Topic: Can Bitcoin become a daily currency? - page 11. (Read 1398 times)

yeah, you're right I think an unstable price will certainly hurt the seller if they don't know how to process payment with bitcoin because with fluctuations, of course, the price can drop anytime. if bitcoin is implemented as a daily payment. of course, there must be a special technology like bitcoin debit card so don't need to use transaction fee and bitcoin will be converted automatically to fiat if the sellers want it.

With the current high fee, bitcoin is better suited to be a digital asset invested for a long period of time. Whereas if you want to use crypto for daily finance I prefer to use altcoin like ethereum (ETH) and bitcoin cash (BCH) whose transaction cost is much lower than bitcoin. But, if you still want to use bitcoin as daily money it could be but the risk of loss is borne by each.

Isn't quite possible if there is no other options just like of using fiat. But then, since fiat currency are still widely used, it can't be push to used this 3rd world currency generation as we considered of having high fees in all transaction. If they just lower the fees or it is free of charge, a huge possibilities that many people will choose bitcoin to be used than of fiat.

Well it's just like what you have said, even if it's successful, bitcoin is slow in transactions and its fees are too high. So maybe bitcoin cannot become a daily currency for us. But some coins have the potential for being used as a daily currency. Just make sure that that coin is fast in transactions and its fees are so addordable to all of us.

Just from your own quote those are the issues BTC needs to solve for it to become a daily currency. Once those issues gets fixed it may have more potential for daily use. However, I do see BTC as more of an asset than a currency though.

Bitcoin can become a currency for daily purchases if you have too many bitcoins and you will still be making expensive purchases. That is, for billionaires it will still work.
 However, for most ordinary people, it is impractical for average incomes and very expensive to use it to make daily purchases.

On a general note, i really do not see bitcoin becoming a daily currency because it is a digital currency that requires the use of an internet and as such, would not be suitable for smaller transactions.

I'd like to point something out here that is not being noted by y'all. Speed of ACTUAL settlement. In bitcoin, it's settled, realisitically, in three blocks. That's on average a half hour.

The 'fast' transaction speed of fiat is an illusion. Actual settlement, depending on the banking entities involved, is between 24 hours and seven business days. They give you a 'credit' almost instantly, but that's what it is: Credit. IT CAN BE REVERSED.

Bitcoin solves this. When the transaction becomes confirmed, it's DONE. No takebacks, no bullshit.

Even with LN, this remains true, as each transaction in the side chain (payment channel) becomes permanent once confirmed, and doubly so once the channel is confirmed on the blockchain.

The problem to daily adoption is not speed or fees, it's ease of use. With a credit system on top of it, such as LN or even a totally off chain solution like VISA, that problem goes away.

Remember, it took 24 years and the biggest single theft of hard money in history to make the Fiat US Dollar have any kind of efficacy. BTC has gone more than halfway in less than half that time, and it doesn't require the massive theft of a population's wealth to make it happen. Just some incremental improvements in software, and a lot of adverstising.

Yes, it can be, and MUST BE a daily currency. If it fails to do so, then it fails completely. The sheer amount of resources invested in it militates towards it becoming a daily currency.

Bitcoin cannot be a daily currency because it will resulted for having delays because the confirmation time in bitcoin is not that fast so we can really expect a delay in your payment which can cause a problem to the people who are accepting it. Bitcoin also have a fee before you can completely send your bitcoin which is another thing to be bother with because just imagine the additional thing to pay if you will use bitcoin.

Yeah,  it's possible. It will happen when all the currencies collapse,  and then bitcoin will change them. We will be able to use bitcoin as a daily currency if no currency circulates all over the world.

Yes it is still possible. bitcoin can become a daily currency if all country around the world using bitcoin.
but for now, there are many countries that not using bitcoin, and not allowing to using bitcoin.

For the convenience of payment for all kinds of transactions (buying on the Internet, paying for telephone services, paying utility bills) would be convenient, as far as remote transfer is concerned. A trip to the cinema, the store and other joys of life I do not think it would be convenient.

It is possible i guess. The popularity of bitcoin currently is high. Many people are now talking about this and apparently debating it. The fact that can be bitcoin will be part of our daily is possible just likw other credit card. Credit cards is a sort of the same to bitcoin so it is also possibly use in daily life.

No one know how the future of bitcoin. Maybe if the users of bitcoin always increase day by day, bitcoin can be the daily currency for our life. I really excited if someone ask me about it, because I really hope that bitcoin can be the best way we use to our daily needs, for our life. Let's imagine how if we can pay our coffee with bitcoin! Bitcoin have the future I think.

I hope it can happen someday that bitcoin is our daily currency to buy our needs and everything. And also the government will allow to each and everyone that bitcoin is officially legal.

You have given an answer on your question. To use Bitcoin as a daily currency, we need to make a huge amount of transactions, therefore those transaction would be outside of the blockchain of Bitcoin. Now the developers are deploying a new technology The Lightning Network which make possible to create between users a channels ensured by bitcoins.

If you are asking about another crypto currency which has a potential in this field, I can advise Dash. The instant transactions of Dash are pretty fast and safe.

If we answer this question from the positions of today's trends, the answer suggests an unambiguous one - it can not. But bitcoin has his own fans who will not hesitate to resent such uncompromising skepticism. In addition, short answers are always introduced into a stupor, and you want to continue the conversation. One needs explanations, another proof, somebody hopes - but suddenly there is a chance? They really want to be reassured - of course, there are!

Bitcoin transactions are a bit too much to use in transactions. There are always transaction fees when you pass or give Bitcoin into other wallets. It can become a daily currency but only if the fees are lowered or maybe eradicate the whole transaction fees and just use Bitcoin as a mode of payment for everyday use.

well bitcoin as we know today might not be good as a daily currency but sure there can be a way to make such a coin and stop using paper money for good someday and bitcoin still good for big deals and payment and a lot faster than banks or any other form of payment

That is actually what we are aiming for. Right now, the possibility is hazy because of the fees and tx time that really make people think that using it is ridiculous. If only they fix that then governments are already discussing the policies that we just need to follow.