Can Bitcoin become a daily currency? - page 2.

lukmandog

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Quote from: GaboCarranza on February 14, 2018, 11:03:07 AM

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?

I think it doesn't depend on bitcoin, but on the stores weather they accept bitcoin as payment or not. now bitcoin hasn't become a daily currency because it is very rarely stores which accept bitcoin as payment due to the governments still ban in as payment currency in most countries. technically, bitcoin in most countries still is treated as commodity, not as currency. only some international companies like google and microsoft use bitcoin as payment.

cpkozak

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The existence of Bitcoin and other virtual currencies poses certain challenges for the current currency system. A potential solution to the Bitcoin price fluctuation problem is to link Bitcoin prices to gold. Bitcoin backed by gold can become a formal currency

pecson134

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Quote from: GaboCarranza on February 14, 2018, 11:03:07 AM

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 not yet the time if you are pertaining on a daily basis. For it to be use for daily basis it should be at a stable rate value wise and accessibility should be widen enough so that all levels of society could use the system which is not yet feasible at the moment. What we need is a proper time for it to be executed and implement worldwide but maybe this could happen probably not this year or some years later.

Gheka

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Quote from: TIDOVEE on March 28, 2018, 06:28:22 AM

You may not expect bitcoin to be a daily currency, even if it will be, not anytime soon.
One way you can make it available for daily use is, making a large amount exchange and cashing it out. Then you decide on spending it little by little.
With that one can make daily transactions. Without waiting for daily withdrawal.

Yeah, bitcoin can not become a daily currency when the value of bitcoin will be different every day, that will make the transaction problem very difficult, combined with time to confirm the transaction is quite long, it's really inconvenient for daily use. In addition, the price of bitcoin may increase, spending it every day is a waste, I do not think people would like it to become a daily currency, they will be hurt in the future, so if we need money, we can borrow or convert a small amount of bitcoin into cash, this will be more suitable

daduremi

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Bitcoin will never be a daily currency, it's about high transaction costs.
Bitcoin is better suited to make an investment, although the initial goal of bitcoin is to become the world's currency but now bitcoin has a greater purpose than its main purpose...

BHX91

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As I think, bitcoin can not be used for everyday transactions, because each transaction costs a relatively high cost, and the bitcoin stability is not.

athiftammam2018

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I think it could have been. But like what you said about slow transactions and high fees may be a problem that will soon be addressed, there could be a system change in blockchain in total or there is the addition of new methods. But they must be thinking and finding the best solution to this problem.

dionisi

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Quote from: GaboCarranza on February 14, 2018, 11:03:07 AM

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 will be a daily currency till:

1) We do something about the transaction fees. Consider paying $2 as coffee price and then 1$ as additional transaction fee. Very impractical.

2) We make the bitcoins transfers instant. Consider sitting at the coffee shop for extra 10-15 minutes till the transaction is confirmed.

neo444

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Absolutely bitcoin can become a daily currency because many country accept the payment by bitcoin and the evolution of technology need necessary the change of financial laws and i think that evolution will change the daily currency by bitcoin

chard lie

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Bitcoins can not become common currency, many countries have banned and not accepted bitcoin so it can not become a common currency but the value of it is still increasing.

TIDOVEE

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You may not expect bitcoin to be a daily currency, even if it will be, not anytime soon.
One way you can make it available for daily use is, making a large amount exchange and cashing it out. Then you decide on spending it little by little.
With that one can make daily transactions. Without waiting for daily withdrawal.

piratcoin

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This may all seem somewhat beautiful and impalpable, nonetheless it very bodes well. The Bitcoin prepare is developed of mineworkers, United Nations agency square measure place resources into keeping the money secure and steady as they're paid in bitcoins and set about as endorses of the blockchains through their action. like several on the online and automatic business, it will be susceptible to hacking and felony, equally as your bank will.

xiaohao111

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Quote from: GaboCarranza on February 14, 2018, 11:03:07 AM

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?

I think it's possible. Now bitcoin has many shortcomings that limit it to a daily currency. But I think that with the development of bitcoin, its shortcomings will be improved, and then it will be recognized.

ladyinredcoins2018

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Quote from: GaboCarranza on February 14, 2018, 11:03:07 AM

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?

Sure it can I believe. Im looking forward to it with the technology that we have and the internet it's about time to change paper bill to a much more faster, safer and less payment of transaction as bitcoin. One click of my phone and there it goes!

forbiddenone123

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Can bitcoin become a daily currency, yes because of the popularity of bitcoin we can use them as digital don't forget we use money as our currency maybe in the future will use bitcoin as payment and purchasing a product. But there are some company accepted as payment.

TGD

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Quote from: cordlesslake on March 25, 2018, 12:22:54 PM

Also in my opinion the bitcoin will never be a daily currency both for the fees and for the high unit value and the inconvenience of using it in very small fractions in purchases. However, it will be a reserve currency in perspective.

Exactly for my opinion too this cant be the one of what we may have to be that this can be some of the currency that can be used for daily cause there is a lot of way to be process and to be change for

MintDiceSupport

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Bitcoin has made it into the mainstream ina a lot of ways! There are a lot of places you can spend BTC and I wouldn't be surprised if more places got on board.

MapleCoins.org

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The BitCoin Fees are too high, transfer time is too long.
Why not use any other coins?

I Think that there are few more better coins that can replace BitCoin.

cordlesslake

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Also in my opinion the bitcoin will never be a daily currency both for the fees and for the high unit value and the inconvenience of using it in very small fractions in purchases. However, it will be a reserve currency in perspective.

rose8963

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Will not be. Because the restriction of bitcoin will not meet the same value. We really expect that, but bitcoin will no longer be the most distinctive feature if there are adjustments in this way. Can you change the algorithm and adjust the supply to make the idea farther?

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