Stop Comparisation with BTC and Other Payments Methods.

[kano]

I often see bitcoin are compared to VISA in terms of transaction per second, VISA is obviously faster but bitcoin is decentralized which is much better for me or maybe everyone. In the future if Lightning network + Bitcoin will be implemented It will be perfect.

It's already implemented and has not helped the current bloat of transactions.
Yeah Core Segwit was a waste of time and poorly done.
BIP100 (supported by over 70% of miners) should have been implemented.

Meanwhile, the comparison has been going on for over 5 years - nothing new - move along.

[darklus123]

I'm getting used to it, bitcoin has always been compared to almost every type of payment options. It is because from the beginning bitcoin is too far from other payment options and was always been a treat to their businesses.

The unique approach of bitcoin has always been the main topics to why it should not be used, to why it would not work and to why it has no value at all. Now that this type of payment is slowly getting accepted around the world. Most of the payment options are now starting to link their services with bitcoin because if they don't they might be able to miss the opportunity that it can give to their business.

Tho, we can't deny the fact that most of this still doesn't accept bitcoin even if they are getting linked to it because basically you can only buy bitcoin using other payment options rather than you can sell your bitcoin and accept your payments through other options.

[pinoyden]

I'm getting used to it, bitcoin has always been compared to almost every type of payment options. It is because from the beginning bitcoin is too far from other payment options and was always been a treat to their businesses.

what is treat ? you mean threat to thier business  ? yes thats what others are thinking . they see that bitcoin is unique or have other advantage that are not on thier payment system . but not all are haters , others are also willing to teamed up with bitcoin because they think that this can grow thier company  .

Tho, we can't deny the fact that most of this still doesn't accept bitcoin even if they are getting linked to it

if they are linked to it then why they deny it ? thats strange   . i never witnessed that before   .  i only see several companies that are linked to bitcoin and they are proud of it .

[darklus123]

I'm getting used to it, bitcoin has always been compared to almost every type of payment options. It is because from the beginning bitcoin is too far from other payment options and was always been a treat to their businesses.

what is treat ? you mean threat to thier business  ? yes thats what others are thinking . they see that bitcoin is unique or have other advantage that are not on thier payment system . but not all are haters , others are also willing to teamed up with bitcoin because they think that this can grow thier company  .

Tho, we can't deny the fact that most of this still doesn't accept bitcoin even if they are getting linked to it

if they are linked to it then why they deny it ? thats strange   . i never witnessed that before   .  i only see several companies that are linked to bitcoin and they are proud of it .

Oops, my bad yeah I was actually referring to that word "threat" what is "thier"? you mean "their"?  Lol you haven't understood my statement I said "we" can't deny the fact not them denying.


I will give you some example as far as I can remember coinbase an paypal somehow connects but the deal I think was you can only purchase bitcoin using paypal but you cannot sell bitcoin to paypal that what makes it  a one sided deal.

[Siren]

We can't stop people comparing everything with anything like bitcoin to every payment methods. What most I see is about the transaction time, for those other payment methods the arrival of the money takes a couple of days while in bitcoin, it will just take you a couple of minutes. For the happy users who have experience with both payment methods, you can see on how it's ease to use and saves a lot of their precious time when receiving or sending money.

But it depends on the timing on when the transactions made,because if we must remember back in December 2017 when the transactions are congested we experienced longer waiting on each of our sending/receiving payments but all the fact you’ve mentioned is right mate that those other payment methods take longer time as in days befoe being done while in crypto the longest ive heard is more than aday

[kano]

We can't stop people comparing everything with anything like bitcoin to every payment methods. What most I see is about the transaction time, for those other payment methods the arrival of the money takes a couple of days while in bitcoin, it will just take you a couple of minutes. For the happy users who have experience with both payment methods, you can see on how it's ease to use and saves a lot of their precious time when receiving or sending money.

