Re: Is bitcoin a better payment system?

The answer is that it often is not, at least for most people, most of the time.

wrong! bitcoin IS a better payment system. the correct statement would be bitcoin is not perfect. and what is perfect in the world that we live in? nothing!
of course there are always pros and cons to any system and bitcoin is no exception either. but the advantages are outweighing any kind of disadvantage or imperfection that bitcoin may have and that is acceptable.

I believe once bitcoin reaches full scale and the second layer scaling infrastructure has been completed it will enable a much better, faster, cheaper, more open and transparent payments system. The current financial system is so manual and inefficient.

the second layer scaling solution is also no perfect. although it is a good and very interesting solution but there are still downsides to that too. but as I said as long as advantages outweigh all these downsides we have a good system, and that's how bitcoin is.

But isn't everything boils down to the Bitcoin being deflationary currency which will make people HODL it instead of actually using it as a payment system. Whether it's for LN or not, transactions are pretty fast and cheap ATM. But right not BTC is largely a speculative asset with not enough utility. Adoption is needed to be increased in order to make btc an effective payment system.

yes bitcoin is mostly used by speculators as an investment but that doesn't mean it has no other usages! there are still a lot of people who are using bitcoin as a currency and pay for stuff online or offline. you can see all the online shops that are accepting bitcoin, you can check out the merchants in Japan that have been accepting bitcoin for a bout a year now. and on top of that you can always check out BitPay which is processing payments to merchants and services. BitPay said they have been processing $110M+ in bitcoin payments per month so you can't say there isn't enough utility!