Topic: Can Bitcoin become a daily currency? - page 17. (Read 1398 times)
I understand that other countries are already using bitcoin in buying usual stuff. I sometimes use bitcoin in sending and receiving money. I think that in the future more and more people will be using bitcoin because it is convenient.
Bitcoin does has the potential to become daily currency, but not now, there are tons of things that need to be done, to be able become a daily currency bitcoin need to be more stable, the transaction speed and the high fee will be solved in the future, the most suitable currency is still bitcoin because it already got a lot of users and a lot of people know bitcoin
Then you have to wait 30 minutes to have breakfast? Or you want to pay the fee which is more expensive than your meal?
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?
In the alternate for the bitcoin there are many coins which are are saying that they can take place of the bitcoin to give more better than what the bitcoin is giving his contribution for the big transaction , but in my opinion digibyte and etherium can do the best as an alternative of the bitcoin .But still here currently I don't think that we need any optional cryptourrency Because we have many options to lower the fee of the bitcoin transaction, for example we can use segwit wallet address for the transaction to lower the fee and also we can use third party option like to use yobit code at yobit.net exchange free of cost to make transaction .
IMHO, Bitcoin can act as gold or diamond or whatever treasure. It is the base currency. The high fee and long confirmation time are the weak points of it. Moreover, there are too many coins out there is better than it for using as daily currency.
I will not use gold or diamond for daily use.
I will not use gold or diamond for daily use.
bitcoin as a daily currency is possible, why not ? the transaction fee is quite high indeed.
not only bitcoin, but other cryptocurrencies could become a daily currency too.
not only bitcoin, but other cryptocurrencies could become a daily currency too.
BTC will fix its issues. It has a tremendous amount of influential backers who truly believe in it. They are just working out the issues and will grow into a better version of itself
Not, obviously and never will be. Transaction cost is huge and it's getting worst. It needs upgrade to make it useful for us for our daily use. Cryptocurrencies are source of income for everyone. So no person is dumb enough to spend it for his personal needs. Why would you use cryptocurrency to buy your needs if theres cash. It's fast and low cost. Anyway, LN(lightning network) should be implemented to make faster transactions for Bitcoin and make the transaction fee more cheaper. But still on development.
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Not, obviously and never will be.
why not? of course it can and infact we are now already using bitcoin as a daily currency ever since it was begun to boom but we are using it mostly in online and right now they were still slowly implementing the use of it in an offline environments. yet it is still workable and possible to use bitcoin offline due to the fact that some countries now are already using it as a payment method on some malls , restaurants , bars , etc.Quote
Transaction cost is huge and it's getting worst.
transaction cost does only depends ( depends on your wallet , depends on how big or small your transactions , depends on the exchange, depends on the price , etc ) but majority of people are only using bitcoin as an investment and not a payment tool , you must rather use other alternatives such as altcoins for a much reasonable fees. 
Not, obviously and never will be. Transaction cost is huge and it's getting worst. It needs upgrade to make it useful for us for our daily use. Cryptocurrencies are source of income for everyone. So no person is dumb enough to spend it for his personal needs. Why would you use cryptocurrency to buy your needs if theres cash. It's fast and low cost. Anyway, LN(lightning network) should be implemented to make faster transactions for Bitcoin and make the transaction fee more cheaper. But still on development.
It has already become it in several space where it is being acceptable. Countries cannot stop the cryptography world as long as they cannot stop the internet. Bitcoin has come to stay because it has gone thru alot of turbulent times in its acceptance. Can this work, Yes.
I think it will be very hard for btc to become a daily currency. it has too much value atm.
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?
Your post answers your own question. Let me clarify this by getting the key points from your post:
1. Bitcoin transactions are way slower than other cryptos
2. fees are high
(taken from the first line)
With these points, can you say that Bitcoin is practical for a daily basis currency? It's an obvious no for me.
ETH, LTC, BCH are much more suitable for this practicality.
Bitcoin will be able to become a digital currency for daily purchases of small value, if it successfully implemented a network of lightning or phantom. Then it is expected that payment in bitcoin will be made almost instantly and with the slightest transactions, which are literally several tens of satosh. However, the lightning network is still being tested and when this project can be implemented in bitcoin, it is not known.
Bitcoin cannot be a daily currency. Specially for countries that have high poverty rate like the third world countries. And not all people know about bitcoin. And not all people have an access in the internet.
Roughly 20 years ago, I said the same thing about cellular phones.
Bitcoin cannot be a daily currency. Specially for countries that have high poverty rate like the third world countries. And not all people know about bitcoin. And not all people have an access in the internet.
It can be use daily if your government legalize it. I mean it can be subject to tax. What we can do for now is to face this. It will be fix soon and to near future.
Bitcoin is not currently used as a daily currency. I know it takes time to complete this process. Problems with low transfer rate and high fee fees have to be resolved. Improvement processes in the present technology should be improved.
Yes there are many improvements that bitcoin needs and our society that received it. Everyone should be aware what bitcoin is so that they know on how to use bitcoin and knowing also the big potential of it. Bitcoin can enables sending money wherever we are but the fees are the problem and we should be focus on that so that it can be low and many people can be able to use it. 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?
Until the capital gains tax situation is either changed, or supported with a new app or something, Bitcoin can only be a commodity and store of wealth.
Otherwise, the IRS will want to know the capital gain you had every time you buy a cappuccino with your Bitcoin, and that would be a book keeping nightmare.
I have not sold or spent bitcoin anyway.
HODL!
Pay for coffee is possible, there are even existing coffee shop that accept bitcoin as a payment across the world, but payment for every thing I think is is far enough from reality. Let says you see an exotic street food during your travel at thailand, those side walk vendor won't accept you bitcoin payment, some even don;t accept dollars. That is my local fiat were present to be a legal and popular tender on each country.
Everything is possible. The currency use is basically based on trust. The more people adapting a specific coin, the more legit and used it is. Let's see what the upcoming 20 years hiding from us.
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