Is bitcoin a better payment system?

[ladydark]

Bitcoin is the best payment system? Of course not! With such a low transaction processing speed, this can not be.

Really?Is it still slow?I thinks it's now at far better speed with segwit activation.I f big giants like Amazon once accepts bitcoin payments,it would come into main stream of payment.

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[19nataliya12]

Bitcoin made a real success in the financial industry - in 2013 its price exceeded $ 1000, and despite a subsequent significant decline, in 2017 returned to the same mark. This week bitkoin updated new records and passed a mark of $ 1510. Bitcoin began to appear and other currencies - their number has already exceeded 200 and is constantly growing, but 85% of the world's total crypto currency is still bitcoin.

Crypto currency has a number of useful properties, which can be considered using the most popular of them, bitcoin. Here are the key positive differences bitcoin from the usual money that you see in your Internet bank.

[dimiinx]

Bitcoin is the best payment system? Of course not! With such a low transaction processing speed, this can not be.

bitcoin transactions usually occur for free if the amount exceeds 0.01 btc. if for transactions that pull coins from many bitcoin addresses so that it requires a larger portion of data then it will incur a very small transaction fee.

[ralfshu]

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 is certainly a good option in number of cases. For instance, suppose your PayPal gets limited or closed, bitcoins can be handy in such a situation.

[wireless1889]

In my opinion, yes, because for the reason that it is through technology and we have technologies everywhere. There's a little bit of hassle in paying with physical money and it is just getting out of date, we need something new system of paying and transacting. Having to pay with bitcoin is less hassle and fast transacting. But right now they're not accepting bitcoin because the rate of bitcoin is very high and still cannot be accepted as a payment.

[Zoe_27]

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.

[roadsirm]

of course bitcoin is a digital currency and a fast payment system in almost all countries let alone very low cost

[9emb3lelit3]

In my opinion, Bitcoin in the future later in the system and also its payment program will make us more easier in terms of payment, and also will be very safe, because we no longer need to carry wallets and lots of money for us to travel, and our credit cards alone for us to walk everywhere.
Currently, we are heading in the direction of the way of Digital technology is growing very fast, which will make our life more simple, easy, and also safe.
It is from Bitcoin that will change our future, and also in many ways that will make our lives more alive in the Digital Technology Era.

[upekhaanthony]

Yes Bitcoin is better payment method but not the best. It has improved a lot in Speed and cost wise. But if consider bitcoin as a concept, it the greatest invention of the century.

Bitcoin is best when we are considering about the problems of KYC, Decentralisation and security. How many cryptocurrencies was introduced to the market, Bitcoin will be the King.

[zolfa]

The current affairs says bitcoin is not a best payment system it have to improve in this area. I'm aggring its one of the top crypto but to make safe in this crypto field innovate bitcoin and its features is an important issue now. As per the results I could feel that etherium is the best in payment system.

etherium is a bitcoin partner, etherium is more superior than bitcoin because it has high selling power in the market. but not always good for the payment system.

So, I want to know, why you say that etherium is the best payment system? what is your reason?

[steveabrahams]

No for me, because there is 0 security on bitcoin. When you got scammed by someone online, you can get your money back because there is no system like paypal that can make your money back. If in the future bitcoin have an update about the security like escrow, middleman or something like that, i think it will bring more people to use bitcoin as an payment system.

[Tiklohor]

I do not think bitcoin is the best payment system because of the low speed of transactions

[gusevli]

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 has got its own advantages and limitations and lot of improvements need to be done. For instance, cutting down the transaction fee for slower transactions is required.

[BelieveInBTC]

It depends on the use case. If you use normal Bitcoin transaction then it should take 10 minutes for a transaction to get through the assuming that network is working without any problems and the block aren't filled. Lightning Network will allow Bitcoin to become every day currency. The more channels are opened, the more reliable the whole system will be. I'm tired of high fees of international bank transfers and some other limitations that don't exist in Bitcoin.

[4rzun4]

There are still many who agree and disagree, if making bitcoin as a means of payment, because many are calling the fear of replacing the state currency.

[milada]

Personally, I like cash more as most of the people this form of payment only. I hope it changes with time as mobile and internet penetration increase here.

[Tagabukid69]

Time is very valuable for me. And to address the issue of slow down transaction, Bitcoin is the most effective and efficient way to access mode of payment. As long there is internet connection everything follows accordingly.

[Arabella.Theo]

Its potentially a better payment system. The important word in this is "potentially". Hopefully with a mix of sharding, segwit and payment channels such as lightning, we will be able to compete with the current system. Its a long way off though. It took coinbase over two years just to impliment segwit!

[carlisle1]

I respect your stand about this position but how can you say that its better for RECIEVING MONEY FROM SOMEONE YOU DONT TRUST?what about that?

What youre saying is bitcoin is more better to use from not so legal transactions?this cryptocurrency is designed to be the money of the future,meaning this will be the currency for digital age so better be careful on what you are saying jere

[Juggy777]

I think it's the best payment system ever made, asks us no personal details, doesn't send us annoying emails and marketing waste. Instead of being in the dark what's happening to our payments it lets us see live that our payments been made or is in the process. It's irreversible and that's a safety. It cuts down on the fees that greedy bankers charge us.