But it depends on the timing on when the transactions made,because if we must remember back in December 2017 when the transactions are congested we experienced longer waiting on each of our sending/receiving payments but all the fact you’ve mentioned is right mate that those other payment methods take longer time as in days befoe being done while in crypto the longest ive heard is more than aday

Nope, back when the price spiked many people took multiple days to get their txns confirmed and some never got confirmed.
The issue was that you had to pay a ridiculously high txn fee to get ANY tiny txn confirmed quickly - 10s of dollars or more.
BTC txns don't care about how much you are spending, only the size of the txn, so spending anything less than say $1000 worth back then meant a mandatory VERY high % fee.
Block size and all that shit with the failed segwit is the reason (as it has been yesterday and today)

[jakelyson]

We should compare bitcoin with those payment methods. Isn't that we are supposed to achieve? To be able to be an effective payment method as those mentioned. Just because you can't win compared to them that we will demand comparison to stop. We should thank people that keep comparing it because we at least have a goal that we should achieve.

[kawetsriyanto]

Well, actually I'm also not interested to compare Bitcoin and other payment methods. However, this is the world, people in the worldwide involve here and they have different ideas. We may be very difficult to stop them.
In my opinion, we need to share our ideas about the Bitcoin, the benefits, and also its utility. It is a decentralized currency, a cryptocurrency that may be one of the currency systems to be used in the future.

However, now, it is still able to be used for many payment methods because there are so many differences among the countries.
Bitcoin and other payment methods have their positive and negative sides, so, let them flow.

[carlisle1]

Thats the only way enemies of cryptocurrency can fight back against our beloved bitcoin because aside from that its harder for them to find another

Bitcoin is a currency in virtual form.when those mentioned are payment method in which obviously different from a currency so just let them have their moment and besides we are not butthurt here

[waynechong1995]

Many users barely afford to execute oversea transaction with existing payment gateways, transferring 10 pound through paypal charge 7 pound fees or something i remember previously, i agreed that existing payment methods are good enough with protection, speed and rollback-able operations. Cryptocurrency is a different concept with no involvement of such parties, you are responsible for your losses and it's not necessary a bad thing but you could argue that both should co-existed, like you say its still too young to deny

[Herbert2020]

Many users barely afford to execute oversea transaction with existing payment gateways, transferring 10 pound through paypal charge 7 pound fees or something i remember previously, i agreed that existing payment methods are good enough with protection, speed and rollback-able operations. Cryptocurrency is a different concept with no involvement of such parties, you are responsible for your losses and it's not necessary a bad thing but you could argue that both should co-existed, like you say its still too young to deny

the only problem with cryptocurrencu is lack of adoption. so if  you some day choose to use any of them for oversees transfer of money then you will end up paying a lot more fees than if you chose something like paypel.
for example imagine you wanted to use an altcoin. you first had to buy bitcoin then use that to buy the altcoin and then withdraw from the exchange. that is 4 fees already (transfer of fiat to exchange, buying bitcoin, buying altcoin and withdrawal fee). then the other person has to pay the same 4 fees in reverse to convert that altcoin to fiat again.
the only case that this can make sense is if you use bitcoin itself and if the other person doesn't have to convert it back to fiat and uses bitcoin as a currency since it is already a currency and is increasing its adoption.

[Teawhalee]

Comparison will never end because people are trying to see why one should be preferable against the other or why oke should be adopted for emerald usage. Even though they belong to different category but they have similarities which puts them in the same table for comparison. Even though bitcoin is just age of a decade, it has done well for it to be compared with those that has been existing for ages.

[bhabygrim]

Bitcoin is so different from any other payment method because all of them are centralized and controlled by the government ,
This is the newest and only decentralized payment option it is the best for me because we don't need banks just to keep our money safe .
For me it is the bank for non-bankers for those who doesn't trust the government or banks.

[traderethereum]

Comparison will never end because people are trying to see why one should be preferable against the other or why oke should be adopted for emerald usage. Even though they belong to different category but they have similarities which puts them in the same table for comparison. Even though bitcoin is just age of a decade, it has done well for it to be compared with those that has been existing for ages.

That is right. Every payment method has advantage and disadvantage, and we should know which is suit for us. I think it depends on the people itself. When they want to pay their daily life with fiat, then they can do that. But on the other days, when they are buying some product on the internet and the online store offering people to use crypto, then people can try to pay with crypto.
Cryptocurrency or bitcoin was offering another solution to make a payment. They can choose whatever they want, and we should not compare bitcoin with the other payment methods.

