Topic: Can Bitcoin become a daily currency? - page 4. (Read 1398 times)
It can but as to its current state, I do not think it is even feasible at the moment. It is because there are lots of legitimate issues with Bitcoin since its onset that it had failed to address up to the present. What makes the situation worse is the fact that governments across borders deliberately or unconsciously fail to act on the matter, hence, Bitcoin's legal existence is still on a hang which makes investors and other prospective investors to not totally stand with it. I think therefore that before it can even be considered as a daily currency, it has to have some color of legitimacy in terms of its existence and some level of stability. Otherwise stated, it has to be somehow regulated so that the value does not decline or balloon so abruptly causing too much stress on the market itself.
Bitcoin could be used as a currency for daily use, since it can be used for purchases of goods and services, and for its value will be very attractive to the seller, regardless of their rates
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?
Yes bitcoin can become a daily currency because bitcoin is already known bybso many people.In bitcoin you can make your time and effort productive.You can be so successful in using bitcoin because it can help you in so many ways.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?
Yes bitcoin can become a daily currency because bitcoin is already known bybso many people.In bitcoin you can make your time and effort productive.You can be so successful in using bitcoin because it can help you in so many ways.
On my opinion, it cant be our daily currency, because we still need real money for some payment that cant pay with bitcoin, but it can help us in some payment, and if bitcoin will be legalized or such implemented world wide, i think there is a chance to become part of our daily currency
No it can't be a daily used currency, its a complicated alogarthim.
Many people are trying to find ways, for them to exchange their service for cryptos, in our country catering private service is accepting bitcoin for cupcakes.... Lets wait other also for them to prepare themselves with this kind of transaction.
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?
And we don't want another fiat currency, right? In order to not create money out of thin air you have to use some resources. The PoW algorithm is perfect for this purpose because it lets the market decide how much energy it is worth to invest in this process.I'm not sure of the correctness of the gold/bitcoin mining ratio. Any idea where is he getting his numbers from.
Could you add some sources for your claims, like the gold mining one?
That would make this post amazing and a great resource to share. As it stands with 0 sources, not so much.
Bitcoin is now under the development, then I think the countries part is to take their action how to apply tax with their people using bitcoin. Regulation is the part of the government to make the economy better alongside with bitcoin. 
all things considered, you should utilize digital currencies first before beginning a point about them. furthermore, you my companion have not been utilizing bitcoin or some other digital money. since in the event that you used bitcoin then you would have definitely realized that bitcoin exchange expenses are not high as well as they are at their least right at this point. furthermore, exchanges are moment the affirmation requires some investment which is restricted when a piece is discovered, 10 min by and large.
Before proceeding onward I need to specify Lightning Network which is as of now working and exchanges on there are almost free and moment.
Before proceeding onward I need to specify Lightning Network which is as of now working and exchanges on there are almost free and moment.
Well !! We can't do something about those countries that will ban it but the adoption of bitcoin is keep on growing everyday many countries are starting to adopt bitcoin so this scenario of seeing bitcoin being used to buy all things is there and it's visible at the moment.
Yeh, Bitcoin can become a dialy currency.
If you did use bitcoin then you would have already known that bitcoin transaction fees are not only not high but they are at their lowest right now.
And transactions are instant the confirmation takes time which is limited by the time a block is found, 10 min on average.
If you did use bitcoin then you would have already known that bitcoin transaction fees are not only not high but they are at their lowest right now.
And transactions are instant the confirmation takes time which is limited by the time a block is found, 10 min on average.
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 Bitcoin can become a daily currency. It is a possibility and in fact some people are already using it. But then again, it needs--badly needs--to add a lot of developments to their coin for it to really prosper as a daily currency. Confirmation is slow, transaction fees are high; these two alone are enough for Bitcoin not to be used as a daily currency. Bitcoin for coffee? I think it is not a good idea. Well, as an alternative, we have Litecoin. Although when it comes to confirmation time, we really have to have some waiting time. Fiat is better when it comes to this. If you are done with your coffee, you can just leave a bill under your saucer and you are good to go. Instant is all we need!
It is now under the development, then I think the countries part is to take their action how to apply tax with their people using bitcoin. Regulation is the part of the government to make the economy better alongside with bitcoin. So government will not use bitcoin since its decentralized for being worldwide currency.
Many people are trying to find ways, for them to exchange their service for cryptos, in our country catering private service is accepting bitcoin for cupcakes.... Lets wait other also for them to prepare themselves with this kind of transaction.
This people are accepting Bitcoin because they know that they have something to do with Digital currencies. I do know a lot of people that have businesses but they do not accept Bitcoin because :
1. They do not know what it is.
2. They know it but scared of being hacked or being scammed.
3. They know it and also know the volatility and the high fees it has the reason they do not accept it.
Although there is a possibility that it can one day become a daily currency, a lot of things should be done first like government acceptance, regulations and more which are necessary for the bitcoin to become a daily currency as addition to the present fiat currency. A lot of things should be put in place first.
Bitcoin doesn’t need to be an everyday currency, but rather serve as the store of value in the representative form of digital gold. If that is the case, then higher transaction fees and long confirmation times reduce the incentive for participants to move money, leading to more hodling, theoretically reducing the supply and increasing the price.
Yes bitcoin has a potential to become our daily currency, specially to those who use and hold bitcoin. I wish it happen and our government support it.
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.
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.
That will not happen. Although its value is very high, it still can not meet the needs of cash. Bitcoin is simply an electronic money and we can not expect too much of it. I think it should only be used to trade large amounts of money and to pay for services is the most reasonable. That's my thinking and I think cash is better than bitcoin.
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