Topic: After all these years - page 2. (Read 857 times)
The benefit of bitcoin being an investment compared to being used as a currency is heavily outweighed by the fact that bitcoin is a volatile and that it's so valuable to be constantly traded so I get why it's not a popular as a means of currency. Plus the continuous negative PR all these years about bitcoin as a tool used by criminals to buy stuff probably damaged bitcoin's image to the public and we know that the average public isn't famous for thinking for themselves and they will just echo what information has the loudest voice and the regulations involved in some countries is ridiculous in a way that they believe that you don't want to pay your dues to your government, if we can get through those hurdles that I've mentioned and those that I didn't I think we will see a big growth in bitcoin when it's widely used and trusted as currency and not just any investment.
I think Bitcoin was supposed to be limited to your ownership and it is doing that just perfectly. If you look at it on micro level those who are holding bitcoin for financial gains are way happy and also anonymous.
The concept of making it global payment currency is but overstretched. Bitcoin doesn’t need to be global powder for its operation. Even with single miner and 2-3 peers; Bitcoin can sustain its transactional nature. The basic purpose is to have integrity of your transaction and peer to peer system that’s already being followed.
All these concepts of exchangers, having bank collaboration and everything has came in way later.
The concept of making it global payment currency is but overstretched. Bitcoin doesn’t need to be global powder for its operation. Even with single miner and 2-3 peers; Bitcoin can sustain its transactional nature. The basic purpose is to have integrity of your transaction and peer to peer system that’s already being followed.
All these concepts of exchangers, having bank collaboration and everything has came in way later.
I don't think the adoption that's happening means bitcoin will inevitably become a currency, the two have nothing to do with each other. because as you also said, the government removed gold from the means of payment and instead they used centralized currency. while bitcoin is decentralized, how will governments accept it as a currency? honestly, decentralization is what governments hate the most about bitcoin, so I don't see bitcoin becoming a currency as long as the government is the one controlling the world.
That is true but at the same time I would guess that it is an indicator, not the only one but one of them. Which means that as long as this adoption increases, it could also be considered that people are more inclined to use it as a currency these days. It is obvious that we are not going to end up with a situation that would be easy to handle, but I could say that we are going to end up with a situation that will be a bit different in the end.I think it would slowly be something that would be a bit decent on the long run. So hopefully, if they can do something that benefits them, then we could see it change one way or another in that regard. I believe that it will not be that simple and we should be considering it as a chance.
I understand what you are saying but I think it depends more on the government. because if the government accepts and recognizes bitcoin as legal tender but they only allow us to use it as a commodity or asset, then people using it as currency will not happen. like many countries have stopped banning bitcoin and legalized it but they only consider it as a commodity and people there only use bitcoin as an asset. No one dares to accept or use bitcoin as currency.
I don't know what bitcoin will look like in the future, as long as it retains its decentralized nature, whether it is an asset and a currency, it is still useful to us from many different angles.
I don't think the adoption that's happening means bitcoin will inevitably become a currency, the two have nothing to do with each other. because as you also said, the government removed gold from the means of payment and instead they used centralized currency. while bitcoin is decentralized, how will governments accept it as a currency? honestly, decentralization is what governments hate the most about bitcoin, so I don't see bitcoin becoming a currency as long as the government is the one controlling the world.
That is true but at the same time I would guess that it is an indicator, not the only one but one of them. Which means that as long as this adoption increases, it could also be considered that people are more inclined to use it as a currency these days. It is obvious that we are not going to end up with a situation that would be easy to handle, but I could say that we are going to end up with a situation that will be a bit different in the end.I think it would slowly be something that would be a bit decent on the long run. So hopefully, if they can do something that benefits them, then we could see it change one way or another in that regard. I believe that it will not be that simple and we should be considering it as a chance.
But I feel that Bitcoin in the internet world has been a means of payment globally and for a long time. Even whether we realize it or not, those of us who join the signature campaign have also been paid with bitcoin. And I feel that this is good enough. I don't care about payments in the real world which will continue to use regular fiat. But in the digital world we are used to paying with bitcoin and altcoins. El Salvador and the Central African Republic have made Bitcoin a means of payment in their countries. And I am optimistic that in the future there will be more countries that support Bitcoin as a means of payment in the real world.
Well, that is something to consider but what is trying to see is that it was also been used in our locality. But sadly, people are still thinking that it was ideal for investment purposes, not as a currency. In fact, the reason why many people are buying Bitcoin and holding it is that they are thinking about the possible huge profit earned when it comes bullish. So instead of spending it and buying stuff, or using it to pay bills, they prefer to convert it into fiat money. Might El Salvador have carried it out and the government supported it but seems not going to happen in other countries. After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
Gold was once a payment solutions and was used all over the world in the past but that's no longer the case as isn't a payment solutions anymore and now an assets use to store value over time. Bitcoin is doing the same thing but in a reversed way because Bitcoin is starting as an asset that's used by individuals for investing and storing of value of their money but in the future, bitcoin will be used as currency as it's inevitable due to adoption happening.
