Bitcoin is considered as a method of payment in some businesses, although it is not very common nowadays. Although popular companies around the world are not currently using this method of payment, I know that some mid-range businesses and many small businesses receive payment by this method of payment. I think that the main reason why big companies do not prefer this payment method is price change and speculation. Companies may experience accounting and financial difficulties due to continuously changing prices throughout the year. In the coming years, if the volatility in the price changes decreases and the price becomes more stable, it will certainly start to accept Bitcoin as a method of payment. Even if this technology is spreading faster than we expect, we can see that payment is accepted with other cryptocurrencies.
Exactly! Bitcoin has different functionalities and serves with a unique purpose. Many counties in the world have already started to legalize bitcoin payments. It allows payments to be done internationally without having to worry of any conversions and aside from that its transaction fees are very low compared to credit and debit card purchases. It provides ease of transaction, no taxes on purchases, and lower risks for buyers. It may not be widely-adopted for now but I believe that in the long run more people will become fully-aware and educated of how beneficial Bitcoin is, realize its real value despite volatility, and regulations of Bitcoin in most of the countries will come into place. 
Topic: Acceptance of bitcoin as payment! - page 4. (Read 1004 times)
I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment
Apart from lack of acceptance, volatility and scalability are the biggest and boldest hinderance right now, we all want mass adoptions, means of purchasing, profits etc But right now due to its volatility, profit through buying and holding looks the most feasible, it's no ones fault really.
If the bitcoin could be stable and carry out more transactions speedily then adoption would be easily integrated
The other day I read on reddit that some dude was capable of sending and receiving money with %1.5 total to his friend in another state of usa (he was also in usa state) but it cost him 3.5% total on commissions to get bitcoin and send him money.
We all love to talk about how cheap the adoption should be and how people are getting ripped off by master and visa cards and so forth but we forget one eternal truth, financial world is greedy and even tiny 0.1% of something that brings in billions of dollars is big.
If you have 5 dollars and want to send it to your friend you can do it without bitcoin quite cheaply right now, it costs a bit but nothing major, same goes for anything like 100 dollars or so. It is a challenge when its worldwide tough, so from one country to another its a deal breaker. Nevertheless, when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.
We all love to talk about how cheap the adoption should be and how people are getting ripped off by master and visa cards and so forth but we forget one eternal truth, financial world is greedy and even tiny 0.1% of something that brings in billions of dollars is big.
If you have 5 dollars and want to send it to your friend you can do it without bitcoin quite cheaply right now, it costs a bit but nothing major, same goes for anything like 100 dollars or so. It is a challenge when its worldwide tough, so from one country to another its a deal breaker. Nevertheless, when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.
In your thinking you are right, but you are adding one more step when you describe the transaction that it made with bitcoins. And this is the conversion to fiat which makes it more expensive in your example.
With mass adoption you will not have the need to convert your crypto to any fiat because you can send-receive bitcoin instantly.
You also describe a transaction into the US federation. Have you considered the cost of transferring USD to AUSD and the costs for converting from the one to the other currency?
Bitcoin is considered as a method of payment in some businesses, although it is not very common nowadays. Although popular companies around the world are not currently using this method of payment, I know that some mid-range businesses and many small businesses receive payment by this method of payment. I think that the main reason why big companies do not prefer this payment method is price change and speculation. Companies may experience accounting and financial difficulties due to continuously changing prices throughout the year. In the coming years, if the volatility in the price changes decreases and the price becomes more stable, it will certainly start to accept Bitcoin as a method of payment. Even if this technology is spreading faster than we expect, we can see that payment is accepted with other cryptocurrencies.
I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment
Exactly, there are many people investing Bitcoin and treating it as an investment because many countries still not accepted Bitcoin as a payment option. Until it is accepted it is better to hold and start trading Bitcoin in the market until Bitcoin is accepted as one of the payment options.
I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment
Exactly, there are many people investing Bitcoin and treating it as an investment because many countries still not accepted Bitcoin as a payment option. Until it is accepted it is better to hold and start trading Bitcoin in the market until Bitcoin is accepted as one of the payment options.
Quote
when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.
No thats not a requirement, I can send you Bitcoin right now and you can receive it in your own private wallet just fine and no real cost barrier. All these websites are not bitcoin, they are 3rd party handlers and mostly centralised a weakness to the system. Convenience is the reason why people take this route but its not an actual requirement.
I could send you bitcoin but why would I, we have to have to gain a reason to trade and that is possible for us to do without vast paperwork and hitches along the way. I'd agree there isnt enough of that and too much of the website stuff
At this current day we can see big development in the acceptance of bitcoin especially in the field of businesses simply because some companies, store and mall start to accept it as a mode of payment. Maybe in the coming future all of us bitcoin to pay all our bills.
indeed along with the times and fiat currency technology will change but the provisions remain in the hands of the government that regulates it
It seems to me that the faster large companies start using Bitcoin as a payment method, the better it will be for all of us. In fact, many companies, if they still do not accept Bitcoin as a payment method, then at least go in this direction.
I have not read bitcoin's whitepaper but from the little understanding I have I think bitcoin was developed to be use as a mode of payment for goods and services? It was for a transactionary purposes and not as the way we are using it now as a way of making profits by buy them and hold or sell Them whenever we think it has appreciated in pricing!
