Bitcoin has the potential to reshape global payments by offering faster, borderless transactions with lower fees compared to traditional banking systems. As more businesses and countries like El Salvador adopt Bitcoin, its role in international payments could grow. However, challenges such as regulatory uncertainty, volatility, and scalability need to be addressed. While it's not yet ready to fully replace traditional currencies, Bitcoin could become a viable option for cross-border payments and financial inclusion in the future.
What are your thoughts? comment below!!!
Bitcoin transactions can cost up to 40 US dollars and take over 30 minutes to complete. That's thousands of times slower/more expensive than even a plain old credit card transaction.
The only digital currency that will usurp credit card transactions is a digital currency that is actually 10-100x
faster than credit card transactions and 10-100x
cheaper than them, and currently only
currencies can claim that kind of advantage over normal credit card transactions.
Credit card transactions are ubiquitous and have been around for decades. The only way you replace an entrenched technology is to be 10-100x better. Bitcoin is 10-100x
worse for payments.
Bitcoin is a speculation instrument and nothing more. That is it's past, present, and future.