Topic: Can Bitcoin become a daily currency? - page 15. (Read 1398 times)
How can Bitcoin become daily currency if the transaction can not be canceled? this will lead to massive fraud, because you can not return money for example for a damaged product...
At the present time, it's not yet possible for the bitcoin to become a daily currency. People from all over the world should first be aware that there is this kind of cryptocurrency going on. Not all denizens have heard about bitcoin. Only a minority of the world population has ample knowledge about this virtual currency. I think there is a chance that bitcoin can someday be used as a regular currency to be used everywhere but I guess it would take about a decade from now before it will happen. At that time, everybody will be aware of bitcoin and a more advanced technology will come out to make the bitcoin's transaction a much faster and smoother one.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
it is possible that our daily currency is bitcoin because today is known bitcoin in many countries and they enjoy it in fact there are countries that can pay bitcoin. Bitcoin was originally developed with the hope of eventually eliminating the need for conventional currency and traditional banks. Whilst cryptocurrencies, and in particular Bitcoin, have grown significantly in popularity.
Currently, bitcoin can not become a crypto currency, which could be used for daily purchases of small value. The reason for this is its low scalability, hanging due to this transaction and high commission fees for conducting these transactions. When these problems are solved, calculations in bitcoin will be carried out very quickly and with a small commission, only then bitcoin can be used for daily purchases, including small value.
The fees of bitcoin transaction is high therefore now this will be hard...eth transaction fees is just 0.8$ in the worst case and the transaction is fast so eth can be a daily currency
We talk just about the present
We talk just about the present
How much time ago did you send your last transaction? Many people are constantly saying that Bitcoin transaction fees are too high and it takes a lot of time for them to confirm. These days transactions are quite cheap and it takes around 10 minutes for confirmation. Bitcoin could become used for daily purchases thanks to the Lightning Network which is even faster (like debit cards) and usually cheaper than on-chain transactions.
Thanks to the introduction of Lightning Nerwork, bitcoin lost the problem of long waiting for transactions, but there still remains a high transaction cost compared to, for example, Litecoin. I hope this problem will be solved either, or bitcoin will become an asset for long-term investment, and not for making everyday payments.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
Lightning Network is supposed to make this happen, let us see when LN is fully implemented if tx fees and confirmation time is greatly lessen. We can only hope that tx time and fees will be solved not just for daily tx but also for bitcoin to be always on top.
it is still too early to discuss it, the main vision of bitcoin is to become the world's currency. but after seeing the rejection of various countries against bitcoin, I think it will be very difficult to be realized.
besides bitcoin, can be said not perfect to be the daily currency, regarding transaction costs and delivery confirmation time
time consuming and cost, bitcoin is more suitable for large transactions
such as buying and selling between companies that use large funds
besides bitcoin, can be said not perfect to be the daily currency, regarding transaction costs and delivery confirmation time
time consuming and cost, bitcoin is more suitable for large transactions
such as buying and selling between companies that use large funds
Now it is difficult to talk about it, as bitcoin has not yet developed to use it daily for small purchases. However, I know that the work on the size of the commission is going on, and quite successful, so in the future it is quite possible that we will be able to buy a cup of coffee for bitcoin without commission.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
Its impossible to happen. Bitcoin is designed to become a storage of wealth. If you want to buy coffee then convert your bitcoin into bitcoin - cash. That is the purpose of BCH.
I think I have to agree with you in this one, Bitcoin and its price is becoming more of an investment asset, BCH has more chance to becoming a daily crypto, however I think they should develop something like Litepay or Bitcoin will still be preferred for payments in my opinion.
I don't think so, for now, because not all country or people have known bitcoin yet, some of them are still wondering whether they were going to accept it, adapt it or use it, for them to make a daily currency like when buying something in the convenient store or in the market like people usually do, there's still need of legality and a confirmation of it before it happen, but like we all know nothing is impossible now with the kind of technologies that we have today, with all these electronics machine, gadget and all that everything can happen.
If lightning does what it promises I think Bitcoin can become a daily currency but I also think it should be more stable to be uses by companies. It's extremely difficult to set prices in BTC at the moment. A lot of companies set prices in $ or € and you have to check on a converter how many BTC you should transfer. This is not the most easy way for the non-crypto investor to step in using BTC.
Also the way to get BTC and store them are still not that easy for people who aren't really into Tech and computers. For most of us here it's not really difficult to understand how to store it safely and how to acquire it but try explaining it to your father, mother.
I think everyone on this forum would like to see BTC become a daily currency but we all know how it works. For it to become a common currency people without crypto insight should be getting on board and start seeing the benefits crypto can offer.
Also the way to get BTC and store them are still not that easy for people who aren't really into Tech and computers. For most of us here it's not really difficult to understand how to store it safely and how to acquire it but try explaining it to your father, mother.
I think everyone on this forum would like to see BTC become a daily currency but we all know how it works. For it to become a common currency people without crypto insight should be getting on board and start seeing the benefits crypto can offer.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
The price of bitcoin is not stable and at the moment it is difficult to imagine that it will be possible to pay for it every day for goods and services. The popularity of crypto currency is growing, but not so fast, although there are cases of selling goods for bitcoin, but there are not so many.
Essentially i think.. bitcoin will become a daily currency if the governments has supports it.
And i think it would be more appropriate if bitcoin is more used or will be highlighted for more used in transactions in everyday life than other cryptos such as ethereum, due this is the crypto king that was first recognized by many people from different countries, and some countries have validated bitcoin as the currency approved for payments than other cryptos.
And i think it would be more appropriate if bitcoin is more used or will be highlighted for more used in transactions in everyday life than other cryptos such as ethereum, due this is the crypto king that was first recognized by many people from different countries, and some countries have validated bitcoin as the currency approved for payments than other cryptos.
The slow transaction processing and fees have to be resolved for us to be able to use bitcoin as a currency. Plus the volatility of the price. It's a good thought, a cashless transaction but there are a lot of issues that needs to be resolved before that happens.
I do not think that the high fees or the transaction times will be the problem. From all I know the lightning network is capable to solve those problems.
If you want bitcoin to become a currency for daily use it would need to become stable at first.
When people have to pay highly different bitcoin amounts within a small period of time in order to get the same good, I am sure that not many people will do that.
But do we really want a stable bitcoin?
I suppose that Bitcoin will stay what it already is, a very profitable investment.
If you want bitcoin to become a currency for daily use it would need to become stable at first.
When people have to pay highly different bitcoin amounts within a small period of time in order to get the same good, I am sure that not many people will do that.
But do we really want a stable bitcoin?
I suppose that Bitcoin will stay what it already is, a very profitable investment.
yes there is a possibility in the next few years bitcoin will be used as a means of payment transactions or buying and selling tools. With the growth of its time may be in various countries or in Indonesia,
semogga bitcoin is becoming increasingly widespread.
semogga bitcoin is becoming increasingly widespread.
Right now, I don’t think Bitcoin is suitable for daily currency. However when the lightning network is launched, it is possible.
It will be cool, if big all in one markets accept bitcoins. But little magazines cant do this due to network scalable.
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