Is bitcoin a better payment system?

[markdario112616]

low transaction processing speed.

Well given this statement and given the fact that Bitcoin is not acceptable worldwide the answer is NO. As of now, Bitcoin is still in a progressive stage and the acceptance stage. We can't deny the fact that Bitcoin did a lot of upgrade over the years but it's still not enough to be considered as a better payment system.

The answer is yes. Its the easiest way of paying something.

Isn't paying via Credit card or Debit Card is the most accessible right now?

There were only selected stores or businesses to accept Bitcoin as a form payment. As of the moment, it is not.

[1714650119]

1714650119

[1714650119]

1714650119

[kjnfmplm]

I don't think that it is the best payment system for now. Fiat is still a better payment system, in my opinion. Bitcoin is better off in investment and sending coins even across a different country. Transactions is slow and has a high fee. Maybe, in the future, if lightning network will be implemented, then it probably would change. But, only time will tell.

[10c]

while of course this is not the best system to pay for everything and many are not very well versed in it.but I'm sure it'll come with time.

[pabpete]

Everyone knows that bitcoin has all its shortcomings, especially in payment, which is the reason why people are in urgent need of lightning payment and Bitcoin is excessively being used for inter countries transactions because of less fees and instant trasfers.Adoption is needed to be increased in order to make btc an effective payment system. That's all .

Bitcoin payment system will by accept in future.There are no subscription or monthly fees for using Bitcoin directly, unlike traditional bank accounts and payment processing networks.

[sjdk]

Yes, Bitcoin is a better payment system. I think that I prefer Bitcoin to pay or transfer money compared to banks. Of course, bitcoin is not perfect, and transactions take a long time and high transactions. The fees are all Bitcoin should perfect

[frowsiter]

No matter what people are saying here but I do believe that it is the best payment system. I am not sure why people call it not so perfect as we can still make payments with it, we can still receives and send as much amount of money as we want in the first place. Its all about how you look after it! If you think you can just go at offline retail ask for the LAMBO and then make BTC-card purchase, then thats wrong! Bitcoin was made to make online transactions far smoother considering its online presence. Moreover though that is the case then also I am sure that we are on the verge of getting it grounded and use it for the offline purpose. Thats why it is still best no matter what!

[Dr.Osh]

Yes, Bitcoin is a better payment system. I think that I prefer Bitcoin to pay or transfer money compared to banks. Of course, bitcoin is not perfect, and transactions take a long time and high transactions. The fees are all Bitcoin should perfect

well, even though we say that it is a very promising payment system, but, for the country it could harm them. well we know that bitcoin transcation is not in taxes, and moreover the bitcoin system is always preached as money laundering.

[TooDumbForBitcoin]

Yes, Bitcoin is a better payment system. I think that I prefer Bitcoin to pay or transfer money compared to banks. Of course, bitcoin is not perfect, and transactions take a long time and high transactions. The fees are all Bitcoin should perfect

well, even though we say that it is a very promising payment system, but, for the country it could harm them. well we know that bitcoin transcation is not in taxes, and moreover the bitcoin system is always preached as money laundering.

Why do you think that bitcoin transactions must be taxed? It's closed ecosystem. They can tax  returns when you out to fiat, but taxes for BTC transactions is like to pay taxes for transactions with nominal money in computer games.

[VitKoyn]

Bitcoin still needs a lot of improvement on its system, although it is very cheap to transact Bitcoin today, it is still possible that the network will experience congestion on unconfirmed transactions, so a solution is still needed, I'm referring to lightning and schnorr signature, if those two will be successfully implemented I think it will make Bitcoin a better payment system than traditional payment system. But there are still some disadvantage like, transactions are not reversible, meaning if you accidentally deal with a scammer you won't be able to get a refund. But I think Bitcoin and other cryptocurrency is already a best payment system that can transact money around the world, faster and cheaper than bank transfers.

[Msile]

Bitcoin is a better payment system in few things while not so good in few. E.g., if you want to send large amounts of money to someone than it wouldn't cost more than few dollars to transfer that amount while with the banks it would take high fees and charges. And in the contrary bitcoin is currently not that good to handle large amounts of transactions, although development is being done to fix that.

[bitfocus]

I believe Bitcoin is the best as a payment system for now.

[Minhxx]

It is not popular with most countries. But now it may be best to transfer money fast

[01asd]

Bitcoin is a better payment system in few things while not so good in few. E.g., if you want to send large amounts of money to someone than it wouldn't cost more than few dollars to transfer that amount while with the banks it would take high fees and charges. And in the contrary bitcoin is currently not that good to handle large amounts of transactions, although development is being done to fix that.

First of all, that various and each payment system in some countries or one country maybe different. There are a lot of payment system in the world. And I think, in my opinion, we cannot compare them at our will. For example like dollar and btc, those two are completely two different things so you actually cannot compare those two. You have to know that everything as a good side and a bad side, including btc and dollar, and any other payment system, and any other currency in the world. Btc is indeed the revolution of money transfer and the new innovation of money transaction. But there is always a positive side and negative side in this world.

[JerryJam]

Bitcoin performs all functions for money transfers via the Internet. It became the first payment system.On the basis of this system began to arise and other payment systems.At the same time, bitcoin has become the first electronic currency. With it, you can make purchases to pay for education or make money transfers.Bitcoin payment system has an ambiguous relation to itself. This is due to the fact that bitcoin is not stored in the Bank develops spontaneously, this currency does not belong to any particular state and does not have material assets.At the same time, this payment system allows you to keep the Confederacy and reliability.

[Bhalibad]

The advantages of bitcoin relative to legal currency are more directly reflected in the payment technology level. As with the credit expansion level, the payment technology of the legal tender system can be adopted, while many of the technologies paid by bitcoin are not realized by fiat money.

For me yes, because Bitcoin is the first electronic currency, if we can purchase through the online system and we càn pay of our education. Bitcoin can also use as to purchase through our debit cards or ATM to used them.

[ram64GB]

For me yes, but not now. Maybe in the future if majority of country will legalize bitcoin and so more people will invest and use it as their primary money over paper money.

[plaintiff77]

Well for now Bitcoin is not yet a bettee payment system because not all stores or malls are acceptng bitcoin as payment for what you purchase the reason why paying in bitcoin is really hard and you need it convert it first in fiat in order for you to be able to pay.However if most of the establishments will accept bitcoin as payment it would be better.

[AteenaD]

Yes i do believe that bitcoin will be a better payment system. Bitcoin offers us with many advantages over traditional banks because it allows us to send and receive payments all across the globe, without us having to worry about conversion rates. Merchants do not have to pay any processing fees to carry out transactions. Another highly beneficial aspect of using bitcoin is the fact that large payments can be made with ease and without any monetary caps on the size of the payment. Although bitcoin is still in its nascent stages and is volatile in its pricing, it still has a potential to improve and become better.

[isaevaen]

No doubt, bitcoins are innovative and have solved a number of problems found with the current payment systems. But one thing still needs improvement and that it the transfers need to be instant.

[Jingjess]

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 can say bitcoin is a good way and easy to send across boarder but not the best payment system because transaction fee is high.