Bitcoin main use case now - page 2. | Bitcointalksearch.org

Reatim

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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

sorry but i don't understand what you are pointing here? what is the main idea of how you portraying bitcoin when that is far from the reality of its function ?

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.

ChiBitCTy

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It’s main use case is to give an indicator where alt coins are going to be heading? That’s really just silly. Bitcoin has two main use cases at present, a medium of electronic exchange that’s fast, borderless and decentralized as well as being a hedge asset. People have certainly long debated these things but there is absolutely no question in my mind.

michellee

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I guess bitcoin main use case for every people will be different depending on what those people reason using bitcoin so far. Some people who came to bitcoin think that bitcoin is a tool to help them make money while others think that bitcoin is a tool to change the finances form and use bitcoin for daily life. While there are people who use bitcoin as their investment and only sell bitcoin when they can make a big profit. However, I think bitcoin main use case can change in the future, depending on how people use it and that will not the same for every people.

VanityWallets2015

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Quote from: btc78 on December 11, 2021, 08:17:30 PM

That is what you think and not for general meaning i respect your views but this wasn't really a thing.
you did not even mentioned about the Medium of exchanging that totally bitcoin is what all about and you did not even bother to say how useful bitcoin in any areas?

I agree. The main use of Bitcoin can be different for each individual, as mentioned, its essence is subjective depending on the user. For some it can be a medium of exchange that is free from third part interceptions, a medium of price indication, investment or income source. Nevertheless, it cannot be denied that Bitcoin has touched and is beneficial in diverse areas, all of which are being enjoyed by all of us.

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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

That is what you think and not for general meaning i respect your views but this wasn't really a thing.

you did not even mentioned about the Medium of exchanging that totally bitcoin is what all about and you did not even bother to say how useful bitcoin in any areas?

you are a bitter crypto user that hates bitcoin and a altcoin supporter .

Rabi3

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Quote from: BitCoinDream on December 07, 2021, 01:30:26 PM

No. Bitcoin's main use case is it is an unrestricted medium of exchange.

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

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

Did you know that the StableCoins, that you use, can mostly be frozen right on your address?

stable coins are centralized, it is almost as unsafe
as holding them in your wallet as it is to hold crypto in a centralized exchange, if op knows that they can freeze when ever they want I am pretty sure he is not talking about big amounts of crypto that can make you depressed if you lose them, in cases where someone is using stable coins to make small purchases there isn't much to worry about.

WatchMaker

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Quote from: BitCoinDream on December 07, 2021, 01:30:26 PM

No. Bitcoin's main use case is it is an unrestricted medium of exchange.

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

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

Did you know that the StableCoins, that you use, can mostly be frozen right on your address?

Bitcoin was invented as a digital store of value and also, a digital payment system.
Bitcoin is a digital currency that is fast, secure, and decentralized yet acceptable worldwide.
Bitcoin is a now considered by many investors as a preferred stored value instead of gold because of it's intrinsic value.

deadmousehat

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Yes most people around me also use bitcoin as an indicator when buying altcoins. But not all altcoins follow the ups and downs of the bitcoin price. Today more people are using bitcoin for investment than for payments due to high fees and switching to stable coins.

dothebeats

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Bitcoin's main use case for me is its unrestricted, cross-border transaction capability without the need to register or submit your details to a third-party entity. It's easy to send and receive money overseas without being questioned. Plus, fees aren't based on how much you send; you can literally place a dollar or even a cent's worth of fees and, if your transaction is done when there isn't much in the mempool, it will go through without any hassle.

What you're saying is quite far from the ethos or the main use case of bitcoin. Most people see bitcoin as a means to make profit. It is only one part. Its function and capabilities still exist and that's what some people are still using it for even today.

fiulpro

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Not exactly.
There are Altcoins which are going up with Bitcoins because their trading pairs is the most popular. But against them there are Altcoins in the market which are performing well during the market crash, therefore it does mean that it won't work like this always.
Some Altcoins like ETH.
Well I like to call their relationship with Bitcoins synergistic, which does mean that they will go up! With Bitcoins and at the same time some Altcoins like ADA for example people are generally thinking that it would aky rocket in December 2021.
Some Altcoins are backed as well, owned by a company or enterprise. Their highs and lows in general can be related to bitcoins but can never be 100% in graph. They have synergistic relationship for sure but individuality as well. Let's not forget that.

tygeade

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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.

Well, it’s an indicator for where majority of the market lies, but that’s not for all the coins in the market, there are still a lot of coins that don’t rely or correlates with bitcoin’s price at all. So, if you’re going to be thinking that every of the coins in the market would go up when bitcoin goes up, then I am sorry to say that you would be wrong by thinking that such is how it is in the market.

Bitcoin is still being used as a method of payment till this day, and is still preferred more than other coins there is in the market. No matter how things might seem to you today, maybe because of the fees, yes I do know that, but it still beats others in usage rate. The stablecoins you are talking about are nowhere near when we talk of usage rate, you’d hardly see them being accepted by anyone.

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Quote from: BitCoinDream on December 07, 2021, 01:30:26 PM

No. Bitcoin's main use case is it is an unrestricted medium of exchange.

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

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

Did you know that the StableCoins, that you use, can mostly be frozen right on your address?

Yeah, I agree that it's a very important point. Although it's not like Bitcoin is the only decentralized crypto, right? Also, if we were discussing the way Bitcoin is truly mainly used by the majority of people rather than the way of usage that makes Bitcoin most useful, I think it would be investments. People buy, trade, hodl, focus on the prospects of the value increasing and of making profit this way. There are major exceptions, such as El Salvador, but I don't believe the majority truly use Bitcoin as a medium of exchange and care about the potential of Bitcoin in this area.

Kelvinid

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Quote from: Mahiyammahi on December 10, 2021, 03:09:08 AM

I think btc should be seen as a digital currency which will be traded any person to person easy.

People just come for a trade and then lose their money and sometimes in profit.

Quote

It should be a worldwide currency. Although btc is like gold with limited supply in future this won't get dumped.

Not now, it was just a long-term goal and it needs time (years) before it gets realized. Well, it is sad to see that we're still far from getting to it.
.

Quote

If we had a system that we hold Bitcoin and when it's came to payment option it's instant convert into stable coin and who is receiver he will receive exact same amount wjen I sent it. Cause btc is volatile it can be dump anytime.

No, we don't have. It's up to you if you either hold or not, even trading is still an option. The market never tells what you gonna do with your coins and it was you who could decide it.

Mahiyammahi

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I think btc should be seen as a digital currency which will be traded any person to person easy.

It should be a worldwide currency. Although btc is like gold with limited supply in future this won't get dumped.
.
If we had a system that we hold Bitcoin and when it's came to payment option it's instant convert into stable coin and who is receiver he will receive exact same amount wjen I sent it. Cause btc is volatile it can be dump anytime.

Fesatmas

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Not that narrow in generalizing Bitcoin usage. Means you are only narrowing the use of Bitcoin in our eyes. So far Bitcoin is very complex and not only for the purposes you mentioned. We use it more widely and are not limited to just storage and then switch to Stablecoin when it goes downhill. We are mostly settled on Bitcoin even in bear markets.

Henrobakkara

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Quote from: Voxo2222 on December 07, 2021, 02:00:34 PM

Quote from: DooMAD on December 07, 2021, 01:42:34 PM

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

But yeah..now we know btc main usecase

You're generalising. Bitcoin's primary use case will be different depending on any given user's personal preferences. Within the community we have hodlers, speculators, cypherpunks, idealists, philosophers and more. Some people will even fit into more than one category. You use it the way you want, I'll use it how I want, someone else may use it in yet another way. As such, the primary use case is arguably freedom, because no one is in a position to stop anyone else utilising it in the manner they choose.

Every trader looking the btc price to know how to move.
Thats for sure

This is sometimes not always the case. You must have seen time when Bitcoin was going down or being sideways and some other coins pumping because of some news related to that coin. Yes, bitcoins price action does play a role in the general market however, I do agree with DooMAD, Bitcoins usage is subjective. Investors have different perspectives on using bitcoin and that too is a fact.

aoluain

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Bitcoins main use case now?

Arguably one of the main ones is a hedge against inflation, other uses: Store of wealth,
Funds and wealth transfer.

Bitcoin "MAINLY" being used as an price tracker for $h1tcoins is nonsense. Those coin
traders probably use Bitcoin as a gauge to how the market goes but I think the OP has eyes only
for $h1tcoins and is not focussed on Bitcoin.

avikz

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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 was initially introduced for a different reason. But with the course of the time, it has taken a different direction. It's more of an investment now rather than anything else. But there are couple of people who likes to spend their bitcoins but for majority it's an investment.

For payments, we have much better options available in the crypto market which are faster and cheaper than bitcoin. But the long term value appreciation bitcoin can provide, it is second to none!

enhu

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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

Due to traders speculating the use case of BTC evolved. In any manner, it's still the use of BTC whether we use it for buying stuff as currency or use it to invest or just a store of value. It depends on how you use it, some use it to gamble. Today I think most will just buy BTC to speculate on its value in the future to make money. Buy BTC to make money.

pooya87

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Quote from: mk4 on December 10, 2021, 01:42:04 AM

Traders know that BTC has great effects on altcoin price movements, but doesn’t solely look at BTC to see how alts would perform. Because if alts were totally reliant on BTC, then why even trade alts?

Actually one of the trading strategies in shitcoin market is to look at what bitcoin is doing. When bitcoin isn't making any move at all (like right now) they take their BTC to the shitcoin market to trade with it and increase the amount of bitcoin they own then come back as soon as bitcoin movements started. Which is why altcoins dump each time bitcoin rises or falls.

BTW OP is not arguing about what or why traders do what they do, he is claiming that this is the only purpose bitcoin has Cheesy

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