Will Bitcoin ever become a widely adopted global payment solution?

[isaac_clarke22]

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To be used through peer-to-peer transaction, it might take a while.
Here in my country, we already have certain apps like Coins that allows us to pay our bills though not all merchants are allowing the payment through it just yet. It is still third-party app in the end, but it is a payment solution.

[Ozero]

Yes, this will definitely happen. Bitcoin, with its high trading volume and global investment due to rising prices, could be one of the global payment solutions. I do not know when this started, but do not doubt that it happened. It has started and we are in the middle of the road.

Unfortunately, bitcoin has not yet become a widespread means of payment. So far, two factors hinder this: the expectation of participants in this market for its further high price growth, as a result of which very few people decide to use bitcoin as money, when in the future its price may increase many times. The speculative interest in this case far exceeds his interest in using it as a means of payment. The second factor is also common knowledge, it is still low scalability and high transaction costs. Now many altcoins have achieved better results in this regard. Of course, cryptocurrency is still developing rapidly and bitcoin still has a chance in this regard.

[Nunoluck]

Bitcoin adoption is still in progress and I am sure that bitcoin will widely used by many people around the world. I think although maybe it will not be the main currency because likely government will force their citizens to use Fiat as main currency. I think bitcoin will be the best and most popular alternative payment method. In my opinion bitcoin is better than any remittance service. I personally feel very lucky because bitcoin is created, I can pay many goods and services in website with very simple and easy way unlike when I use other payment method.

[mrongoz22]

will bitcoin become a global solution that is widely adopted, I believe and believe it will, because bitcoin has proven to be a good global currency, and is able to bring many advantages, in the future bitcoin will definitely be widely accepted. .

[dmamigo]

Bitcoin adoption is still in progress and I am sure that bitcoin will widely used by many people around the world. I think although maybe it will not be the main currency because likely government will force their citizens to use Fiat as main currency. I think bitcoin will be the best and most popular alternative payment method. In my opinion bitcoin is better than any remittance service. I personally feel very lucky because bitcoin is created, I can pay many goods and services in website with very simple and easy way unlike when I use other payment method.

Bitcoin might be used widely but I doubt it can be used as the main currency and not because of the government.
People might not use them as the main currency because of the high transaction fees. It is quite clear that the transaction fees will go up if there is a rise in the price.

The higher fees will obviously affect us because users might have various payment methods to transact globally with lower fees. I agree the ease of transaction is better with Bitcoin but if the fees are too high many users will use other payment methods.

[mrongoz22]

this can happen, but all of that requires a very long process, and requires a very long discussion, because for now there are still many people who hate bitcoin, and there are still many who don't know what bitcoin is at all, so this is not the time to talk about all that.

[capcaypro]

this might happen but of course it is not easy and it will take a long time to realize this.
Why did it happen? the reasons are quite a lot because
1. Many governments still prohibit the existence of bitcoin.
2. there are still many people who are not familiar with bitcoin and they still consider bitcoin as a taboo subject.
3. The move from fiat money to bitcoin is very difficult to do globally and definitely requires work and explanation in detail and easy to understand so that people are interested.
but hopefully this can happen in the future and hopefully people will start to know about this bitcoin and start to be interested in investing in it

[acener]

Maybe it could but would we use it as a payment option when we have cash?
Let's just say that you could use it without a fee or the transaction time is instant, Would you really use it as a payment ?
Are you willing to use it knowing that the price fluctuates and you could use it to earn more?

[Gamerholic]

It is not surprising to see such a poll result, because in fact we are already seeing it. Yes, in some parts there is a struggle between those who oppose bitcoin and want to replace it with their own digital financial solutions like China, for example. But most other countries cannot do this, and they probably don’t want to. I think we will see a world where there is bitcoin, digital yuan, and ordinary money for a long time to come.

[mk4]

It was never a collectible,,, totally disagree there.

I guess we can assume that there might've been some people that considered bitcoin to be a collectible back in the early days, knowing that it was initially worth nothing. Just some magic internet tokens that are freely transferable.

[cabron]

BTC is widely adopted globally as a payment solution already, it's just that we in crypto are the ones using it. Some people are still using the remittance companies but basically, BTC can be used along with these remittances which unknowingly those guys are still connected to the financial system that one day may start using BTC as well. The government now regulating crypto market is just the start of massive adoption.

[kidbounty]

can, but its users will be limited. one of the reasons is because the fee is quite large compared to other methods. but there are many other crypto coins that can be used for this. stablecoins, privacy coins or cheap coins like doge could be alternatives. although not bitcoin, but the future of payments will still be held by cypto.

[Anonylz]

As an additional option for payment I most certainly think yes but as an adopted global payment it is highly unlikely, however,  the future remains the future,  it is impossible to know what will happen but certain things that are happening now can help us imagine what the future may look like, right now the majority who owns btc only have it as an asset for investment to make money more than as a payment means.

[Dread Pirate Roberts]

First of all when in 2011-2017, I really believe that it can happen. because the transaction is very fast with a very cheap fee. how can something like that not be accepted for better payment right?    but getting here after price reach 10k+ transcation confirmation so slow and also the fee for each single transaction so high, im still hoping there is will coming new wallet more than segwit address that will giving lowest fee. honestly if i make online payment transaction with crypto i choose some coin that will have lowest fee and also fastest confirmed transaction.

[kojektea]

yes, it can happen, the problem is how about the true price is unstable, expensive costs, these two factors make bitcoin difficult to become a payment method because every time the forecast is always changing, but bitcoin is still considered a new financial technology.

[ethereumhunter]

I vote for yes because bitcoin can be accepted as a global payment that can help fiat transactions and people do not have to convert their local fiat money when they travel to other countries. People will have other solutions to pay and they can carry bitcoin in their wallet on their mobile phone, so they do not have to use a bag with many cards or physical money. It helps people use bitcoin anywhere they want, as long as a store accepts bitcoin for the payment transaction.

[davis196]

Satoshi envisioned Bitcoin as a Peer-to-Peer Electronic Cash System. While it can and has been used for payments, its use as a medium of exchange has so far been very limited.

It has moved from being a collectible to a store of value. Will it ever move to being a widely adopted medium of exchange and global payment solution?

Bitcoin will become widely adopted only if the BTC price becomes more stable and the governments/central banks allow BTC to be widely adopted.
We have to face the truth.Bitcoin cannot become a truly global currency,if:
1.Governments don't like BTC,because of tax evasion,money laundering,energy consumption,any other FUD,etc..
2.Small business owners don't like BTC,because it's highly volatile.
3.The transaction fees and confirmation time can increase a lot sometimes.

[Questat]

Satoshi envisioned Bitcoin as a Peer-to-Peer Electronic Cash System. While it can and has been used for payments, its use as a medium of exchange has so far been very limited.

It has moved from being a collectible to a store of value. Will it ever move to being a widely adopted medium of exchange and global payment solution?

Bitcoin adoption had started growing, it takes time to finally accepted by all people, not this time but could be happening in the future. Perhaps, we are seeing that many establishments are accepting Bitcoin's payment now. It was just an indication that in the coming years, the majority of the business globally will able to cope with the new technology as we know that we are more on the online payments system.

[pjvperes]

One of the biggest problems of bitcoin become widely adopted global payment solution is the scalability. The Bitcoin Blockchain can process something between 3 and 7 transactions per second while some credit cards companies as VISA can process thousands of transactions per second. To increase how many transactions bitcoin can process, some people defends increasing the block size, which is 1mb nowadays. However, when you increase the block size, the bitcoin become more centralized.

This is the biggest problem: scalability vs descentralization.

In 2017, people begin a discussion about increase the block size from 1 mb to 8 mb. However, it would become bitcoin more centralized. People didn't reach a consensus and it caused a hard folk, creating Bitcoin Cash (CSH), another crypto very similar to bitcoin, but it has bigger blocks and is more centralized.

[(o)(o)ilikeboobs(o)(o)]

One of the biggest problems of bitcoin become widely adopted global payment solution is the scalability. The Bitcoin Blockchain can process something between 3 and 7 transactions per second while some credit cards companies as VISA can process thousands of transactions per second. To increase how many transactions bitcoin can process, some people defends increasing the block size, which is 1mb nowadays. However, when you increase the block size, the bitcoin become more centralized.

This is the biggest problem: scalability vs descentralization.

In 2017, people begin a discussion about increase the block size from 1 mb to 8 mb. However, it would become bitcoin more centralized. People didn't reach a consensus and it caused a hard folk, creating Bitcoin Cash (CSH), another crypto very similar to bitcoin, but it has bigger blocks and is more centralized.

We can use Bitcoin more widely if the means of payment agreed to wrap Bitcoin on another blockchain. That will reduce costs and faster confirmation times. Nowadays, there are many successful wrapped blockchains, the most important issue is whether people in the world will accept Bitcoin in a wrapper or not?!?