BTC Developer Jimmy Song Suggested it Would be Better to Use Credit Cards than Bitcoin

A Bitcoin Core (BTC) developer, Jimmy Song, suggested that it would be better to use credit cards as a means of payment rather than Bitcoin. As he explained it would be more rational to use credit cards instead of on chain transactions. Of course, his comments have created different reactions in the community, most of the enthusiasts reacted very angrily about his comments.

On October 8, BTC developer Jimmy Song wrote a tweet in which he says that it would be more rational and convenient to use credit cards rather than Bitcoin. He said that it is better to spend funds with a credit card with no debt on it and sell enough Bitcoin to pay the bill when it comes.

In this way, it would be possible to pay for different goods and services but instead of performing several on chain transactions, users would only have to perform one. This is in line with what Blockstream CSO, Samson Mow, said about bitcoin and cryptocurrencies. Mow said that Bitcoin is not for people that have less than $2 a day and that these individuals may not even be able to handle a computer or telephone.

It seems that Bitcoin Core developers do not want users to spend their BTC. Instead, they ask users to avoid processing on chain transactions as if it were something bad and not economically rational.

There are different kinds of Bitcoin users. For example, in the past, in several rich countries, individuals bought important amounts of this cryptocurrency and then they became millionaires, so they do not need to transact at all times. However, there are users in less developed countries that would use Bitcoin to avoid regulations, controls, and perform daily transactions. For example, in Venezuela, they use other virtual currencies for daily purchases and not Bitcoin.

But Jimmy Song did not realize that there are hundreds of thousands of Bitcoin users that do not have the possibility to own a credit card and that are not connected to the financial system.

Clearly, there were some users complaining about what he said. Some of them were explaining that the best option is to use another virtual currency such as Bitcoin Cash (BCH) that does not have problems to handle daily transactions.

Others attacked him for promoting the use of traditional financial methods rather than virtual currencies.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide