Topic: Bitcoin users: Will bitcoin ever be used and fully adapted as a currency? (Read 2023 times)

Quote from: ltcifc on June 21, 2015, 09:28:02 AM

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

Although its being adopted by many people bitcoin will never replace fiat because there are so still too much lacking in bitcoin technology. IAbout the system it still can be hacked too. How are you going to anticipated that? There are still many reason why bitcoin will never replace fiat

well, bitcoin is in its early stages. and since it is a new technology it will take longer time to become flawless. you can't expect it to become wide accepted when it is practically a toddler in comparison to other currencies which were around for many years.

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

No, never

Why never???
It can be used as a currency, but the only condition it will need to satisfy is the stability which is being seen since past few months...
We don't need those immediate spikes and then destructive scenes...
We need stability, and if this will be the scene and even if it reaches $1k steadily, it can be adapted as a currency, a currency which evaluates itself from time to time growing at a stable rate...

aso118

legendary

Activity: 1918

Merit: 1012

★Nitrogensports.eu★

Quote from: twister on June 21, 2015, 08:26:10 AM

I think Bitcoin has a lot of potential to become fully adapted as a digital/online currency, for offline the cash system is too easy to use and a common man don't want to go through the hassles of understanding a new system for his day to day expense. Therefore, I think Bitcoin will be more widely used for shopping/sending payments worldwide and will be more widely used as an online currency.

That could be the first step. Bitcoin can easily replace paypal.
Once that happens, adoption in the offline world could easily increase too.

ltcifc

sr. member

Activity: 344

Merit: 250

No, never

twister

hero member

Activity: 672

Merit: 502

I think Bitcoin has a lot of potential to become fully adapted as a digital/online currency, for offline the cash system is too easy to use and a common man don't want to go through the hassles of understanding a new system for his day to day expense. Therefore, I think Bitcoin will be more widely used for shopping/sending payments worldwide and will be more widely used as an online currency.

dblink

sr. member

Activity: 252

Merit: 250

Quote

Does bitcoin have a promising future?

Yes, bitcoin will have a promising future provided, every individual knows its value and how it's works. It is the first currency of the internet, and everyone is free to use it. with bitcoin we can send any amount of money to anyone, anywhere in the world as easily as sending an email. If these such more details reached all around the world, sooner we will have many banks who will accept bitcoins legally.

1986

full member

Activity: 165

Merit: 100

Quote from: SmartIphone on June 21, 2015, 04:57:05 AM

Quote from: Mickeyb on June 21, 2015, 04:54:47 AM

Quote from: Mickeyb on June 21, 2015, 04:54:47 AM

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

Although its being adopted by many people bitcoin will never replace fiat because there are so still too much lacking in bitcoin technology. IAbout the system it still can be hacked too. How are you going to anticipated that? There are still many reason why bitcoin will never replace fiat

Guys give it time. Development takes time, look at email for example. It took time. I am still believing!

From now i can say that never ever will replace the fiat, it's not just like that.

How do you know? Do you have a crystal ball that can see into the future? Not all fiats are the same. Take the US dollar vs the Zimbabwean dollar. One is worth something the other is worthless. It's not impossible that any currency could collapse at some point even the dollar especially if they keep printing it as a means to try sort the economy out (which has a devaluing effect obviously being inflationary) and with bitcoin being deflationary it could really take off if there was ever a financial collapse or economical crisis.

SmartIphone

legendary

Activity: 1204

Merit: 1000

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

Although its being adopted by many people bitcoin will never replace fiat because there are so still too much lacking in bitcoin technology. IAbout the system it still can be hacked too. How are you going to anticipated that? There are still many reason why bitcoin will never replace fiat

Guys give it time. Development takes time, look at email for example. It took time. I am still believing!

From now i can say that never ever will replace the fiat, it's not just like that.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

Although its being adopted by many people bitcoin will never replace fiat because there are so still too much lacking in bitcoin technology. IAbout the system it still can be hacked too. How are you going to anticipated that? There are still many reason why bitcoin will never replace fiat

Guys give it time. Development takes time, look at email for example. It took time. I am still believing!

Erza

legendary

Activity: 1078

Merit: 1000

Quote from: BTCevo on June 20, 2015, 08:29:12 PM

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

Although its being adopted by many people bitcoin will never replace fiat because there are so still too much lacking in bitcoin technology. IAbout the system it still can be hacked too. How are you going to anticipated that? There are still many reason why bitcoin will never replace fiat

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: jeannemadrigal2 on June 20, 2015, 01:03:07 PM

Bitcoin is pretty much dead.

The only reason btc is still around because it was the first crypto moni and lots of people invested in it. So that lots of people won't let it die so easily. But it is inevitable.

Btc has so many flaws. The biggest one is the speed.

What do you mean? Speed is nothing to compare here. Bitcoin speed on transaction is good enough and things left is confirmation time? I think you misunderstanding speed here

Yeah of course we will still have paper money but I imagine that bitcoin is very attractive for international money transfers, and it will take over as the main currency used by everyone.

Why did you say that? I dont think bitcoin will ever replace as the main currency because there are still many people dont adopt bitcoin as they adopt fiat in their lifes so bitcoin will just stay the same

Never say Never!
although bitcoin is not yet adopted by majority of people, i believe that it has the potential to become much more successful that what it is right now. and eventually it can be a substitute for fiat, or at the very least it can be as useful as fiat and exist side by side with it.

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: jeannemadrigal2 on June 20, 2015, 01:03:07 PM

Bitcoin is pretty much dead.

The only reason btc is still around because it was the first crypto moni and lots of people invested in it. So that lots of people won't let it die so easily. But it is inevitable.

Btc has so many flaws. The biggest one is the speed.

