Bitcoin (BTC) has been around for nearly a decade and despite widespread adoption, very few merchants who accept digital currency. The first known purchase using Bitcoin back in 2010 when the developers are offering to pay the two pizza using BTC. May 22 is the day. As many as 10,000 men were sent to BTC pizza. At the time, BTC traded less than $0.10 USD, total $700 for the second pizza. The value of the BTC currently is around $80 million USD.

Stories like these have seen the adoption of BTC overall as a form of payment to the merchant increases exponentially. However, some shops and a retail store this mentions the lack of customers, transaction costs are expensive and the volatility of the most persistent problems being faced Bitcoin as payment system according to one post.

This among other reasons have stifled adoption Bitcoin overall pay in goods and services.

The problem affects the Bitcoin traders

Traders have a case to fire the fabled BTC told because its system is slow and expensive. Bitcoin was first proposed as a mechanism to make the transaction more quickly and through peer-to-peer. This network has an average transaction speed is 5-7 TPS are relatively slow to blockchain. With transaction costs rose to 0.6% per transaction at the time of high-volume, trading platform sometimes can be more expensive than the current payment system.

Traders may find the nature of the transaction the BTC are expensive and slow into the barriers in their business. It was reported in January that some transactions takes up to 3 days to be confirmed in a crowded network.

The advantage of using BTC as the payment system

1. Bitcoin has the largest customer base

Bitcoin (BTC) is currently the largest coin in the adoption, market capitalization and media attention. This makes it most suitable for traders to use as a payment system. The current coin has a total dominance of the market about 40% that shows you the overall impact and adoption of coins as a whole. Altcoin the smaller struggling to beat the BTC in this case because merchants are unable to find customers using other altcoin. For merchants using the cryptocurrency at this time, payments accepted over the BTC 80% of these stores.

1. Bitcoin affect altcoin

Traders are increasingly looking to change the payment system with payment Unveils cryptocurrency. The choice between more than 1600 crypto current currency with each spread the problem they want to solve. Because of the Bitcoin already have the problem of speed and speed at the site, have it as their main payment system will not be sustainable with more people using the system.

However, a Bitcoin can still be used as a storage value for traders. Customers pay using altcoin such as Dash, mengonversinya to the BTC, and save it because the BTC control market prices effectively. Altcoin others offer higher risk than BTC with a price that is highly correlated with BTC.

Conclusion

BTC offers the best option for traders to use today as a base for other cryptocurrency profits. The issues facing the BTC is the solution to the problem of the current payment system. Considering that the bank payment may take up to 5 business days for the transaction to be verified, average time BTC about 30 minutes per transaction faster. However, it is best to use the BTC as the keeper of the values as they are happening on other blockchain a faster and cheaper.

Bitcoin (BTC) is currently trading at USD $7,743.59, representing a increase of 1.5% in the last 24 hours. Market capitalization at $132,197,019,762 USD increasingly cemented its top floor position in Coinmarketcap. BTC is expected to reach a value of $10,000 USD at the end of 2018.