After all these years - page 4. | Bitcointalksearch.org

mendace

hero member

Activity: 504

Merit: 625

Pizza Maker 2023 | Bitcoinbeer.events

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

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

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: komisariatku on August 28, 2023, 10:39:13 AM

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

One of the things that hinders the use of bitcoin as a means of payment is probably its decentralization. I don't think countries want to take the risk of using a currency they can't regulate, besides that the fluctuation in the price of bitcoin is also very high making it difficult to convert the value of an item into bitcoin.

But, I believe that bitcoin will definitely become a currency and can be used for payments, it is only a matter of time until the bitcoin community develops and bitcoin will be effective for cross-border transactions.

Maybe we just have to wait until bitcoin will become the world's payment currency, maybe we need to wait another 10 or 20 years. I hope it will happen sooner

It would definitely require a bit of improvement to the current situation to become a currency, right now it's slow and expensive to use in many places and we are not going to see any changes like that anytime soon. We need to make sure that it is not going to be a good thing and we need to end up with like some improvements on the pace of it, it needs to be instantly, like 3 seconds is all we are willing to wait, or maybe like 10-15 if it is too great.

But also we need to make sure it is not costing us a lot, we should be doing something much better like for example 1% of all transactions capped at $1 at most, because otherwise it is way too expensive to keep using it right now and can't be used for small amount transactions.

Peanutswar

legendary

Activity: 1708

Merit: 1280

Top Crypto Casino

I guess people most frequently use is the XRP because it is reliable and at the same time it has a low transaction fee We know how does Bitcoin works when it's congested and fees come over with the 0.15$ to 20$ real quick because of the demand but with the xrp still less than a dollar, so possible reason they adopt this than the bitcoin, but the third party or the organization itself does not limit the use of mode of payment or transaction with XRP still they are supporting the use of the bitcoin, their target is convenient so they only give people an option with it.

fuguebtc

hero member

Activity: 1960

Merit: 537

Leading Crypto Sports Betting & Casino Platform

Quote from: serjent05 on August 28, 2023, 05:31:46 AM

Quote from: fuguebtc on August 28, 2023, 03:32:29 AM

Like it or not and many people do not accept this fact but I do not believe that bitcoin can become a legitimate payment method in the world due to its decentralized nature. Personally, I see bitcoin as an asset and will likely be a store of wealth in the future if it becomes more and more popular.

Isn't there already companies that accept Bitcoin as legitimate payment? I can buy items with Bitcoin on the internet. I can pay my bills through Bitcoin. If you can't consider that legitimate payment method then explain to me why it is not?

I am referring to bitcoin's potential as a global currency just like widely accepted currencies like USD, if we are discussing the mere acceptance of Bitcoin by a handful of businesses in countries, it is hardly noteworthy enough to be mentioned. I don't know what country you are from and for my country I haven't even seen a store that accepts bitcoin for payment.

Quote from: serjent05 on August 28, 2023, 05:31:46 AM

Quote from: fuguebtc on August 28, 2023, 03:32:29 AM

While bitcoin has not been able to become a P2P payment method for the purposes Satoshi created it, I don't see anything too bad about bitcoin as an asset. It still brings many use cases, many utilities for us.

Eh??? Maybe many of us here don't use Bitcoin as a payment system, but as a bitcoin holder, I have been paying my items through Bitcoin for years, others of my transaction may go through a third-party processor but still, it shows that we can use Bitcoin as a payment method.

Have you ever wondered about how many people have used bitcoin for payments, just like you? Or perhaps you are among the few who use bitcoin as a means of payment? My country doesn't ban bitcoin but 100% of people I know are using bitcoin as an investment. I don't even see anyone mention it as a payment method let alone anyone using it.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

I don't think that Bitcoin will ever be used as a day-to-day payment solution because it's more valuable than ever, for something that adds more value than before people will want to keep and hold for the long term so that they can make money from it, using such valuable asset as payment will feel like a waste to many people.

I don't have any problem if Bitcoin never becomes a payment solution, What many want is more money and that's why they are in Bitcoin, as far as Bitcoin keeps adding more value then investors are very much satisfied.

For those expecting Bitcoin to be friends with banks and centralized companies around the world let's not forget that Bitcoin will remain decentralized, I don't think it will be easy to see this happen, it's under probability.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: Wimex on August 28, 2023, 06:01:40 PM

Clearly in recent times Bitcoin has been more popular as an investment and store of value than as a daily payment system... That is why the usefulness of bBitcoin in the approach that you want to give it as a medium of exchange continues to be a matter of debate and evolution in the community... we cannot take away from Bitcoin that its decentralization is one of its fundamental principles, and although this can make it difficult to quickly implement certain features or improvements, it is also one of the features that attract many users. Many believe that Bitcoin has found its niche as a form of digital asset and store of value similar to gold... But this was not the idea of Bitcoin in its early days, so this perspective considers that mass adoption as a payment system may not be the main avenue for Bitcoin and that its uniqueness lies in its ability to act as a decentralized store of value

sure, anything can happen, but the fact that Bitcoin is the only global means of payment that many dream of, I would say that I am sure it will never happen..

