Bitcoin users: Will bitcoin ever be used and fully adapted as a currency? - page 2.

mindrust

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

Quote from: SpanishSoldier on June 14, 2015, 07:16:00 PM

Quote from: jeannemadrigal2 on June 14, 2015, 06:54:31 PM

Eventually bitcoins will replace the dollar as the ~~international~~ electronic currency

Everything is online now, amazon wants to deliver groceries to your front door with drones! Things are changing and I can see a future where most transactions for goods and services are done online using bitcoins. International commerce in particular will be interesting for bitcoins.

FTFY... paper money will still be required.

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 would anyone need btc while MasterCard&Visa can do everything (and more) that btc can? (onlinewise)

The only advantage of using btc is anonimosity. (which is pretty much ded also, you can not btc>usd huge amounts of coins without getting caught by gov) Nothing else.

Amph

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Quote from: mindrust on June 20, 2015, 01:01:46 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

jeannemadrigal2

sr. member

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Quote from: SpanishSoldier on June 14, 2015, 07:16:00 PM

Quote from: jeannemadrigal2 on June 14, 2015, 06:54:31 PM

Eventually bitcoins will replace the dollar as the ~~international~~ electronic currency

Everything is online now, amazon wants to deliver groceries to your front door with drones! Things are changing and I can see a future where most transactions for goods and services are done online using bitcoins. International commerce in particular will be interesting for bitcoins.

FTFY... paper money will still be required.

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.

mindrust

legendary

Activity: 3276

Merit: 2442

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.

Envrin

sr. member

Activity: 318

Merit: 251

To be honest, I'm a little concerned of Bitcoin's future at the moment, thanks to Mike Hearn and Gavin Andersen's potential hard fork over into Bitcoin XT, as I believe if they're successful, a) it would completely backfire on them within 6 months, and b) it would destroy all trust / confidence in Bitcoin, rendering both Bitcoin XT and Bitcoin Core useless.

What's especially disheartening is when I hear things from the likes of Mike Hearn who basically says he wants to consolidate power via mining farms, then give himself and his cohorts the ability to freeze coins at a whim via a blacklist they will create. If something like that ever comes to fruitition, I'm switching back to fiat immediately. If my finances have to live under external regulation, I'd much prefer that regulation be governed by the Canadian government versus Mike Hearn and his buddies.

bitnanigans

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Activity: 266

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Bitcoin definitely has a big future ahead. Adoption will definitely grow and the price will rise. However, most people are currently holding, expecting the price to go up, so not a lot of use as a currency at the moment.

tmamin

newbie

Activity: 14

Merit: 0

Quote from: ?? on ??

Did you make this thread in every sub-forum, or just all the ones I happen to visit? Ridiculous.

sorry if it looks like spamming, i'm trying to gain exposure and opinions for some research im carrying out. bitcoin forums seem to be a great place for it, and im attaining some fab feedback

Quote from: --Encrypted-- on June 14, 2015, 07:13:38 PM

Quote from: ?? on ??

Did you make this thread in every sub-forum, or just all the ones I happen to visit? Ridiculous.

reported all 7 (seven, dammit) of 'em for spam.

:/ oh no...

SpanishSoldier

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Quote from: jeannemadrigal2 on June 14, 2015, 06:54:31 PM

Eventually bitcoins will replace the dollar as the ~~international~~ electronic currency

Everything is online now, amazon wants to deliver groceries to your front door with drones! Things are changing and I can see a future where most transactions for goods and services are done online using bitcoins. International commerce in particular will be interesting for bitcoins.

FTFY... paper money will still be required.

--Encrypted--

copper member

Activity: 924

Merit: 1007

hee-ho.

Quote from: ?? on ??

Did you make this thread in every sub-forum, or just all the ones I happen to visit? Ridiculous.

reported all 7 (seven, dammit) of 'em for spam.. looks like most of the mods are offline atm, though.

jeannemadrigal2

sr. member

Activity: 322

Merit: 250

Eventually bitcoins will replace the dollar as the international currency

Everything is online now, amazon wants to deliver groceries to your front door with drones! Things are changing and I can see a future where most transactions for goods and services are done online using bitcoins. International commerce in particular will be interesting for bitcoins.

tmamin

newbie

Activity: 14

Merit: 0

Quote from: Buttknuckle on June 14, 2015, 06:30:12 PM

I think that at this point it is doubtful bitcoin will be used as a currency. Pretty much everyone in cryptos is here to make money it seems. We treat it like an investment, not a currency. If you get money from the bank, how many people hold on to that hoping the price will increase by multiples? My guess is nobody. Plus governments don't seem to like it so they will put pressure with regulations to prevent it from being popular.

what about the anonymous, decentralised nature, low transaction cost and fast payment - of bitcoin being used as a currency; there are so many other benefits? surely it's more than just an investment

not gonna lie, i wish i bought into bitcoin 4/5 years ago just for investment purposes Sad

tmamin

newbie

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Quote from: jbrnt on June 14, 2015, 06:22:30 PM

Bitcoin is going to be used as an internet currency. People are going the buy things in foreign countries and pay in bitcoin. It is fast, easy to use, low fees which takes out all messy work of exchange rates. It is not going to be a hit in local shops because fiat and credit cards are more convenient for the shop owner.

