Bitcoin main use case now | Bitcointalksearch.org

Kakmakr

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You are so wrong.....

Go to ANY Online Crypto casino now and see what coin does they accept? I bet you it is Bitcoin and some other less popular Alt coins. The main use case for Bitcoin is not trading, because the casino industry is huge.

Do you know of any Alt coin ATM's out there.. that are distributed as much as Bitcoin ATM's are? No, because most retailers accept Bitcoin as a payment option. Wink

deathcode

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Quote from: Vannie12 on December 13, 2021, 06:37:10 PM

Not an indicator, it just happens that it may be a good indicator for some assets for some time. Bitcoin is a currency and hopefully you will engage yourself appreciating that it's widely use as a medium of exchange. It is for long term, you do not have to tune up for its movement every single day and rant here because it is given that it is volatile.

it doesn't matter looking at the assets he owns. such as bitcoin or altcoins held in a wallet or exchange. Seeing growth and price movements is not something wrong. although everyone would probably be more into long-term planning for bitcoin.
but some people do not care about the investment plans made. they buy and trade it for profit. and most of them only see the trend in the market. that's how they manage their assets.
it will look worse when the investment is a beginner. because it can lead to feelings of panic when you see asset prices fluctuate continuously.

AicecreaME

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Quote from: Voxo2222 on December 07, 2021, 01:17:58 PM

Btc main use case now is this:
Bitcoin is good market prices indicator to show just wich way all other coins likely will go.

If there is another reasons to use ....its unlikely.
People say specially traders that btc price is good indicator also to show wich way altcoins might go.
For payments and moving funds the stablecoins are definately best ones.

But yeah..now we know btc main usecase

Bitcoin is a currency and store of value. I don't really believe that the main use of bitcoin nowadays is intended as an indicator of price movement in the market only. It could be an indicator but that is not its main usage. In addition, not all coins actually move alongside the bitcoin's price. Hence, it wouldn't be accurate to claim that. Although it would work for the majority of the coin, but not for all because some coins still go against the flow of the current market just like now wherein some coins continue to pump despite the downhill trend of bitcoin.

One must still equip himself with proper knowledge regarding technical analysis to know which coin is best to invest in right now that we have a bearish market and which one is not worth it to risk.

jaberwock

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Quote from: Vannie12 on December 13, 2021, 06:37:10 PM

Not an indicator, it just happens that it may be a good indicator for some assets for some time. Bitcoin is a currency and hopefully you will engage yourself appreciating that it's widely use as a medium of exchange. It is for long term, you do not have to tune up for its movement every single day and rant here because it is given that it is volatile.

How he thought that Bitcoin was just an indicator, really? Just like you said, it can serve as an indicator for some cryptocurrencies, but it is not even all the crypto currencies in the market that follows the price of Bitcoin just like the people would always say it.

There are thousands of cryptocurrencies in the market these days, a majority of them don’t even move the same direction, they move totally different. Even these days I no longer say that when Bitcoin goes up that altcoins follows it, because I know that wouldn’t be the case, there are many these days, and they wouldn’t be doing the same thing that Bitcoin is doing. And moreover that is what we really want, we need that diversity in the market, and not all the coins doing the same thing all the time.

Vannie12

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Not an indicator, it just happens that it may be a good indicator for some assets for some time. Bitcoin is a currency and hopefully you will engage yourself appreciating that it's widely use as a medium of exchange. It is for long term, you do not have to tune up for its movement every single day and rant here because it is given that it is volatile.

Akash1243

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I don't think so that main use case of bitcoin is being only an indicator of where altcoins prices would go. Bitcoin main use would be used as a payment method but majorly now it is used as investment option.Altcoins are nowhere near bitcoin level of popularity and adoption.When bitcoins falls generally all the altcoins also falls and much harder but when bitcoin starts to get bullish, only some top altcoins would increase with bitcoins many other altcoins just dont recover the fall.

boyptc

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Quote from: Stalker22 on December 12, 2021, 06:08:34 PM

Quote from: boyptc on December 12, 2021, 04:52:57 PM

Quote from: Stalker22 on December 12, 2021, 04:48:23 PM

Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, ...

I still use bitcoin as a payment method. Although, not as often as I used to. I still use it from time to time. Other altcoins have not yet reached the same level as bitcoin.

It's still good as both, an asset to hold and as well as payment. But the main use of bitcoin in particular is a payment. For some in the market that trades daily, it's the pair that they would rely on.

