Topic: Bitcoin must come back to its original use - currency ! (Read 1815 times)
Partially, Bitcoin can already be used as a means of payment, but the fact is that now many people store Bitcoin as gold and do not want to spend it. Now he acts more as an investment instrument in which people invest their money in the hope of selling later at a higher price. I think that over time, when its price keeps above $20,000, and the volatility is lower than it is now, people will more often use Bitcoin as a means of payment. Because while everyone is waiting for a strong price increase, you should not expect that those who have Bitcoin will start spending it on food, entertainment, things, etc.
Yes, unfortunately, today Bitcoin is used more as an investment value, and not as a currency. There are many reasons for this and above all - the desire of the majority of people to extract the maximum profit during the long-term storage period, as well as the slow legalization of Bitcoin by the states, as a result of which the infrastructure for using Bitcoin as a means of payment is developing very poorly.
It seems that this situation will not change in the near future.
It seems that this situation will not change in the near future.
It's actually rational behaviour.
Imagine you had $20,000 worth of gold coins and $20,000 in dollar bills. Which would you spend first? The dollar bills of course, because historically they've lost their value over time against gold. Basically you lose nothing by spending the dollar bills first and then the gold, and you potentially gain a lot.
Now consider if you had $20,000 in bitcoin and $20,000 worth of doge. You'd spend the doge first and keep the bitcoin, because again, doges sometimes drops against bitcoin and if you had to bet which would survive it would be bitcoin.
Yes it will be the original price for Bitcoin and it will be the goal also for the Bitcoin to be at you from this situation and the possibility is not been very difficult target to achieve and I hope the end of the year will double the original price for Bitcoin.
Bitcoin is used creatively for many years. that was an incident when a guy paid for pizza a total of 10k bitcoins. and there is also another famous incident like when on 2013 a guy earned 1million bitcoins from satoshi dice at the highest payout when he bet 2bitcoin. in order to make it creative again, some of us have to use it in the real world that will inspire others to use it too, Be an example for others and this is a great opportunity for you.
If bitcoin mostly used as currency then the price will be more stable.
If bitcoin will be used as a currency , people will buy and sell bitcoins actively which means the price will rise and fall more oftenly . by that , how can you say that the price will become stable ? The price can only become stable if people will continue hodling thier bitcoins and that is what they are doing right now . didnt you see that the price is stable at 5k+usd ? However , bitcoin is still a highly volatile type of crypto and at the price can still fluctuate at some point .
If bitcoin mostly used as currency then the price will be more stable. But since the price will tend to rise then you can't force people to hoard it or trading it. It is simple demand and supply rule that applying on bitcoin now. Since the liquidity of bitcoin is still low then the price fluctuations is unavoidable, this condition attracts people to do trading. Traders look into profit from bitcoin by take advantages of bitcoin volatility. Nothing to do with it. But atleast bitcoin is also used as medium of exchange in some online business. so I think it is still okay.
Bitcoin will not be able to be fully used as a means of payment until the states legalize it, its legal status is clearly established, the procedure and conditions for its circulation are determined. Only when the appropriate state cryptocurrency regulation authorities start working will there be an opportunity to develop the cryptocurrency infrastructure as a means of payment. The conditions for this have not yet matured.
Bitcoin should back above $20,000 and make many investor will be glad with bitcoin situation where could raised to higher price, its the only way how to stop bad news of bitcoin for all investor.
That kind of thinking is what gets many investors in trouble, they believe that a coin should have a price and they invest based based on the fundamentals, and while there is nothing wrong with investing in the fundamentals since there are several investors which prove that works, many do not have the patience to hold long enough to see their predictions materialized. 
In order for Bitcoin to become widely used as a means of payment, it is necessary for business structures to be interested in using cryptocurrency as a means of payment. Now for this there are no necessary conditions. First of all, we need the legalization of cryptocurrencies by most states. This happens, however, very slowly. For business structures it is necessary that the use of cryptocurrency does not cause issues in tax and other regulatory bodies. Only then will the infrastructure for using Bitcoin and other cryptocurrency be developed. In addition, there is still an insoluble problem of high price volatility of cryptocurrency, and this greatly hinders its use in business. Business and high price volatility are incompatible with each other.