What do you mean? Speed is nothing to compare here. Bitcoin speed on transaction is good enough and things left is confirmation time? I think you misunderstanding speed here

Yeah of course we will still have paper money but I imagine that bitcoin is very attractive for international money transfers, and it will take over as the main currency used by everyone.

Why did you say that? I dont think bitcoin will ever replace as the main currency because there are still many people dont adopt bitcoin as they adopt fiat in their lifes so bitcoin will just stay the same

SmartIphone

legendary

Activity: 1204

Merit: 1000

I think in next decade bitcoin will be adapted very well in this industry and will be usable.

boopy265420

legendary

Activity: 1876

Merit: 1005

Bitcoin has promising future and it is making its way by itself and finally more and more governments begin to show interest in it to regulate it and bring it in some law framework to protect the consumers which is a healthy sign towards bright future and will help it lot to be adopted and used more and more.This regulation by itself will boost awareness in common public about Bitcoin.

BigBoy89

legendary

Activity: 1512

Merit: 1011

Quote from: tmamin on June 14, 2015, 04:23:33 PM

Hey!

Does bitcoin have a promising future?

Or will government intervention and regulation restrict bitcoin to perform as we know it?

I’m currently completing research on the current use of bitcoin. What I hope to prophesise is bitcoin’s future as a currency by asking participants their views on the current competencies of bitcoin through a few questions via a 10 minute online questionnaire.

The UK government’s response to the increasing use of cryptocurrency (AKA digital currency), is a positive one as it ‘increases banking competition in the interests of all customers. Encouraging greater innovation in payments’ (HM Treasury, 2015).

The study will gather global perspectives to answer:
- Does bitcoin has the ability to be fully adapted and used in the economy compared to other payment systems?
- Do certain attributes of bitcoin (such as security, safe guards and lack of regulation) hinder its potential to be used as a payment system or as a facilitator of investment?

Please click the link below if you wish to complete the questionnaire: [/b]

https://www.surveymonkey.com/s/bitcoinresearch1

Thank you!

Bitcoin will slowly take out other payments systems like visa , mastercard , amex, WU and average Joe will be able to do what he wants with bitcoins as what he would do with fiat, the time is nearing folks for this to happen!

newcripto

hero member

Activity: 728

Merit: 500

Bitcoin is future's currency and already is being used as currency and the process of adoption in on going.That day is not very far at what OP referred when Bitcoin internationally will be used as currency just need little more adoption and public awareness and procedure will accelerate.More and more countries are trying to regulate it and which is some type of official recognition.

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: tmamin on June 14, 2015, 04:23:33 PM

Hey!

Does bitcoin have a promising future?

Or will government intervention and regulation restrict bitcoin to perform as we know it?

I’m currently completing research on the current use of bitcoin. What I hope to prophesise is bitcoin’s future as a currency by asking participants their views on the current competencies of bitcoin through a few questions via a 10 minute online questionnaire.

The UK government’s response to the increasing use of cryptocurrency (AKA digital currency), is a positive one as it ‘increases banking competition in the interests of all customers. Encouraging greater innovation in payments’ (HM Treasury, 2015).

The study will gather global perspectives to answer:
- Does bitcoin has the ability to be fully adapted and used in the economy compared to other payment systems?
- Do certain attributes of bitcoin (such as security, safe guards and lack of regulation) hinder its potential to be used as a payment system or as a facilitator of investment?

Please click the link below if you wish to complete the questionnaire: [/b]

https://www.surveymonkey.com/s/bitcoinresearch1

Thank you!

Bullshit does the UK Treasury think Bitcoin is a good idea. it's rat poison to them..

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: Amph on June 20, 2015, 01:16:43 PM

Quote from: mindrust on June 20, 2015, 01:07:55 PM

Quote from: Amph on June 20, 2015, 01:04:02 PM

Quote from: mindrust on June 20, 2015, 01:07:55 PM

Bitcoin is pretty much dead.

The only reason btc is still around because it was the first crypto moni and lots of people invested in it. So that lots of people won't let it die so easily. But it is inevitable.

Btc has so many flaws. The biggest one is the speed.

the speed of what? sending a transction is done in an instant, confirmation time is a non issue, merchants could just accept transaction with zero confirmation

there is a possibility that bitcoin will be dominated only by a niche market, but i don't see it dying ever, especially its technology

what if btc price drops to 3/4 of it was before, while that poor merchant is waiting for his confirmations?

it does happen.

this is one of the reason why we need adoption, to increase stability in price, and overall confidence from merchants or any business activity

it is sure that right now bitcoin is incomplete, but not because its system is flawed, but because the world is still to accustomed to fiat

Btw whats the point of making bitcoin price stable? With that stable price you can't earn as much as in volatile price. With that mass adoption people will try to buy bitcoin and bitcoin price will be higher so what? Bitcoin will never replace fiat although bitcoin has provide with a very good system

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Amph on June 20, 2015, 01:04:02 PM

Quote from: Amph on June 20, 2015, 01:04:02 PM

Bitcoin is pretty much dead.

The only reason btc is still around because it was the first crypto moni and lots of people invested in it. So that lots of people won't let it die so easily. But it is inevitable.

Btc has so many flaws. The biggest one is the speed.

the speed of what? sending a transction is done in an instant, confirmation time is a non issue, merchants could just accept transaction with zero confirmation

there is a possibility that bitcoin will be dominated only by a niche market, but i don't see it dying ever, especially its technology

what if btc price drops to 3/4 of it was before, while that poor merchant is waiting for his confirmations?

it does happen.

this is one of the reason why we need adoption, to increase stability in price, and overall confidence from merchants or any business activity

it is sure that right now bitcoin is incomplete, but not because its system is flawed, but because the world is still to accustomed to fiat

mindrust

legendary

Activity: 3276

Merit: 2442