Yes, I agree. Bitcoin is probably going to be the next best thing in terms of monetary standard and will have a big impact on the current monetary system. The biggest impact of bitcoin will be the chance to move away from central banking system.

It is already giving an impact on the mass.

But as for the banking system, at first, a year ago many have already thought that it would be kicking the banking system just like me. As time passes, we do realize that the banks will just simply embrace it or remain to go against it but it won't be gone.

The power is in our hands, whether we like the system or not, we have a place to run and choose in terms of monetary and freedom and that's bitcoin.

CaVO32

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Quote from: Stalker22 on December 12, 2021, 06:08:34 PM

Quote from: boyptc on December 12, 2021, 04:52:57 PM

Quote from: Stalker22 on December 12, 2021, 04:48:23 PM

Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, ...

I still use bitcoin as a payment method. Although, not as often as I used to. I still use it from time to time. Other altcoins have not yet reached the same level as bitcoin.

It's still good as both, an asset to hold and as well as payment. But the main use of bitcoin in particular is a payment. For some in the market that trades daily, it's the pair that they would rely on.

Yes, I agree. Bitcoin is probably going to be the next best thing in terms of monetary standard and will have a big impact on the current monetary system. The biggest impact of bitcoin will be the chance to move away from central banking system.

I don't think we will see this in our lifetime - the conversion of central banking system to crypto system. They will stay where they are and they may just integrate crypto system but the traditional banking system remains. The decentralized nature of crypto is the major aspect why most governments don't like it. They need full control and so why they will stick to the traditional system. Let us be grateful that a lot of governments now are accepting the existence of crypto. But don't expect that they will alter their financial system owed to crypto.
But I do agree that most bitcoin holders today are seeing bitcoin as investment not for day to day use. As much as possible, they want to hold it for the hope that they will get very good profits in the future.

Stalker22

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Quote from: boyptc on December 12, 2021, 04:52:57 PM

Quote from: Stalker22 on December 12, 2021, 04:48:23 PM

Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, ...

I still use bitcoin as a payment method. Although, not as often as I used to. I still use it from time to time. Other altcoins have not yet reached the same level as bitcoin.

It's still good as both, an asset to hold and as well as payment. But the main use of bitcoin in particular is a payment. For some in the market that trades daily, it's the pair that they would rely on.

Yes, I agree. Bitcoin is probably going to be the next best thing in terms of monetary standard and will have a big impact on the current monetary system. The biggest impact of bitcoin will be the chance to move away from central banking system.

boyptc

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Quote from: Voxo2222 on December 07, 2021, 01:17:58 PM

For payments and moving funds the stablecoins are definately best ones.

Bitcoin is one of the best payment to this date. The fee for each transfer isn't costly anymore unlike way back years ago. It's not the same anymore that you're going to get stuck in the network even if you pay that much fee.

Quote from: Stalker22 on December 12, 2021, 04:48:23 PM

Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, ...

I still use bitcoin as a payment method. Although, not as often as I used to. I still use it from time to time. Other altcoins have not yet reached the same level as bitcoin.

It's still good as both, an asset to hold and as well as payment. But the main use of bitcoin in particular is a payment. For some in the market that trades daily, it's the pair that they would rely on.

Stalker22

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Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, ...

I still use bitcoin as a payment method. Although, not as often as I used to. I still use it from time to time. Other altcoins have not yet reached the same level as bitcoin.

realcrypto

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That is your own point of view. Bitcoin still remains the most considerably option when it comes to transferring of funds. The stablecoin has it serious disadvantage. Bitcoin remains the king when it comes to cryptocurrency.

Slow death

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let's be honest, take just 10 minutes and read the bitcoin news channels and what a lot of people think of this market I guarantee you will find this out:

bitcoin is a money-making machine, this is the main use of bitcoin: buy low and sell high, it is a real money-making machine.

Okay you or some people might say I'm being wrong, but I'm being honest and saying what a lot of people don't like to admit, people enter this market to make money

teosanru

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Quote from: Voxo2222 on December 07, 2021, 01:17:58 PM

Btc main use case now is this:
Bitcoin is good market prices indicator to show just wich way all other coins likely will go.

If there is another reasons to use ....its unlikely.
People say specially traders that btc price is good indicator also to show wich way altcoins might go.
For payments and moving funds the stablecoins are definately best ones.

