Bitcoin will NOT surpass traditional methods of payment. Convince me.

[Ryker1]

Well, who says the Bitcoin is created to surpass the traditional payment method? Because, as far as I know, --the Bitcoin was created just so the people can have an alternative payment option while having transactions online. Bitcoin is like the first version of the windows operating system. The most basic, but the foundation of its next generations.

Indeed, I can tell that Bitcoin is at its early stage. We won't need to convince each other here. We are here to observe what will happen to the next era of the payment methods and trades.

[1714506303]

1714506303

[anoufal]

Why try to convince someone of something. We will soon know the answer. But I don't think it will happen in the next 5 years.

[Wintersoldier]

You are right on saying that. However, I think that although crypto might not be a good alternative to fiat and such payment methods, the decentralization is very much needed in the modern world as institutions and businesses are making the wealthy wealthier and poor poorer by their manipulative techniques. Every pros come with cons, it's just how we manage to milk out from it.

It is quite true that regulation is what restricts people to do what they want in their own way, but I've known allot of people getting rich without considering the fact that they save their money to banks, in the first place banks will really help you to safely store your money, incase that the bank get's robbed, they have the option to still give the money of the people back because they are backed by the government. decentralization on the other hand will grant complete ownership of bitcoin and crypto, thus, taking the opportunity of regaining back the funds if it lost.

[Lauren Smith]

You are right on saying that. However, I think that although crypto might not be a good alternative to fiat and such payment methods, the decentralization is very much needed in the modern world as institutions and businesses are making the wealthy wealthier and poor poorer by their manipulative techniques. Every pros come with cons, it's just how we manage to milk out from it.

It is quite true that regulation is what restricts people to do what they want in their own way, but I've known allot of people getting rich without considering the fact that they save their money to banks, in the first place banks will really help you to safely store your money, incase that the bank get's robbed, they have the option to still give the money of the people back because they are backed by the government. decentralization on the other hand will grant complete ownership of bitcoin and crypto, thus, taking the opportunity of regaining back the funds if it lost.

How will someone get you it funds? You can't Rob a bitcoin address like your u can with a bank. A bank is physical and a waste of space. Who told you that stolen funds will be given back? If you have your money stolen the banks not going to replace it. Only if it's their fault. If you get hacked or your money is stolen some how like you held up at an ATM then guess what? Tough luck that's life. Do you honestly think the bank will replace stolen money? That means criminals would generate infinite funding without ever effecting the balance of anyone's account but the value of the currency will go down. Oh and I know you talking about banks being h ld of up and robbed what a useless and stupid argument. Bitcoin has no bank your u are the bank.

[Kevondo]

You are right on saying that. However, I think that although crypto might not be a good alternative to fiat and such payment methods, the decentralization is very much needed in the modern world as institutions and businesses are making the wealthy wealthier and poor poorer by their manipulative techniques. Every pros come with cons, it's just how we manage to milk out from it.

Decentralization is needed and it is acquired by the people. I am against your idea of it cannot be act as an alternative of fiat, I am of the view that not in future, but in present time it is acting as a best alternative of fiat currencies. People have adopted it as an option at all places where it is acceptable as a payment method. People are also investing huge amounts in trading with digital currencies. These are the results of its usage and acceptance by the people.

[Wipeout2097]

Bitcoin is not accepted by the world central banks and the governments but it doesn't matter because the use of Bitcoin increasing day by day. Question arises why people switch to Bitcoin?Obviously they feel more comfort as compare to traditional banking system.

It is acceptable that the transaction of Bitcoin slow than the Ether,So if we talk about overall crypto it will be accepted by the people and if not now but later it will be legalized and no once can stop the crypto. 

[ChrisPop]

Your concerns are valid but first of all I'm not sure if there is any entity producing that amount of ASIC miners. Only if they would buy another miners' whole operations by paying a supra-price for their operations, but I don't think any mining farm would give up their mining operations taking into account the upside potential that Bitcoin has.

BUT, as far as I see Bitcoin - as a currency is not yet a threat for banks and probably they won't consider interfering in this way with the cryptocurrencies and by the time they do believe is the time to interfere it is going to be too late as (my belief) is that BTC will actually start being used for daily, mundane transactions only when its value will be somehow stable.