I've always believed that the decentralisation of Bitcoin reflected democracy. The restoration of the people to power. However, democracy is not perfect, correct? It shifts form.

Gold is a valuable reserve of value, similar to bitcoin. However, did we not transition from gold to fiat currency? It develops. The thrilling transformation of Bitcoin from a medium of exchange to digital gold is not the objective.

Due to Bitcoin's decentralisation and value storage, traditional monetary systems may be able to achieve a state of equilibrium. And as a barrier. As for being the worldwide payment system? That is a tall undertaking, dude. It would be like expecting everyone to enjoy every barbecue dish. Not possible.

jcojci

full member

Activity: 784

Merit: 115

Everything changes according to developments that occur. Maybe at first, bitcoin was designed to be used as an alternative payment that did not involve local and international banks. But when crypto is growing and many parties enter crypto, they see bitcoin as a valuable asset so they don't use it as a payment.

They are looking more at other coins such as XRP so they research further to find other potential. It doesn't matter if XRP will be used as a payment for international transactions rather than bitcoin. Anyway, for now, people are still using bitcoins for various purposes too.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: Tony116 on August 28, 2023, 07:40:58 AM

Each coin is created with a different purpose and a partnership between XRP or Chainlink with banks is not an achievement to be praised or boasted about. Because they completely go against the decentralization concepts that bitcoin has created for us and it is lame to compare bitcoin to those shitcoins.

The path for bitcoin to become a payment method is increasingly remote, but if only to achieve that goal must cooperate with banks or become centralized, I am completely against it. Personally, I never expected bitcoin to lose its decentralization.

I am also seeing the possibility that once bitcoin will be globally accepted as a mode of payment, which means having partnership with banks and other centralized financial institutions, then we will no longer see bitcoin as completely decentralized crypto but maybe less decentralized by then. When that happens, I’m sure a lot of us will feel bad for it and expect that privacy and anonymity will be put at risk.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

this will come once the world finally accepted and let this to happen , but as for now? we must be contented on what we have for bitcoin.

Quote

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.

well, but see what XRP has to be? trying to steal the momentum from bitcoin lol.

Quote

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.

am not sure if i am going to support this because you have no complete basis of this about.

Quote

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 still your choice mate, but for me? this is one or the best payment tools, may not now but in the coming years.

Smack That Ace

legendary

Activity: 1974

Merit: 1108

Free Free Palestine

Quote from: flyingcarpet on August 28, 2023, 09:25:06 AM

Quote from: Smack That Ace on August 28, 2023, 08:52:38 AM

Quote from: bakasabo on August 28, 2023, 08:05:04 AM

I fully understand what OP is worries about and share his idea. It might turn that people will see in cryptocurrency not only technology, possibility or chance, but only financial side (buy low sell high - in short). That we will never use crypto as it was intentionally created for, but rather only resell in to get profit. That imo is what pauses mass adoption. No one wants to use crypto worldwide. All we care is price to grow, get some profit and immediatelly turn that into fiat.

But we also can't blame people when they focus only on profits and ignore the factors that make bitcoin more popular. Even you and I both consider bitcoin an investment rather than a currency, how can we expect someone to sacrifice their interests to support the community for nothing?
While bitcoin cannot become a currency, I don't see anything wrong with it as an investment. It remains a decentralized asset that still benefits everyone.

Some things take a long time to happen. We are talking about possibilities, there is a possibility that what is said will come true. Generally speaking, Bitcoin is currently traded for profit. Few people care about the technology behind it. However, despite this being the case, even the decentralization that Bitcoin brings to us and the freedom to transfer without being dependent on the bank is a big improvement.

We all understand what the OP is worried about and wants to happen. Today, we can see that even those who want to see Bitcoin as an investment tool and make a profit benefit from the innovations brought by Bitcoin. I can't criticize anyone for their perspective on Bitcoin.

As I also said bitcoin becoming a currency or an asset is not a big deal as long as it is beneficial and useful to us it will never be considered a failure. It can only be considered a failure when it doesn't offer any benefit or use case. Moreover, when bitcoin becomes an asset, it is more beneficial to us, both profitable and can become a store of value...In general as long as it retains its decentralized nature it brings a lot of benefits even though it cannot become a currency.

Wimex

full member

Activity: 618

Merit: 145

Clearly in recent times Bitcoin has been more popular as an investment and store of value than as a daily payment system... That is why the usefulness of bBitcoin in the approach that you want to give it as a medium of exchange continues to be a matter of debate and evolution in the community... we cannot take away from Bitcoin that its decentralization is one of its fundamental principles, and although this can make it difficult to quickly implement certain features or improvements, it is also one of the features that attract many users. Many believe that Bitcoin has found its niche as a form of digital asset and store of value similar to gold... But this was not the idea of Bitcoin in its early days, so this perspective considers that mass adoption as a payment system may not be the main avenue for Bitcoin and that its uniqueness lies in its ability to act as a decentralized store of value

sure, anything can happen, but the fact that Bitcoin is the only global means of payment that many dream of, I would say that I am sure it will never happen..

lionheart78

legendary

Activity: 2954

Merit: 1153

Quote from: Kelvinid on August 28, 2023, 04:59:42 PM

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

Until it was not fully recognized as a legal currency all over the world, digital currencies like Bitcoin would remain as an investment rather than a currency. Yes, people don't see it as a useful currency because they can't even use it to buy stuff in their place so instead of using it, why not consider this as an investment which in fact it gives them a huge profit compared to another form of investment? This is one reason why people have the choice of Bitcoin rather than spending their money on other businesses.

