Quote from: omrafif on August 15, 2019, 07:38:43 PM

Compared to other payment methods, Bitcoin comes with lower transaction fees but actually accepted by a very small group of users. Many people are still not aware of the existence of digital currencies also the price of bitcoin changes daily and dont have a physical form that means it cant be used in physical stores.

While Bitcoin doesn't have a physical form (intangible), it's still a valuable cryptocurrency for the whole world to use. The main issue here is the lack of scalability within the BTC blockchain which makes transactions slow and fees highly expensive. Even with these limitations, Bitcoin is still a lot cheaper and faster than traditional payment processors. It may not be known across the whole world yet, but it will as soon as governments legitimize its usage.

Right now, Bitcoin has all the odds of winning the battle against traditional payment processors like PayPal and Western Union. With the right amount of development and innovation, it could soar to new heights in terms of pricing and user adoption. We already have the Lightning Network underway, which promises to provide instant transactions and dirt cheap fees. While it's bound to become stable soon, we can enjoy other cryptocurrencies that provide such benefits (like XRP and XLM). I'm sure that people will prefer Bitcoin and other crypto on top of traditional payment processors because of their resilience, and most of all, anonymous nature (sort of).

Nonetheless, Bitcoin might never end up replacing traditional payment processors in the future, as they adapt to Blockchain technology. Considering how stable Fiat currencies have been a long time, there's no reason why people should avoid using centralized payment processors in the future. Just my thoughts Grin