Topic: Bitcoin as money - page 17. (Read 1140 times)
In order to be able to use bitcoin as a currency, you need to go through the evolution of bitcoin. We have to solve the problem of transactions. We have to change the attitude towards bitcoin. Even if tomorrow transactions are instant and free we will not see the development of trade for bitcoin. This is because coin owners prefer to shop for Fiat and hold coins until they rise in price.
Bitcoin is already serving as money in some places, serve in place for money, it will be just too good for bitcoin to be a means of transactions,exchange,in the world like dollar,euro,etc are.
Yes in some places people are using bitcoin as money for different purposes but in very limited area, while in rest of the places people are using bitcoin for investment and trading and are getting good profit from it only by holding a good amount of bitcoin. I think that people will continue using bitcoin for trading and investment purposes for a long time. full member
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My belief is yes it will one day become currency but you won't see a t-shirt costing 0.00xxxx Bitcoin rather it will cost 1 Millibit or a unit which we can understand better. Decimals and super small numbers are not are friend, also they cause more errors and the Millibit system would nullify this.
Bitcoin can be used as a currency, that was the main objective when it was developed. The big difference would be that it's decentralized. In fact, Bitcoin is already used as a currency and is accepted by some big companies. When Lightning network is implemented, it will be faster and cheaper to use as a currency.
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?
it really happen now and actually here in our country btc and fiat exchanger have same wallet so we can use it to buy thingsThe negative only in digital currency is the volatile price so better to sell your coins while the price is high
Another thing bitcoin is digital currency so it's already money
To use bitcoin as money to buy something is really hard and needs a lot of regulations. For example " do you agree to get your salary as bitcoin?" i don't.
Because, 1 btc is about 11K usd but tomorrow it migth be 5K so you can loose half of your salary in 1 day. Now it is really risky but in 10 years maybe.
Because, 1 btc is about 11K usd but tomorrow it migth be 5K so you can loose half of your salary in 1 day. Now it is really risky but in 10 years maybe.
That's what the original vision of Satoshi, to used bitcoin as digital currency without third party involved. However, in the last couple of years, bitcoin has become a investment platform like store of wealth for big investors.
Of course I would like it to be like cash that we can used for our everyday lives, sadly though its not yet realized but I'm still positive that we can achieved that in the future.
So let see how it goes specially with Lightning Network already in the horizon. You can open channels from A to B and transaction will be quick and seamless.
It has not materialized yet the vision of satoshi but we are slowly getting there it is going to still take sometime even after the implementation of the LN, after all we are so used to hold our bitcoin that the benefits of using our bitcoin will have to be bigger than the benefits of holding and with the price so high and the potential for the price to go even higher I do not think that is going to happen soon so we will need first a huge adoption by the population so the price increases and the holders finally decide to use their bitcoin. Of course I would like it to be like cash that we can used for our everyday lives, sadly though its not yet realized but I'm still positive that we can achieved that in the future.
So let see how it goes specially with Lightning Network already in the horizon. You can open channels from A to B and transaction will be quick and seamless.
Bitcoin is already serving as money in some places, serve in place for money, it will be just too good for bitcoin to be a means of transactions,exchange,in the world like dollar,euro,etc are.
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?
Future of money is crypto all together. That is a good thing in decentralization as long as there are people around the world that mine there will be crypto, there will be centralized alts too and they will have some purpose, you will not be able to access if you don't have special coin, look at that like this. Of course bitcoin will keep first position because it will have more supporters then any other alt. Crypto is good because you can exchange bitcoins for any other alt, or reverse, and like that all systems will work together, it will be easier for all the people in the world.
Its positive, of course it is, there are many positive things that crypto can bring into world economy. You will be able to buy anything with any alts. There will be services that exchange it instead of you, like you have now, no hustle.
Of course, this will positively affect the development of society, banks will remain out of business. But before this bitcoin has not grown enough, there are many problems
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.
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.
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 slowBitcoin is fast and cheap right now compared to more traditional payment methods. LN will just help with future-proofing and further improvement.
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?
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
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?
That's what the original vision of Satoshi, to used bitcoin as digital currency without third party involved. However, in the last couple of years, bitcoin has become a investment platform like store of wealth for big investors.
Of course I would like it to be like cash that we can used for our everyday lives, sadly though its not yet realized but I'm still positive that we can achieved that in the future.
So let see how it goes specially with Lightning Network already in the horizon. You can open channels from A to B and transaction will be quick and seamless.
For bitcoin and the whole crypto-currency and the future. Invest and earn Crypto currency now. In 5 years you will be happy, having a different credit currency
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 slow
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?
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