Topic: Bitcoin as money - page 16. (Read 1140 times)
Nobody wants to spend their btc as most think that it will go up in price and they would end up spending way to much for the product
The governance system doing economic effort in each country has already provide their exchange. So it will be difficult for bitcoin to stay as money with theses systems.
Bitcoin is a technical currency that is tradable worldwide. I understand this requires individuals trading in it to possess a certain understanding of Technology as all trades are done online
They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?
Bitcoins are already used to to buy goods and services in countries like japan and some parts of Canada. States in the USA are accepting tax in form of BTC. so its already happening. only good things such as safety can come from the use of bitcoins as a medium of exchage
Bitcoin is most popular digital currency. People also take interest in it. they use bitcoin. people are now aware with it. people are investing in it. in short term bitcoin will become common currency globally.
Well now bitcoins isn't suitable for daily micro transtions like for buying groceries and etc mainly becauee of the transactions fees and confirmation time it takes for the transactions to be complete in this situation fiat is highly efficient than bitcoins or any other crypto currency.And using fiat for daily would be convenient than using bitcoins.
Here we also make money with bitcoin so it's money called bitcoin, and Bitcoin can work without centralized bank or administration
that's a good thing, one of the benefits is that you do not have to bring cash to shop for clothes or just to eat at a restaurant. Well, do you know already many companies that accept bitcoin as an alternative payment? many people want this, they will get clappers in this way, imagine if prices continue to skyrocket. you can buy an apartment. cars and more.
They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?
I think most likely it will. Maybe not bitcoin, but the crypto currency will replace paper money. And it will be good if we have an opportunity to make good money. Because if there is no money, then it is not important whether it is a dollar or bitcoin.
the positive impact is we can buy something easily but it's quite difficult because many people don't use bitcoin, especially in traditional markets, they
they still using paper money for sell or buy
they still using paper money for sell or buy
I think that within reason almost all merchants are still going to want to receive funds in their own currency as you mentioned. It's too risky and complicated for them otherwise.
I mentioned cards because of this reason, it's an easy way to pay in bitcoin but the merchant receive their own currency.
I have not come across these hot wallets within phones, how would you use them to pay for something in a store? Say you wanted to buy a coffee? Are these the new ones that you scan a virtual card on your phone screen?
I mentioned cards because of this reason, it's an easy way to pay in bitcoin but the merchant receive their own currency.
I have not come across these hot wallets within phones, how would you use them to pay for something in a store? Say you wanted to buy a coffee? Are these the new ones that you scan a virtual card on your phone screen?
Was referring to ordinary android/iphone apps. Merchants can have watch only wallet and they can import xPub from BIP39/44 and recieve funds that way and you simply scan qr code from their monitor and send cryptocurrency. You have Blockchain Merchant that is awatch only wallet and does what I mentioned above for bitcoin payments.
It is possible even to pay by phone for national currencies and this is being used in some countries and with some merchants. So we can see that in future even cards might get replaced with mobile phones. As all of us carry mobile phone I don't see the reason for card to exist for cryptocurrency. Of course there is a risk if you lose your mobile phone or if it gets compromised so for this you want to make sure that your wallet is encrypted on the device and not to store large quantities. Anyways cards can be stolen and compromised as well.
That's why Bitcoin exists. To use it on a everyday basis. It's just that things didn't go the way that Satoshi expected it to go. People think of bitcoin as a asset, an investment rather than its main purpose to be a currency. Had Satoshi not left bitcoin and its users back in those days, maybe things might have turned according to his expectations. Thinking of bitcoin as money is long past now, it's an investment now. So just hodl.
Even if satoshi stayed we have to create a value of it to be able to transact. So I do believe that this "investment" and asset phase is healthy. Because we have to create a suitable and somewhat stable price to use it as a currency, more years have to pass for that but there is not much we can do.
That's why Bitcoin exists. To use it on a everyday basis. It's just that things didn't go the way that Satoshi expected it to go. People think of bitcoin as a asset, an investment rather than its main purpose to be a currency. Had Satoshi not left bitcoin and its users back in those days, maybe things might have turned according to his expectations. Thinking of bitcoin as money is long past now, it's an investment now. So just hodl.
Not in the near future. There are problems like slow transaction and high fees plus the volatility of bitcoin price that needs to be resolved first for us to be able to use it to purchase commodities.
It can happen in the future. Using bitcoin as payment, btc use as paper money in paying your needs. But i bet that if that happens, bitcoin will be now subject to tax. Possible to have a physical bank for btc.
I think its negative, because as of now. Bitcoin can work without centralized bank or administration. So easy to say that bitcoin is not holding up by government. It hard to use in buying anything as physical money.
While I see a scenario where bitcoin can be used for such small payments I think that it's unlikely in the near future. I think that first it will become accepted as a payment method for larger online transactions and later once it's better implemented it will be used in conjuction with electronic cards to pay for almost everything
You can use bitcoin now to buy goods and services, although not on larger scale and many merchants use 3rd party such as BitPay to evade unstable price of bitcoin and get fiat. So now it is strongly tied to fiat currency. In future hopefully people will like to have bitcoin rather than to get bitcoin and transfer it right away.
Why would you need electric cards? Because with this you will have to have 3rd party holding your coins or private key somehow embedded within card. To my mind it is far better and easier to use existing hot wallets within mobile phones.
I think that within reason almost all merchants are still going to want to receive funds in their own currency as you mentioned. It's too risky and complicated for them otherwise.
I mentioned cards because of this reason, it's an easy way to pay in bitcoin but the merchant receive their own currency.
I have not come across these hot wallets within phones, how would you use them to pay for something in a store? Say you wanted to buy a coffee? Are these the new ones that you scan a virtual card on your phone screen?
In my opinion, BTC will take a significant part of the online market, now the question arises as to how much time it will happen ... BTC now acts as an illegal way of exchanging all over the world. It's hard to say here, because banks will do everything possible to stop it, so now it's imperative to follow this and keep up this innovation with all our strength.
The possibilities are not very clear with the transaction fee. The fees are high for small business transactions . Further on the negativity, it is an internet enabled money where you can't access it without computer on browsable phones.
I do not think that internet can become a problem because in current moder time internet is present everywhere. but i think that transaction is really creating problems and that is the reason that most of the people are avoiding small transaction, for example i was recharging my cell using bitcoin, but after transaction fees has become so much increased that now i am not using bitcoin for loading my cell because in high transaction fee which some time become greater than the amount for which i am going to load my cell. 
They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?
Without lightning network bitcoin is digital gold. When devs implements ln then may be. But now bitcoin is too slowYou must be living in the past, then, because as stated at this website, it will take you somewhere between 30 minutes for your coins to arrive if you have paid a minimum of 21 satoshi/byte. Compared to 2017, that is an impressive amount of time needed to get your transaction confirmed, plus it's cheaper too. Bank wire transfers take at least 3 business days in order to get processed, and if you ask me, that isn't economical nor feasible if I need the money urgently. Bitcoin being used as a currency right now is already okay, but saying that bitcoin is only a store of value without the lightning network is completely off, knowing that the cryptocurrency has existed for 9 years without the said feature and transactions are still being confirmed as expected.
They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?
Bitcoin is already used as a currency, to buy and sell goods and services online, but it is not yet really used offline because it is not yet so popular, and because the governments and banks still fighting BTC and other crypto currencies. But I believe that Bitcoin is in fact money and it is even better than fiat currencies in many ways.
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