But Bitcoin being a payment system is always present in the system. People can do both to Bitcoin, use it to pay merchants and use it as a speculative investment. I do not think that the capability of Bitcoin to be used in payment systems has ever diminished as people look at it as an investment. If you observe fiat currencies, the dollar, and other currencies are also considered investments for many people by taking advantage of the exchange value fluctuation, and yet their capability as a payment mode does not degenerate.

So I think this kind of scenario (Bitcoin being an investment) is a natural occurrence and we should not worry about the use of Bitcoin a payment system because it is always present anytime people decided to use Bitcoin to pay for their goods.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

Until it was not fully recognized as a legal currency all over the world, digital currencies like Bitcoin would remain as an investment rather than a currency. Yes, people don't see it as a useful currency because they can't even use it to buy stuff in their place so instead of using it, why not consider this as an investment which in fact it gives them a huge profit compared to another form of investment? This is one reason why people have the choice of Bitcoin rather than spending their money on other businesses.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

It's not something that can't happen, it's possible. However, this will not be easy to do. Using Bitcoin as legal tender for all countries is of course directly related to regulations in that country. However, a country must have strict regulations for this. Maybe this is not as easy as it is accepted in big countries, where Bitcoin might easily become a transaction tool. But in some countries, the government says that this is difficult because Bitcoin is decentralized so the government cannot control it, so they will also find it difficult to manage and control how Bitcoin will be used as a transaction tool.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Bitcoin has become a very valuable scarce asset. It's normal people prefer to use it for long term investments instead of using the cryptocurrency for daily payments. There is a wide mentality of saving BTC maximum as possible, otherwise you might not have access to it futurely once the price skyrockets for real.

I believe once the price stabilizes in a higher price range than we curreny have, we are going to see Bitcoin being used as currency more frequently. But it must take a long time yet. I predict something around 10-20 years.

serveria.com

legendary

Activity: 2422

Merit: 1191

Privacy Servers. Since 2009.

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

Please don't compare Bitcoin to shitcoins like XRP or Ripple or whatever centralized shite. Bitcoin is not a "daily payment system" and will never be (LN can be used as one though). It doesn't sadden me at all for some reason. What's more important is Bitcoin adoption and how many people know what is Bitcoin and how it works. And I guess even any homeless person knows what is Bitcoin in 2023.

Oasisman

hero member

Activity: 2716

Merit: 552

Quote from: Outhue on August 28, 2023, 02:47:01 AM

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?

Yes, if we can find a solution how to solve the scalability problem for bitcoin instead of creating another altcoin. We are actually close to filling this gap now with the help of LN (lightning network). However, it has not been widely used for now, but we'll get there for sure.
Another thing, even if we can solve all this problem, let's say we are able to manage to lower the fee and speed up the transactions, do you think people would still be willing to spend their bitcoin knowing how highly volatile asset it is?
Bitcoin are actually too valuable to spend for someone who's trying to save as much fractions of bitcoin as he can.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

I guess as long as there is volatility with bitcoin, I don’t think it will ever become a legally payment system all over the world. Although its designed to become a currency, but it’s not bad after all having bitcoin as a precious asset or investment, isn’t it? The fact that bitcoin still provides great opportunities for us to be financially free not just today but eventually in the future, well I guess it’s utility case is more than superb than seeing it as a currency. Bitcoin continues to change lives, especially for those who knows how to maximize their risk with bitcoin.

coolcoinz

legendary

Activity: 2814

Merit: 1192

XRP? Really? Are you really trying to compare apples to oranges here and claiming oranges and claiming apples are better because they have more uses?

XRP is a centralized and premined shitcoin. It's been partnering with companies since 2013. Do you remember times when Garlinghouse wasn't even the CEO? They had partnerships already and everything was going so slow for them that even dumping their own premine on investors wasn't helping them.

Mr.suevie

sr. member

Activity: 546

Merit: 342

Quote from: elevates on August 28, 2023, 03:21:57 AM

Do you really think Bitcoin can work as a payment system. There are too many limitations with Bitcoin and that is why Bitcoin LN was created. I am happy the way it is now, I happy that people think Bitcoin as a investment opportunity. Since it is now considered as an Investment that is the reason Institutional investors & big financial institution are going after it. Bitcoin is the only investment through which anyone can gain financial freedom.

Indeed the lightning network is a ground breaking discovered and I feel bitcoin been used as a global currency can be achieved as we have bitcoin ATM machine already and so many other initiatives that can help this full adoption and I feel it's time that has the final say because the whole adoption can't happen suddenly, it's a financial evolution and slowly it's going to gain ground.

Topic: After all these years - page 4. (Read 857 times)