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magneto
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July 10, 2018, 07:26:25 AM |
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Wechat pay is completely different to bitcoin.
It is centralized, it is owned by a corporation, and it represents value in fiat. Essentially, it is a mobile banking system which is just a lot more convenient compared to the traditional card system, hence the reason why so many people have adopted it within China and we even see a lot of businesses accept it globally.
Bitcoin is decentralized, and independent from fiat. However, the level of adoption is obviously not as high at the moment as WeChat Pay, or Alipay for that matter.
Does it mean WeChat pay is better than bitcoin? No, it just means that WeChat Pay has a lot more adoption.
For long term store of value I'd go with bitcoin any day, because it isn't centralized. With WeChat Pay not only are you holding a depreciating asset with the supply constantly debased, you also have a huge counterparty risk in WeChat potentially holding your funds or suspending your account. These are issues that bitcoin does not have, and are far better.
Of course, though, it's unlikely that anyone is going to be able to spend their bitcoin directly with as much ease as with WeChat pay, but that will improve as adoption increases.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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warwar
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July 10, 2018, 07:30:54 AM |
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Do you think wechat money is better than bitcoin this is widely use in china and other countries around china, and do you think that wechat money ia the reason why they dont need bitcoin? I read an article that china are now closed to achieved the so called cashless country using this. See this video. https://m.youtube.com/watcht=4s&v=cj2Fh8aX148Real talk , i just find that we chat has its own money though i havent use it in my daily life but i already heard it so for me it is messaging app but i dont know that it has a sort of coin of it now if we do compare wechat and bitcoin , im pretty sure that bitcoin has a better value and also most famous because of its price and ability to earn with it also to do trade with it. But wechat is really used by china which we could say that there are a lot of user of it and recognize by it, bitcoin is not really used in the store or by means of payment. |
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basyang
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July 10, 2018, 09:07:41 AM |
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Do you think wechat money is better than bitcoin this is widely use in china and other countries around china, and do you think that wechat money ia the reason why they dont need bitcoin? I read an article that china are now closed to achieved the so called cashless country using this. See this video. https://m.youtube.com/watcht=4s&v=cj2Fh8aX148 I know wechat but its my first time to hear its already had a coins. Wechat is just like Messenger a messemger engine that can connect with other people all over the world, but I did not know what is the used of its coins though. However, I think its just for a payment for load or buying for a other features. I do not think Wechat money is better than bitcoin because bitcoin is prove and tested effective in every transaction and I do not think Wechat can defeat bitcoin. |
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Jamescur
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July 10, 2018, 09:50:04 AM |
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WeChat is China's most popular social software, used by 1 billion people!
WeChat payment is also very popular mobile payment in China. There are many discounts for using WeChat payment. The most important thing is that WeChat payment does not have any transfer fee and arrives in time!
So almost no one in China uses BTC's payment method!
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Ranly123
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★777Coin.com★ Fun BTC Casino!
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July 10, 2018, 09:53:33 AM |
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Do you think wechat money is better than bitcoin this is widely use in china and other countries around china, and do you think that wechat money ia the reason why they dont need bitcoin? I read an article that china are now closed to achieved the so called cashless country using this. See this video. https://m.youtube.com/watcht=4s&v=cj2Fh8aX148Nah.! The vedio clip you shared is just an advertisement using WeChat. If you are advertising something you should make it look good and interesting to the eyes of the viewers. Bitcoin would be better than any other online currencies. |
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katiecbell
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July 10, 2018, 10:01:58 AM |
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Do you think wechat money is better than bitcoin this is widely use in china and other countries around china, and do you think that wechat money ia the reason why they dont need bitcoin? I read an article that china are now closed to achieved the so called cashless country using this. See this video. https://m.youtube.com/watcht=4s&v=cj2Fh8aX148Lol do you even know what is WeChat money? 😂 WeChat money is totally different to bitcoin and there is no way you can be comparing both, cause they are totally different. WeChat Money is just like PayPal and Payza and the rest of them. Bitcoin is different and is an investment, so you should be comparing it to stocks/assets. Comparing it with WeChat money is just like comparing it with PayPal and the rest of them are mainly for payment |
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stimliall
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July 10, 2018, 10:04:35 AM |
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Behind the payment of WeChat is state capital support, so the government promotes the payment of WeChat!
The essence of WeChat payment is the mobile payment method of legal tender!
And BTC is banned in China!
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nyerok
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July 12, 2018, 08:28:48 AM |
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I disagree, because bitcoin and WeChat money is totally different. WeChat money is only can be use in china and nearby countries and behind the payment of WeChat is state capital support, so the government promotes the payment of WeChat. But bitcoin we can use it for payment and trading worldwide, not only in 1 or 2 or 3 countries.
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nur rochid
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July 12, 2018, 09:13:36 AM |
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Behind the payment of WeChat is state capital support, so the government promotes the payment of WeChat!
The essence of WeChat payment is the mobile payment method of legal tender!
And BTC is banned in China!
when discussing china, this country is very unique, they make artificial innovations to survive with their own products. one example is wechat money. but i think it has not been able to rival btc |
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Andrew S
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July 12, 2018, 09:33:53 AM |
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Bitcoin is better, because it can be used in many other countries, in contrast to WeChat.
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Levin23
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July 12, 2018, 09:46:43 AM |
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Such is chinese, he likes to create something similar.
Bitcoin is new money for the whole world. Bitcoin which started the Cryptocurrency era worldwide. Look now many people are benefiting from Bitcoin, They easily send money to various countries with bitcoin, they can make money in the Bitcointalk Forum.
Bitcoin and WeChat Money can not be equated.
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Harlot
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July 12, 2018, 09:58:09 AM |
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You see WeChat Wallet is only a payment method in short it is not a kind of cryptocurrency but a form of fiat currency turned into a digital payment. So the value or price of your load in your wechat money does not change as it reflects the value of Yuan. That is the main difference I see when it is comparing it to Bitcoin as I don't think you can validly compare the two on who is better or not. WeChat is simply another means of a debit card but instead of using a card you are using your phone in payments.
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Deubila
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July 29, 2018, 07:31:14 AM |
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Why compare these two together? Do not know if you understand its use or not but compare. One that uses media for communication, and one for money for financial markets. : ))) humor.
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