Topic: Bitcoin must come back to its original use - currency ! - page 9. (Read 1844 times)
As far as I remember satoshi developed it as just a prize currency and nothing else. So will you want to take it back to that?
I understand how the good the idea is. Hacking will be stopped if you only have one account. The reason is that you can be tracked. So security is a bit good compared to what just seems to be anonymous. The only problem on the other end is that if you are know with the money that you have you can be the center of interest for those who would be committing crimes like for example robbers. But that can be given solution. Being anonymous until somebody challenges your identity after being reported as a hacker and that after that if proven not guilty you are allowed to pick new address to hide yourself again. If guilty you will be sending back the coins you have stolen with your identity known as being a hacker. This I think will help resolved the problem of security and so much hacking.
I agree because it would be easy to use and accessible.
But it looks like it may happen will not see the present situation might be difficult if it's back to the beginning
But it looks like it may happen will not see the present situation might be difficult if it's back to the beginning
It was possible some years ago here, when we had really much more less users than now, and I remember our motivation back in these years was to see bitcoin accepted by big merchants
As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"
Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
This is also want I wanted for bitcoin, to serve as currency not a commodity. But we can't blame the peoples interest in putting a value to something exxagerately. People are feed with greed, and we can't blame people for that. As a bitcoin and blockchain enthusiast. I technically use bitcoin as currency and never hold one. I invest into startups that runs ICO and I use currency as currency. The way they were intended to be.
Yes I agree, bitcoin should return to the currency because the main function of bitcoin is to replace the current financial system we use, with increasing number of users so I hope that transactions with bitcoin continue to increase.
One of BTC's strength, which is its deflationary nature, is also one of its greatest weaknesses. Like gold, its most valued utility is as an investment and a store of value if one was willing to take the volatility. But theres only one way BTC is going. Up.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
That is so true, it's biggest strength has turned out to be the thing holding it back. How long do you think it will actually take for some form of price stability to be realised? I think even with the scaling updates like segwit and lightning that only goes half way to making sure that bitcoin can be used as a currency
Not because of the greed that makes bitcoin a commodity to invest, all because of circumstances that require bitcoin to be an option as an investment. Some countries have their own regulation of the currency so that there are certain conditions to recognize a thing to be one currency has a physical, and bitcoin can not meet one of these conditions. I am more comfortable bitcoi considered a digital asset because fluctuations in price really resemble an investment commodity.
Currently many people make bitcoin for investment instead of currency, and I prefer to say that bitcoin is a digital asset compared to currency because bitcoin can not replace the function of currency.
if bitcoin has to return to its original goal of making it difficult to make today because many countries forbid bitcoin in countries if their status as currency, unlike commodities, some countries allow it
We don't know exactly and how long it will take to reach its original value but there are many factors to be considered. Surely one day Bitcoin will hit back to its original value where it was before, but the market cap should increase.
Yeah, a lot of people are still using it as a currency every day although so many people prefer it as a store of value anyway. However, we cannot expect everyone to think alike since bitcoin serves as both store of value and as a currency, but the greed and manipulation is all the things we will keep getting to see now and there is just no way we cannot until the market really ends up very matured enough to be used basically as a currency.
I can't say that our society is ready to accept bitcoin as the currency today but in the future this will be possible. To my mind, it must be used as a currency as it has a lot of advantages compared to others
One of BTC's strength, which is its deflationary nature, is also one of its greatest weaknesses. Like gold, its most valued utility is as an investment and a store of value if one was willing to take the volatility. But theres only one way BTC is going. Up.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
A lot of new comers here in the industry have a misconception about the bitcoins because they thought that this is just a kind of investment but they are really not meant to be one. They are created as a currency that is why they are called the cryptocurrency and the bitcoins are the pioneer and before they are really been used to transact but as the people discovered the volatility they became a pure investment. I just want to say that dont be afraid to use the bitcoins as a transaction tool
i think being a currency is just one of the many ideas why bitcoin was created, but since the whole digital system is evolving, even the world changes financially, every ideas evolve as it goes on the wire to present economic status. bitcoin is developing into more ideas and financially, it is coping with the aid of human needs and wants, bitcoin is ever-developing as the world evolve, more and more ideas will be developed.
It will be definitely used as the currency. I even suspect that people that stay online as they work on computers, will prefer to use exactly virtual money. It will be much more convenient for them.
i think being a currency is just one of the many ideas why bitcoin was created, but since the whole digital system is evolving, even the world changes financially, every ideas evolve as it goes on the wire to present economic status. bitcoin is developing into more ideas and financially, it is coping with the aid of human needs and wants, bitcoin is ever-developing as the world evolve, more and more ideas will be developed.
It will be definitely used as the currency. I even suspect that people that stay online as they work on computers, will prefer to use exactly virtual money. It will be much more convenient for them.
I agree with what the OP is saying and I do believe some do use bitcoin as its original purpose. It is slowly being used as it is but slowly progressing because there are some countries that does not accept bitcoin as payment yet and although there are some countries which accepts them, it is hard to look for websites too that accept cryptocurrencies as payments and the shipping should be one to look out for too when purchasing things online.
Even accessibility where not widely happening yet, just think of having it still for future, like how bitcoin does before. The early owners and users benefit more in crypto.
I agree with what the OP is saying and I do believe some do use bitcoin as its original purpose. It is slowly being used as it is but slowly progressing because there are some countries that does not accept bitcoin as payment yet and although there are some countries which accepts them, it is hard to look for websites too that accept cryptocurrencies as payments and the shipping should be one to look out for too when purchasing things online.
One of BTC's strength, which is its deflationary nature, is also one of its greatest weaknesses. Like gold, its most valued utility is as an investment and a store of value if one was willing to take the volatility. But theres only one way BTC is going. Up.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
With that said, tell me, are you willing to spend your coins for your daily needs? Then prove it. Because I dont. The opportunity cost is too great.
A lot of new comers here in the industry have a misconception about the bitcoins because they thought that this is just a kind of investment but they are really not meant to be one. They are created as a currency that is why they are called the cryptocurrency and the bitcoins are the pioneer and before they are really been used to transact but as the people discovered the volatility they became a pure investment. I just want to say that dont be afraid to use the bitcoins as a transaction tool
Bitcoin was created to AVOID banks and basically ruin them and you want the banks to use Bitcoin and even make BTC bank accounts? Funny.
I think one of strength sides of btc which is deflationary nature, is also one of its biggers weaknesses. Its like gold, most valued utility as an investment, and a store of value if one was willing to take the volatility.
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