Quote from: Abiky on October 12, 2019, 01:42:43 AM

Quote from: coin-investor on October 08, 2019, 03:38:56 PM

They can co-exist, merchants cater to all walks of people, there will always people who will prefer a credit card and paypal even though they have Bitcoin to pay, some buyers are not comfortable buying something online that they cannot demand a chargeback in case there is an in issue and they want to escalate it, something that Cryptocurrency can't offer, it's better all options are available to protect the buyers.

Exactly. Depending on a specific person's needs, will be the form of payment to use. Because of this, it's very unlikely that either Bitcoin or traditional payment processors will dominate the world of finance. Aside from being two distinct things, they have their own unique advantages/disadvantages. People who prefer blazing fast transactions would choose traditional payment processors on top of Bitcoin. For other people, Bitcoin is an All-in-one solution for finance as it provides censorship-resistance unlike any other payment system to date. Of course, traditional payment processors still have the lead within the mainstream world because many merchants support them. But Bitcoin could also reach the same level of traditional payment processors in the future, if it continues to grow in development and innovation.

With the Lightning Network underway, Bitcoin could easily become comparable to the likes of Visa and even Mastercard. It's only a matter of time before this happens, as developers are working hard to make Bitcoin a better place. The only issue would be price volatility, but that could easily be solved via the use of a stablecoin like Tether or USD Coin.

Nonetheless, both Bitcoin and traditional payment processors will stay head-to-head for many years to come. I believe that there will be a diversity of blockchain networks, as well as, traditional payment processors that will cater through the needs of everyday users. The latter could easily adopt Blockchain technology for their own benefit if they desire. Once they make the switch, they'll be as good as Bitcoin and other cryptocurrencies within the mainstream world. Just my thoughts Grin

Depending on where you are you might prefer cash or crypto. I still think keeping fiat is a vaiable option and can have its uses. Maybe even for nostalgia sake or to stay "old school".
You will probably want cash for places that need very fast transactions at events and fairs and markets where things are exchanged quickly. Though in the future when things pick up a little it will be easier to just simly point your camera at the qr code and add the payment like that. I say cash because most of these places like to deal with cash anyway. I use cash at these places to avoid banking fees incase I buy from various different stores. The transaction speeds will also need to be very fast then.

Yes, bitcoin will be comparable to bigger banking and credit companies. It will just be another option like any other. Already I see online stores with the bitcoin logo and payout option.