Will help with your survey later on.

thank you for your interest in the survey and response Cheesy

I agree, but there is a growing use of bitcoin in shops. in 2013 there were only 10,000 merchants using bitcoin worldwide. today, there are over 100,000 bitcoin accepting merchants!
in recent research (that i conducted), it has been opinionated that the credit/debit card system in place is much more convenient. Some business owners completely abandoned bitcoin due to this.

Buttknuckle

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★YoBit.Net★ 100+ Coins Exchange & Dice

I think that at this point it is doubtful bitcoin will be used as a currency. Pretty much everyone in cryptos is here to make money it seems. We treat it like an investment, not a currency. If you get money from the bank, how many people hold on to that hoping the price will increase by multiples? My guess is nobody. Plus governments don't seem to like it so they will put pressure with regulations to prevent it from being popular.

Lauda

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Terminated.

Quote from: tmamin on June 14, 2015, 06:02:24 PM

how long do you think it will take for bitcoin to be adjusted properly, have a stronger network and be used in its rightful way as a currency?

That is a tough question. If you are familiar with the recent events in regards to the block size limit being raised and Bitcoin XT you probably know why.
Bitcoin has too many people that are closed-minded. The problem is that Bitcoin can't handle the needed amount of transactions for it to become mainstream.
20 MB blocks would be useless if we got anywhere near mainstream.

I guess it is going to take a combination of block size and other technologies (e.g. Side chains; Lightning network) before the network is ready.
I think that it is going to take us a few more years. I'm not going to mention a specific number as I will probably be wrong.

jbrnt

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Bitcoin is going to be used as an internet currency. People are going the buy things in foreign countries and pay in bitcoin. It is fast, easy to use, low fees which takes out all messy work of exchange rates. It is not going to be a hit in local shops because fiat and credit cards are more convenient for the shop owner.

Will help with your survey later on.

melody82

sr. member

Activity: 378

Merit: 257

Yes it will absolutely be adopted fully as a currency. There are just too many advantages over the traditional banking system for it to not be more widely used. Some regions are already seeing an attempt from governments to prevent its widespread adoption, but due to its semi-anonymous nature it will be difficult to control this. Even in areas where it is outright banned it can still be used if people want to use it. All it takes is time and it will spread like wildfire across the globe.

tmamin

newbie

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Quote from: coinableS on June 14, 2015, 05:58:51 PM

The government can't ban code. They can try to restrict it but anyone can use it who wants to. Just like before when they wanted and tried to ban file sharing they failed. Close down one site and another pops up, and then torrents came along. Now they rely on ISPs to report people who appear to be torrenting but it's all something that can be circumvented.
Yes I think there will be a bright future for bitcoin, it's still young and misunderstood.

Bolivia and Kyrgyzstan are the only two countries that seem to actually prosecute users of bitcoin, and there are other countries who claim they have a ban on bitcoin. But you're absolutely right, no one can actually stop the alternative routes of using bitcoin

tmamin

newbie

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Quote from: Lauda on June 14, 2015, 05:57:31 PM

In this case we have a 50% chance of it happening, because it either is going to happen or it won't.
Looking at the current state of the network it can't happen yet. Bitcoin can't handle mainstream adoption at the moment.

If the protocol gets adjusted properly so that we it can handle this, it just might.

how long do you think it will take for bitcoin to be adjusted properly, have a stronger network and be used in its rightful way as a currency?

coinableS

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The government can't ban code. They can try to restrict it but anyone can use it who wants to. Just like before when they wanted and tried to ban file sharing they failed. Close down one site and another pops up, and then torrents came along. Now they rely on ISPs to report people who appear to be torrenting but it's all something that can be circumvented.
Yes I think there will be a bright future for bitcoin, it's still young and misunderstood.

Lauda

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Activity: 2674

Merit: 2965

Terminated.

Well we can't really know. You can just get personal opinions. Just as Andreas Antonopoulos said at a conference, we shouldn't really try to predict the future as most of the time we're going to get it wrong.
In this case we have a 50% chance of it happening, because it either is going to happen or it won't.
Looking at the current state of the network it can't happen yet. Bitcoin can't handle mainstream adoption at the moment.

If the protocol gets adjusted properly so that we it can handle this, it just might.

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