But yeah..now we know btc main usecase

Haha it's pretty nice sarcasm I must say. But you aren't lying for sure, a lot of people who use Cryptocurrencies don't actually use it for payments but even stablecoins aren't used a lot for payments too, they are used instead by traders to just maintain their capital when they are not trading other than that even stablecoins aren't being used much in payments these days but bitcoin is still far better as a payment option than other Cryptos of it's magnitude, it's just that market participants have entered into this market for quick gains.

LittleBitFunny

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Quote from: Voxo2222 on December 07, 2021, 01:17:58 PM

Btc main use case now is this:
Bitcoin is good market prices indicator to show just wich way all other coins likely will go.

So the real issue is you want to invest in altcoin using Bitcoin as an indicator? How silly is that!

What's the benefit of using Bitcoin as an indicator, unless you can make a profit?

Didn't you notice that when Bitcoin is bearish then altcoin is double bearish? On the other hand, when Bitcoin is bullish, altcoin rarely rises?

When Bitcoin was priced at $40K in April, NEO was priced at $130.
After that, when Bitcoin was dumped and dropped to $30K, all altcoin including NEO was dumped and became the lowest price, then the price of Neo was only $30. Bitcoin has crossed ATH several times since then but NEO has not been able to cross the resistance of $60.

So using Bitcoin as an indicator instead of investing in it, and investing in Altcoin is nothing but nonsense

KingTin

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Like many have said, bitcoin real use case is being sound money.

Given enough time, it is more likely that fiat will collapse before bitcoin, because bitcoin has fundamentally sound structure, it can transact securely and globally traded (essentially that means every region of the world see value in it).

We don't know when that would happen, and before that, we will see bitcoin being even more accepted and more stores in the globe will want to accept bitcoin. We will see more applications build around bitcoin (it doesn't have to be on blockchain itself).

So bitcoin really has the biggest ambition in the entire crypto space, not defi, not gamefi.
imo all the defi activities are sort of testing ground for what can be possible, right now? It's just a place where people trade stocks A to stock B, not currency.

ItsEzMkay

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While technically you are correct that Bitcoin moves that market and is the king. You are wrong on your assumption that Bitcoin's only functionality is that. It is also a store of value, medium of exchange, and soon to be unit of account. We will one day I believe, be looking at a t-shirt and it will be 15000 sats because looking at 0.0000150000 is very unpleasant. Another use case would be to transfer funds. Currently, Strike is using the Bitcoin network to settle transfers that go across borders and for less than a fraction of a penny. Its ridiculous, and quite frankly you're notion here was ridiculous. I bid you adieu Good day to you sir. I said good day!

Luzin

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Quote from: josephdd1 on December 12, 2021, 12:59:20 AM

Bitcoin is mainly an investment asset now. It is not very widely used for payment, at least in my country, it is forbidden to pay with crypto here. Also bitcoin is an indicator of crypto market mood like you said. All altcoins follow its global movements but with a bigger amplitude usually. I think that it will be adopted more and more in the future so that we will pay with it almost everywhere.

I hope like you. But I don't know the future. Look at China, the government has completely closed access to all forms of crypto-related activities. I hope it is not followed by many other countries. They fear that the crypto power they can't see will destroy China's finances. Even though I'm sure they can go hand in hand. That's one proof that power can change all forms of hope for the future.

josephdd1

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Bitcoin is mainly an investment asset now. It is not very widely used for payment, at least in my country, it is forbidden to pay with crypto here. Also bitcoin is an indicator of crypto market mood like you said. All altcoins follow its global movements but with a bigger amplitude usually. I think that it will be adopted more and more in the future so that we will pay with it almost everywhere.

eaLiTy

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Quote from: dimonstration on December 07, 2021, 02:10:26 PM

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Most of the stablecoins right now has a legal license to operate so there's no way that they will freeze randomly your stablecoins unless you get your token on a shady way. We are not on crypto pioneering era where lots of scam from project is happening. Big companies including stablecoins like USDC, PAXOS and many more is moving toward the legal way.

I was checking USDC, they are attested by Grant Thornton, LLP but i could not find any audit papers, if their audit papers are public then it would be great and we can say that they are doing everything on a transparent way.

When it comes to scams, yes there are many scams that are still in the market, the most common right now is to impersonate any legit project and create a replica of their website and scam users. There are rug pulls that are still going on, hopefully we will see a change in that aspect in the future.

Quote from: Reatim on December 12, 2021, 12:17:06 AM

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like what said above me it isElectronic exchange Medium and that is the main subject of bitcoin function , but that does not reflect on your belief above.

It is not a simple electronic exchange, it is a honest ledger and the most important aspect is decentralization. Wink

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