The world is governed by centralized government with their centralized money but Bitcoin is a decentralized money which is the greatest disadvantage it has but it's also it's biggest advantage as it shows how superior bitcoin is from the rest fiats currency existing.
I don't think the adoption that's happening means bitcoin will inevitably become a currency, the two have nothing to do with each other. because as you also said, the government removed gold from the means of payment and instead they used centralized currency. while bitcoin is decentralized, how will governments accept it as a currency? honestly, decentralization is what governments hate the most about bitcoin, so I don't see bitcoin becoming a currency as long as the government is the one controlling the world.
After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
Gold was once a payment solutions and was used all over the world in the past but that's no longer the case as isn't a payment solutions anymore and now an assets use to store value over time. Bitcoin is doing the same thing but in a reversed way because Bitcoin is starting as an asset that's used by individuals for investing and storing of value of their money but in the future, bitcoin will be used as currency as it's inevitable due to adoption happening.
The world is governed by centralized government with their centralized money but Bitcoin is a decentralized money which is the greatest disadvantage it has but it's also it's biggest advantage as it shows how superior bitcoin is from the rest fiats currency existing.
BTC will probably never become a globally accepted payment method and that's ok since it has many other advantages over traditional FIAT payment methods. This is why I feel that using it an asset primarily isn't bad at all.
It helped drive its adoption rates upwards drastically around the world which is what truly matters at the end of the day.
It helped drive its adoption rates upwards drastically around the world which is what truly matters at the end of the day.
But I feel that Bitcoin in the internet world has been a means of payment globally and for a long time. Even whether we realize it or not, those of us who join the signature campaign have also been paid with bitcoin. And I feel that this is good enough. I don't care about payments in the real world which will continue to use regular fiat. But in the digital world we are used to paying with bitcoin and altcoins. El Salvador and the Central African Republic have made Bitcoin a means of payment in their countries. And I am optimistic that in the future there will be more countries that support Bitcoin as a means of payment in the real world.
Well bitcoin is a decentralized digital currency, atleast that has been the primary definition I've known of it which simply means is a currency in a digital form.
The usage of bitcoin is solely dependent on the holder and I believe one of the striking factors that has kept bitcoin above every other cryptocurrency is it's decentralization and volatility and one of the the things that makes bitcoin and cryptocurrency in general really interesting, is it's volatile nature which people are already gaining from.
I think if bitcoin is solely made a payment method, it wouldn't gaining this much acceptance.
The usage of bitcoin is solely dependent on the holder and I believe one of the striking factors that has kept bitcoin above every other cryptocurrency is it's decentralization and volatility and one of the the things that makes bitcoin and cryptocurrency in general really interesting, is it's volatile nature which people are already gaining from.
I think if bitcoin is solely made a payment method, it wouldn't gaining this much acceptance.
yes, many people are interested in bitcoin, one of the reasons is because bitcoin can be used as an investment asset and many people take advantage of the fluctuating price of bitcoin, and in my opinion we should enjoy the current state of bitcoin and I think making btc a means of payment depends on the government and their respective countries because of course as a good citizen you will of course obey state regulations, as do I, who always obey state regulations, and I don't want to violate government and state regulations. and the government in my area allows people to invest in BTC, but public are not allowed to make payments using Bitcoin.
I think if BTC was only focused as a means of payment then BTC would not be as famous as it is now, and I think there would definitely be many countries and governments that would ban BTC. but by making btc as an investment asset, bitcoin will be fine as it is now.
Therefore Bitcoin has emerged with a completely new understanding and I think it is not very meaningful to try to interpret it with the rules of the established financial system. What Bitcoin offers us is to ensure that interpersonal payments can be made without intermediaries, commissions and in a reliable manner. Bitcoin is a system designed to be used in daily life but today it has become a trading tool and a kind of investment tool due to price volatility rather than being used in daily trading. For now, i think it will be difficult for its use as a means of payment to become widespread.
It's hard to argue with that, of course. Still, it seems to me that scaling will continue at a slow pace. Yes, do not break the current financial system, because. it showed everyone a certain stability, but there are also radical failures that can be expressed in many parameters.I prefer the standard financial system, but I'm not against the alternative one, which is given to us, for example, by the same Bitcoin. Why do people use it? They do not want government agencies to invade their privacy, especially when it comes to personal money.
