Is bitcoin a better payment system?

[dianepot]

I agree that bitcoin is the better payment system . You can already send money without going to a bank or travelling in able to send it. All you need is an internet connection & of course bitcoin and it was just a click away then your money is already in someone or even to your loved ones . You can even transfer funds internationally. With bitcoin im able to interact with other people all over the world. Although there are times that bitcoin network is congested that makes its each transaction sIow and high transaction fees. But still its the best payment system for me.

[1714627112]

1714627112

[1714627112]

1714627112

[1714627112]

1714627112

[jerowacik]

As a payment system, Bitcoin is still heavily flawed, and there are core issues that are stopping its growth in this direction. Bitcoin’s scalability is being hampered because it is too slow and expensive relative to more conventional payment processing platforms.

[florinda0602]

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).

Yes it is the best part system since a lot of people and markets accepting it as a means of payment. I am hoping that in spite of this they can still secured bitcoin and as much as possible bitcoin shouldn't involve in different crimes so that there would be no reason to banned it.

Yes, bitcoin is a better payment transactions,  It will minimize the time, effort and transaction fees than doing transaction in the bank.

[dhka]

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).

Agree with you. For now there is still homework for bitcoin to be used worldwide. But still it is better than most banking payment method and a lot cheaper too. As long as there is local exchange in both location. Ethereum is now a better payment method than bitcoin, a lot faster and a lot cheaper too!

[Mapalast]

seeing that bitcoin has disadvantages that is low transaction process and high transaction fee .  I guess it wouldn't become a great payment.
if it is meant to be the best payment, it should be cheaper and faster.

[kakajones25]

It depends.  To date it may not be a better payment system but once government policies step in and guidelines are framed it can surely become a better payment system.

[maruf9522]

yes i think bitcoin better payment system ,i feal fres when i pay any payment with btc , its so easy also without pain

[serverus]

For me it is a good way since it uses the technology of blockchain, it has a secured and transparent transaction. With this you can easily manage and track the flow of each transaction.

[bitlind]

Bitcoin is not the best payment system, it has problems with scaling and high commission. But let's see what will change with the introduction of Ligthning Network

[electrobit]

Most of the people say it is not because of "high fees, long transaction confirmation times", but thats outdated news, Bitcoin still has a higher fee than it had a few years ago, bit the transactions aren't very slow right now. The only problem right now is adoption, more stores and sites need to accept Bitcoin, and then it will be perfect.

You are right. Many people complain because of fees but that depends on what wallet you use.

I personally use bitpay wallet and the fees are very low.

[mdrakibul]

yes,of course bitcoin is a better payment system.Because most people work online to earn some money, if they do not get the money, then what does it mean to work but Bitcoin is 100% right.

[Man91]

The ambiguous attitude to Bitcoin payment system is due to the fact that the currency develops spontaneously and is not controlled by any law. It does not have a single control center, it is not tied to any country and allows you to store confidentiality in the network to its owner. Crypto currency is not stored in banks and does not have any material values, it can be used from any corner of the world. Nobody will close the user's access to his bitcoin-wallet and will not force him to prove that this wallet belongs to you. This gives unlimited opportunities for transfers and transactions in the crypto currency and the full will of its owner. Commission fees for transfers are also not charged.

[richan]

Yes bitcoins is best payment system than most traditional money payment system like western union or moneygram or any other online payment. Because of the anonymous nature of it coupled with the freedom to make payment without you been checked on by authorities of the banks. You can even profit from the price appreciation if you hold it.

[JoshMart]

I love Bitcoin and it is awesome but as a payment system, I believe that it is not the best, that is the area wherein Bitcoin needs to improve at. The very long transaction turn around time and the very high transations fees are just not cool, I hope this gets resolve soon. It is not perfect but I know that it doesn't stop there, these disavantages should not be the reason for us to just forget the good things it can and it is still giving us. Let it develop and evolve, I am sure that once it resolves these issues, it will be the best payment system that we are all looking for.

[Kurokonobasuke]

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).

It's still kinda new system for the people, even me, the bitcoin system of how it transacts. It is kinda risky tho because you can revive or refund what you've send bitcoins. And sometimes because it is anonymous, the users of bitcoin, it is hard to find where those people when you made a mistake and want to get back what you send.

[Ashong Salonga]

bitcoin transaction has advantages and disadvantages. for example, sometimes bitcoin transaction takes a lot of time even for a high fee, that obvious disadvantage for bitcoin, but it is still can be developed. for me, i really enjoy use bitcoin because i think bitcoin is easy to use it, especially for international transaction.

Maybe it is a good idea to use bitcoin as payment system. Nowadays our world is really innovating rapidy, you can use technology anywhere so the fact that bitcoin has a advantage in that way it might be a good thing that we can use it in our daily transaction that give convenience in our society.

[Charlesit]

I feel that,bitcoin is better payment system,because The system is purely peer-to-peer; users experience a greater degree of freedom than with national currencies. Purchases Are Not Taxed. Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added .

[Similificator]

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).

Yup, I really agree with you op, anyone saying otherwise is daydreaming or just says what he thinks is good to say. Clearly, bitcoins as of today still has a lot of flaws in it that hinders it form becoming a better payment system than what we currently have today. But for people who wants to send money abroad or to sell and buy illegal stuff, it'll be heaven. LOL.

[Jannatul Shefa]

Yeah I really think it's a great payment system than other currencies. If I  compare with other payment system then it's surely the best one without any taxes.

[sisjow]

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).

bitcoin is really a good payment system i think. especially about international transactions. easy to use it and it will not take a lot of time (in this case, we just need to put the high fee for a transactions)