Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: amberrrr789 on October 10, 2022, 05:22:02 PM
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The launch of international cryptocurrency payments has been made possible thanks to a partnership between one of the major cryptocurrency exchanges in the world, FTX, and financial services giant Visa. The FTX website states that using the card to pay for goods and services is free. Furthermore, obtaining a debit card is cost-free.
According to Cointelegraph, FTX works with the more seasoned payment network as opposed to Lightning Network. This backs up Sam Bankman's claim that Fried does not consider Bitcoin to be a workable payment network, especially given that its price has been bouncing around the low $20,000 range. On the other hand, the statement caused the price of the FTX token, or FTT, to rise 7%, reaching a high of $26,462 on Friday, October 7.
Even if the first cryptocurrency (BTC) was created more than 10 years ago, adoption of cryptocurrencies and the growth of payment services are still in their infancy. Retailers are hesitant to employ scaling solutions like Lightning Network due to their fear of price volatility.
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Bitcoin volatility always becomes debatable for a long time ago. For, in the one side, Bitcoin's volatility is good enough for those who are doing investment or trading. They can earn money from the volatility, and utilizing volatility to get high profits is very worthy. We have found this several times.
On the other hand, if used as a currency, yes it is very risky and volatile because sometimes people want to get cash out from their selling something but the price has dropped after getting the payment
These are the pros and cons that will always happen
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The use of Bitcoin as a means of payment has few problems in terms of fluctuations, this situation has been a lot of discussion, but some big companies use Bitcoin for long-term investment, so they don't sell Bitcoin before the price goes up, for retailers it seems difficult to use Bitcoin to pay for a cup of coffee, this is what many people still think, if there is a platform that can solve this problem, then that's great.
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Sam was just telling the truth, at least for the moment. No company or government will accept payments in an asset that changes by 50-70% in a few months like BTC or Altcoins. In the future, when BTC becomes a reserve asset, we can expect that its price will be stable and popularly used in large transactions around the globe.
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Sam was just telling the truth, at least for the moment. No company or government will accept payments in an asset that changes by 50-70% in a few months like BTC or Altcoins. In the future, when BTC becomes a reserve asset, we can expect that its price will be stable and popularly used in large transactions around the globe.
Yeah, I agree
Bitcoin is too volatile for future payments, but we don't know, How bitcoin at the coming future, maybe it will be more stable.
I think bitcoin has potential to be.
But let's see at the next few years again.