The truth is that bitcoin isn't use for what it was meant to and in deed we should look back to the original btc whitepaper.
Bitcoin should back above $20,000 and make many investor will be glad with bitcoin situation where could raised to higher price, its the only way how to stop bad news of bitcoin for all investor.
You say that in order to stop bad news about bitcoin, the price of bitcoin must reach $ 20k while the one that can increase the price of bitcoin is the investor's own trust. I think there must be another reason so that the price of bitcoin can be pumped for the price of $ 20kbeing bothered, the industry will keep moving, the cycle will be there to continue.
Bitcoin should back above $20,000 and make many investor will be glad with bitcoin situation where could raised to higher price, its the only way how to stop bad news of bitcoin for all investor.
You say that in order to stop bad news about bitcoin, the price of bitcoin must reach $ 20k while the one that can increase the price of bitcoin is the investor's own trust. I think there must be another reason so that the price of bitcoin can be pumped for the price of $ 20kbeing bothered, the industry will keep moving, the cycle will be there to continue.
I am also sure the price of bitcoin will also return to its position at a higher price. because bitcoin is also the best coin and also the most popular.
My opinion about the Bitcoin in today situation is it was the most expensive and more valuable investment and the profitable currency ever when comparing to the normal country currency had so much of development in it that's why people are getting involved with their savings in future it may be the best in this world.
Yes but bitcoin is kinda very slow if you consider the scalability of the network.
Due to that fact it is very hard for it to be used and adopted as a currency and this is the reason why people have started using it as digital gold in a way of storing value. Of course, lightning network is a thing but it is not reliable to my eyes.
We expect the development like that 2017 but we cannot accurately say it will happened again but we need to accept anything that happened to bakain in this situation then only the success will make you more investment again and the value will definitely increases
My opinion about the Bitcoin in today situation is it was the most expensive and more valuable investment and the profitable currency ever when comparing to the normal country currency had so much of development in it that's why people are getting involved with their savings in future it may be the best in this world.
This should be one of the things that we should have promoted here and not what we are seeing today. Many of us has seeing bitcoin as investments tools and not as currency. We are concerned about how mush we would make from the push or fluctuations in pricing. Bitcoin been used as an assets to trade or invest for high profits will undermine it values and it positions as a currency.
Yes, unfortunately, today Bitcoin is used more as an investment value, and not as a currency. There are many reasons for this and above all - the desire of the majority of people to extract the maximum profit during the long-term storage period, as well as the slow legalization of Bitcoin by the states, as a result of which the infrastructure for using Bitcoin as a means of payment is developing very poorly.It seems that this situation will not change in the near future.
Bitcoin should back above $20,000 and make many investor will be glad with bitcoin situation where could raised to higher price, its the only way how to stop bad news of bitcoin for all investor.
You say that in order to stop bad news about bitcoin, the price of bitcoin must reach $ 20k while the one that can increase the price of bitcoin is the investor's own trust. I think there must be another reason so that the price of bitcoin can be pumped for the price of $ 20k Bitcoin has many uses and making payments is just one of them. Satoshi has never said that Bitcoin should be only used as a currency. If that was the case, then there would have been no limit on the maximum supply. Since Bitcoin is protected from inflation, it is natural to assume that it can also be used as an investment asset, or as a store value of money.
Agreed, also that is what most of us has been practiced for how many years, as an investment and you can't actually change them on how they think. All of us wants to earn money, and btc is one of those that can give us profit. Also, we are not setting aside btc as a currency, if there's a lot of store or online shopping in the near future that accept btc, we're gonna use it eventually. 
Bitcoin has many uses and making payments is just one of them. Satoshi has never said that Bitcoin should be only used as a currency. If that was the case, then there would have been no limit on the maximum supply. Since Bitcoin is protected from inflation, it is natural to assume that it can also be used as an investment asset, or as a store value of money.
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