Things are changing, now bitcoin ETF looks like something that will work after the Greyscale success over SEC, if ETFs start getting approved you can be rest assured that many payment services will start implementing Bitcoin as payment, and stores will see no reason not to include Bitcoin payment, its been a long term war over centralization and now it seems Bitcoin is becoming friendly and reliable than other centralized crypto projects that you feel it's way ahead of Bitcoin because they are working with central bank.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Aren't these institutions starting to get friendly with Bitcoin? We can see the difference in how they view Bitcoin now. Before they see Bitcoin as a Ponzi scheme and a scam that is only created to scam people of their money. Bitcoin is used to be considered as a criminal way to do illegal activities. But as time goes by, they see that they were wrong and the focus of many countries now is how to implement regulation in order to take advantage of the opportunity the Bitcoin industry has to offer. Other institutions are even considering Bitcoin to be a mode of payment where it can be an alternative option to pay for the goods we buy.
We've been hearing for many years that XRP is partnering with banks and nothing has really come of it. It's meaningless shitcoin marketing. There are much better options that banks can use instead of Ripple like stablecoins,CBDCs, or some other digital currency which they have direct control over.
Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
Well, not everything is as bad as you think. Already today there are a sufficient number of places where Bitcoin is accepted as payment. Basically, these are the developed countries of the European Union, the United States.Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
The integration trend is not so fast and large-scale, but it still exists. There is no need to despair about this. There will come a time when this phenomenon will become ubiquitous.
Bitcoin has not emerged as a new player within the same rules as in the traditional monetary system, which has been officially accepted within the borders of the countries and where certain currencies exist. Bitcoin has created its own definition and ecosystem. In this case, there is no limit in terms of Bitcoin and value transfer can be carried out between any two nodes in the network, regardless of which country they are in.
Therefore Bitcoin has emerged with a completely new understanding and I think it is not very meaningful to try to interpret it with the rules of the established financial system. What Bitcoin offers us is to ensure that interpersonal payments can be made without intermediaries, commissions and in a reliable manner. Bitcoin is a system designed to be used in daily life but today it has become a trading tool and a kind of investment tool due to price volatility rather than being used in daily trading. For now, i think it will be difficult for its use as a means of payment to become widespread.
We've been hearing for many years that XRP is partnering with banks and nothing has really come of it. It's meaningless shitcoin marketing. There are much better options that banks can use instead of Ripple like stablecoins,CBDCs, or some other digital currency which they have direct control over.
Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
Well, not everything is as bad as you think. Already today there are a sufficient number of places where Bitcoin is accepted as payment. Basically, these are the developed countries of the European Union, the United States.Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
The integration trend is not so fast and large-scale, but it still exists. There is no need to despair about this. There will come a time when this phenomenon will become ubiquitous.
Things are changing, now bitcoin ETF looks like something that will work after the Greyscale success over SEC, if ETFs start getting approved you can be rest assured that many payment services will start implementing Bitcoin as payment, and stores will see no reason not to include Bitcoin payment, its been a long term war over centralization and now it seems Bitcoin is becoming friendly and reliable than other centralized crypto projects that you feel it's way ahead of Bitcoin because they are working with central bank.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Aren't these institutions starting to get friendly with Bitcoin? We can see the difference in how they view Bitcoin now. Before they see Bitcoin as a Ponzi scheme and a scam that is only created to scam people of their money. Bitcoin is used to be considered as a criminal way to do illegal activities. But as time goes by, they see that they were wrong and the focus of many countries now is how to implement regulation in order to take advantage of the opportunity the Bitcoin industry has to offer. Other institutions are even considering Bitcoin to be a mode of payment where it can be an alternative option to pay for the goods we buy.
After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?
XRP for example and few others are partnering with banks for international transactions, if seems that these projects are 100 times closer to been a daily payment system than Bitcoin and this saddens me.
I am feeling like the majority of people are still going to prefer to spend more money on transaction fee through payment solutions that involves banks, locally and internationally, I seems like Bitcoin transaction are going to keep happening around Bitcoin OGs and those who are into Bitcoin only.
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
XRP for example and few others are partnering with banks for international transactions, if seems that these projects are 100 times closer to been a daily payment system than Bitcoin and this saddens me.
I am feeling like the majority of people are still going to prefer to spend more money on transaction fee through payment solutions that involves banks, locally and internationally, I seems like Bitcoin transaction are going to keep happening around Bitcoin OGs and those who are into Bitcoin only.
