Bitcoin Developer Recommends Credit Card Payments Over Bitcoin

Bitcoin

Usually, project developers are expected to promote their work as the best alternative to the competition. However, in the name of transparency, Bitcoin developer Jimmy Song tweeted that it is “more rational” to use your credit card first and pay it off with BTC:

Fusing the Old and the New

Song recommends this method as it reduces the number of transactions on the Bitcoin blockchain. The idea is to minimize the process to merely one settlement. This not only enables investors to pay bills with Bitcoin, but it works to solve the congestion problems from which Bitcoin and many other blockchains often suffer.

The tweet was liked by different Bitcoin developers and advocates, meaning other influential minds agree with Song. According to News.Bitcoin.com, other team members have shared similar opinions to Song’s, such as speaking against users paying with Bitcoin during a related meet-up.

Initially, these statements come off as anti-Bitcoin, which can be disconcerting as they come from developers on the project. However, reducing the number of transactions is arguably the best way to prevent network slowdown. One of Bitcoin’s latest innovations, the Lightning Network, is already working to fix congestion. The Lightning Network verifies transactions off-chain before confirming to the main one, providing a viable pathway for multiple, smaller transactions.

Regardless, some Twitter users took Song’s statement a little too harshly:

Join the NEW Unhashed Telegram or Follow Unhashed on Twitter for the Latest Cryptocurrency News Updates!

Bitcoin Bitcoin $6,650.37 +5.25%
Ethereum Ethereum $209.43 +4.74%
XRP XRP $0.44 +5.43%
Bitcoin Cash Bitcoin Cash $459.96 +3.15%
EOS EOS $5.43 +3.86%

Subscribe for the latest cryptocurrency news

Please enter a valid email address.
Something went wrong. Please check your entries and try again.

More Crypto News

Solo Mining Bitcoin and Is it Profitable?

September 18, 2018

When Bitcoin launched in 2009, it became the world’s first cryptocurrency. By utilizing miners that…

Three Crypto Wallets Removed By Google Without Warning: CoPay BitPay and Bitcoin.com

September 14, 2018

Google is once again displaying its distaste towards the cryptocurrency space by removing three wallets…

Small Canadian Town Gives in to Ransomware Hackers, Sends Bitcoin

September 12, 2018

Ransomware is a malicious form of software that makes a device unusable until the victim…

Subscribe for the latest cryptocurrency news

Please enter a valid email address.
Something went wrong. Please check your entries and try again.
Scroll Up