bitcoin and online transctions

[Erickan]

Bitcoin is truly a groundbreaking invention of decentralized trading, but it is too new, too much to do to become a payment tool for businesses and individuals. Bitcoin is currently only considered a speculative tool, a method of storing assets instead of payment tool. But I hope that future bitcoin will become a popular payment tool worldwide.

[libert19]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

Yes but the growth is gradual, in my country, we just recently adopted to digital payments.

It will take while for cryptos to go mainstrean as well, just progress should never be stopped otherwise it's dead.

[loopes]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

That's because online payment that provided by banks and other company are charges too high fee. If we compare it with cash then cash is better because there is no fee on it except taxation. And other bad things is there are many germs on cash money so it's not really good for our health. But if we use bitcoin then we only need to pay small fee and we can send the money anywhere in this world. So bitcoin is very appropriate for this century.

[boyptc]

Yes but the growth is gradual, in my country, we just recently adopted to digital payments.

It will take while for cryptos to go mainstrean as well, just progress should never be stopped otherwise it's dead.

Nice to hear that your country is very open to cryptocurrencies unlike the other ones that expressed on how they dislike crypto's and everything related to it.

The progress for crypto is very encouraging to see that more and more companies and merchants sees the future behind it. While some gov't understands that it shouldn't be ignored.

[shesheboy]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

That's because online payment that provided by banks and other company are charges too high fee. If we compare it with cash then cash is better because there is no fee on it except taxation. And other bad things is there are many germs on cash money so it's not really good for our health. But if we use bitcoin then we only need to pay small fee and we can send the money anywhere in this world. So bitcoin is very appropriate for this century.

Cash dont have fees i agree with that but what about tax ? When we buy stuffs offline all of those things have a tax included , the bigger item you buy thr bigger tax youl incur  and i think that tax is more costy than fees if we all sum it up  .  other one is the germs and other bacteria's that we can get on using physical currency . this is bad and this is the start of causing health problems  .  cryptocurrency is a kind of virtual/digital money that can overall solve this issues  that we are facing right now  .

[mattadc]

Very sorry.  But in my country they don’t really want to develop cryptocurrency.  And even more to implement it for use.  Therefore, there is an opportunity only to develop it here.

[kawetsriyanto]

So far, the use of Bitcoin for online transaction is still limited. This is constrained because many merchants who have not recognized and accepted Bitcoin as a valid and profitable payment. The price is volatile. So, there is a tendency for concerns about the profit or loss they might get. However, basically, this does not rule out the possibility that someday Bitcoin will be accepted at more merchants so that it will increase trust and value for Bitcoin.

[Astvile]

Bitcoins spendability on online transactions are so small compared to online transaction handled by banks.Bitcoin is not yet fully adopted as a currency for most merchants and if youll be comparing bitcoin vs online transaction fiats are all accepted as payment method for online deals while bitcoin is not yet accepted by most

[rodel caling]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

People knows this so what do want to deliver your thread op, the n w technology still fast moving to improve and give opportunities to each everyone want to work at this field especially in crypto.

[Indamuck]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

That's because online payment that provided by banks and other company are charges too high fee. If we compare it with cash then cash is better because there is no fee on it except taxation. And other bad things is there are many germs on cash money so it's not really good for our health. But if we use bitcoin then we only need to pay small fee and we can send the money anywhere in this world. So bitcoin is very appropriate for this century.

Their fees are high because customers have protection and are able to get refunds in most cases.  If you want a refund with Bitcoin you are screwed.  Also bitcoin fees aren't always low, during the last bull run people were paying VERY high fees.

[ttcsalam]

  It's not just accurate statistics, but it is currently being managed online. I think with the current time technology, now everything should be done online. And currently 50% of transactions are being online.

[Akagum]

This is due to the fact that online marketplaces do not yet accept bitcoin as a medium of payment for Good's and services.

