I figured now would be a good time as any since payments are now being announced this week. I am fairly new to crypto meaning about 3 years or so. I'm no expert in trading and all the new projects with new concepts and goals better then the last. Alt coins for fun haha just kidding.
The focus though is payments. What do you do with crypto...hold and hold for a price to sell...taxes..stress..the trade life. Should I have sold will I wake up and be mad I sold? Yes to all those. Now that crypto is becoming more and more popular..even to the average person. What's Bitcoin? I get asked that all the time by someone when I use a atm that you can buy and withdraw. With covid getting better and weather changing in certain areas...people are going back to the normal life. Shopping, going out, eating out, and so on. Well here is the payment part. Now look at the downside of crypto payments...the volatility. Who will want to make or take a payment that could be more or less 10 mins later? I wouldn't what benefit do I have as as merchant to take bitcoin as as payment that's get transfered into usdc, use, whatever the final currency will be. I would assume if party A takes your Bitcoin and converts it for party B to USD to settle your payment. Party A wins because they bought your Bitcoin and gave you cash up front for the value but still holds your Bitcoin. Now party A has 1 Bitcoin which is why they don't charge a conversion fee.. conversion to what? It was never converted just simply giving the current value at that time. So bitcoin goes up tomorrow to 65k party A just made 10k. Now I assume you all get the rest of the system.
Payment systems which are far and few atm that I currently know of. By payment systems i mean networks not a Visa card by crypto.com. A system that makes sense for consumers and merchants that will benefit from both. The amount of fraud on the current system is insane. I will put together a blog about the payment systems with links to their website and their goal. There is more then one but not many. Accepting payments was the first step now it's adopting and bringing it to the common person and merchants. This was my first blog so hope you all like it and I look forward to your comments.