[sijonru]

Great research really appreciate even i think the same when internet era was not introduced and they couldn't able to think about transaction done in seconds now its possible with master or visa cards . Now Crypto transaction looking like impossible to use day to day life transaction . But soon it will also be part of day to day life like visa or master card.

With the development of the internet indirectly paving the way for digital money to be used as a financial transaction tool, which previously was dominated by Visa or Master Card. Now bitcoin as a digital currency is increasingly being used throughout the world, especially developed countries.
Bitcoin has its own characteristics that are different from other payment instruments because transactions are peer to peer so it does not involve third parties, such as banking. So from that bitcoin cannot be compared with other payment instruments because it has its own advantages.

[harbin55]

Comparing is a normal thing in this world;  but we should always think that everyone is unique. Cryptocurrency with Bitcoins and other payments has different platforms and different services. Even though they are different, still they manage on how to help every investors to earn money and make payment more conveniently.

[millgates]

I've been reading this badly comparisation with Bitcoin and all other payment methods. (Visa, Mastercard, Apple Pay, Alipay...)

Bitcoin has created 10 years ago. There is no regulations about it. It is all new area. Decentralized, it can't control from anyone. So we haven't met like this one before.

Visa, Mastercard, FIAT, Apple Pay, Samsung Pay, Alipay... They have advantages. Firstly all of them has a regulations about payment, store and banking... Also they've controlled from someones. People thinks if anything will be happen, they will go ask from them. Also, they have a legal protection. They can sue against it.

But we are learning about yet. We still don't know if we have legal protection or not. Actually, we are just experiencing yet.

So if you must to compare Bitcoin with something else. Make this comparisation the first then year of Bitcoin and that thing.

For example Visa (mostly compared with Bitcoin) was established in late 1958. And it started their international size of work in 1974! [Bitcoin has made it in a few years].


You can read all history of Visa here: https://usa.visa.com/about-visa/our_business/history-of-visa.html

I will keep comparing bitcoin with other payment method no matter what. Visa , MasterCard, samsungpay and alypay still charge too high cost for their services, I prefer like to use btc or usdt or other altcoin to send money outside of my country as long as the person who receive it is agree with that. I think cryptocurrency transactions is safe enough, I did many transactions with many people outside of my country without any problem so why I have to use visa, MasterCard, samsung pay and alypay if I can send money with less cost when using cryptocurrency.

[Ailmand]

We can't stop people to compare bitcoin to other modes of payment because bitcoin in the first place was actually made as a mode of payment. The difference is just bitcoin is a multifunctional and decentralized digital currency. People will keep comparing it especially when they're not well informed about what cryptocurrency really is.

[Pursuer]

there is nothing wrong with comparing bitcoin with other payment methods. in fact I would say that it is a good idea to do that kind of comparison because bitcoin is also a payment system and a currency so it has to be compared with other similar ones in its own category so that it can improve. and also this kind of comparison helps people see the differences and benefits and disadvantages all at the same time and make a better decision in their choice.

the problem is when people start comparing bitcoin with things that don't even fall under the same category as bitcoin. for example comparing bitcoin with gold since gold is a commodity and bitcoin is a currency they should not be compared. or comparison of bitcoin with tokens like ethereum, since bitcoin is a currency and ETH is a token they should not be compared.
the other problem is when you compare bitcoin with something else and only focus on one aspect instead of combination of them. for example comparing TPS of bitcoin with Visa while ignoring the decentralization versus centralization.

[Anonylz]

Btc will most certainly be compared to other method of payment because as we all know btc also is a means of payment (digital) and as always people have expectations in this new technology as opposed the traditional, as a digital currency, it is expected to act more efficient and effective than the traditional way, so when there are few lapses here and there people tend to wonder and question it,

and i don't see comparison as something bad, i see it as healthy way of critics, i mean for any technology, product, etc can grow properly, it is important to pay attention to healthy critics, this help to shape things up and make adjustment in all short comings, if you don't know where your short comings are, you can't make amends or adjustment, comparing btc to other means of payment also enlighten people the available possibilities of btc,  so it is not that bad as you make it sound, Humans also face this , not only BTC