Bitcoin Core developer Jimmy Song stated in his Twitter account that it’s better to use credit cards as payment than Bitcoin. He believes that this approach is more rational and convenient than using multiple onchain transactions.
If you want to use Bitcoin as a method of payment, this strategy is more rational and convenient than doing lots of on-chain tx's:
— Jimmy Song (송재준) (@jimmysong) October 8, 2018
1. Spend with your credit card with no debt on it.
2. When your credit card bill comes, sell just enough bitcoin to pay the bill.
Jimmy Song offers credit cards for daily payments. Then he advises paying off monthly credit card bills using Bitcoin. In his opinion, such a mechanism would entail the execution of one onchain transaction and not several for each purchase.
Several Bitcoin Core developers support Jimmy Song’s idea, urging network members not to use BTC for daily payments. At the same time, Song's tweet provoked a strong reaction on Twitter. To many people this advice seemed strange, considering that the cryptocurrency was originally conceived as an alternative to banking systems.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.