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[7788bitcoin]

But Moneygram and WU were downhill and unsustainable businesses from the get-go. Crypto was probably just a catalyst in doing this.

Honestly, I'm not even sure why WU stock is still around and why it has a $8.5bn market cap. It's quite clear that their business model is archaic even by normal banking standards in the 21st century and most of their customers are fraudsters.

Expect Moneygram or Western Union to start accepting Bitcoin in their business just like PayPal did i am sure they will come up with something that could sustain their business. The reason why they have a billion market capital is obvious, not everyone is using Bitcoin and there are countries that relay on these payment processors for long distance money transactions .

[Kadal Ijo]

The crypto community that continues to increase and the daily transaction volume that reaches more than $150 billion certainly makes payment processors worried, if there is negative news about crypto then I'm sure most of it is from payment processor sources because since crypto has been shining, everything is done to stop it, and in fact crypto continue to succeed and will make the payment processor die soon.

[LUCKMCFLY]

The crypto community that continues to increase and the daily transaction volume that reaches more than $150 billion certainly makes payment processors worried, if there is negative news about crypto then I'm sure most of it is from payment processor sources because since crypto has been shining, everything is done to stop it, and in fact crypto continue to succeed and will make the payment processor die soon.

Yes, the truth is that I did not know that it had such a large number of payment processors in free fall, obviously this is still a long way off, for example in Venezuela the payment processors are mostly dead, both Visa and Master Card credit cards are history , they do not generate any type of credit, now the payment processors that are used the most are with Zelle, and now they will have more restrictions, which means that it will no longer work.

The only payment processor that is enabled in some stores, such as the one called Traki, if they accept cryptocurrencies, both BTC, USDT, TRX, and it is the only store that I have seen that does not have any payment problems.

[Quantum907]

There are more and more cases of hacking and complaints from payment processor users, and now there are payment processor applications that replace if a loss occurs but as usual claims for replacement take a long time, poor security systems make us have to leave the payment processor and immediately switch to crypto.

[Abiky]

Expect Moneygram or Western Union to start accepting Bitcoin in their business just like PayPal did i am sure they will come up with something that could sustain their business. The reason why they have a billion market capital is obvious, not everyone is using Bitcoin and there are countries that relay on these payment processors for long distance money transactions .

If Bitcoin continues to rise, there's a high probability payment processors will adopt it for their own benefit. After all, everyone wants a pie of the pie. I don't think payment processors will go anywhere since Fiat is too big to fail. Crypto may be faster and cheaper to use at times, but it's widely unstable in price. This makes Fiat a true winner for day-to-day payments.

We're going to have to see whenever El Salvador's decision to adopt Bitcoin as legal tender, will force payment processors to close up shop. I highly doubt that'll happen because of the reasons described before. It seems to me that crypto and payment processors will co-exist for generations. Just my thoughts

[Lubang Bawah]

The things that make people leave traditional payment processors are complicated procedures, large transaction fees and of course a weak security system, crypto is the best solution to make all things related to assets and transactions easier, cheaper and of course high security, this is what will make traditional payment processors soon disappear on earth.

[tygeade]

If Bitcoin continues to rise, there's a high probability payment processors will adopt it for their own benefit. After all, everyone wants a pie of the pie. I don't think payment processors will go anywhere since Fiat is too big to fail. Crypto may be faster and cheaper to use at times, but it's widely unstable in price. This makes Fiat a true winner for day-to-day payments.

We're going to have to see whenever El Salvador's decision to adopt Bitcoin as legal tender, will force payment processors to close up shop. I highly doubt that'll happen because of the reasons described before. It seems to me that crypto and payment processors will co-exist for generations. Just my thoughts

That's what people do not understand. People think that payment processors, banks and other places like stock market companies and such are "afraid" of bitcoin or crypto because it may takeover. What they do not realize is that if there is a dime to make from it then these places will jump on it. Binance and Coinbase are making so much money from it, it is only matter of time for Banks to get involved.

Your bank allowing you to buy/sell and hold bitcoin is not too far away, that will happen eventually and during that period you will realize how fragile crypto regulations are and how quickly it can change. Since, these places love to bribe politicians and politicians love to get bribes, they will just pay them to make a law like that and allow banks to do something similar. If exchanges are allowed, banks getting into it should not be too difficult to allow neither.

[magnum1010]

People start using crypto as they see many obvious advantages of it over fiat money. One of them is freedom. People can freely transfer any amounts of money with low fees (on Polygon, Tron, Binance Smart Chain). I don't think that government will let crypto replace traditional bank system in the nearest future as they can't not to regulate financial sphere of people life.

[Argoo]

I had a serious question from an economics student in my country, and he was intrigued by the news that El Salvador had adopted Bitcoin.

He said: Would it be enough with the current available supply, if all countries adopted Bitcoin as a legal payment like El Salvador did? if enough what is the reason?

As someone who has limited knowledge, of course, I can't answer it scientifically with strong references. So dealing with this exact topic would be invaluable for me to gain enlightenment from those of you who understand more than what I know.

thanks ...

Regarding Bitcoin offers, it will be enough for all countries that want to use Bitcoin as a means of payment in the future. It should be borne in mind that each bitcoin contains one hundred million satoshi. The high price of bitcoin will allow you to pay with a certain amount of satosh.
The fact that El Salvador accepted bitcoin as a national means of payment, and even taking into account the fact that Bangladesh is already considering such an opportunity in its country, does not mean the beginning of the end to traditional payment systems. We see that weak backward states, where there was not even a national currency, are interested in bitcoin. The developed countries will not agree to this.

[Dragonfund]

Cross border payment has been a headache in some judiciary countries and crypto has been a headache paracetamol for some people but despite that, it's not match for the number of people out there. Visa till today still has more throughput and efficiency to effect large transactions for everyone, Bitcoin on the hand is still very low despite improvements. If everyone decides to come on board into cryptocurrency, many chain will collapse and have lots of down time.

We need to scale up the transaction throughput to match the number of demands in traditional ecosystem.

[Ozero]

It is too early to judge the positive experience of El Salvador, which has adopted bitcoin as an official means of payment. So far, only six months have passed and this is too little for financial payments. But it is unlikely that the example of El Salvador will be followed by other states that have their own currency and a healthy economy.
The traditional payment system of states, if it will undergo changes, will be insignificant. Banks will continue to implement blockchain technology in payments and issue their CBDCs. Most likely, we should expect some decrease in the volume of cash in circulation. But in general, the traditional payment system will remain.