Hopefully the adoption rate of bitcoin would be accelerated which would bring about an increase in the above percentage.

[Indrawan77]

You need to give more time for people to adapt, online payment need credit card and some people not too comfortable to used it since there were a lot of case reported that their credit card security being breakthrough, but more and more shop now already implemented online payment, for crypto payment it will take more time because of tge legalisation issue, but we are more and more toward the digital era, we will see more online payment soon

[turkandjaydee]

Why? Many online payment methods have very low fees, and many of them are nearly instant when you are dealing with small amounts. The biggest upside of Lightning compared to fiat is that it is private and users control their own funds, but at this age no one cares about that - billions of people allow companies like Google and Facebook to harvest their data as they please. LN won't change it, it may be a revolution for Bitcoin and crypto ecosystem, but it's not a revolution in financial world.

Well the thing is we cant avoid that Google and Facebook are providing some services in return and most of people still think that its worth it to trade those services with their data.
People who think about it in different way or really want privacy are the minority in this world (rich people, experts, or even people who want to do something bad).

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

From my experience so far, the reason behind this result is lack of knowledge.
Because they dont know about credit card and the advantages or about cryptocurrencies. Even sometime its because they dont understand about those things and just skip it.

So I think the cryptocurrency stage that should be for now is the education stage.

[CBANX Ltd.]

As we are moving towards digitization rapidly and therefore, people are adopting online bitcoin transaction as an alternative option for the traditional mode of transaction. 

[Kakmakr]

despite over 2 decades of growth of internet, statistics show that only 10% of retail transactions were conducted online. payment channels such as lightning are a massive opportunity for online payments

" Online shoppers in the United Kingdom make 87 percent of their retail purchases (grocery shopping not included) online. That's an increase of almost 9 percent compared to the situation last year, when 80 percent of retail purchases was conducted online." Source : https://ecommercenews.eu/87-of-uk-retail-purchases-made-online/

"In 2017, e-commerce sales accounted for 9 percent of all retail sales in United States, this figure is expected to reach 12.4 percent in 2020." Source : https://www.statista.com/statistics/379112/e-commerce-share-of-retail-sales-in-us/

OP, you have to be specific if you mention statistics on this forum. You also have to quote your source like I did to substantiate your claims or people will think that you just thumb suck statistics.  

" In 2017, e-retail sales accounted for 10.2 percent of all retail sales worldwide. This figure is expected to reach 17.5 percent in 2021. Online shopping is one of the most popular online activities worldwide with global e-retail sales reaching 2.3 trillion U.S. dollars in 2017.
Source : https://www.statista.com/statistics/534123/e-commerce-share-of-retail-sales-worldwide/

[dothebeats]

Pretty sure the numbers are significantly higher than what was stated in your post, OP. In third-world countries alone, numbers are somewhat ramped up and even I pay things mostly through QR codes and online payment channels as long as I see the opportunity to. The retail market is growing fast, and so does online payment channels and merchants accepting such, so obviously 10% is kinda an outdated figure by now.

[munareal]

I do not use my Bitcoin for online transaction because I do not use it as a payment method. I see my bitcoin holdings as an investment to HOLD for the future when I will make good profit. I believe many small Bitcoin holders behave like me.

[Malsetid]

I don't think 10 percent is bad at all though. For a society that has been so used to making transactions face to face, that's already a good number considering that online payments just got the recognition it's meant to have just a few years ago. It' going to take bitcoin transactions  bit longer since trust issues and fluctuation will take time to get over with.

[traderethereum]

I guess that it's not about the percentage, but it's about how cryptocurrency being accepted by the merchant. I think that statistical is not the right number because we never know how many of them.
But if that 10% is right, then I think that is great since we can reach that number so far and I am sure that the number will increase in the future.
Cryptocurrency soon will reach more merchant, and they will use cryptocurrency especially bitcoin as the next new payment method so people can use cryptocurrency to buy something.