Is bitcoin a better payment system?

[gune68gune]

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).

Better in cash? Yes! Bitcoin got a better payment than cash. No hassle and long wait or queue to pay bills. Bitcoin is easy to use. I'm not talking the current situation but soon in the near future maybe they develop an offline wallet than can be a way of payment. It is more applicable in long distance transaction.

For now cash literally is very useful but in terms of transaction payment through online Bitcoin is a good one to use rather than cash. Aside from that Bitcoin can be convert in currency of the country using online.

Indeed for bitcoin transactions to be the best compared to cash transactions. With bitcoin will facilitate the transaction with just a touch and you stay home. However, bitcoin also still has weakness compared with other crypto. In addition, bitcoin is still hit by its legality problem.

[Dudesss]

I think it is the best payment system if you compare it to real money, it is far more way safer than cash when it comes on transactions or other stuff

[Bosx1ne]

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 will happen! Bitcoin will change the payment system. Many people are now starting to adapt digital currencies. I am really sure that the bitcoin will become our future money.

[Saiful Islam777]

Since Bitcoin is an online technology, it's a great way to lure in that field. Bitcoin can be used to lend anywhere anytime. Bitcoin is one of the main reasons to make love.

[jaaeeeyyyy]

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).

Yeah bitcoin is a good mode of payment because of the anonymity it gives on every transaction, being untraceable do gives both advantage and disadvantage taken by the users. Unlike using the fiat currency, its safer because you will pay personally. What i hate when bitcoin becomes the main mode of payment is its volatility, when the price is low you cannot just buy anything you want.

[Techie5879]

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).

See, you have mainly two options there, and as you said, banks already dont help much. If I were you, I would go with the more secure option, which is definitely bitcoin. Interceptions are impossible, and money is non reversible, and people can really thus veer away from deals at the last minute, once its done its done, and if both parties donot consent, it cannot be undone. Also, transactions are anonymous, faster and less transaction fees are required, atleast if you're not in a huge hurry to transact, where it becomes a problem sometimes, but the Lightning network is said to be able to overcome it.

Is is already as widely and easily usable as the traditional fiat that we use today? No. But will it be soon? Definitely Yes! Just think, paper currency has been around for hundreds of years, and even before that people used to barter, exchange stuff. This concept of cryptocurrency has just been up for 9 years, and its already a huge craze. So definitely it will catch up with fiat in the foreseeable future.

[sri11]

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).

for the payment system digitally yes .. but still have shortcomings and advantages. and for payment system is certainly not the best.

[Ondongeric18]

For me it is a better form of payment system since it can be kept and even sent to somebody far from you like when you are working away from your hometown and your loved ones badly needed the money on time.

[BillyTalent]

It takes time for bitcoin to be accepted by the people, for it to be recognized and then, without a doubt, bitcoin will take its place in the system. Of course over time it can become the best payment system, but it still needs to grow.

[george888055]

I would say it's already best payment system in some aspects. $99 million worth of litecoin was sent in a single trade on Thursday and it cost only $0.40 in fees.

[JiuMiBe]

When you need to make transactions from another bank to your bank. Banks will have to perform many steps to verify, it takes time to transfer money to the recipient. As international money transfers, too, it will take a relatively long time to complete the transaction. However, with bitcoin, no transaction through any intermediary financial intermediary, minimizing many steps. If transactions are confirmed by bitcoin blockchain, it may take 10 minutes to confirm, but that is still faster than through the bank.

[7Dyoknga5]

If bitcoin would have a cheaper and faster transaction fees, then it could be possible.

As of now credit card companies still offer low cost transactions with immediate confirmations.

For me, as of now bitcoin only offers convinience of not going through bank transactions for online purchases.

[Prettyme]

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.

[cosmo1]

Yes,it is better payment system.It is easy for sending and receiving money across the overseas.If every country makes bitcoin as legal then the bitcoin payment system will more better than all payment system but it is difficult that every government will not make bitcoin as legal.Hope in future every government will make bitcoin as legal.

But still bitcoin is a better payment system.

[Kuchiyose]

For now it can be said to be better with all transactions done by the internet network. A great start to getting better

[gordeevaverona]

Before BitCoin became a popular trend, the following events occurred. People who saw all the risks to which all money and values ​​are exposed, tried to develop a new type of currency, protected from the main threats. We started working on this in 1998.

In 2008, the creator of BitCoin himself described his offspring by sending letters to his subscribers. It turned out to be a crypto currency, not regulated by anyone absolutely, no individuals and banks. Previously, a book was written about such a currency, but at the time of its writing this currency remained just a dream. Now the dream of an unregulated crypto currency has come true!

And in 2009 the first small amount of the new currency was generated by the application, 50 bitcoins. At that time, the cost of the crypto currency was 700-1600 bitcoins to 1 dollar. Today, the cost of 1 bitcoin (one coin) is from 200 to 1000 dollars! In the same year, it was possible to transfer bitcoins to one user by another.

Today, the crypto currency - the electronic currency BitCoin, digital money of a new generation - is widespread in all countries of North America, practically in all countries of Europe. BitCoin users are people from different countries and continents - the popularity of the crypto currency is not only not falling, but has been growing for a long time already!

[Telybin]

When you transfer money from one bank to another, banks will keep a few days to confirm the correct information. Similarly, international transfers will take a long time. But for bitcoin trading it is very fast.Payment system will be better.

[olatslodi]

Bitcoin is a good payment system in every transaction you wamt to do. When we use Bitcoin as payment it make our live easier and we can avoid charges and hassle free. Nothing happened to  experienced some trouble when it comes to payment system. Bitcoin is so easy and helpful.

[PeRo]

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.

[FsJsxy]

I do not think that in the future bitcoin will be used as a payment system, rather it will be a reserve world currency. The blockchain of the bitcoin  is too congested and can not provide transactions quickly.