Topic: Can Bitcoin become a daily currency? - page 7. (Read 1405 times)
for now it is not very advantageous to use btc for daily payments rather it is used as an asset but with the lightning network implementation maybe btc would take a lead into this case as well.
bitcoin may be a bit slow because the number of enthusiasts and users is now much more in the past year and this market should move quickly because the addition of bitcoin owners and sellers may be this market is sluggish because the high price is much cheaper etherum so the movement is slower than etherum if for a day today is being used now as many companies are facilitating the way in which the coin sells to buy a daily good or a rental service.
yes bitcoin can be daily currency, but it needs to cut off that higher fees.
there is no problem with transaction delay, it goes instant to the receivers blockchain.
there is no problem with transaction delay, it goes instant to the receivers blockchain.
all things considered, you should utilize digital currencies first before beginning a subject about them. also, you my companion have not been utilizing bitcoin or some other cryptographic money. since on the off chance that you used bitcoin then you would have definitely realized that bitcoin exchange charges are not high as well as they are at their most minimal right at this point. what's more, exchanges are moment the affirmation requires some investment which is restricted when a square is discovered.
Bitcoin can not become a currency for daily payments. The cost of transactions in bitcoin is too high. The ethereum has a much lower transaction cost compared to bitcoin.
It is certainly possible that bitcoin can become a daily currency. But, It would take a long time for bitcoin to get accepted everywhere. It has already made a lot of grounds.
I think transaction volumes need to go up significantly before crypto prices can go up. My guess is crypto has the rest of 2018 to get trans volumes up. My other point is the current way that mining works is not sustainable. I have advocated a controlled mining model where say six large miners only are used and paid the same amount to provide the service.
i think, bitcoin is less appropriate if used to buy food. because the fees for buying food are higher than the price of the food itself. for example, the price of a cup of coffee is only 1$ while the transaction fees 5$.
It is possible but to be perfectly honest I don't think it is going to happen in the near future. We all know that Bitcoin is made as a digital currency and not for daily usage, it is here not to replace fiat but who knows, what will happen, We just need to consider the transaction fees and confirmation time, plus the fact that not all establishments are accepting Bitcoin and the government, I don't think they would like the idea, they are already unfriendly to Bitcoin now what more if it will be used as a daily currency, I am sure they will do anything and everything on its power to shut it down. For me it is better for Bitcoin to stay as a digital currency, that way it can still fulfill its purpose without killing fiat that can lead to nothing but chaos.
Yes, bitcoin can become a daily currency if one create a digital wallet and then can swipe over our phone or maybe even a card. This will create easiness to the billing system.
With the existing fees, in a few transactions you have spent more than you use conventional transactions, and many transactions are queuing for verification and business enthusiasts must wait for their money. It can, but if nothing better than conventional, then why using cryptocurrency?
The things you mentioned are some of the factors that causing bitcoin or cryptocoins can’t be a daily exchange rate, for now and also the existing infrastructure is not yet capable, but the development is very unpredictable so I think it’s uncertain.
Oh and I think this question is asked in this forum so often.
Oh and I think this question is asked in this forum so often.
You are right...Everyone knows about it.It's not for us.This is for the rich people.Seems crypto currency is much popular than real money.There are so many small things that people can not buy with bitcoin in everyday life...bitcoin is far from becoming an everyday currency.
In my opinion, Litecoin is the best way to meet daily needs.I do not know what you think, but it seems to me
In my opinion, Litecoin is the best way to meet daily needs.I do not know what you think, but it seems to me
There are many chances that in the next years bitcoin becomes a payment method for the online transactions all over the world
I think so long as it's an appreciating asset no. If the value levels off then I can see "Satoshis" being used for everyday payment
bitcon has limited storage. So it will not be a substitute for daily currency. But the crypto is perfectly possible
No, it is just used now as a store of value, and for trading to make money
I think bitcoin will not become currency. Because bitcoin is a digital currency. bitcoin is a bogus virtual currency. The bitcoin value always changes rapidly.
For my opinion no for now because bitcoin is very volatile and the transaction transfer fee is too high.
Yes you are right, the price of transaction fees today is very high to become our daily currency but i thing that they can fix in the future and we will be able to use bitcoins just like fiat today.
Some retail shops and restaurants might not be willing to accept bitcoin due to one reason, the huge price volatility in bitcoin might cause some retail shops or restaurant to get into debts as the boss would have to pay the staff salary, rental and utilities expenses monthly at a fixed rate, and collecting bitcoin as payment from their customers would risk them having to deal with bitcoin price fluctuation.
Currently, bitcoin is far from becoming an everyday currency. There are lots of things to consider if you want bitcoin to be used in day to day transactions. First thing is volatility. You cant use a coin that has a value of $100 today and tomorrow it becomes $90 only or worse $50. That's not good for the business owners. Secondly, bitcoin fees are just huge. You buy $10 worth of food and your fees for the transaction is more than $10. So instead of putting out $10 you put out $25 for a $10 worth of food. That's not at all practical.
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