I believe for bitcoin to grow it purposes must be well explain to the populace as they are the one that needs it in transactions and that is why the more people that know about it an it primarily uses of p2p the better bitcoin become. We must promote it with the aim of bringing more people especially business people to start adopting bitcoin for they business. Bitcoin should also be stable in pricing because it will be very difficult for retailers and wholesalers business to use it if it is unstable.
Finally I will like to get your opinion on this as this will help the mind of many of us here about this great technologies.
I think the reason why bitcoin can't be the standard mode of payment is it is too volatile. If we want to use it as a payment it has too be stable and that it is the difficult part, we don't have any control on it. I believe for bitcoin to grow it purposes must be well explain to the populace as they are the one that needs it in transactions and that is why the more people that know about it an it primarily uses of p2p the better bitcoin become. We must promote it with the aim of bringing more people especially business people to start adopting bitcoin for they business. Bitcoin should also be stable in pricing because it will be very difficult for retailers and wholesalers business to use it if it is unstable.
Finally I will like to get your opinion on this as this will help the mind of many of us here about this great technologies.
With the price of bitcoin fluctuating, currently in my opinion bitcoin is not the right time to be used as a payment method for transaction tools, because the price of goods being promoted can change or be unstable because it will adjust the price of bitcoin.
and I think many online or offline stores find it difficult to provide a fixed price for now.
and I think many online or offline stores find it difficult to provide a fixed price for now.
I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment
The other day I read on reddit that some dude was capable of sending and receiving money with %1.5 total to his friend in another state of usa (he was also in usa state) but it cost him 3.5% total on commissions to get bitcoin and send him money.
We all love to talk about how cheap the adoption should be and how people are getting ripped off by master and visa cards and so forth but we forget one eternal truth, financial world is greedy and even tiny 0.1% of something that brings in billions of dollars is big.
If you have 5 dollars and want to send it to your friend you can do it without bitcoin quite cheaply right now, it costs a bit but nothing major, same goes for anything like 100 dollars or so. It is a challenge when its worldwide tough, so from one country to another its a deal breaker. Nevertheless, when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.
We all love to talk about how cheap the adoption should be and how people are getting ripped off by master and visa cards and so forth but we forget one eternal truth, financial world is greedy and even tiny 0.1% of something that brings in billions of dollars is big.
If you have 5 dollars and want to send it to your friend you can do it without bitcoin quite cheaply right now, it costs a bit but nothing major, same goes for anything like 100 dollars or so. It is a challenge when its worldwide tough, so from one country to another its a deal breaker. Nevertheless, when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.
nowadays it is very good for some people to have bitcoin to be used as investments or they trade, bitcoi is not yet fully used as a currency for global financial transactions, because of the constraints of regulations in each country. but the development of bitcoin is getting better. although difficult this will be the beginning of bitcoin becoming a global currency that can be accepted by all humanity in the universe
it may still require a process and a long enough time to make crypto currencies will become more developed and it is true that the development of crypto currencies depends on the legality of the government that can make all payment transactions possibleBut the good thing happen with is that, some companies where accepting this as a mode of payment and some countries never restrict using this one. This is one way to make others follow crypto development and it's acceptance.
nowadays it is very good for some people to have bitcoin to be used as investments or they trade, bitcoi is not yet fully used as a currency for global financial transactions, because of the constraints of regulations in each country. but the development of bitcoin is getting better. although difficult this will be the beginning of bitcoin becoming a global currency that can be accepted by all humanity in the universe
it may still require a process and a long enough time to make crypto currencies will become more developed and it is true that the development of crypto currencies depends on the legality of the government that can make all payment transactions possible nowadays there are many bitcoin users who benefit, in addition to providing bitcoin benefits it can also be used for easy payment by its users. Because it's easy to pay with bitcoin is very acceptable to the public.
in general and by using the times and crypto currency technology was created to facilitate its use but all that must be with the legality of the government in my country direct transactions with crypto currencies are prohibited by the government 
I hate that this is happening. Chess.com used to accept bitcoin, after they stopped doing that, they have now started accepting bitcoin cast. I am not sure who convinced them, but that is just bad.
why its bad , is it good for bitcoin adoption.if more merchants start accepting bitcoin as their payment i am sure i will create new demand and effected on bitcoin price.
I hate that this is happening. Chess.com used to accept bitcoin, after they stopped doing that, they have now started accepting bitcoin cast. I am not sure who convinced them, but that is just bad.
why its bad , is it good for bitcoin adoption.if more merchants start accepting bitcoin as their payment i am sure i will create new demand and effected on bitcoin price.
I hate that this is happening. Chess.com used to accept bitcoin, after they stopped doing that, they have now started accepting bitcoin cast. I am not sure who convinced them, but that is just bad.
it is the most awaited thing for everyone, especially bitcoin users around the world. imagine being able to buy food, drinks, and cigarettes using bitcoin in a simple way is the most awaited.
If that will happen now, I guess it will be really bad.
I am not saying that I am not looking forward to it but the idea of paying or buying food, drinks, and cigarette or maybe a chewing gum then paying for the fee of using or transacting Bitcoin, that is really bad. Why would you use Bitcoin just to pay those, you will spend more than paying in fiat with some spare change. If that will happen, they should remove the transaction fees that are really impossible to happen.
Jump to: