without having to bother involving a third party. for users of bitcoin payment cryptocurrency is a better payment system than other types of payments, but for most people who do not know bitcoin, they certainly do not think that payment using bitcoin is not an easy thing to use.

[simaislam]

its depend on purpose ... because its cant be refund able and its take time but its have advantages too

Refunds are perfectly possible with Bitcoin. In this case it doesn't depend on Bitcoin itself, but the applications being used as payment gateway. BitPay, which is the most popular payment gateway right now, allows refunds too. These applications can be tweaked to such extent, that merchants can have as much freedom to issue different sorts of refunds as possible.

People for some reason think that Bitcoin is an ancient piece of technology not being capable of much, that I definitely have noticed throughout the years. LN will be the next big thing, and possibly THE killer application people were desperately waiting for to show up. It doesn't only offer Bitcoin the currency centric features it needs to move further and stimulate usage, but it also allows for a more flexible form of scalability. Merchants at some point won't even need to use payment gateways anymore, especially if the price becomes a notch or two more stable; they are their own payment gateway.

I strongly agree with your opinion that refunds are perfectly possible with bitcoin.

[WorldBiz project]

it is still too slow, the alts like ETH are now better

[Captain Sneeze]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

Being trustless is nice, but how would I go about buying an online item if I can't trust that it won't arrive broken and that I can never get my money back? So then there will always have to be employees from whatever website to be able to handle claims and escrow reliably...which means if they go against you, you don't really have an option to go to a bank to get your money back (not that a bank is even helpful with that either).

I strongly agree on your opinion that, being trustless is nice, but how would I go about buying an online item if I can't trust that it won't arrive broken and that I can never get my money back? So then there will always have to be employees from whatever website to be able to handle claims and escrow reliably. And adding also my opinion that, i'm okay with whatever system we have got, I mean it is all right with me if I gotta stay a little longer to receive and send the payment. In addition, Let's all wait for lightning network and for sure bitcoin's going to be the best payment system of all or if most are using Segwit wallets, everyone would agree that it is. On the otherhand, transaction fees and time are definitely longer than bank/PayPal transfers, but they're definitely not as expensive and as slow as you're implying.

[kissme09]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

I do not believe that Bitcoin will be the best payment currency, it has too much risk, and it is a tool for whales to help them get food and kill prey. Besides many criminals around the world are using it to transact illegal items. Bitcoins can help us become rich every day, but it also makes our world worse every day.

[Rossy Akbar]

Well,  I think it depends on what thing you will pay for, daily life maybe cash was better, but if we want to make a payment online or transfer from one company to another company will be very easy with bitcoin. Will be even easier when bitcoin is evenly distributed to all the ecosystems or legalize by every single country in the world.

[Paul karet]

true, a payment with Bitcoin is easier than a credit or debit card and can be accepted without a seller account. Payments are made through the wallet application, either on your computer or phone, by entering the recipient's address, payment amount, and click send.

[Keyboard PC]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

I think bitcoin is very good to be an alternative payment because the bitcoin transaction is very safe and not only that if you store very long bitcoin you can get more profit from bitcoin price increase, with bitcoin payment also more transparent and very fast, that's why bitcoin be the best alternative to payment methods.

[Theonethatgotaway]

true, a payment with Bitcoin is easier than a credit or debit card and can be accepted without a seller account. Payments are made through the wallet application, either on your computer or phone, by entering the recipient's address, payment amount, and click send.

Bitcoin is the better payment system since it allows sending payments internationally without the concern for currency conversion. Bitcoins blockchain is secure with a multiple password to secure it. Fees in bitcoin are less costly than the fees in money transfer services.

[_Mikasa_]

For me bitcoin will be a better payment system as transactions only happens between the seller and buyer without any middlemen or known as escrow services. For that, the exchange of payment and goods are faster and safer. Bitcoin also allows international purchases without concerning about currency conversion.

[Urtaev]

I do not think that bitcoin is the best payment system. Given the slowness of his transactions, I think soon it will be replaced by more advanced technology.

[MASDAS87]

Yes, bitcoin is really nice and better payment system. bitcoin is a decentralized digital currency that's why we can transaction world wide and it is so much easy and user friend.

[teklang01]

For me, bitcoin has the potential to shutdown the other financial intermediaries because through this technology we can send money to any person directly anywhere in the world. It is fast, open 24/7 and low cost, no wonder lots of people prefer bitcoin payment system.

[ashlyvash00]

You mean better than paper real money?? For me paper money is better even though bitcoin is also good payment but in our world there are lot store didnt yet accept bitcoin. But maybe someday it will and if it happen then ill go to bitcoin as payment system

[ohlawdy]

For me, bitcoin has the potential to shutdown the other financial intermediaries because through this technology we can send money to any person directly anywhere in the world. It is fast, open 24/7 and low cost, no wonder lots of people prefer bitcoin payment system.

Bitcoins problem is that there are a lot of coins that do the same things but better. For now bitcoin has the name and all , but i don't know how long that will help bitcoin stay on top.

[jayveerastrullo]

Yes it is . I think it is the second best payment system. It is secured and safe and you know how it works.

[Betheng10]

The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).

Transaction fees makes it more expensive than it's actual price. It almost offers fees same as banks do. With regards to remittances, for example i'll be sending 5000php (95usd) I'll be charged with 500php (9.5usd) which is somehow near to bank transfer fees.

Besides that, some exchange sites charge expensively if you wanted to purchase bitcoin.