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
It still has to be a long time before Bitcoin becomes a common means of payment and maybe it will never become so, but think about how many people already make transactions in btc especially those who don't have banking access, they aren't that few, right? His time will come, just be patient
How can people who don't have access to a bank use bitcoin? I mean, bitcoin is not free and to own it you need money, a bank account to buy and sell it. Are you using bitcoin without a bank account? Many people have said the same thing but I really disagree on this one. As long as bitcoin cannot become the world currency, not a measure of value like fiat, and if we want to use it, we will never stop depending on fiat. We should not deny this.
It's very simple, often a family in a poor country makes the choice to send a member (choosing that he is in good health) to an industrialized country. For example, many migrants from Africa often arrive in Europe. Once these guys arrive in a stable country, they have to send money to their families and use money transfers, but they have high taxes and are not always present in small towns, so to pick up a family member in Africa, they would have to move to the largest nearby city and risk also of being robbed once you get out of the money transfer. Instead Bitcoin solves this and does it by reducing sending costs, time and security and of course you don't need a bank account.
Yes, cross-border remittance is a prominent feature of bitcoin, it is a great way for our loved ones to receive money without spending too much transaction fees and time. But in African countries, have they legalized bitcoin as legal tender? And they allow people to use bitcoin as an alternative payment method to fiat like El Salvador did? You will send bitcoins instead of fiat through a 3rd party service, but how will your loved ones use bitcoins, and how will they convert bitcoins if they don't have a bank account? Let's be realistic, to be able to use bitcoin, we still need banks, we still need fiat, man.
Maybe they haven't legalized Bitcoin as legal tender like El Salvador but it shouldn't be the only possibility to be able to use it, let's admit that in the town or neighborhood where you live the shopkeepers are starting to accept it all so why do I need Fiat? or a single individual with a foreign bank account and an account on an exchange would be enough to receive bitcoins and exchange Fiat directly by hand. In Lebanon a guy had opened a physical exchange that worked exactly like this, I saw it in a service from an Italian TV station.
Things are changing, now bitcoin ETF looks like something that will work after the Greyscale success over SEC, if ETFs start getting approved you can be rest assured that many payment services will start implementing Bitcoin as payment, and stores will see no reason not to include Bitcoin payment, its been a long term war over centralization and now it seems Bitcoin is becoming friendly and reliable than other centralized crypto projects that you feel it's way ahead of Bitcoin because they are working with central bank.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Bitcoin is decentralized, but it's far more reliable than other crypto projects, sooner or later the centralized authorities will understand this and they will have no other choice than to be friendly with satoshis invention.
Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?
It is our main hope that Bitcoin can be accepted as a means of payment everywhere. but this will not be easy to do. Maybe one day everything will change and Bitcoin will be accepted, but I don't know when. Because after all, it is still struggling right now, Bitcoin is still struggling to be accepted in all places and everyone in the world, even if only as an investment tool or trading activity. However, Bitcoin still has a long way to go and still stretches wide. It's a matter of time. Maybe it won't be easy, but it's not impossible. Maybe not 100%, but at least a large part of it.Right now, the volatility factor is the main reason why people are going into this market.
So it is more on like investment opportunity, because the high volatility will give them a chance of profits.
But once this market stabilizes its price, I believe, that's when we will start seeing a lot of merchants accepting this as one of the payment methods.
Because right now, that's the concern of most merchants, the volatility aspect of this currency.
Right, volatility is why you, me and everyone here is in this market, profits are what we are all looking for.
Of course, once the market becomes stable more merchants and businesses will accept it as a payment method. But my question is if it becomes stable will people continue to use it? I don't believe it will still be able to attract as much attention as it does now. Not everyone will leave bitcoin, but there won't be too many market participants if bitcoin becomes stable.
We've been hearing for many years that XRP is partnering with banks and nothing has really come of it. It's meaningless shitcoin marketing. There are much better options that banks can use instead of Ripple like stablecoins,CBDCs, or some other digital currency which they have direct control over.
Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.
What do you expect? Bitcoin is a highly volatile asset so it’s hard to anticipate that it will be legally adopted as a payment system. It has never fixed value unlike fiat. That’s why I’m good at it being a tool for investment. Although I’m not against on it being a payment mode in the future but i still can’t see the high possibility of accepting it in the market. Bitcoin is more suitable as an investment for now since it offers a lot of potential profits especially if you are good on dealing on its volatility case.
No investor is against bitcoin becoming an official means of payment or currency, but we need to look at the facts a bit. No government will accept a decentralized and highly volatile asset as currency. As bitcoin investors ourselves, we are not comfortable using bitcoin as a payment method because of its volatility. I'm okay with buying bitcoin at $50k and holding it until it makes a profit, but I wouldn't be stupid enough to buy bitcoin at $50k and spend it when it's only worth it 20 thousand dollars or 30 thousand dollars. Not only me but everyone will not have the courage to do that.
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